Is it True that Money can Make You Happy?
How important is money for happiness? The answer is complicated. Research has long looked at how money can influence happiness, which is defined by psychology as emotional well-being, and how satisfied you are with the way you live.
Are you working hard for a high salary, but still feel like you can't enjoy the luxurious lifestyle?
Research has shown the salary people need to be happy, looked at why money doesn't make you as happy as you want it to be, and suggested the ideal way to spend money to feel happy. Here's what you need to know about money no matter what you build:
Most of you have heard that money doesn't buy happiness. The way you view wealth may have a big effect on how happy you are with your life.
Money can be a tool that motivates you to achieve important milestones in your life, which can make you feel happier in the long run.
The nature of materialism tends to be nuanced in society. There is a basic difference between "happiness materialism” and “success materialism.”
There is a belief that buying “happiness materialism” or wealth is an indicator of a happy life, and it tends to be problematic, as it takes up a lot of time, effort, and money from other areas of life, which makes it an important and positive contribution to current life satisfaction, such as work, family and health.
Focuses on "success materialism" — the idea that wealth signifies success, increases people's economic motivation, drives them to work, and raises their living standards.
Thinking about success through that lens can make individuals more satisfied with their current lives, and hopeful about the future.
Are you working hard for a high salary, but still feel like you can't enjoy the luxurious lifestyle?
Your desire to be as rich as a movie star doesn't seem to be diminishing. People equate money with happiness, although many famous and wealthy people have experienced relational crisis and well-being events, which you usually associate with people in the lower income categories.
However, you may have realized that drug addiction, domestic violence, drunk driving, and physical fighting do not discriminate against "famous and rich" people, yet many people still assume that money will give them happiness, immunity from worry.
Many people share a fairly common misunderstanding. They believe that having lots of money can make them happy, the more money you have, the happier you are.
Others believe that the possession of money is spiritually or socially unacceptable, and that the love of money is the root of all evil. Is any of these beliefs true? In order to answer this question, ask yourself, what does money mean to you, and how do you treat money when you have it?
Money can create strong and positive changes in the world. Money allows you to function more easily in the world, it gives you comfort in life. However, because the attachment to money is based on fear, it always gives rise to insecurities. The desire arises to have more money in order to feel more secure, and this never ends.
Security does not only come from money. Some of the people with the most money are also the ones who feel the most insecure. Does this mean you have to give up your desire to achieve wealth? Certainly not. Money is neutral, not good or bad. It is what you choose to do with that money that determines whether it will have a positive impact on society, other people, and yourself.
You might think that achievements such as marriage, education, family and status make a person happy. While money makes this achievement easier to achieve, it has less to do with happiness than it does with individual characteristics of well-being. Some psychologists believe that happiness is genetic. Other scientists say they may have discovered key areas in the brain where happiness is generated.
Although these ideas are still up for debate, you don't have to wait to start finding your inner happiness. Each of your lives is sprinkled with many chances to find happiness. Look for small things that make you laugh or smile a little. Take your time with your family and friends.
In the long term, these are treasures that will add to your happiness, not great accomplishments that give you a boost temporarily. Money by itself cannot make you happy.
True happiness results from sharing generously of yourself, your emotions, mind, and spirit, and with all those you come in contact with.
Be optimistic. Do good deeds for other people. Explore deeper resources within yourself by praying to God from your heart. Through sincere prayer, you will attain the highest achievement in life – the discovery of your eternal happiness with God. So, you must choose, happiness or money? Very rarely humans have both.
Does Money Can Buy Happiness?
Studies often present mixed findings about the relationship between income and happiness.
It's not the level of income that directly determines the level of happiness, but how you direct your income toward your goals, that can bring you happiness and satisfaction.
The point is that it is the ability to buy the things that give you personal satisfaction that matters most. These "things" may indeed be "stuff", but they can also include the ability to buy purchasing experiences (vacations, surf lessons, whatever your passion), payments for services (lawn maintenance, house cleaning, etc.) You have more time to do what you love, or engage in meaningful philanthropy.
Many people earn less than $200K, yet they feel rich and happy, even though they don't really earn that much. The dollar does have a certain value in the economic world, but the emotional desire for more of this commodity varies widely between individuals.
Eliminating Financial Anxiety
The reason money increases happiness levels so significantly is because it takes a certain amount of paycheck to feel financially secure.
Having enough money means you don't have to worry when you shop at the grocery store, go out to eat, or pay your rent.
This type of security is overlooked when you get used to it. However, remembering and appreciating the fact that you are free to buy things will make you happier, even once it's in your normal financial balance.
Basically, having enough money to buy these basic necessities will certainly increase your happiness level.
Does Money Make you Happy?
Money can actually improve your mood if you spend it on the right things. Spending money on an experience will make you happier than buying the newest gadget. Shopping gives you a huge dopamine boost while you're in the checkout line, but quickly dissipates once you take the items you bought home with you.
However, vacations, night outings, and other memorable experiences give you joy now and in the future, when you remember them, so they are a much better investment for your long-term happiness.
You'd think that since experiences bring you joy, having more money to spend on trips and nights out with you would make you happier.
Money only raises your life satisfaction to a certain income level. Once you hit a salary of around $50,000 to $100,000, your happiness doesn't increase by earning more.
So if you earn a comfortable income, one that allows you to meet basic needs and afford luxuries, you may want to focus on other aspects of your life that increase happiness.
You can Buy Happiness by doing this
The way you spend your money determines your happiness. For example, contrary to the "self-care" belief that you should splurge and "treat yourself" to material purchases, buying stuff isn't going to make you super happy. While it can be fun to shop for nicer or more expensive items, they usually aren't very satisfying once you get them.
This is due to the purchase of materials that hang around, so you get used to it. On the other hand, spending money on personal growth, relating to people and contributing to the community, it does contribute to happiness. Studies show that spending money on experiences makes you happier than things. If you spend money to help other people, or help you connect with other people, it's like having dinner with friends or traveling, even though it's not very far and very expensive, it will make you very happy.
Buy some time for yourself. A 2017 study found that when people pay for time-saving services — such as ordering takeout, cleaning your home, and outsourcing someone to run errands — they have higher levels of life satisfaction than when they buy material goods.
At a time when your habits around money management are changing, understanding what will make you happy is key.
Knowing your beliefs about money, and being open to challenging them and changing them, will be more important than ever.
Money Makes You Happy, But It's Not Everything
So while the act of making or receiving money can trigger feelings of happiness, it is important not to get stuck in addiction, there are a number of things that can bring you happiness in your life, and while money may be one of them, it is certainly not the only one.
Take your time enjoying the simple things. Find joy in things other than money, like hobbies and time with your family. Money isn't everything.
