Chris Budd

So if you are a person who sees money as one of your objectives of life, you will be unhappier than you could otherwise be.

So let's talk to that.

I can give you some stuff on that.

So have you heard of Maslow's hierarchy?

Yes.

So you've got to be very, very careful when I say more money doesn't make you more happy.

Because some people say, well, look at that guy who's homeless.

If he had some money, he'd be happier.

Absolutely true.

And Maslow's hierarchy of needs is a really good model for explaining that.

If you don't have security, if you don't have something to eat, then you are going to be unhappy and some money will make you more happy.

Absolutely.

But as you go up Maslow's hierarchy of needs, you don't need money to be creative.

You don't need money for self-actualization.

So there is a point at which more money will not make you any more happy.

Now, this is great.

I love this one.

So there was some research, quite famous research done about 20 years ago, which asked that question, will more money make anybody more happy?

And that particular survey found that no, and the amount above which you won't get any more happy is actually quite low.

They found it to be 100,000 a year income.