I can say that if I had more money, it would improve my happiness. I’m in college, and my tuituion, rent and food is paid for. I have wonderful parents. But anything else I want comes from me. So, like most college students, I have a part time job. If I want new clothes, gotta work. If I want beer or cigarettes, gotta work. If I want a new car, gotta work. If I want to buy more camera equipment (which I really do), gotta work. If I want to put gas in my car, gotta work. You get it.
If I just had a nice lump sum of money (say I cleared $50,000 or so in the lottery) I would be happier mainly because my stress level would go down drastically (no more balancing school, work and social life) and for once I wouldn’t have to save to buy a pair of jeans or a new camera lens or a case of beer. I make $8.25 an hour at my current job, but I dislike my job and cannot work too much because my grades are important. This was the only job out of 11 I applied for that I actually got a callback and an offer. Balancing school and work is where the majority of my stress comes from. So if I did not have to work during college and was still able to spend, well that would rule. Maybe I am shallow, buy buying things I want makes me happy. If I could go out and buy the Gap jeans I have my eye on and the North Face fleece I like, and the new wide angle camera lens I really want and the other seasons of CSI on DVD and some new Pumas, it would definitely improve my mood. If I were to buy all of these things, it would take me quite a long time to save up. Just having a lump sum or finding a fun job that didn’t stress me out and that pays more would improve my happiness.
But without all that, I survive. If I were at home where my family and friends are, that would also improve my happiness. So it’s not everything. Having more money is just one less thing to worry about.