Why is it that we all desire to have more money?
Money can provide opportunities for us like never before. However, when we do end up with a higher income, why is it then that happiness is not necessarily a result?
The fact that we know that money can’t buy happiness doesn’t seem to help. Most people continue to have the desire to create a higher income.
I wanted to flip the notion that money doesn’t buy happiness on its head, and show you how happiness can lead to more cash in your hand.
And it’s really quite simple… let’s take a look.
Money CAN Buy You Happiness
Money can lead to happiness.
With money, you have more options. You have more choice in what you can do with your time and energy. When you are out for dinner, you can decide to go to the super-expensive restaurant and pick the most expensive meal without feeling guilty. When you are buying a new car, you are able to get the one that you have always dreamed of – brand new, in black and with all the bells and whistles you have ever dreamed of. When you need a break, why not go on that holiday to Fiji that you have always been dreaming? You have the money.
Spending money on more expensive items now is simply a form of short-term, instant gratification. Longer-term, delayed gratification can result in greater happiness.
Although I am 28 and do not have any children yet, I prefer not to spend my days blowing my cash, having expensive nights out and going on exhaustive long holidays as many others my age like to do. You’re probably asking ‘why’ as normally I talk about doing what you love and doing it more often. That is true, however I also talk a lot about having a plan in place and delaying gratification to create sustained happiness.
What makes me happy is actually knowing that I am building a life where I can support my wife and my children in the future. What makes me happy is knowing that I will be able to retire, financially sound so I can spend my old-age worry-free and enjoying the experience of watching my grandchildren grow.
It’s perceived by many that more money can help in creating this life. However, there is interesting research that has showed otherwise.
The Evidence that More Money Does NOT Lead to Increased Happiness.
Known as the world’s most influential living psychologist, Daniel Kahneman during his TED talk in 2010 makes note of studies that have shown that earning less than $60,000USD per year can have a significant effect on your happiness levels. Simply put (and apologies if this offends anyone), the less you earn under this, the more unhappy you will be. However, when it comes to earning more than $60,000USD per year, Daniel Kahneman notes that it is the flattest line he has ever seen. There is absolutely no correlation between more income and more happiness.
Here’s a little graph to show you a rough guide to what this would look like.
This is obviously a very generalised example, but it helps to convey the message. I highly recommend that you watch Daniel Kahneman’s TED talk. It has been viewed 1.3 million times at the time of writing this and explains some amazing concepts around experiences versus memories and its effect on our happiness.
Simply put, money can’t buy happiness. So why do we all strive for higher incomes when psychological studies have proven that income has little effect on happiness levels? We all have that perception that ‘I will be happier if I just had that little bit more’.
Let’s flip this concept around on its head.
How Happiness Can Help You Generate More Money
Money can’t buy you happiness… but happiness can get you more money!
A few months ago I shared with you the Happiness Model.
Quite simply, happiness leads to greater performance which can eventuate it greater rewards. Let’s refresh what the Happiness Model looks like.
The Happiness Model
Psychological studies have shown that greater happiness, wellbeing and positivity can lead to greater performance. This is through having a more optimistic and positive outlook as well as thinking with ‘clarity’.
In whatever activity you are undertaking, you are more likely to be successful when you are in this state of happiness and performing at a higher level. What does this bring? This then brings the rewards that you are after. This can be both monetary and non-monetary. Perhaps it is simple recognition from your manager at work and getting a pat on the back. Alternatively, it might lead to hitting your sales targets and achieving your bonus, or a greater prospect of getting a promotion.
The more sustained and consistent your happiness and positive outlook the greater performance and the more successful you will be in your pursuits.
In my role, I am responsible for the processes of developing and motivating the talent (people) in our workforce to ensure greater performance, productivity and overall bottom-line results. This is done through a number of methods such as:
- Providing a competitive salary
- Providing stretch targets linked to a bonus
- Creating a supportive and positive culture
- Providing a suite of benefits that cater to the individual needs of different employees
- But most importantly, providing meaningful work
If you’re coming to work engaged and excited each day then you’re going to be more productive and more successful in what it is that you’re doing.
This is no different in your personal life.
What do you spend your time doing? What are your hobbies and your interests? What excites you?
More often thvan not, the things that interest and excite you are the things that you are generally better at. This is not by chance. This is due to the fact that you’re in a more positive state of mind when you’re undertaking these activities.
To summarise the points above, if you do what you love, you will generally perform better and you will reap the rewards. Not only will you be more wealthy both in monetary and non-monetary forms, you will also be living a more fulfilling and happy life.
You have to love what you do.
Get out into the world and enjoy what’s around… there is a world of opportunity!
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.