Living lagom – challenging perceptions of wealth: a report by Cebr with Barclays

Publication type

Report

Author

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Publication date

Summary

There are a multitude of potential factors beyond financial wealth that feed into people’s overall sense of well-being, including health, relationships and age group. This report examines the degree to which money can – or cannot – buy happiness, by looking at the complex relationships between various aspects of people’s lives and their overall happiness or life satisfaction. In particular, it explores whether saving could be an overlooked mechanism to increase happiness.
The report further investigates whether the Swedish concept of “lagom” – meaning “just the right amount” – is also applicable to our financial lives. For example, “living lagom” could be interpreted as finding the balance between enjoying a good quality of life today while not letting longer term savings goals slip away. The research finds that applying these principles to our financial lives has the potential to significantly boost happiness and well-being.
The first part of the analysis uses data from the UK Household Longitudinal survey to establish the statistical relationships between reported life satisfaction and a range of financial variables.

Subjects

Households, Income Dynamics, Savings And Assets, Well Being and Finance

Links

Notes

Covered by over 15 media outlets

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