We’ve all heard the heated debate – does having money make you happy? Most of us respond emphatically: No! However, if we are honest, most of us would also add a caveat – money does not bring happiness, assuming you have “enough” money to begin with.

Of course that is where it gets interesting.

How do we define “enough”?

“Enough money” is obviously very personal.  But there IS a correlation between money and happiness, if someone’s basic needs are NOT being met. If you don’t have enough money to buy the food you need and pay for decent shelter and clothing, then it‘s true that having more money will indeed make you happier.

Beyond that is where it gets dicey. What is barely enough to one person is considered lavish by another, and one person’s decadence is classified as a basic necessity by someone else.

Most studies do agree, though, that once someone reaches “middle class”, more money does not yield more happiness. Currently, these studies (http://www.time.com/time/magazine/article/0,9171,2019628,00.html ) say that in the United States, satisfaction rises with income until yearly income reaches $75,000 (or perhaps as high as $120,000 depending on how expensive your area of the country is). After that, researchers have trouble proving that more money makes that much of a difference. Other factors – like the quality of your marriage and your health – become more relatively important than money.

Interestingly, women are more offended then men by the notion that money equals happiness. Why? I’ve noticed that women have a harder time connecting money to things that are really important to them. Women say they don’t need/like money, but they say they need/desire financial security and peace of mind. Women seem to be concerned that people will think they equate happiness with “stuff”.  And it’s true that “stuff” costs money. But so does feeling financially secure.

So the question becomes, how much money do you need to feel secure and have peace of mind? What is this number? Because beyond that, most agree that that there are other things in life that are more important than money.

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