Can money buy happiness. We've heard all through our lives, "money can't buy happiness."

The more money you have, the more problems that come along with it. But, I'm pretty sure looking at the current balance of your bank account, if it's anything like mine, money would be pretty nice right now.

We can only assume that the truth about the link between money and happiness is found somewhere between those two adages. Purdue University didn’t want to assume.

They want to answer the question “Does happiness rise indefinitely with income or is there a point at which higher income no longer leads to greater well-being?” While performing their research, they determined that there is a very specific salary that Americans need to earn to be truly “happy.”

kvsan, getty images
kvsan, getty images
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How much money do you need to be happy in New Jersey?

The minimum salary in New Jersey $115,815 to be happy.

We have a high cost of living, it's 10.3 percent higher than the national average. However, according to gobankingrates.com, you can achieve emotional well-being at $66,180.

PNAS (Proceedings of the National Academy of Sciences of the United States of America,) live evaluation is “thoughts that people have about their life when they think about it.” It’s often measured by asking people to rate their life on a scale of 1-10, with one being the worst life possible for you and 10 being the best life possible for you.

khosrork, getty images
khosrork, getty images
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Studies show that those who give themselves a low number often lack access to basic needs like food, shelter and health care. They also report more feelings of pain, stress and sadness. Those who see their life as at least a 7 are optimistic that their life will get even better in the next five years and experience more happiness/enjoyment in life.

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