They say money can't buy happiness, but a new study suggests it actually can. In fact, the more money you have, the happier you are.
That might sound obvious to some people, but studies have historically shown there's more to happiness than money. In the 1970s, economist Richard Easterlin argued that increasing average income did not raise average well-being, a claim that became known as the Easterlin Paradox. Over the years, the paradox evolved into the notion that money does indeed buy happiness, but that effect fizzles once the income you earn is able to buy your basic needs -- food, shelter, and the like.