Happy people rake in more money than unhappy counterparts!

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An Aussie economist has found that happiness actually influences one's income, with happier people getting more done at work and consequently earning more.

The man in question and author of the study, Satya Paul, professor of economics at the University of Western Sydney, said that income doesn't have a significant effect on happiness, but he had always wondered if happy people were more productive than others, and if happy people could affect their income generation through how much they worked, the Sydney Morning Herald reported.

Paul made use of the data from the Household, Income and Labour Dynamics in Australia survey, while studying the self-rated happiness levels of 9300 people between 2001 and 2005.

He said that his team found that happy people are more active, more productive and get less upset by the work.

Paul's research also revealed that there were two classes of happy workers, with first being those who preferred to work more hours because they enjoyed the work.

The second category of happy people included those who wanted to work less in order to have a better work-life balance.