This seems to be an eternal questions that could linger from the minute currency was created until the days of our great great grandchildren. Its an ambiguous question to ponder and lead in many different directions, based on personal choices and lifestyle. Money can certainly buy lots and lots of wonderful materialistic possessions. But obviously, it could not replace memories, intimacy, friendships or experience.
To be extreme, Imagine a funny scenario: I was once asked in a relationship "What if someone gave you a million dollars, but we'd have to stop seeing each other. Would you do it?" Of course I said absolutely not! He jokingly said He'd take the money and somehow romantically find a way to see me once again and we'd run off into the sunset and live happily ever after. Although its a silly scenario, it brings up a good point. Does money buy happiness?
20 Something Finance hit the nail on the head with a feature article about the topic:
The 5 Influencing Factors Money has on Happiness1. 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.
Do you think Money buys Happiness? Have you been in any of the 5 scenarios?
Comments (11)
I strongly disagree with "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." Particularly when it comes to travel. I think spending money on experiences is far more valuable than spending it on stuff.
I also disagree with the last "no" point, and #3 is dubious. I can definitely see both sides of #1 and #2, though.
A lot of it varies with your mindset. Some of those points can be true for some people and completely off the mark for others. If you allow yourself to be controlled by money, then you're doomed to make those mistakes. If you appreciate the little things and see money as a way to supplement life and happiness, you're probably better off.
That's a really tricky question. If you don't have money, then you are stuck at home (or in no home) bored, bored, and bored, until someone does something with you. You are limited.
If you have money, you can travel, experience the world. View breathtaking things that fill you with an unsurpassed happiness and joy. If you have money, you can donate it to someone in need, which in return creates happiness for those that receive, and yourself knowing that you can help.
When you have money you can buy things that make you happy, but money itself isn't happiness.
@methodElevated@xanga - Agreed. I enjoy spending money on experiences, because thats what our memories are made of.
Money buys happiness. Go ask a hobo.
@cutesycharm@xanga - a lot of fun and meaningful things are free. many rich people are bored and don't know what to DO with all their money.
things that are free that can keep you from being bored...
- taking a walk
- singing or listening to music
- talking to friends
- volunteering
etc
money only buys temporary happiness, once it's gone or used, you're always going to want more and more.
@aznguyjeremy@xanga - Those things are meaningful for some people. Talking a walk isn't the most exciting thing where I live, since I live in the desert. I don't really have friends to talk to, so thats out. But yes, those are great free things (depending on the person who is doing them.)
Money may not buy you happiness but it can buy you a better quality of misery.
A very thoughtful article indeed! In connection with your 5th point, I’d like to share this thought. A new Princeton University study of women points to a strong connection between attitudes towards financial security and one’ssatisfaction with life. The study shows that well being is not necessarily related to the amount of money or assets you have; if you worry all the time about losing them you will be unhappy. Rather a strong sense of satisfaction comes from believing that financial stability is possible in the future. For other reflections on money and happiness, see http://www.happiness-after-midlife.com/sitesell.html.
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for me, yes. cause I'm happy whenever I get to buy stuff