Money is one of the prime components of happiness , depending on the lifestyle of the person who would be asked. These psychologists, from Purdue University and the University of Virginia, are not the first to study how income relates to life satisfaction. The researchers got answers to questions about «their happiness with their life in general, and about their current net worth, which we calculated as the total value of their savings, investments and assets, minus any debt. Picking up new skills and finding hobbies that we love will make us happier. You would think that because experiences bring us joy, having more money for trips and nights out would make us happier. Therefore, money really can buy happiness if you spend it correctly. The key is buying things that you think will bring you joy over time, like a painting you can admire daily or cooking set in your favorite color to bring joy every time you prepare a meal.