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Daily Mirror
Daily Mirror
Business
Luke Matthews

Study finds the minimum salary Brits need to earn each year to be happy

Ignore the old saying because it turns out money actually might be able to buy happiness - and there's a minimum salary you need to be earning to find it, according to a new study.

Raisin, an online savings solution, complied data looking at the happiest locations in the UK and the average salary of the people who live there to work out the how much we need to be earning to find happiness.

According to the research - which claims that money can buy happiness - Brits need to be bringing home a minimum of £33,864 per year to be 'truly happy'.

If you need to look for a new career to reach the wage, Raisin says occupations that earn at least £33k a year includes electricians, waste collection, opticians, lorry drivers, and some nurses.

Happiness costs more in locations like London (Getty Images/iStockphoto)

The figure is the average salary found in the top 10 happiest cities in the UK, claiming people are happiest when they are earning over £30,000 - more than the average UK salary of £29,000.

The amount you need to earn differs slightly depending on location, rising to £41,000 in London and dropping to just under £26,000 in Hereford.

However, the UK only ranks 19th on the firm's list of happiest countries - finding that happy people elsewhere in the world earn on average £64,000.

It claims Luxembourg is the happiest country, and it will cost you just over £63k a year to find it.

On an index of the best places money can buy happiness, Ireland comes in second and Singapore in third, with the US ranking sixth.

Kevin Mountford, co-founder of Raisin UK, said: "While our research suggests money can buy happiness, it’s not always the case in real life when put into action.

"Money does help ease the stresses of daily life which could mean a longer life expectancy in the long-term.

"The Raisin UK 'does money buy happiness?' research can help you decide which city across the UK and country in the world to live in to be the happiest you possibly can."

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