Does money make you happier? Or does being happier in the first place allow you to earn more money later, maybe by way of greater creativity or energy? Or does some other factor produce both money and happiness? There's evidence for all three interpretations, Lucas says.
In any case, researchers say any effect of money on happiness is smaller than most daydreamers assume.
"People exaggerate how much happiness is bought by an extra few thousand," Oswald said. "The quality of relationships has a far bigger effect than quite large rises in salary.... It's much better advice, if you're looking for happiness in life, to try to find the right husband or wife rather than trying to double your salary."
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