Money can’t bring you happiness – but love can, says a new study from the London School of Economics.
According to researchers, it’s the relationships people cultivate and good mental health that will bring true bliss in one’s life, not economic status.
The study surveyed 200,000 people around the world and looked at the different factors that had an impact on people’s well being.
After looking over the results, researchers found that doubling a person’s income only raised happiness by under 0.2 points (on a scale of zero to 10).
“One would, therefore, have expected economic growth to bring considerable increases in life satisfaction,” the paper reads. “But in many countries, it has not.”
Researchers believe that people adapt to higher levels of income over time but still compare their own income to that of others. So any happiness associated with income has more to do with how they compare themselves to their peers similar in age, gender and region, which only amounts to a very small impact on happiness.
Having a partner increased the happiness of those surveyed by 0.6 points. The same amount of happiness was lost when they separated from their partner either by a breakup or death.
“People need to be needed and need to be in meaningful relationships,” the authors told The Telegraph.