No Matter What We Earn, We Believe Our Richer Neighbors Have More to Give - Deepstash



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No Matter What We Earn, We Believe Our Richer Neighbors Have More to Give

No Matter What We Earn, We Believe Our Richer Neighbors Have More to Give
According to a new study co-authored by Yale SOM’s Gal Zauberman, people of a wide range of income levels believe that they are giving what they should to charity—but that even richer people have more spare income and a greater obligation to give.


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We think rich people should be more generous

We think rich people should be more generous

Most of us believe if we earned a bit more money, we'd have more free money to give. But the wealthier people get, the more expenses they accumulate, meaning there is not that much "spare" income.

The result is that we often pass the buck, thinking that the wealthier people, or our future, richer selves, will have the capacity to give.




A mismatch between income and perception

When we think wealthier people should donate more, we are essentially looking at our own lifestyle and comparing it to their income. We think they have abundance even if they don't feel that abundance.

The point is that everybody feels constraint to give. It's about prioritizing and giving according to your own moral standards.




Wealth Is A Relative Term

Wealth Is A Relative Term

The definition of wealth is personal. It may mean something different to everyone.

To some people, wealth is always going to mean money. But it's not t...

How Much You Need to Become Wealthy In Dollars

According to a Modern Wealth Index Survey, the amount needed to be comfortable in America is $1.4 million. To be wealthy, you'll need a net worth of $2.4 million.

An average pre-tax yearly salary of $389,436 is needed to be in the top 1%, although it varies by state.

Buying Time

We all, rich or poor, have the same 24 hours in a day. But we can use our money to buy more time. For example, by eating out, you don't have to decide what to cook, shop for ingredients, cook, and clean it all up.

If you can carve out more time for yourself, you can use it in other ways that will improve your life. You can start a side hustle, exercise, read, or spend time with family and friends.

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Income and happiness

Income and happiness

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 th...

The limit of money and well-being

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.

Money and optimism

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.

Like-Minded People

Like-Minded People

There is a natural tendency in us to become friends with people who share some ethnic, religious, or personality-based background with us, which extends to linguistic styles and creates societies t...

The Level Of Influence Of Similar Linguistic Skills

When people only see the text of the other person, which is what they usually see in online relationships, the linguistic style is the only thing that can attract them to others.

The level of influence is much greater with people who have similar linguistic skills, affecting the flow of ideas and opinions within the group.