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Context: Researchers have studied extensively whether people with higher income are happier. But still there is a controversy among the researchers regarding the relationship between income and happiness. Few researchers have demonstrated a correlation between higher income and greater happiness (Clark, 2008 and Chicago Tribune, 2010). Whereas other found that happiness remained stagnant despite large increases in average real personal income. (Easterlin, 1974) 90 female high school teachers from private schools in Delhi and NCR were taken as a sample of the study. All the participants were equally divided into 3 groups on the basis of their income i.e. 15,000-20,000, 20,100 – 25,000 and 25,100 – 30,000 per month. Context: Researchers have studied extensively whether people with higher income are happier. But still there is a controversy among the researchers regarding the relationship between income and happiness. Few researchers have demonstrated a correlation between higher income and greater happiness (Clark, 2008 and Chicago Tribune, 2010). Whereas other found that happiness remained stagnant despite large increases in average real personal income. (Easterlin, 1974) 90 female high school teachers from private schools in Delhi and NCR were taken as a sample of the study. All the participants were equally divided into 3 groups on the basis of their income i.e. 15,000-20,000, 20,100 – 25,000 and 25,100 – 30,000 per month.