Ask a practical person, and he’ll tell you that money means happiness. And to an extent, it is right. Let’s be real, who doesn’t want money? But now, this notion has found backing by a study as well. It claims that money does buy happiness after all.

The study found that people, who earn $100,000 or more, gave a better “quality of life” rating than the ones who earned less than that amount.

In the online poll, which was conducted for the Business Council for Sustainable Development by Shapenz, 1066 subjects were asked to rank their “quality of life”. Options ranged from excellent, to very good, then good, fair, and lastly poor.

The results showed about 83% rating their quality of life as good or higher. This marked a 6% drop from 2008’s survey and 9% drop from 2007’s results.

All of the subjects, who earn $200,000 or more, gave an excellent or very good rating for their quality of life. On the other hand, people who earned $20,000 or less were found to give a poor or fair rating for their quality of life.