They say money can't buy happiness, but according to a new study, having access to a little cash can make life a lot more satisfying. Being able to get cash in a pinch is a strong predictor of life satisfaction, according to a two researchers at Stockholm University.
Theresearchers found that Swedes who said they could not come up with a moderate sum of money — a little over $1,000 — within a week, from either from savings, family, friends, or a bank, reported lower measures of life satisfaction than those who said they could. They study participants said that reversing the decrease in “satisfaction with life circumstances” that is associated with being unable to get cash would take more than a fivefold increase in income.
Not being able to attain money even had a greater association with life satisfaction than cohabitation or marriage. This suggests that it's not so much wealth as a sense of economic security that matters for someone’s well-being.