In a six-month experiment, people who received cash transfers of $10,000 generally reported feeling happier than people who did not receive the payment.
Tayfun Coskun / Anadolu Agency via Getty ImagesA recent experiment suggests that money can indeed buy happiness — at least for six months, among households making up to $123,000 a year.published Monday in the journal PNAS looked at the effects of giving 200 people a one-time sum of $10,000.
Participants who got the money were required to spend it all within three months. They recorded how happy they felt on a monthly basis, as did a control group of 100 people who did not get any money. The researchers measured happiness by having people rank how satisfied they were with their lives on a scale of 1 to 7 and how frequently they experienced positive feelings, like happiness, and negative feelings, such as sadness, on a scale of 1 to 5.
However, people with household incomes above $123,000 did not report noticeable improvements in their happiness.
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