By the numbers: How much money do you need to be happy?

How much money would you need to be happy? Some say money can’t buy you happiness, but according to a new study it might be able to do just that.

Skandia International's Wealth Sentiment Monitor found that the global average of "happiness income" is around $161,000 for the 13 countries surveyed. Last year a different study put the optimal income for happiness in the United States at around $75,000. After that, surprisingly, more money resulted in more problems.

According to the study, Dubai residents needed the highest income to be happy. It takes more than $276,000 for them to be happy which makes sense as their summer heat average is 106 degrees, so they have to spend $200,000 on popsicles, air conditioning, and Slurpees.

RAW VIDEO: People on the street talk to Matt Gallant about money and happiness

Singapore residents came in second. They needed $227,000 to be happy.  They were followed by Hong Kong with almost $200,000.

Our friends across the pond need less money to be the happy.  The French  need $114,000, but the Germans need even less.  The study says $85,000 would make them happy.

The survey also asked how much money people would need to feel wealthy. Globally, the average was $1.8 million , but here in the U.S. most said only $1 million or more. 

Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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