A new study is challenging the old adage “Money can’t buy happiness.” Well, it’s giving it a new twist, at least.
A recently published study in Emotion surveyed U.K. banking customers on their “life satisfaction,” and then compared that to their financial situation. Debt, income, investments didn’t correlate strongly to being happy. What did, however, was cash on hand, i.e. how much they had in their bank account. “Our results suggest that having readily accessible sources of cash is of unique importance to life satisfaction,” the researchers wrote.
The point: People feel more secure when they know they have something to fall back on.
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