"Money doesn't buy happiness." We've heard this phrase since childhood. But why then do we all strive for money? Why does poverty oppress, and are the rich not crying any less than the poor? The question of the connection between money and happiness has been concerning humanity for millennia. In 2026, when the world went through a pandemic, inflation, and a trust crisis, it became even more acute. Let's figure out where the truth lies and where the myths are. Esterlin's Paradox In 1974, economist Richard Esterlin discovered an interesting pattern: in poor countries, happiness increases with GDP growth, but after reaching a certain level (about 20,000 dollars of income per capita per year), happiness stops growing. That is, Americans in 2026 are no happier than in the 1970s, although their income has increased many times over. Explanation: people compare themselves to neighbors, not to the past. As soon as basic needs are met, further wealth does not bring joy. Status, respect, friendship become more important. And money often ruins these connections. How much money is needed for happiness Studies from 2025 (a survey of 50,000 people in 30 countries) show that for happiness, a person needs about 2-3 times the minimum living wage per month. In Russia, this is about 60-90 thousand rubles per person (without taking into account mortgages). This is enough to not worry about food, clothing, treatment, and rare entertainment. Further income growth does not increase the level of happiness. Moreover, the super-rich (millionaires) are often happier than the middle class? No, the difference is negligible. However, they have more worries (capital preservation, envy, risk of loss). What to spend money on to become happier Buying things (iPhones, cars) brings fleeting joy (hedonic adaptation effect). A month later, you get used to it and want something new. However, spending money on experiences (travel, concerts, restaurants with friends) makes us happier for a long ti ... Read more