Would a pay rise make you happier?

Having more money is the ideal – we think of it as the key to achieving our goals and subsequently being happy – but, in reality, would a pay rise make you happier?

Many of us are dissatisfied with our salary and look forward to the day we get a raise. A recent survey suggested that the secret to happiness in modern Britain is earning £80,840 a year and living in a home worth £443,000. Men said to be truly happy they would need a wage of £96,010 while women said £68,770 would be their ideal figure. During the survey, money was also listed as the biggest barrier to achieving life goals, with 46% of people believing this to be the case.

We dream of winning the lottery and buying all the luxuries in the world you could imagine: an amazing mansion, a penthouse apartment, a flashy car, a fully loaded walk-in wardrobe and holidays galore.

But while money does impact greatly on our everyday lives, we must remember that other factors contribute significantly to our happiness. Money shouldn’t be your sole focus for achieving happiness. Life coach Liz Goodchild says, ‘I don’t think money is the answer to our happiness. It sounds a cliché, but I believe happiness lies within us, and that external sources such as money, huge houses and expensive cars, although possibly providing elements of comfort and security, are not a direct source of happiness.’

Can’t buy me love

Other factors like family, friends, relationships, social life and health contribute massively to our happiness. No matter how much money you have, if you don’t have the right the people to enjoy it with you’re not going to be happy. The company of friends and companionship of a loved one (even if that is a pet) are what makes life worthwhile. Liz agrees: ‘Health, family, friends, having a purpose and time to do the things we want to do contribute to our happiness. If we’re working 80 hours a week and earning £80,840, and yet barely have time for our hobbies or to see our family and friends, how can we truly feel happy?’

Rather than reflecting on money matters, we should instead think about the value of our health and family, both priceless elements that money can’t buy. Liz explains that we are often feel most happy when we are pursuing things in life that challenge and change us – activities like training for a marathon and learning a new language.

Credit where it’s due

‘Some people believe that money gives them this happiness, and yet money just allows us to buy things. Even if we feel happy because we can afford lavish holidays, it’s not the holiday that provides us with the happiness, but how we feel when we are on holiday – for example, relaxed, free and content.’ You may have the money to go on holiday but if you’re there to mend a broken heart or allowing your brain to run on overdrive, stressing over work commitments, you’re not going to feel happy, regardless of where you are in the world.

‘We only have to look at some of the richest people in the world,’ continues Liz. ‘They have million-dollar mansions, private jets and enough money to never have to worry again, and yet are they happy? Some are, yes, but others? No!’

How happy you feel can be dependant on your personality and your outlook on life – is your glass half full or half empty? Hopefully you’re seeing it half full! Liz explains, ‘In my work as a life coach, I have noticed that the people who appear the happiest are those who see the positive in even the most adverse situations – who aren’t afraid to fail and who grasp life with both hands, prepared to challenge themselves and grow emotionally and physically.’

Make your life richer!

If you are a pessimistic person, try some of these useful strategies to bring higher value to your life and boost your happiness
Help someone less fortunate than yourself
Do some volunteer work for your local homeless shelter or the Salvation Army. It’s good to remind yourself that there are a lot of people out there far worse off than yourself.

Get moving
Exercise releases endorphins, which make you happy. As well as improving your physique and strength it gives you time to clear your mind.

Read motivational quotes
Sounds corny, but positive quotes can really stick in your head and there are some great ones out there!

Surround yourself with positive people
Depressing people make you feel depressed. Spend more time with the optimistic people who uplift your spirits.

No one is perfect
Stop being so harsh on yourself! You’re only human. Learn from your mistakes, leave them in the past and remind yourself that you’ll do better next time.

Practise yoga
Yoga is a great way to unwind, rethink and just take time out from life.

Write down your daily achievements
You might think it’s lame but reading back and reminding yourself of your positive achievements is reassuring. It’s better to look back on the plus-points of the day rather than focusing on the negatives.
Get smart with relaxation
Try to relax with meditation apps such as Headspace and Buddhify.

Visit Liz Goodchild’s website at lizgoodchild.co.uk or follow her on Twitter.