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How much do you need to earn to be happy in Spain? Someone has actually worked it out
A new study puts a surprisingly specific number on financial contentment, and the average Spaniard is still a long way short of it
We all know money cannot buy happiness. But most of us would quietly admit that having enough of it makes life considerably easier. Now, someone has actually tried to put a figure on exactly how much "enough" looks like in Spain, and the answer is both fascinating and, for most people, a little sobering.Researchers at Purdue University in the United States identified what they call an "income saturation point," the salary level beyond which earning more no longer makes a meaningful difference to how happy you feel. Think of it as the point where the financial worries finally go quiet. Below that threshold, more money genuinely improves your sense of wellbeing. Above it, the effect fades and life does not get noticeably better however much more you earn.
Remitly, an international money transfer platform, took that research and adjusted the figures for the cost of living in different countries and cities. For Spain, the number they arrived at is €77,192 a year. That is what it apparently takes for money to stop being a source of stress here. It is an interesting figure to consider alongside research showing that some of the happiest places in Spain, from Chipiona on the Cádiz coast to the Mar Menor towns of the Region of Murcia, consistently score highly not because of wealth but because of sunshine, community and quality of life.
The problem is that the average gross salary in Spain sits at around €29,540 a year, according to official statistics. Even on more generous estimates, most workers earn around €40,000. Which means the typical Spaniard is less than halfway to the happiness threshold, and the gap is not a small one.
Where you live makes a big difference too. Madrid is the most expensive city in Spain in which to reach that point of contentment, requiring nearly €90,000 a year. Barcelona and Palma de Mallorca follow closely behind. The pattern tracks the cost of living, especially housing, which anyone who has looked at property or rental prices in those cities recently will find entirely unsurprising. By contrast, sunnier, more affordable parts of Spain continue to perform well in broader happiness rankings, with Málaga and the Andalucían coast regularly coming out near the top.
And perhaps the most human detail in the whole study: Spaniards say they would willingly trade away 21% of their salary for a more relaxed pace of work. So even if the money were there, what many people really seem to want is a bit more time to enjoy it.
You might also be interested in: Half of Andalusian workers unhappy with pay but benefits soften the blow
Image: Pavil Danilyuk/Pexels
