" Should you follow your passion or money ?" Is one of the most important questions a person will ever ask himself/herself in a lifetime because then again life satisfaction is largely dependent on 't always pay the bills. Though these two aspects merge and your passion earns you more than a hand-to-mouth living, then it's something we can call heaven on earth.

What about you? What is your top priority when looking for a new job - fulfilment or income? How hard or easy is it to strike a balance between these two?

Michael Schramm warns that "Money does not buy happiness" is wrong

For the record, Michael Schramm (he writes about all things finance) is someone who experiences legit poverty and knows how to freed from financial troubles, all the anxiety melts away.

As a child and young adult, he was used to living a low-income lifestyle that revolved around never-ending financial constraints. His family could not afford to buy green bell peppers and carefully counted every cent. Simply put, being broke is stressful.

Thus, the idea " money does not buy happiness " is highly perplexing.

He thinks that "it's a half-truth at best and an outright lie at worst. Money and happiness are bound to each other. Struggling to pay your bills, save for emergencies, and invest in your future should not be glorified as a sacrifice. It's hazardous to buy into this mentality, especially if you're looking for a job. "

Studies prove that there is a connection between happiness and income

Up to $ 75,000, of course. According to the research team from the department of psychological sciences at Purdue University, negative emotions decrease at a steady rate until income reaches a benchmark of about $ 75,000 a year per person. And this is not an exclusive proportion, there are numerous others.

However, not having enough money is often a virtue, especially between artistic and scientific circles.

" You will be poor, but your life will never be boring ." - " Jerry Saltz" by the art critic Jerry Saltz. Artists should be paid more or ... well, nobody should be poor and poverty should not be celebrated as a sacrifice for leading a meaningful life.

Money is the foundation that can be improved

Happiness goes hand in hand with income because it allows you to invest in other areas of life, such as health, hobbies, friends and relationships. For instance, you'll be in better health if you can afford good medical care, access to sports facilities and high-quality food. Friendships are also easier to maintain when you can afford some portion of your income on non-essentials (movies, eating out, etc.). And your love relationships will benefit, too - a  study by Kansas State University that arguments about money were the greatest predictor of divorce.

Everything in life is interlinked and Michael Schramm elaborates, saying that " You can not put money in." a savings account ... if the occasional splurge is entirely outside your reach."

Making a compromise is the key to happiness

Following your passion is great until you cease to enjoy your passion because your material needs are left unmet. And, believe it or not, you might even start to dislike your passion as time progresses, since unmet material needs will indirectly affect the quality of all other areas of your life. This actually should be a no-brainer, an American psychologist Abraham Maslow created Maslow's hierarchy of needs for some reason; it’s kind of difficult to focus on self-actualisation when you’re struggling to afford the most basic of basics.

Therefore, students and job seekers should think twice before pursuing a dream or passion that will leave them struggling with their bills. The best course of action would be to seek to strike a realistic balance between these two polarities.

Katarina Matiasovska writes for Inspiring Interns, which specialises in finding candidates their perfect internship. To browse our graduate jobs London listings, visit our website.