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Interesting, Stevenson and Wolfers also find, a clear role for absolute income and a more limited role for relative income comparisons in determining happiness. So stop comparing yourselves to everyone else and be happy.

They also feel less stress, are more fun to be around, are more optimistic, and enjoy their lives more than people who are unhappy.

People don’t care about the expensive clothes you wear, how big is the house you own or the car your drive. That’s not to say that they don’t respect your achievements or possessions.