We often hear the classic saying "Money can't buy happiness." In terms of deep feelings, that might be true, but in real life and practical living, behavioral science and economics have proven that "Money can definitely buy happiness." However, there is a "saturation point" that exists.
Thairath Online will help you decode how rich you actually need to be to be happiest, and why earning more money doesn't always mean more happiness.
The Nobel-winning research by Daniel Kahneman and Angus Deaton in 2010 found that people's happiness rises with increasing income until it reachesa "saturation point"at about 75,000 US dollars per year (around 2.7 million baht). Beyond this, even if income rises, daily happiness barely increases.
However, a newer 2023 study by Kahneman and Matthew Killingsworth uncovered a more complex truth: for those already happy, more money keeps boosting happiness endlessly without saturation, but for those"unhappy"or suffering emotionally, such as from heartbreak, illness, or depression, money can ease distress only up to a certain income level. Beyond that, no amount of wealth can erase inner pain.
When adjusting research figures to Thailand's cost of living and working conditions,the "happiness saturation point"may not be an exact salary figure like 50,000 or 100,000 baht but rathera "financial security point"consisting of three main elements:
1. The point where money eliminates basic distress
The first level of happiness is"being free from scarcity-related suffering."If your income covers the four necessities, pays rent, allows you to eat well without worry, clears credit card debt, and builds emergency savings, then stress from daily survival disappears, your mind clears, and happiness sharply rises.
2. The point where money buys "time" and "experiences" When you have surpassed mere survival, money starts buying convenience—paying to save commute time, buying a car, using the BTS Skytrain, or living near work—and experiences like travel and special meals. Research finds that spending money on
"experiences"provides longer-lasting happiness than buying"things."3. The hedonic treadmill of happiness
This explains why money stops buying happiness at very high incomes. Buying your first designer bag brings great joy, but by the fifth or tenth, your brain habituates, excitement fades, and you need increasingly large sums to gain the same fleeting happiness.
Advice for salaried workers: how to truly be happy going forward
the "basic saturation point"where money is no longer a daily life problem.Beyond this point, increased happiness may not come from working harder until health breaks down for a 20% higher salary, but rather from investing time and money in truly meaningful things like physical and mental health, relationships, and pursuing passions. Ultimately, money is a superb tool to
"buy freedom"so we have time to create happiness ourselves.