Four years into a twenty-year study of the mental conditions of kids living in rural North Carolina, a quarter of the participants experienced a dramatic increase in annual income. The researchers used this opportunity to find out how that increase in wealth affected the wellbeing of the kids. What they learned is that even a little money goes a long way.
Not only did the extra income appear to lower the instance of behavioral and emotional disorders among the children, but, perhaps even more important, it also boosted two key personality traits that tend to go hand in hand with long-term positive life outcomes.
The first is conscientiousness. People who lack it tend to lie, break rules and have trouble paying attention. The second is agreeableness, which leads to a comfort around people and aptness for teamwork. And both are strongly correlated with various forms of later life success and happiness.