Can money buy you happiness?

Updated
happiness - time mag
happiness - time mag

Only a third of Americans describe themselves as very happy, but Time magazine’s Jeffrey Kluger says that money, in fact, can buy you happiness.

“A little bit of extra income increases your happiness more dramatically in a wealthy country than in a poor country,” the magazine’s editor at large told msnbc’s Richard Lui. “The key is for your assets and aspirations to be in some kind of harmony.”

He explains that social media also plays a role in Americans happiness today—according to the Time article, 60% of people polled say they come away from social media feeling worse about themselves, “if you’ve got 1,000 Facebook friends they’re all streaming their good times straight into your eyeballs.”

Can money buy you happiness?

Updated