How much money you really need to earn to be happy – is your salary enough?

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It is often said that money cannot buy happiness… but that may not be strictly true. A new study has discovered the happiest cities in the UK and the impact that average salary has on happiness.

The survey, conducted by Raisin UK, analysed ONS data to identify the happiest cities and compare the average salaries in those cities.

According to the research, Winchester in Hampshire is the happiest city in the whole of the United Kingdom.

The average salary in Winchester is £35,346 a year, but the data suggests that one can live a happy life with less money than that.

In fact, the average salary of the top ten happiest UK cities is £33,864.

READ MORE: Money saving tips: How the 50-30-20 rule can help you stick to a budget

Money happy

Winchester is the happiest city in the UK (Image: GETTY)

That suggests that people in the UK are happiest if they are earning comfortably over £30,000 per year.

This is above the average UK wage of £29,000, implying that UK citizens need to earn an above average wage in order to be happy.

According to Raisin UK, some jobs that earn £33,000 per year are an electrician, binman, optician, lorry driver and even some higher paid nurses.

Lichfield in Staffordshire comes in second in the happiness rankings, with an average salary of £33,360 per annum.

The Scottish city of Perth has the lowest average salary in the top ten at £29,768, which is close to the UK average.

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Derby also comes in below £30k, with an average yearly salary of £29,895.

Unsurprisingly, the average salary in London is higher than most other places in the rankings, at £41,220, however, that is not the highest figure overall.

That honour goes to St Albans, where the average salary is a whopping £47,507.

Kevin Mountford, Co-Founder of Raisin UK, said: “Whilst our research suggests money can buy happiness it’s not always the case in real life when put into action.

“Money does help ease the stresses of daily life which could mean a longer life expectancy in the long-term.”

Best and worst places to retire

The best and worst UK cities to retire in (Image: Express)

See the full list of the UK’s top ten happiest cities according to Raisin UK below:

Winchester (£35,346)- Happiness Index: 104

Lichfield (£33,360)- Happiness Index: 100

Chichester (£31,894)- Happiness Index: 99

Cambridge (£33,225)- Happiness Index: 95

Happy piggy bank

The study suggests that Brits need around £33k per year to be happy (Image: GETTY)

St Albans (£47,507)- Happiness Index: 94

Chelmsford (£32,849)- Happiness Index: 91

Perth (£29,768)- Happiness Index: 87

Edinburgh (£33,968)- Happiness Index: 87

Derby (£29,895)- Happiness Index: 84

Bath and North East Somerset (£30,828)- Happiness Index: 82

Harry Byrne

Harry Byrne

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