Does Money Bring You Happiness? The Investigation of the Relationship between Individual Subjective Financial Evaluation and Happiness in Hong Kong

DOI

10.2991/978-2-38476-259-0_74How to use a DOI?

Keywords

Happiness; household's financial situation; standard of living; relative standards model

Abstract

This study delves into the age-old debate on whether money can buy happiness, which has been widely discussed and controversial over time. Previous research on the relationship between wealth and happiness has produced contradictory results due to differences in measurements of happiness and income. This study aims to take a leading role in examining the relationship between subjective financial evaluation of financial situation and happiness in Hong Kong, with a focus on perceived satisfaction with household financial situations and comparisons with past living standards. Using data from the World Values Survey, the study found a positive relationship between satisfaction with household's financial situation and happiness. People who are less satisfied with household’s financial situation have higher odds of feeling unhappy. Additionally, people who believe their living standard is better off than their parents have lower odds of feeling unhappy than people who feel the same.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Xinyi Li
PY  - 2024
DA  - 2024/06/21
TI  - Does Money Bring You Happiness? The Investigation of the Relationship between Individual Subjective Financial Evaluation and Happiness in Hong Kong
BT  - Proceedings of the 2024 3rd International Conference on Social Sciences and Humanities and Arts (SSHA 2024)
PB  - Atlantis Press
SP  - 709
EP  - 716
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-259-0_74
DO  - 10.2991/978-2-38476-259-0_74
ID  - Li2024
ER  -