Money and resources can buy happiness, but only to a certain extent, a new study has found. This is because a person’s perception of his social standing compared to others is more important to increasing happiness than the actual amount of money he has. The findings were from a study done by researchers from Singapore and the United States, led by SMU Assistant Professor of Psychology Jacinth Tan. Asst Prof Tan said the findings make the point that money and resources serve important psychological functions on top of basic survival, and this also affects a person’s overall wellbeing.