Money buys you the most happiness in New Jersey, study says

The saying goes, "money can't buy you happiness," but a recent study claims just the opposite!

What we know:

New Jersey took the No. 1 spot for the state where money can buy you the most happiness.

"Residents of the Garden State are living their best lives," according to Vegas Aces.

California took second place, followed by Hawaii, Massachusetts and New York.

By the numbers:

New Jersey ranked as the top state with the lowest rate of depression at 13.9 percent, an average household income of $138,153, and an average life expectancy of 79 years.

The study claims that those with "cash-seeking happiness" get the best of both worlds in New Jersey; being neighbors to major cities while living a more suburban life.

The Source: The information for this story was provided by Vegas Aces, which analyzed factors including average household incomes, life expectancy, quality of life scores, and depression rates of the 150 most populous U.S. cities. 

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