Happiness

Money can most probably buy happiness here: study

Section: | Singapore News |

By: | ZEINAB YUSUF SAIWALLA |

Publication: | The Business Times 29/11/2012 |

Page: | 10 |

No. of words: | 468 |

Singaporeans have enough to be fairly comfortable

ACHIEVING more does not necessarily translate to greater happiness among Singaporeans, according to results of a recent study by two National University of Singapore Business School lecturers.

Senior lecturer Tambyah Siok Kuan and associate professor Tan Soo Jiuan conducted the study to understand happiness and well-being among Singaporeans.

Other findings, which have been published in a book titled Happiness and Wellbeing: The Singaporean Experience, also highlighted that Singaporeans with high household incomes (more than $5,001/household) are the happiest and enjoyed life the most, pointing towards the fact that money could most probably buy happiness here.

However, this change in mindset seems to have been something triggered in recent years. Results from a similar study conducted in 2006, as part of the AsiaBarometer survey, found that medium household incomes were the happiest and enjoyed life the most.

Explaining this difference in findings, Ms Tambyah noted that it could possibly be due to the fact that the middle class has come under greater pressure of late as a result of rising costs of living and inflation.

Referring to a section in the survey that sought to assess Singapore's economic well-being, Ms Tambyah explained that although more than two-thirds (66.9 per cent) of Singaporeans agreed that they had enough money to buy the things they need, 67.5 per cent disagreed that they had enough money to do what they wanted while 63.6 per cent said they would be unable to make a major purchase such as a car, appliance or furniture if needed to.

"The results show that while Singaporeans have enough to be fairly comfortable, it is people with high incomes that have the buffer which allows...