The Biggest Myth About Money You Need to Stop Believing

Here's the scientific proof that this common belief about money is a misconception.

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Can money buy happiness? The debate has been going on for ages. And while people have long sought after riches, the mad chase for wealth shows no signs of abating. However, a recent report found that you may not actually need to make that much money to be happy. The study, from DirectlyApply, found that people in the 10 happiest states in the U.S. make an average of $44,903. Read on to find out more, and if you're wondering what states stand out when it comes to goodwill, These Are the Friendliest States in the U.S.

Researchers compared the happiest states, according to the World Happiness Report, to the average salary in each state in the hopes of seeing how much money it actually takes to be happy. In the top 25 happiest states, the average income ranged from $69,771.36 to $33,937.92. The happiest country in the world, according to the report, is Finland. In Helsinki, Finland's capital, the average salary is £27,936 (about $36,000).

So you don't need to make a hefty income to have a happy life, but some studies show money could even get in the way of happiness. Developmental psychologist Robert Kenny, EdD, studied the aspirations, dilemmas, and personal philosophies of people worth $25 million or more, and found that having wealth is not always as easy as it sounds.

"We received response after response on how money is not always helpful," Kenny told the American Psychological Associations' Monitor. "Some were concerned about motivation. They worried that if their children have enough money and don't have to worry about covering the mortgage, what will motivate them? How will they lead meaningful lives? This is where the money might get in the way and make things confusing, not necessarily better." Kenny's biggest takeaway from the study was that "there seemed to be a trend that said you can't buy your way out of the human condition."

If money doesn't buy happiness, then maybe it's time to relocate to a happier place. If you're looking to pack your bags, keep reading to find out how much the average person makes in the happiest states. And for a different take on the age-old debate, Money Only Buys You Happiness Until You Earn This Much, Study Says.

1
Hawaii

Hawaii
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$38,604.96

And to find out where your money won't go as far, This Is the State Where Your Money Is Worth the Least.

2
Utah

Utah
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$45,563.64

3
Minnesota

Minnesota
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$51,339.24

4
North Dakota

North Dakota
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$46,311.00

And if you're trying to spend less, This Is How Much Money You'd Save If You Made Your Coffee Every Day.

5
California

California
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$55,006.32

6
Idaho

Idaho
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$34,729.68

7
Maryland

Maryland
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$44,538.24

And to see how your name might affect how much you're making, You May Earn More Money If This Is Your Name, New Study Says.

8
Iowa

Iowa
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$40,410.36

9
South Dakota

South Dakota
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$52,607.00

10
Nebraska

Nebraska
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$39,920.04

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11
Wisconsin

Wisconsin
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$34,539.48

12
Connecticut

Connecticut
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$41,204.00

13
New Jersey

New Jersey
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$34,012.00

14
New York

New York
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$68,053.20

15
Virginia

Virginia
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$67,001.00

16
Massachusetts

Massachusetts
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$60,460.20

17
Washington

Washington state
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$69,771.36

18
Colorado

Colorado
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$52,811.40

19
Georgia

Georgia
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$56,562.36

20
North Carolina

North Carolina
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$51,508.68

21
Arizona

Arizona
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$43,005.48

22
Texas

Texas
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$49,446.84

23
Illinois

Illinois
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$51,054.00

24
New Hampshire

New Hampshire
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$55,306.00

25
Kansas

Kansas
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$33,937.92

Allie Hogan
Allie Hogan is a Brooklyn based writer currently working on her first novel. Read more
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