Can Money Buy Happiness?
Can money buy happiness? It’s one of the most heavily disputed and researched questions of all time. Countless studies have been done, with each seemingly confirming the inconclusiveness of the last. I’ve researched a handful of these studies, and have concluded that there are 5 main ‘happiness influencing factors’ of money. Depending on the person, these factors may or may not have an impact on your happiness levels.
One thing does seem fairly conclusive: being poor does result in lower happiness levels.
Many of these studies contradict each other on conclusions surrounding these 5 factors (perhaps due to their study group). Let’s take a look at the arguments on both sides and then do a poll to see why you are pursuing more money. In today’s economic climate with layoffs and uncertainty about our financial futures, some introspection regarding this question is sorely needed.
The 5 Influencing Factors Money has on Happiness
1. The Money and Time Argument:
Yes: money allows you more time, and we all seek more time. This could come from having caretakers for kids, an assistant, a personal chef, etc. This control over your time leads to happiness.
No: without our busy lives comes the satisfaction of getting stuff done for ourselves. Take that away and dissatisfaction sets in. You start to lose touch with reality and become unhappy.
2. The Money and Freedom Argument
Yes: Having money allows you to essentially free yourself from the pursuit of more of it. Getting out of the game makes you happy.
No: Having a lot of money only encourages the pursuit of more of it. It’s a never-ending cycle of feeling like you’re just about to make it and then never getting there. Also, if you love your job, money can take away the satisfaction that you get from it. You start to question ‘why do I need to even work?’. As a result, you’re never happy.
3. The Money and Stuff Argument
Yes: Money allows you buy things that bring people closer together (think a backyard patio, grill, rec room). These social interactions lead to happiness. Also, some people get a lot of satisfaction from the pursuit and purchase of ‘stuff’ for themselves or others. Having the money to buy more stuff makes them happier.
No: Do you really need expensive stuff to bring people together or make you happy? And does that stuff create a mirage of friendship with others that only leaves you dissatisfied because you didn’t have the interactions before you had the money?
4. The Money and Experiences Argument
Yes: Money allows you the ability to travel, go to sporting and arts events, and experience fine dining. These things lead to positive memories, which influence happiness.
No: The experiences and the satisfaction that they produce are very short lived and don’t add any long-term value and happiness in your life.
5. The Money and Stress Argument
Yes: Having money frees you from the stress of not having money and wondering how you will pay things in the past (if you have debt), present, and future. Being free of this worry can add to your happiness.
No: Money only relieves stress up to the level of covering your basic needs. Once basic needs are covered, no further happiness is gained. Additionally, having a lot of money can actually lead to further stress because you become worried about how to manage, preserve, and grow the money.
Money and Happiness Discussion:
- Do you think money can buy happiness? Why or why not?
- Is your pursuit of more money for the purpose of gaining happiness from it?
- You’re on a personal finance site. Why are you pursuing more money? Take the poll!
Money can buy happiness
So i would say that A person who can buy a 12 acre villa, 10 exotic + Luxury cars worth billions + has a fully loaded bank account can easily buy happiness, when we wont need anything further, there's nothing which he cant buy, why cant he be happy..? So afterall, ill say, Money buys happiness.
MONEY MONEY MONEY
There is nothing money cant do or buy. For those who will argue it cant buy love that is incorrect. You take her on vacations buy her flowers take her out to eat. Everything cost money if you think about it you always have to pay for love even laying at home in bed watching tv. You got rent cable bill take out food or buy from the store. Nothing is free the more money the happier you are because it allows you to live more comfortable
Money itself can't buy happiness
I believe money itself cannot really buy happiness. But one can buy things that brings happiness. For example, one can afford expensive medicine bills to keep their loved ones from dying from a curable but expensive disease. One can enjoy a life without having to worry about cash shortage. Of course money itself cannot buy you true love and people can very well be happy being poor. But the point here is monetary affluence opens up more doors leading to happiness. Wouldn't you be happier with your loved ones on first class, heading to tropical island for vacation? Wouldn't you be happier to express your love with an expensive diamond? Money is one of things that contribute in the process of being happy though it is not a MUST item. So yes. Money can "buy," indirectly though, happiness.
Time is money
Buy experiences. The brain doesn't adapt as successfully to experiences. While things may wear out their welcome, experiences can provide increasing benefits over time. A memorable trip takes on even more luster with the passage of time. Even an unpleasant adventure may produce stories that grow in value as the years pass.
It doesn't if you're tasteless.
If you are a functional human being, and you have a hobby (or a few hobbies), you need a way to support them. Hobbies are past-times of people, a way to have fun. If you have money to support them (and more) you can advance your hobby and eventually afford to have any kind of fun you want. Well in real life "happiness" is just a word, that is an emotion. You have to ask yourself what makes you happy? For some people it might be a video game, for some it might be a bottle of exquisite whiskey, for some it might be a Lamborghini or a Bugatti. Money can't directly buy happiness, but it's the fastest way to it if you have any kind of creativity.
Yes it can
“Money can help us stay close to other people, which is perhaps the key to happiness,” writes Gretchen Rubin in her best-selling book, Happier at Home. We say that money can’t buy happiness--but if it can buy almost every one of the things that make a person feel better: security, education, health care, housing, therapy, opportunities for your children and so on.
Money helps you live with respect
The people who are poor are often disrespected in the society. They need to ask others for money, which indeed does not make a person happy. When you have money, you do not need to go and beg for money, you can still live in the society with respect, in your own house which gives you a lot of satisfaction. I have realized that life changes a lot when you have money, because you are not dependent on anyone else... You can live life like a lion.
Money and happiness
In reality money is what brings the happiness. Lots of people are saying that money can't bring happiness because you will have fake friends and fake lives or whatever, if you have friends before you get rich or hit the lotto would they then be considered as fake friends? I don't think so, and why would anyone be naive enough to fall for a fake friend and not notice. Some say the love and happiness will be fake but so what? That person is still happy right? I'm sure no one will be happy living in a dump or the streets. Take a homeless person for example, do you guys think they are happy where they are at? No food and no shelter and no where to go. Lots of people say rich people have a bad rep, there are millions of rich people and I'm very certain at least one of them don't. Wouldn't you want to get all you're loved ones the things they desire and see them happy? Wouldn't you want to get you're son or daughter a nice car or get you're daughter or girlfriend a beautiful dress? Yes those are all just luxuries that fulfills ones desire. To obtain happiness is to obtain ones desire. There are many wealthy people that have died happy, everyone just looks at the ones that didn't. Money "CAN" buy happiness.
Not Only Makes You Happy
By having all that money, you can give to charity often. With all the money you're giving, you're making others happy as well AND feeling better about yourself. You don't have to just give to charity, you can give money to shelters and food drives. You don't just have to donate to those around you, traveling will also get you to places around the world that are less privileged and to help out there too.
Money in life realistically
Ok first of all lets all be real here, it seems what everyone thinks is that money is just used to buy materialistic items or possessions. Clearly it's not all about possessions or materials, come on guys if you have money you can do many other things with it. You can help the poor, you can take your loved one or family on wonderful vacations or help save people from dying by donating money or whatever. Lets use an example here, this wont apply to everyone but its an example. So what if you're parents came from another country and before they die they've always wanted to visit their home country or visit a beautiful place before they pass, wouldn't it make you happy to grant that wish for them? It would wouldn't it? Lets use another example. Another reason why people probably say money doesn't buy happiness is because they see some celebrities having it bad through the media. Lets be real here, celebrities are people too they all don't have perfect lives just because they are wealthy and besides the media always make celebrities situation sound worse than it really is. To me I always see the media exposing all the bad situations that celebrities are in, they never show any of the good that they do do they? The media and magazines always show celebrities getting fat or divorces and drug uses. Money doesn't have to be used to buy materials or priceless possessions, you can use it for other things that MATTER MOST TO YOU.