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Can money buy happiness? Study looks at what students rank as number one factor

Last Updated Sep 1, 2018 at 8:00 pm PDT

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VANCOUVER (NEWS 1130) – With students headed back to class next week, a survey is looking at what they rank as the number one factor leading to their happiness.

The results might suggest some think they can, in fact, buy happiness, with many saying personal fulfillment, friends, and a healthy lifestyle all take a back seat to financial security.

Forty-six per cent of respondents in the 2018 RBC Student Poll put money ahead of having a vision for their future, getting a job in their field, and feeling like they are fulfilling their potential.

Emily Steen with RBC says students can achieve some financial security while they’re still in school if they plan ahead.

“…Understanding what the total cost of their education is beyond tuition and books but think about housing and going out and your clothing expenses.”

She highlights the importance of student having a conversation with their parents to help.

“You know, your finances really shouldn’t be a taboo topic. They often can provide a lot of really valuable insight. You’re going to make mistakes along the way and that’s okay. Just make sure that you’re getting the help as you need it.”

The survey has found money management and financial independence were bigger stressors for students than finding a job or building and maintaining a relationship. It also found that financial stress was more┬áprevalent among young women, with 32 per cent of them saying managing their funds was a “major factor influencing stress.”