How much you need to earn to be happy

We’re always chasing that next payrise. But this is how much you need to earn to feel happy in Australia.

They say you can’t buy happiness – but it turns out money can help prevent you from being unhappy.

According to research from money and investment education platform Expensivity earning exactly $174,800 per year will stop you from becoming unhappy in Australia.

The six-figure sum made us the second most expensive country in the world when it comes to buying happiness, with Bermuda – which has the world’s highest cost of living – in the top spot.

Happiness is cheapest in the petite South American country of Suriname. However, the local happiness premium of $6799 is still out of reach for those making the average Surinamese income of $5500.

Building on research originally conducted by US university Purdue, which found the price tag for happiness in America stands at $135,500, the Expensivity study calculated the ‘happiness premium’ for every country in the world using Purchasing Power ratios sourced from the World Bank and the local cost of living.

Australia and New Zealand both have a happiness price tag that runs into the hundreds of thousands.

Happiness in our closest neighbouring countries, Fiji and Samoa, can be found at salaries of $73,392 and $101,104 respectively.

Further afield, but popular for Aussie expats, a salary of $59,416 can buy you happiness in Singapore.

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According to the study, the top 10 countries where happiness requires the largest salaries are:

1. Bermuda at $185,738 per year

2. Australia at $174,800 per year

3. Israel at $168,324 per year

4. Switzerland at $166,411 per year

5. New Zealand at $166,249 per year

6. Norway at $147,280 per year

7. Denmark at $140,828 per year

8. Japan at $138,793 per year

9. Iceland at $138,489 per year

10. United States at $135,456 per year

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According to the study, the top ten 10 countries where happiness requires the smallest salaries are:

1. Suriname at $8,768 per year

2. Argentina at $11,318

3. Angola at $11,501

4. Kyrgyzstan at $11,599

5. Iran at $13,062

6. Zambia at $13,178

7. Sierra Leone at $13,531

8. Ethiopia at $13,767

9. Turkey at $13,846

10. Nicaragua at $14,531

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