A new approach to behavioral finance: Can money really buy happiness?

This paper tackles the problem of happiness and satisfaction in terms of salary levels. People can declare themselves happy and satisfied with the life they lead but they may be dissatisfied with a certain component e.g. financial satisfaction. Many of us have heard the phrase: Money can’t buy happiness. Most people agree that money can support education health infrastructure etc. So it remains to be examined whether people who have higher incomes are happier. Therefore the aim of this study is seeking an answer to the question: Can money buy happiness? How? Our results show that on average a monthly salary between 2500-3500 lei leads to high levels of happiness life satisfaction and job satisfaction.