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    Study says Filipinos need to earn Php 1.3 million annually to be happy

    MANILA, Philippines – Is your salary enough to buy you happiness?

    Apparently, you would need to earn Php 1.3 million annually in order to be fully happy based on a study conducted by consumer website Expensivity.

    Philippine money 1,000 bills
    Photo from Pixabay.

    In order to determine the “happiness premium” of over 160 countries in the world, the site used data based on a U.S. analysis by scientists from Purdue University. Figures were then adjusted using the Purchasing Power Parity conversion factor from the World Bank as well as the currency exchange rate based on TheGlobalEconomy.

    While the figure $28,264 (approximately P1.3 million) annually or at least P110,000 of earnings monthly comes as a surprise for the majority of Filipinos, the price of happiness in the Philippines is in the low end compared to other countries.

    Bermuda, which tops the list of countries with the highest price of happiness, has a happiness price tag of $143,933. The site explained that life satisfaction is expensive in Bermuda due to its high cost of living, which is 47% more expensive than New York City.

    Other countries where happiness comes at the highest cost include Australia at $135,321, Israel at $130,457, Switzerland at $128,969, New Zealand at $128, 844, Norway at $114,147, Denmark at $109, 142, Japan at $107,587, Iceland at $ 107,351, and U.S.A. at $105,000.

    Meanwhile, Suriname proved to have the cheapest cost of happiness at $6,799. However, average Surinamese income was found to be $5,540 in 2019 based on a data by Statista.com.

    “While money isn’t everything, if your environment is right, then having enough of it gives you the cushion you need to build a masterplan for being happy into your routine. Take positive action to get control of your debt, work with you community to make life livable in less than ideal conditions, and don’t believe the smiles on the faces of billionaires – their happiness leveled off a long time ago,” the website concluded.

    — Mini, The Summit Express

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