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Financial resources impact the relationship between meaning and happiness
Rhia Catapano1, Jordi Quoidbach2, Cassie Mogilner3
1Marketing Department.
Emotion (Washington, D.C.)
|April 7, 2022
Summary
Financial resources impact the connection between meaning and happiness. Greater wealth weakens meaning
Area of Science:
- Psychology
- Sociology
- Economics
Background:
- Happiness is a key aspect of human well-being.
- The role of meaning in life is crucial for psychological health.
- Financial resources are often considered a determinant of life satisfaction.
Purpose of the Study:
- To investigate the relationship between financial resources and the importance of meaning for happiness.
- To determine if socioeconomic status moderates the link between meaning and happiness.
Main Methods:
- Analysis of three large-scale datasets.
- Inclusion of over 500,000 individuals from 123 countries.
- Examination of both objective income and subjective socioeconomic status.
Main Results:
- Meaning is a less potent predictor of happiness for individuals with higher financial resources.
- The association between meaning and happiness diminishes as financial resources increase.
- This finding was consistent across different measures of financial status.
Conclusions:
- Increased financial resources can weaken the psychological significance of meaning in contributing to happiness.
- The interplay between financial well-being and existential fulfillment warrants further investigation.
- Future research should explore the mechanisms underlying this moderating effect.
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