A message was conveyed by the Federal Reserve Chairman on Saturday. He told the graduates of the University of South Carolina that money could not buy person happiness.

"We all know that getting a better-paying job is one of the main reasons to go to college. But if you are ever tempted to go into a field or take a job only because the pay is high and for no other reason, be careful", said Ben Bernanke.

He added that if a person had a huge income it was exciting for him at the first time, but as the person got adjusted to your new standard of living, he/she started connecting with other people who were in the new income bracket.

It was told by Bernanke that after doing studies they found out that people who won a large lottery prize in millions of dollars said that they were more happy before winning.

From another finding, it was noticed that happy people spent most of their time with friends and family. It was seen that happy people did what they loved for a living or a hobby and had control of their lives.

It was noted that the Fed's main aim was to promote economic growth and employment. It was reported by the richer countries that they expected higher levels of satisfaction because they wanted to be healthier, have more free time when they could practice their hobbies and make their work more interesting.

He also mentioned that in richer countries few citizens were seen in deep poverty.