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Scientific literature points out that money tends to make people happier, but not always.
An unstudied aspect of money is how our income and wellbeing relate to hope - how people think about the future.
A new study found a positive connection between money and well-being, but it is subject to various other factors.
Those making more money tended to report higher levels of life satisfaction and hope. However, the effect didn't exist for those making less than $1800 a month - this is around the poverty line for a multi-person household with children.
A higher income may cause people to be hopeful and improve their level of life satisfaction. It could also be that optimistic people make more money due to them already being hopeful.
While having enough money to live is necessary for happiness, by itself it is not enough. It appears that it is what people do with their money that increases their wellbeing.
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