Mr Micawber’s famous, and oft-quoted, recipe for happiness: “Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.” Is money really key to happiness, or is it matching your expectations to what you have, or perhaps just having a little more to spare once your basic needs have been met? So often we go through life always wanting more, and the Cash Happy Survey reveals the modern equivalent of Mr Micawbers spare sixpence.
A UK household needs £390 spare cash each month to be happy. On average, UK households have £381 spare cash each month, so we’re not that far off reaching this magic number. The survey also found that you don’t have to be filthy rich to be really happy. The happiest 10% of UK households have on average £713 spare cash each month. People that budget and have financial plans like savings, insurance, and a pension in place tend to be happier than those who don’t.
I think it is all a mind game, really. If you can relax about money because you have what you need and a little left over for fun and emergencies, you can put thoughts of money aside and focus on life!