Santa Barbara: The Priciest Place for Happiness in the US
Imagine this: happiness comes with a price tag. In Santa Barbara, California, that tag reads a whopping $162,721. Yes, you read it right. According to a recent survey, that’s the salary folks in Santa Barbara believe they need to be content. But hold on, we’ve got some good news too!
Down in Knoxville, Tennessee, happiness seems to be a bargain. People there say they can achieve bliss with an income of just $88,032. That’s a remarkable 85 percent less than what’s needed in Santa Barbara.
Now, let’s zoom out a bit. A foreign exchange provider called S Money decided to put a global spin on this happiness-budgeting adventure. They crunched numbers for 173 countries worldwide. The result? Iran takes the crown for the most expensive place to find happiness, demanding a hefty $239,700. On the flip side, Sierra Leone proves that happiness can be quite the budget-friendly experience, requiring only $8,658.
So, how does the entire USA stack up? It carries a happiness price tag of $105,000 on average, landing it in the tenth spot globally.
Why So Pricy, Santa Barbara?
What makes Santa Barbara the costliest happiness hub in the US? It’s all about the cost of living. In this coastal Californian city, living expenses shoot up to 57 percent above the national average. That, my friends, makes the happiness price tag skyrocket.
Not far behind is Honolulu, Hawaii, with a happiness salary of $148,943. The Big Apple, New York City, claims third place at $145,028, followed by San Francisco at $144,448, and Seattle, Washington, where happiness demands $134,731.
But let’s not forget the more budget-conscious happiness seekers. Knoxville, Tennessee, isn’t alone in its affordability. Cincinnati, Ohio, is the second cheapest place in the US to find contentment, needing an income of $93,398. Memphis, Tennessee, follows at $94,413, with Salt Lake City, Utah, close behind at $95,428.
Worldwide Happiness Costs
If we look beyond the US borders, Iran and Yemen lead the global happiness expense race at $239,700 and $172,140, respectively. Australia rounds out the top three with a happiness price tag of $121,191.
So, how did they figure out these happiness salaries? The clever folks at S Money consulted a Purdue University study that analyzed the connection between income and happiness. They measured what they call ‘Life Evaluation,’ which assesses how individuals view their lives. The ‘satiation point for Life Evaluation’ is the magic income number where more money no longer boosts happiness.
Now, if you’re wondering how this all fits into the bigger picture, consider this: the US is dealing with inflation, with rates creeping up to 3.7 percent. Experts blame rising gas prices for this uptick. But don’t despair; the US is still faring better than some other countries, like the UK and Australia, where inflation is currently at 6.4 percent and 6 percent, respectively.
So, while money can’t buy you love, it seems it might have a say in your happiness. Just remember, there’s a sweet spot for happiness wherever you are, whether you’re living the high life in Santa Barbara or finding joy on a budget in Knoxville.