Although there are a myriad of factors which contribute to judgements surrounding the quality of life, the achievement of a sense of well being, or happiness, or life satisfaction, is a central component. While wealth can buy many things to enhance the quality of life, research suggests that there is no strong direct link between money and personal happiness. This article questions what makes people happy. Drawing on data from the Institute's Australian Living Standards Study, it examines how income and other factors, including family life and occupational status, combine to influence parents' satisfaction with their lives.