As Deaton and Kahneman wrote in their study, âMore money does not necessarily buy more happiness, but less money is associated with emotional pain.â
At lower levels of income, money brings tangible benefits that are necessary for survival, safety, and a sense of control. But at slightly higher levels of income (and this neednât be $75,000) the meaning of money starts to become somewhat more abstract and becomes about other things, like status and pride.