Money can’t literally buy happiness. But it can buy safety, security and experiences that make life more joyful and less stressful. How much money do Americans need to be happy? The answer varies depending on where they live and what they value.
Key Takeaways
- Americans say they need an average of $94,696 a year to be happy. This is the average salary that Americans say would make them happy, according to a new survey of over 1,200 people from Moneyzine.com. However, this number is not the same for everyone, as happiness depends on many factors besides money, such as health, relationships, hobbies, and the ability to get that fancy avocado toast once in a while. You know, the one with the perfectly poached egg on top that’s totally Instagram-worthy!
- In 17 states, the average salary needed to be happy is over $100,000 a year. These are the states where the cost of living is higher than the national average, and where residents say they need more money to afford their basic needs and wants. It’s like trying to keep up with the Kardashians in New York ($288,543) or embracing the Aloha spirit in Hawaii ($200,978), which are also the most expensive states to live in. Living the high life comes at a price, apparently. But hey, at least you can enjoy those stunning city views from your swanky penthouse!
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New York
Average salary needed to be happy: $288,543
Median annual salary: $52,478
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Hawaii
Average salary needed to be happy: $200,978
Median annual salary: $48,568
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Maryland
Average salary needed to be happy: $145,833
Median annual salary: $51,418
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New Jersey
Average salary needed to be happy: $139,286
Median annual salary: $51,085
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Massachusetts
Average salary needed to be happy: $139,167
Median annual salary: $58,448
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Utah
Average salary needed to be happy: $137,500
Median annual salary: $44,470
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Washington
Average salary needed to be happy: $128,125
Median annual salary: $56,326
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California
Average salary needed to be happy: $127,968
Median annual salary: $49,733
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Illinois
Average salary needed to be happy: $127,581
Median annual salary: $47,486
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Idaho
Average salary needed to be happy: $117,500
Median annual salary: $40,061
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Colorado
Average salary needed to be happy: $115,591
Median annual salary: $50,253
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Florida
Average salary needed to be happy: $113,898
Median annual salary: $40,810
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Michigan
Average salary needed to be happy: $111,037
Median annual salary: $45,510
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Maine
Average salary needed to be happy: $110,951
Median annual salary: $45,427
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Oregon
Average salary needed to be happy: $105,000
Median annual salary: $47,778
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Arizona
Average salary needed to be happy: $100,504
Median annual salary: $45,282
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Virginia
Average salary needed to be happy: $100,417
Median annual salary: $48,298
- In some states, the average salary needed to be happy is less than $100,000 a year. These are the states where the cost of living is lower than the national average, and where residents say they need less money to enjoy their lives. You can find financial bliss and breathe in the fresh air of New Hampshire ($42,000), which is also one of the cheapest states to live in. It’s like having your cake and eating it too, without breaking the bank. Plus, you’ll have more cash to spend on hiking gear and outdoor adventures!
In conclusion, money can influence happiness, but it is not the only factor. The amount of money that Americans say they need to be happy varies by state, depending on the cost of living and other factors. However, happiness is not a fixed goal that can be achieved by reaching a certain income level. Happiness is a subjective and dynamic state that can change over time and circumstances. Therefore, it is important to find balance and satisfaction in all aspects of life, not just money. So go ahead, chase those dreams, have a little fun, and remember to savor the small things that bring you joy – even if it’s just that perfect cup of coffee on a lazy Sunday morning. Life’s too short to not enjoy the little pleasures!
