A recent survey conducted by both UGent and NN reveals that seven out of then Belgian residents are unsatisfied with their monthly wage.
About 3,770 residents have been interviewed for this purpose. 70% of the respondents stated they were in dire need of a higher salary. The average satisfaction rate only reaches 6 on a scale from 1 to 10.
To be a bit more precise, it seems the happiest Belgian residents are those who earn about EUR 4,000-5,000 a month. Which means the richest citizens are not the happiest ones.
As a quick reminder, the average income in Belgium reached about EUR 3,329 gross a month according to the last reports.
“If Belgians with higher incomes are less satisfied with their income and their quality of life, we can conclude that the permanent desire to earn more has a negative impact on our happiness,” Professor Lieven Annemans stated. Another opportunity to think about the relationship between money and happiness.
The survey also reveals that those who save money ahead of their pension, or those who get a life insurance appear happier when asked about their monthly income.
Purchasing power is healthier than in the past. This survey is to be observed in the light of other economic figures. L’Institut pour le Développement Durable (Institute for sustainable development) published a study mid-August regarding the economic situation in Belgium.
While many people are worried about their monthly income, it is interesting to point out the fact that the purchasing power has been increasing over the last three years. And by 2020, it should be back to the pre-crisis level, though it will still be below the 2009 level.
And according to the GFK purchasing power Europe 2017 (Ranking), Belgians are the 14th richest citizens across Europe, between the French the Dutch.