Interesting Stevenson and Wolfers also find, a clear role for absolute income and a more limited role for relative income comparisons in determining happiness. So stop comparing yourselves to everyone else and be happy. This is in part due to the fact that people who have children differ on average, from those who do not have children in ways that are related to happiness such as in their marital status age. Parents who are older and who have older children tend to be happier given that they are relatively more mature and financially stable. They also feel less stress, are more fun to be around, are more optimistic, and enjoy their lives more than people who are unhappy.

Money is not everything