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Money and Happiness
Money and Happiness
Aigerim Assylkhanova
Hilda A Nurbayyanti
Lorena Fadda
Nabilla D Adharina
Steve Darmadi
Tingyu Zhang
Bolun Zhang
Akimbek Saifulla
HappinessSubjective well-being is considered to be one of the important indicators of successful aging
(Herero and Extremera 2010)
What Makes Us Happy?
GDP per capita
Social support
Healthy life expectancy
Freedom to make life choices
Generosity
Freedom from corruption (WHR15)
more MONEY, more HAPPY !
COMMONSTEREOTYPE
Working Age AdultsUpcoming Stage of Life
$26,444Wedding Costs*
*the U.S wedding report inc, 2015
$3,500Childbirth Costs**
* according to Agency for Healthcare Research and Quality Healthcare Cost
and Utilization Project
Older AdultsRetired Being not in money-making atmosphere
Nursing grandchild could be the most lovable thing
to dono particular achievement to pursue
They don’t have particular stimulus to make money
no particular achievement to pursue
HOMO ECONOMICU
S
How do you live today, from 0 to 10?
(2012-2014 average)
Geography of Happiness
Geography of Happiness80
years
70 years
60-65 years
(World bank data)
Research QuestionDoes exist a correlation between happiness and money expenditure for older people?
Ho: The expenditure of elderly people on leisure, savings, donations, health, does not influece their happiness.
H1: More elderly people spend their money in leisure, savings, donations, health, the more they are happy.
Variables
Leisure1stVariable
TRAVELMove away or stay: In the next 12 month,
are you likely or unlikely to move away from the city or area where you live?
2nd HealthVariable
Thinking about your life in general, please rate your level of agreement
using a five-point scale
3thStandard of LivingVariable
Are you satisfied or dissatisfied with your standard
of living,all the things you can buy or do?
4th DonationVariable
1.Donated Money: Have you done any of the following in the last month? How about donated money to a charity?
2.Sent financial help: In the past 12 months did this household send help in the form of money or goods to another individual?
Methodology• Literature review
• Sample definition : geographic area and age
• Variables definition
• Data collection from Gallup database
• Pearson correlation with SPSS software
• Interpretation of results
• Conclusions
Example of SPSS
Very Strong 0,7 < X ≤ 1Strong 0,5 < X ≤ 0,7Weak 0,2 < X ≤ 0,5Very Weak 0 < X ≤ 0,2
Applied for both negative and positive numeration
Correlation
America & Europe AfricaAsia
Happiness and Standard of Living
0,803 0,215 0,357
Very Strong Correlation Weak Correlation Weak Correlation
America & Europe
Africa
0,401 0,359 0,215
Weak Correlation Weak Correlation Weak Correlation
Asia
Happiness and Sent Financial Help
America & Europe Africa
0,803 0,181 -0,145
Very Strong Correlation Very Weak Correlation Very Weak Correlation
Asia
Happiness and Donate Money
America & Europe Africa
0,308 -0,194 0,250
Weak Correlation Very Weak Correlation Weak Correlation
Asia
Happiness and Move Away
America & Europe Africa
-0,534 -0,131 -0,176
Strong Correlation Very Weak Correlation Very Weak Correlation
Asia
Happiness and Have Enough Money (Strongly Disagree variable)
Variables America and Europe Asia Africa
Standard of Living Very Strong (+) Weak (+) Weak (+)
Have Enough Money (health) Strong (-) Very Weak (-) Very Weak (-)
Donated Money Very Strong (+) Very Weak (+) Very Weak (-)
Sent Financial Help Weak (+) Weak(+) Weak (+)
Move Away Weak (+) Very Weak (-) Weak (+)
Summary
Possible Reasons
1. Countries in Asia and Africa have lower priority to afford high quality of life;
2. American and European countries used to enjoy high life standards, so they’ tend
to be more sensitive to money;
3. The data collected from gallup, selected from 50+ respondent (there is no older
categories). In europe and america, there could be tendency to retire in older age.
Even 50-60 could still be considered as working age. Therefore, it could be unfair
to compare european and american data to other continents.
Conclusion
Ho is rejectedThere is a correlation between happines and several variables (Standard of living, have enough money
(health), donated money, move away, sent financial help) eventhough not all of variables have strong correlation
with happiness.
Thank You!
