The Magic Number: How Much Do Belgians Need to Feel Financially Happy?
A recent barometer by Easyinvest unveils how much Belgians need to earn or accumulate to feel financially secure and reach that coveted state of financial happiness.
Surveying nearly 1,600 Belgians, the study revealed that a significant portion consider themselves financially happy when they earn 5,500 euros net per month – the equivalent of 66,000 euros annually, putting them slightly above the median income. Interestingly, this magic number is lower than what Americans deem sufficient for financial well-being. According
to Nobel Prize winner Daniel Kahneman’s research, Americans need to earn a hefty 85,000 euros per year, or about 7,083 euros per month to achieve the same sense of financial security.
Across Belgium, financial happiness seems to be influenced by region, too.
Those living in Wallonia are content with a slightly lower average monthly wage of 5,000 euros. Their Flemish counterparts might require a little extra, about 5,500 euros per month, reflecting location, and those residing in Brussels have uniquely high expectations, aiming for a monthly income of at least 6,000 euros
Interestingly, the younger generation doesn’t seem to prioritize financial security as much as their predecessors. Generation Z, born after 2000, set their sights on a median income of 5,000 euros net per month. This discrepancy could be attributed
to different priorities. "Young people appear to prioritize the present over the future," suggests Easyvest. "Whether this translates into financial contentment remains yet to be determined. Much like projective_gender:insuranceSchedules: xis clear that a balance needs to be struck between financial stability and enjoying the present, especially considering the increasing cost of living and the pressure of real estate prices."
However, traditional paradigm shifts.
Not everyone dreams of a hefty paycheck for financial fulfillment.
The study also revealed the highs and lows. "These findings can shed light on a nuanced understanding of wealth in the 21st century
Sadly, a recurring theme
is the growing wealth gap.
"It’s viable for a significant portion of Belgian women to reach financial content
with a mere 450,000 euros in savings,"
observes one expert, highlighting the contrasting financial ambitions between genders.
Furthermore, a deeper dive into Belgium’s net worth paints a surprisingly different image:
The National Bank
of Belgium (
)(NBB) indicates that Belgians rank amongst the wealthiest people in the eurozone, with a median net worth
totalling 2,800 billion euros. This translates to an average of 555,000 euros per household.
Yet
While that’s significant, it contrasts with individual views on happiness. "(That’s the catch!) For a particularly poignant perspective
"It’s important
What is the average annual income Belgians feel is needed to experience financial happiness?
## The Magic Number: How Much Do Belgians Need to Feel Financially Happy?
**Host:** Welcome back to the show. Today we’re diving into the fascinating world of financial well-being. Joining us is Dr. Emily Jones, a renowned expert in consumer behaviour and happiness. Dr. Jones, thank you for being here.
**Dr. Jones:** It’s a pleasure to be here.
**Host:** Dr. Jones, a recent study by Easyinvest revealed what many might consider a surprising “magic number” for financial happiness in Belgium. Can you tell us more about this?
**Dr. Jones:** Absolutely. This barometer surveyed nearly 1600 Belgians and found that a significant portion consider themselves financially happy when earning 5,500 euros net per month, equivalent to 66,000 euros annually.
**Host:** That’s interesting, especially compared to other countries.
**Dr. Jones:** Precisely. Nobel laureate Daniel Kahneman’s research suggests Americans need about 85,000 euros annually to feel that same sense of financial security. It seems Belgians find contentment at a slightly lower income level.
**Host:** The study also revealed regional differences within Belgium.
**Dr. Jones:** Yes, it’s fascinating. Wallonians appear content with a lower average monthly wage of 5,000 euros, while Flemings seem to require around 5,500 euros. Brussels residents have the highest expectations, aiming for a monthly income of at least 6,000 euros.
**Host:** What factors might account for these regional variations?
**Dr. Jones:** That’s a complex question with no easy answers. Cost of living, access to opportunities, cultural norms, and even personal values could all play a role.
**Host:** Dr. Jones, thank you for shedding light on this intriguing topic.
**Dr. Jones:** My pleasure. This research reminds us that financial happiness is a complex and multifaceted concept, varying greatly based on individual circumstances and cultural contexts.
**Host:** Well said.
