Can money buy happiness?
[Representational Image]Pixabay

Can money buy you happiness? Some say it can and some say it cannot. But a recent study by University of California has finally arrived at the truth: "Money cannot buy happiness."

Researchers reveal that more money may not necessarily buy you happiness but it can certainly improve health and life standards.

The study shows money is not a mandatory thing in life in order to be happier because people who earn more have a tendency to become proud and more selfish, while people who earn less tend to become richer in love and compassion.

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Another study had earlier revealed that people should focus on how to spend their spare time and money to become happier in life rather than focusing on how much money they earn or save.

The researchers based at UCLA's Anderson School of Management in California asked thousands of Americans whether they would prefer to have more money or more time. And not-so-surprisingly, most chose money over time.

This time the survey has been conducted among 1,519 people by the University of California, Irvine, who answered a series of questions based on seven emotions — amusement, awe, compassion, contentment, enthusiasm, love and pride — which are considered to make up the core of happiness.

Lead author of the research paper Paul Piff said: "These findings indicate that wealth is not unequivocally associated with happiness."

"While wealthier individuals may find greater positivity in their accomplishments, status and individual achievements, less wealthy individuals seem to find more positivity and happiness in their relationships, their ability to care for and connect with others," Piff said.

The research revealed that poor people experience more happiness and beauty in life.

"Wealth doesn't guarantee you happiness, but it may predispose you to experience different forms of it — for example, whether you delight in yourself versus in your friends and relationships," Piff explained.