What you dish out rather than what you earn helps to determine how satisfied you are with entity, a new study says.
Research from the Office for National Statistics originate spending on hotels, restaurants and household furnishings was associated with vim satisfaction.
Unsurprisingly, spending on insurance and mobile phones was not.
But the ONS said that inclusive spending and income mattered less than personal circumstances when be up to snuff life satisfaction.
Good health, marital status and economic project had the strongest associations with how positively life satisfaction is rated.
Its opinion found that age also mattered: the young have higher effervescence satisfaction than those in their 40s but life satisfaction rises again in later years, previous falling again for those in their 80s.
Higher income boost
Residing circumstances were also important. Those who own their homes or own mortgages rate their life satisfaction more highly than those in concealed and social rented housing. Households with dependent children were also sundry likely to be satisfied than those without, the ONS found.
But while splurge is more important than income, households with an income of between £24,000 and £44,000 inclination feel more satisfied if their income increased, the ONS found.
The ONS, which is looking beyond the true GDP gauge to try to form a broader picture of the economy, said: “There is no grounds of a statistically significant association between household disposable income and vitality satisfaction overall after accounting for other characteristics [such as age, connection and employment status]”.
“You are more likely to report higher life comfort if you have higher household spending and spending appears to matter assorted than household income to people’s life satisfaction,” the ONS said.
Being retired, among other factors, also had a firm impact on life satisfaction.
Whereas being unemployed or economically somnolent due to sickness or disability had a significant negative impact, the ONS said.
Health had a beamier effect on reported life satisfaction than any other other character or circumstance in the analysis.
The odds of reporting higher life satisfaction are three controls greater for someone reporting very good health than for someone revealing fair health, the ONS said.
The odds of reporting higher life enjoyment are 5.7 times lower for someone reporting very bad health than for someone reporting free health.
Health was also important the last time the ONS looked at this undergo in 2013. The impact of someone’s marital status also appears to importance more for people’s life satisfaction than it did six years ago.
The ONS’ findings are based on two unyoke surveys; its annual population survey and a separate survey on the effects of tolls and benefits.