How much money do people need to be happy? Things to understand.

Money

Although it is difficult to say how much money is needed to run a comfortable life, there is a '50-30-20 rule 'about what percentage of income should be spent on what. Accordingly, half of the income should be spent on necessities, 20 percent on savings/investment, and the remaining 30 percent on entertainment. There are countless people in the world who do not want to suffer. However, those who do not want to make money are rarely found. Not only Nepalis, but people all over the world have also reached the corners of the earth for money. It seems that increasing money means increasing people's happiness. But does the amount of happiness increase as the income increases? Moreover, how much money would make people happy? Studies on the relationship between money and happiness since the 1970s have shown that while increasing income has made people happier, it has declined to a certain level. In a 2010 study by Princeton University, Nobel laureates Angus Dayton and Daniel Kahneman found that a person's happiness reaches its highest point with an annual income of ७५ 75,000. A study by Andrew Jeb of Purdue University and his team in 2018 found that a person earning more than 95,000 a year is the ideal person in the world to be happy. This amount varies around the world. For example, there are 150,000 in North America and LaKh 100,000 in Western Europe. Similarly, Yearly 35,000 a year is considered the ideal income for a Caribbean country. Even if the study does not cover South Asia, the income level of a country like Nepal can be compared with that of an African country. Studies have shown that when the annual per capita income in African countries is 40,000 dollars, the level of happiness is maximum. The study was conducted among 1.7 million people in 164 countries, based on data from the Gallup World Poll. The data was based on questions about purchasing power, life satisfaction, and health status. The study found that an income of Thoued 60,000 to ७५ 75,000 is ideal for staying emotionally healthy. Studies show that people who earn more than ५ 150,000 have a lower rate of happiness than those who have more money. The World Happiness Report (WHR) has been published annually since 2012, measuring happiness. The index focuses on gross domestic product (GDP), average age, generosity, social assistance, independence, and income from corruption.

Five Nordic countries, Finland, Denmark, Norway, Sweden, and Iceland, have been in the top 10 since the report was made public. The Nordic countries are at the forefront of the state of democracy, political rights, corruption, trust among citizens, sense of security, social harmony, gender equality, equal distribution of income, and human development index. Due to free health care, education, low crime, parental leave, annual leave, etc., they have been falling into the top category of happiness. Studies have shown that work-life balance is the key to happiness. Most of the countries that fall into the category of lesser happiness are the least developed countries. Countries that have experienced war, political instability, and natural disasters in particular fall into this category. Afghanistan will be at the bottom of the WHR in 2021. Afghanistan lags behind in terms of average life expectancy and gross domestic product (GDP). Similarly, Zimbabwe, Rwanda, Botswana, Lesotho, Malawi, Tanzania, Burundi, and Haiti are also among the 10 least happy countries. This year, Nepal topped the index among the happiest nations in South Asia. However, compared to other countries in the world, Nepal is still ranked 87th.

There are enough arguments that the word happiness should not be compared with money. Researchers have found that happiness is a measure of a person's ability to make a living. Jeff Sachs, a WHR co-creator and professor at Columbia University told CNBC: "Happiness is not about how much someone smiled or how much they laughed yesterday, it's about how they felt during the journey of their lives."Are Billions Really Happy? If money can make you happy, it means that no one in the world is happier than a billionaire. But research does not say that. "I interviewed 21 billionaires over a six-year period and found that only 1% of the billionaires were happier than the average person," Raphael Buzzieg said in an article published in Business Insider on August 31, 2019. His research found that although the money. it did not make a big difference in a person's ability to be happy, it did improve his personality. Money does not please people. But, the choice is definitely given. When there is a lot of money, people prefer to talk more. However, not everyone is in a position to make such a drastic adjustment. Even among the wealthy, those who are prosperous in their own power seem happier than those who inherited an ancestor or became a billionaire by marrying a wealthy man. Research shows that there is more happiness in spending money than in spending money on others. In the latter part of his life, Andrew Carnegie donated most of his wealth to charities, foundations, and universities. More than 170 millionaires, including Bill Gates and Warren Buffett, are following in Carnegie's footsteps. According to Forbes, 25 billionaires in the United States have donated ४ 149 billion to their health. Buffett donated nearly $ 43 billion, while Bill and Melinda Gates donated $ 43 billion. Recently, Chuck Finney became a billionaire who became poor by donating all his money. Over the past four decades, you have donated more than $ 8 billion to charities, universities, and charities worldwide, according to an article published by Forbes on September 15, 2020. Are you dissatisfied with comparisons? According to a study by Si Chen's 'Relative Depression and Individual Wellbeing', dissatisfaction increases when we begin to compare the values ​​of life with those of our contemporaries and fail to adhere to them. He points out that even when there is a marked improvement in total poverty, the tendency to compare ourselves with others results in dissatisfaction. This is evidenced by the recent competition for 'attractive' images related to tourism, transportation, and lifestyle that will be posted on social media platforms including Facebook. It could be a photo taken with beach or city buildings in the background or a gathering with friends. Photos posted on social media platforms including Facebook have also become envious. But one-second photographs do not reflect the reality of a lifetime. For example, a person who is tired of working 12 to 13 hours a day abroad can take a picture while smiling by the sea on a day off. Looking at the picture, one might think, "Oh, Flanna's life is amazing showed that spending money determines the level of happiness. Here are eight suggestions on how to look or get an appointment for antique items. Spending less money on material possessions and more information, 2. Instead of spending a few more expensive things, spend more on things that make you happy, 3. Spend not only on yourself but also on others, 4. Don't spend too much on expensive insurance and extra warranty, 5. Use delays, 6. Discuss the impact of personal purchases on a daily basis, 7. Avoid the tendency to compare, 8. Pay more attention to the happiness of others while using it. Although it is difficult to say how much money is needed to run a comfortable life, there is a '50-30-20 rule 'about what percentage of income should be spent on what. According to Senator Elizabeth Warren's book, All Your Worth: The Ultimate Life Plan, half of your income is spent on necessities, 20 percent on savings and investments, and the remaining 30 percent on pleasures. State investment Government and policymakers also need to pay attention to increasing the happiness of the people. In particular, there should be investment for the emotional, physical, mental and social health of the people. According to an article by Kelly Gibbons published in Thriveglobal.com on March 30, 2018, only 22 countries out of 193 governments in the United Nations have implemented happiness policy. Nepal also needs to pay attention to this. In particular, the government's investment should focus on reducing corruption, social inclusion, public access to public services such as health and education, and equal treatment of the law. It is also important to bring a balance between family and work, especially flexibility in working hours and time, the family paid leave. This not only increases the happiness of the employee but also increases the productivity and reward of the work he does.