For those who believe that money can buy happiness, how much money would it take for you to be happy?

According to this FREE online course I took by Professor Laurie Santos at Yale University, the answer is about $70,000.

What the Science Says About Happiness and Income

For those who believe money can buy happiness, here’s a simple question: How much money would it take for you to be truly happy?

According to research discussed in Professor Laurie Santos’ popular (and free) Yale University course The Science of Well-Being, the “magic number” is around $70,000 per year. This figure represents a threshold at which additional income brings diminishing returns on happiness for most people.

The course, which became Yale’s most popular class in history, is now available online for free—making it an accessible way to explore the psychology and neuroscience behind well-being.

Despite being released a few years ago, this course remains highly relevant. It offers science-backed insights into how our minds work—and how we can retrain them for greater happiness.

Does More Money Equal More Happiness?

The idea that more income leads to more happiness isn’t entirely wrong—but it’s more nuanced than it seems.

In a more recent study, Nobel Prize-winning economist Daniel Kahneman, along with researchers Matthew Killingsworth and Barbara Mellers, revisited this question. Their findings shed light on the complex relationship between money and emotional well-being.

Here’s what they found:

• For about 15% of participants, more income had no positive effect on happiness, even at levels above $100,000/year. This group—what researchers call the “miserable wealthy”—felt stuck, stressed, or unfulfilled despite their financial success.
• On the other hand, around 30% of respondents experienced a noticeable increase in happiness as their income grew past the $100,000 threshold. For this group, more money did improve life satisfaction, up to a point.

Killingsworth summed it up well: “If you’re rich and miserable, more money won’t help.”

Why Happiness Isn’t Just About Money

So what explains these different experiences?

Happiness isn’t just about income—it’s about how we spend our money, the quality of our relationships, and our daily habits. According to Santos’ course and many psychological studies, happiness is more strongly linked to:

• Gratitude practices
• Mindfulness and meditation
• Exercise and sleep
• Strong social connections
• Purpose-driven work

In other words, external wealth may not create lasting joy without internal well-being.

How to Apply the Science of Happiness in Your Life

Want to increase your well-being regardless of your income? Here are a few evidence-based tips inspired by Santos’ course:

1. Practice gratitude daily – Write down 3 things you’re thankful for.
2. Invest in experiences – People derive more joy from meaningful experiences than material possessions.
3. Strengthen your relationships – Prioritize time with loved ones.
4. Move your body – Regular exercise is a powerful mood booster.
5. Limit social comparison – Avoid the trap of comparing your success to others.

Final Thoughts: Can Money Buy Happiness?

The short answer? Sometimes—but not always.

While a certain level of financial stability is essential for well-being, happiness depends more on how we think, feel, and connect—not just how much we earn.

So, what do you think? Have you found that more money made you happier—or just busier?