No one ever mentioned anything about going broke during the pursuit of happiness but that’s now how the story reads thanks to the numbers. “LendingTree” surveyed more than two thousand consumers nationwide to better understand our correlation between money and happiness.
- According to the survey, nearly 9 in 10 Americans (88%) have spent money on something to make them happier — and 43% have gone into debt to do so. LendingTree’s chief credit analyst, Matt Schulz says he’s surprised to learn this number isn’t higher!
- He also believes that “there’s nothing wrong with it — as long as you don’t go too overboard too often.” If we’re overspending on experiences, Schultz says that “some of these things can last a lifetime and be well worth a little bit of debt.”
Other interesting findings from the study include:
- 1 in 3 Americans say money is “the means and the ends,” bringing them more happiness than even love.
- Consumers with high incomes are more than twice as likely to believe money buys happiness as those who earn less
- Overall, 19% of Americans think money can buy happiness, while 70% agree it can reduce stress.
Source: Lending Tree