A paper co-authored at Cambridge Judge Business School finds that greater financial well-being makes people feel better. The paper analysed bank account data for nearly 600 Britons against their reported levels of happiness. Co-author Joe Gladstone, a PhD Candidate at Cambridge Judge, said: “While many individuals believe that increasing income or total wealth will improve their happiness, they may also benefit by building a financial buffer in their checking and savings accounts. We found this buffer to be associated with improved well-being regardless of how much a person earns, invests, or owes.”
Read the full article [cnbc.com]
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