We know that it’s significantly more important than money and somewhat more important than health. That’s what the data shows. The interesting thing is that people will sacrifice social relationships to get other things that won’t make them as happy — money. That’s what I mean when I say people should do “wise shopping” for happiness.
2. Another thing we know from studies is that people tend to take more pleasure in experiences than in things. So if you have “x” amount of dollars to spend on a vacation or a good meal or movies, it will get you more happiness than a durable good or an object. One reason for this is that experiences tend to be shared with other people and objects usually aren’t. Another way I follow what I’ve learned from data is that I don’t chase dollars now that I have enough of them, because I know that it will take a very large amount of money to increase my happiness by a small amount.3. The data says that with the poor, a little money can buy a lot of happiness. If you’re rich, a lot of money can buy you a little more happiness. But in both cases, money does it.