Earning more money makes us happier, says study A study of 1,014 people of varying incomes showed that as soon as earnings rises, the share of respondents describing themselves as very happy goes up, while those saying they were not too happy goes down. Researchers found that around 35 per cent of members of households earning under $10,000 (£6,455) a year claim to be very happy, 44 per cent fairly happy and 21 per cent not too happy, after asking participants how satisfied they are with their lives and their happiness levels. Of those earning under $10,000, the results showed that 24 per cent are very satisfied with their lives, 19 per cent somewhat satisfied, 25 per cent somewhat dissatisfied and 32 per cent very dissatisfied. But as soon as income rises, the share of respondents describing themselves as very happy goes up, and those as not too happy goes down, found Betsey Stevenson and Justin Wolfers from the University of Michigan, whose results are published by the Brookings Institution. At $10-20,000, 42 per cent are very happy and 47 per cent very satisfied, while at $30-$40,000, 55 per cent are very happy and just 4 per cent not too happy. Of those earning $50-$75,000, 64 per cent are very satisfied and just 5 per cent very dissatisfied, City AM reported. But at the $100-$150,000 threshold, for the first time in the survey, nobody is "not too happy" anymore, with everybody describing themselves as either very or fairly happy. At the same income level, for the first time, nobody describes themselves as "very dissatisfied" and just 3 per cent are still somewhat dissatisfied, while 60 per cent are very happy and 40 per cent fairly happy. By $250-$500,000, 83 per cent are very happy and just 17 per cent fairly happy - and for the first time everybody is either very satisfied (93 per cent) or somewhat satisfied (7 per cent). Those on $500,000 salaries and above are all very happy and very satisfied, the study found.