How Much Money You Need To Earn To Be “Happy” In Australia
— 22 November 2023

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

— 22 November 2023
Garry Lu
Garry Lu

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).

Garry Lu
After stretching his legs with companies such as The Motley Fool and the odd marketing agency, Garry joined Boss Hunting in 2019 as a fully-fledged Content Specialist. In 2021, he was promoted to News Editor. Garry proudly retains a blue belt in Brazilian Jiu-Jitsu, black bruises from Muay Thai, as well as a black belt in all things pop culture. Drop him a line at [email protected]


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