money really does make you happy

 

The depressing news it that it seems that money can really make you happy. For years now we have been told that Money cannot buy happiness. Foe most of us who aren’t quiet as rich as we’d like to be have been comfortable. People in poorer societies are happier when they can afford basic neccessities than when they cannot. New research from economists Betsty Stevenson and Justin Wolfers suggest that aboslute income does matter, a lot.

Increasing numbers of people are seeking help because they are struggling to pay their essential household bills, according to new research from Citizens Advice.

Figures from the charity show that the number of people seeking help with mortgage arrears shot up by 35% in the first two months of 2008 compared with the same period in 2007. The research also shows continuing increases in problems relating to such basic essentials as gas and electricity, water, telephone and council tax debts.

And another recent survey from price comparison website Moneysupermarket.com has found that 84% of people currently have “significant” financial worries - with 30% of them not sure they can cope for much longer.

UK consumers owe more than £1.3 trillion on loans, credit cards and overdrafts - and while these debts are rising, the ability to cope with repayments is declining. The credit crunch could well make matters much worse - banks and building societies are already tightening their lending criteria and the cost of borrowing is increasing sharply.