Changes in income do not affect most people's happiness, most of the time, according to a new study led by the University of Stirling.
The research, which examined levels of life satisfaction and income changes in more than 18,000 adults over a nine year period, revealed that income change is only important when individuals with specific personality characteristics experience an income loss.
Researchers at the universities of Stirling and Nottingham found that for most people happiness is likely to rest on avoiding loss, rather than aiming for continual financial gain.