ABSTRACT
‘Can money buy happiness?’ is the million-dollar question that researchers and policymakers around the world are finding the answer to. In Chapter 4, we try to answer this question in Singapore’s context with findings from the 2022 QOL Survey. We observed an upward trend between household income and both cognitive and affective aspects of wellbeing. While this indicated that money did promote happiness to a certain extent, the ebb and flow of the relationships found between income and wellbeing suggested that other important factors could be at play in driving Singaporeans’ happiness, beyond economic prosperity. We also reported some differences in Singaporeans’ economic wellbeing due to age, marital status, education and household income.
