ABSTRACT
Life satisfaction refers to the overall assessment of one’s quality of life, according to their chosen criteria, reflecting long-term fulfillment. More specifically, it is how people evaluate their life as a whole, rather than their current feelings. Happiness, on the other hand, often denotes a more immediate, emotional state characterized by feelings of pleasure and contentment. Life satisfaction and happiness are often referred to as two forms of well-being. This view underscores that well-being is influenced by a complex interplay of personal, social, and environmental factors and clarifies why the relationship between these aspects and income is routinely explored by scholars. As scholars show, the relationship between well-being and income is also connected to consumption. Scholars note that higher income often leads to an increased carbon footprint (see Carbon Footprint Versus Household Income). This may lead to cognitive dissonance and less well-being for people with strong environmental values, as they navigate the balancing act of allowing every individual to have their basic needs fulfilled and live a good life while not exceeding the ecological limits of the planet.
