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by Todd B. Kashdan, Ph.D.

This post is a response to Money Buys Unhappiness, Proven in a New Study by R. Douglas Fields

Science cannot prove anything. The word “proven” is a clear sign that you are no longer in the province of science, rather you are in the province of people with an agenda. Be wary! But we can find evidence strongly in favor of one idea compared with another. The idea that money leads to happiness or unhappiness is a soundbite. Perfect for a radio advertisement. Ridiculous if you are trying to describe decades of research on the topic. You want a soundbite? Whether money leads to happiness or unhappiness depends on how you spend your money.

Want to dive into the research? If you live in a household that earns more than $40,000 per year, increases in income have a miniscule impact on happiness. You can afford taking your child to the emergency room when the knife misses the bagel and slices through the soft tendons in their fingers. Unlike families with less income, you are not required to do a cost-benefit analysis of whether taking your child to the hospital is worth living on bologna and water for the next week. This leads to my first commonsense point.

Read in Full:  http://www.psychologytoday.com/blog/curious/201005/does-money-influence-happiness-depends-how-you-spend-your-cash



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