How Much Money You Need To Earn To Be “Happy” In Australia

Safe to say, the hare-brained/downright laughable notions that a) money can’t buy happiness, and b) money stops impacting your happiness beyond an annual income of $75,000 have soundly been debunked. Especially in the face of rising interest rates; the cost of living crisis; and the looming threat of economic recession.

So just how much do you need to be earning per year before those dopamine molecules begin coursing through your miserable body? According to data collated from a Purdue University study (via currency exchange website S Money)… significantly more than $75K.

As the country where “happiness” is the world’s third most costly pastime; here in Australia, the magic number is US$121,191 (or just a touch under AU$185,000). This is only trumped by Iran at US$239,700 (AU$365,600) and Yemen US$172,140 (AU$262,500),

RELATED: Can Money Buy You Happiness?

Countries With The Highest Price Of Happiness (USD)

1. Iran — $239,700
2. Yemen — $172,140
3. Australia — $121,191
4. Zimbabwe — $118,342
5. Norway — $117,724
6. Switzerland — $115,745
7. New Zealand — $114,597
8. Israel — $112,506
9. Iceland — $111,908
10. United States — $105,000

Countries With The Lowest Price Of Happiness (USD)

1. Sierra Leone — $8,658
2. Suriname — $10,255
3. Madagascar — $11,355
4. Guyana — $11,707
5. Sudan — $11,845
6. Nicaragua — $11,941
7. Colombia — $12,159
8. The Gambia — $12,597
9. Bolivia — $12,795
10. Ghana — $12,949

RELATED: What It Takes To Be A Top 1% Earner Around The World

“There was substantial variation across world regions, with satiation occurring later in wealthier regions for life satisfaction,” explained Andrew T. Jebb, the Purdue University study’s lead author.

“This could be because evaluations tend to be more influenced by the standards by which individuals compare themselves to other people.”

Check out the complete list of how much “happiness” costs vis-à-vis annual income around the world with the interactive list below (courtesy of S Money).