Polls / March 19, 2013

Would you be happier if you put more money into your savings?

Almost two-in-three respondents to the latest eZonomics online poll say they would be happier if they put more money into their savings.

Peace of mind
It has been said that money can’t buy happiness but comfort with savings does actually appear to be linked with peace-of-mind. This poll – timed for the first United Nations International Day of Happiness – suggests the relationship. And findings from the ING International Survey on Financial Competence show Europeans comfortable with the amount they have saved are four-times more likely to rate their satisfaction with life highest on a zero-to-10 point scale (rating it as a nine or 10).

The economics of happiness
Of course, there are many ways to boost happiness – and a lot of them are non-financial. An eZonomics post on the Urban Times website explains the “Easterlin paradox” (and some contrary views), which argues that after a certain level, higher income does not increase happiness.

Let’s head out tonight
This blogpost by economist Chris Dillow and our seven tips for boosting happiness detail ways research suggests we can become happier. Simple steps include spending time with friends and family and limiting TV time in favour of other activities. Research also suggests that for many people buying experiences (such as travel or concert tickets) gives more “bang for buck” in terms of joy than material goods. Action for Happiness suggests 10 Keys to Happier Living, including giving, exercising and trying new clubs and skills.

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eZonomics team
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