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YOU don’t need millions to be happy. In fact, at The Happiness Institute in Australia, a couple of hundred dollars may be enough.

The institute opened its doors last year, and, since then, men and women of all ages have been paying A$200 an hour (US$140) for lessons on how to feel great.

“You can actually increase your happiness levels. That’s what we teach,” said Timothy Sharp, founder of the institute.

Experts say that only about 15 per cent of happiness comes from income, assets and other financial factors. As much as 85 per cent comes from things such as attitude, life control and relationships.

Most of us are significantly better off financially than our parents and grandparents, but happiness levels haven’t changed to reflect that.

Studies show that once the basic needs of shelter and food are met, additional wealth adds very little to happiness.

Many decades ago, the “sage of Baltimore, Maryland”, editor HL Mencken, defined wealth as earning US$100 more than your “wife’s sister’s husband.”

Behavioral economists now say part of the reason we are richer but not happier is because we compare ourselves to people better off materially.

“The argument is that if you want to be happy there’s a very simple thing you can do: Compare yourself to people who are less well off than you — poorer, smaller house, car,” said Sharp.

The Happiness Institute aims to show you how to overcome these unhappiness factors by focusing on “more than just your bank account.”

“If I compare myself to Bill Gates then I’m always going to be down,” said Sharp.

A better thing to compare with, he said, might be Kerry Packer, Australia’s richest person who has had a kidney transplant and heart surgery in recent years.