A recent study on the cost of happiness excluded Ireland from its research, so Newstalk Reporter Sarah Madden sought out the answer herself. 

Rather than asking “can money buy you happiness?”, a study by S.Money asked, “how much money in each country can buy you happiness?”. 

Measuring 178 countries, the Price of Happiness index found Iran is the most expensive country to find happiness in at €232,000, while Sierra Leone was the cheapest country at €8,000. 

Ireland, however, was not in the index, so Sarah tried to find out herself. 

“Experts estimate you’d need about €70,000 to €90,000 annually to be cheerful here,” she told The Hard Shoulder. 

“After that your happiness is going to have diminishing returns.” 

'Pint of Guinness, pack of peanuts'

To find out more, Sarah asked Irish people what makes them most happy. 

“Pint of Guinness, packet of peanuts, can’t get better than that,” one man said. 

"A sea swim is the key, they’re so worth it," one woman said.

Another person said “work-life balance” is the key to happiness. 

“It’s 6pm and I’m not in the office,” he said. 

Friends meeting for drinks in pub. Image: MBI / Alamy Stock Photo

“The definition of happiness is a little intangible, but I spoke to a pioneer in the study of happiness,” Sarah said. 

“Ruut Veenhoven is his name – he said the definition of happiness is life satisfaction and that’s something Ireland really ranks consistently high in, actually.” 

More people are now “a little bit greedy for happiness”, however, according to Sarah. 

“There are countless happiness coaches around the country and 'How to be Happy’ seminars and podcasts are becoming ever more popular,” she said. 

'Happiness is being commodified'

Science of Happiness Author Professor Brendan Kelly said wellness is a “relatively new phenomenon and it’s not even clear that it’s a good phenomenon”. 

“Happiness is being commodified – in a sense people are taking our happiness and trying to sell it back to us,” he said. 

“We have an awful lot of resources within ourselves, with our friends, within our family. 

“We don’t always need the latest happiness seminar.” 

Prof Kelly said younger people and people in relationships tend to be happier. 

“And politically the happiest people seem to be right-wing people who are certain about the world and are firm int their beliefs,” he said. 

“I think the happiest person would be a very right-wing person surrounded by left-wing people so you can have your firm belief, but everyone else around you can work to make the world a better place.”