Yes, money can lead to happiness, but how much debt one has should also be considered in the money-happiness equation, according to a new study from Purdue. "There has been a lot of research looking at whether and how income makes people happy in life, but few studies have examined whether debt can detract from happiness. We found that carrying student loan debt is almost as important as income in predicting financial worry and life satisfaction," says Louis Tay, an assistant professor of psychological sciences.
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