essay money doesn't bring happiness

Why Money Doesn't Buy Happiness

According to kahneman and deaton, money doesn't buy happiness. why not.

Posted August 25, 2022 | Reviewed by Michelle Quirk

• It's often said that money doesn't buy happiness, and, in a 2010 study, Kahneman and Deaton show that it doesn't.
• Nevertheless, most people apparently think that it does.
• Kahneman and Deaton found that "emotional well-being" is associated with social interaction rather than with higher income.

The old saw “money can’t buy happiness ” is often used, mostly by people who don’t have much, as a challenge to the importance of wealth in human society. But is it true? Does more money really not make people happier?

In a 2010 study, Nobel laureate Daniel Kahneman and Angus Deaton set out to answer this question. They explored two aspects of what’s known as “subjective well-being.” Importantly, they made a distinction between emotional well-being and life evaluation. Emotional well-being is defined as “…the emotional quality of an individual’s everyday experience—the frequency and intensity of experiences of joy, fascination, anxiety , sadness, anger , affection that make one’s life pleasant or unpleasant." Life evaluation “refers to a person’s thoughts about his or her life.” Here is what they found:

In the present study, we confirm the contribution of higher income to improving individuals’ life evaluation, even among those who are already well off. However, we also find that the effects of income on the emotional dimension of well-being satiate fully at an annual income of ∼$75,000… (Kahneman and Deaton, 2010, p. 16490).

In other words, getting more money makes us think our lives are better, but doesn’t make us feel any better.

To be sure, not having enough money negatively affects our emotional well-being. But once we have enough (about $75,000 in 2010), having more doesn’t positively affect it. So, while we think our lives would be better if we got a raise or hit the lottery jackpot, we’d be no happier than we were before the windfall. Now that’s interesting. Money really doesn’t buy happiness.

But why not? We think that Kahneman and Deaton’s distinction between life evaluation and emotional well-being might provide an answer.

Evolution of Emotional Well-Being

The emotions of well-being the authors identify—joy, fascination, anxiety, sadness, anger, affection—evolved over hundreds of thousands of years in hunter–gatherer bands. There was no money in these bands, of course, and, as we’ve noted in previous blogs, it was more important to use possessions as gifts than hold on to them. Well-being was having enough to eat and interacting with the other members of the band—hunting, gathering, quarreling, fighting, telling stories, dancing, healing.

However, since the agricultural revolution, human history has been in large part the story of acquisition—more land, money, possessions, power. Today, acquisition messages are all around us: Buy more and better things, get a higher-paying job. These messages address post-agricultural thinking but ignore ancient emotional needs.

Thinking about how your life is going or will go is another creation of our old friend and nemesis the neocortex. Given the obvious advantages of wealth and power after the agricultural revolution, the cortex turned them into ideas, things to aspire to, goals . Moving up was good, whether it made you happy or not.

As more and more opportunities to move up were created by the industrial revolution and the market economy, more and more people could rise. It was great to have enough—enough money, enough to eat, and a place to live. And it felt good to rise and have more status.

A Moving Goal

Unfortunately, there was an unintended consequence: The goal kept moving. There was always a better position, a better salary, higher status. Thinking about well-being became associated with making more money. When Donald Trump was asked about what money meant to him, he said “Money was never a big motivation for me, except as a way to keep score.” He didn’t mention happiness.

So, here we humans are, stuck again between ancient emotions and an environment that pushes us to achieve and acquire. As Kahneman and Deaton note in their study, when asked the question, “What made you happy yesterday,” most people emphasized time with family and friends, taking care of a relative, working on a project with others, etc. When asked what they thought would make them happier, most said, “Having more money.”

Kahneman, D. and Deaton, A. 2010. “High Income Improves Evaluation of Life, But Not Emotional Well-Being.” PNAS. September 21, 2010, vol. 107, no. 38, pp. 16489-16493.

J. Gary Bernhard, Ed.D. has been involved in educational leadership for more than 40 years. Kalman Glantz, Ph.D. has spent nearly 30 years as a psychotherapist in private practice in Boston.

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More Proof That Money Can Buy Happiness (or a Life with Less Stress)

When we wonder whether money can buy happiness, we may consider the luxuries it provides, like expensive dinners and lavish vacations. But cash is key in another important way: It helps people avoid many of the day-to-day hassles that cause stress, new research shows.

Money can provide calm and control, allowing us to buy our way out of unforeseen bumps in the road, whether it’s a small nuisance, like dodging a rainstorm by ordering up an Uber, or a bigger worry, like handling an unexpected hospital bill, says Harvard Business School professor Jon Jachimowicz.

“If we only focus on the happiness that money can bring, I think we are missing something,” says Jachimowicz, an assistant professor of business administration in the Organizational Behavior Unit at HBS. “We also need to think about all of the worries that it can free us from.”

The idea that money can reduce stress in everyday life and make people happier impacts not only the poor, but also more affluent Americans living at the edge of their means in a bumpy economy. Indeed, in 2019, one in every four Americans faced financial scarcity, according to the Board of Governors of the Federal Reserve System. The findings are particularly important now, as inflation eats into the ability of many Americans to afford basic necessities like food and gas, and COVID-19 continues to disrupt the job market.

Buying less stress

The inspiration for researching how money alleviates hardships came from advice that Jachimowicz’s father gave him. After years of living as a struggling graduate student, Jachimowicz received his appointment at HBS and the financial stability that came with it.

“My father said to me, ‘You are going to have to learn how to spend money to fix problems.’” The idea stuck with Jachimowicz, causing him to think differently about even the everyday misfortunes that we all face.

To test the relationship between cash and life satisfaction, Jachimowicz and his colleagues from the University of Southern California, Groningen University, and Columbia Business School conducted a series of experiments, which are outlined in a forthcoming paper in the journal Social Psychological and Personality Science , The Sharp Spikes of Poverty: Financial Scarcity Is Related to Higher Levels of Distress Intensity in Daily Life .

Higher income amounts to lower stress

In one study, 522 participants kept a diary for 30 days, tracking daily events and their emotional responses to them. Participants’ incomes in the previous year ranged from less than $10,000 to $150,000 or more. They found:

• Money reduces intense stress: There was no significant difference in how often the participants experienced distressing events—no matter their income, they recorded a similar number of daily frustrations. But those with higher incomes experienced less negative intensity from those events.
• More money brings greater control : Those with higher incomes felt they had more control over negative events and that control reduced their stress. People with ample incomes felt more agency to deal with whatever hassles may arise.
• Higher incomes lead to higher life satisfaction: People with higher incomes were generally more satisfied with their lives.

“It’s not that rich people don’t have problems,” Jachimowicz says, “but having money allows you to fix problems and resolve them more quickly.”

Why cash matters

In another study, researchers presented about 400 participants with daily dilemmas, like finding time to cook meals, getting around in an area with poor public transportation, or working from home among children in tight spaces. They then asked how participants would solve the problem, either using cash to resolve it, or asking friends and family for assistance. The results showed:

• People lean on family and friends regardless of income: Jachimowicz and his colleagues found that there was no difference in how often people suggested turning to friends and family for help—for example, by asking a friend for a ride or asking a family member to help with childcare or dinner.
• Cash is the answer for people with money: The higher a person’s income, however, the more likely they were to suggest money as a solution to a hassle, for example, by calling an Uber or ordering takeout.

While such results might be expected, Jachimowicz says, people may not consider the extent to which the daily hassles we all face create more stress for cash-strapped individuals—or the way a lack of cash may tax social relationships if people are always asking family and friends for help, rather than using their own money to solve a problem.

“The question is, when problems come your way, to what extent do you feel like you can deal with them, that you can walk through life and know everything is going to be OK,” Jachimowicz says.

Breaking the ‘shame spiral’

In another recent paper , Jachimowicz and colleagues found that people experiencing financial difficulties experience shame, which leads them to avoid dealing with their problems and often makes them worse. Such “shame spirals” stem from a perception that people are to blame for their own lack of money, rather than external environmental and societal factors, the research team says.

“We have normalized this idea that when you are poor, it’s your fault and so you should be ashamed of it,” Jachimowicz says. “At the same time, we’ve structured society in a way that makes it really hard on people who are poor.”

For example, Jachimowicz says, public transportation is often inaccessible and expensive, which affects people who can’t afford cars, and tardy policies at work often penalize people on the lowest end of the pay scale. Changing those deeply-engrained structures—and the way many of us think about financial difficulties—is crucial.

After all, society as a whole may feel the ripple effects of the financial hardships some people face, since financial strain is linked with lower job performance, problems with long-term decision-making, and difficulty with meaningful relationships, the research says. Ultimately, Jachimowicz hopes his work can prompt thinking about systemic change.

“People who are poor should feel like they have some control over their lives, too. Why is that a luxury we only afford to rich people?” Jachimowicz says. “We have to structure organizations and institutions to empower everyone.”

[Image: iStockphoto/mihtiander]

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A business journal from the Wharton School of the University of Pennsylvania

Does Money Buy Happiness? Here’s What the Research Says

March 28, 2023 • 5 min read.

Reconciling previously contradictory results, researchers from Wharton and Princeton find a steady association between larger incomes and greater happiness for most people but a rise and plateau for an unhappy minority.

• Finance & Accounting

The following article was originally published on Penn Today .

Does money buy happiness? Though it seems like a straightforward question, research had previously returned contradictory findings, leaving uncertainty about its answer.

Foundational work published in 2010 from Princeton University’s  Daniel Kahneman  and Angus Deaton had found that day-to-day happiness rose as annual income increased, but above $75,000 it leveled off and happiness plateaued. In contrast, work published in 2021 from the University of Pennsylvania’s  Matthew Killingsworth  found that happiness rose steadily with income well beyond $75,000, without evidence of a plateau.

To reconcile the differences, Kahneman and Killingsworth paired up in what’s known as an adversarial collaboration, joining forces with Penn Integrates Knowledge  University Professor  Barbara Mellers  as arbiter. In a new  Proceedings of the National Academy of Sciences  paper , the trio shows that, on average, larger incomes are associated with ever-increasing levels of happiness. Zoom in, however, and the relationship becomes more complex, revealing that within that overall trend, an unhappy cohort in each income group shows a sharp rise in happiness up to $100,000 annually and then plateaus.

“In the simplest terms, this suggests that for most people larger incomes are associated with greater happiness,” says Killingsworth, a senior fellow at Wharton and lead paper author. “The exception is people who are financially well-off but unhappy. For instance, if you’re rich and miserable, more money won’t help. For everyone else, more money was associated with higher happiness to somewhat varying degrees.”

Mellers digs into this last notion, noting that emotional well-being and income aren’t connected by a single relationship. “The function differs for people with different levels of emotional well-being,” she says. Specifically, for the least happy group, happiness rises with income until $100,000, then shows no further increase as income grows. For those in the middle range of emotional well-being, happiness increases linearly with income, and for the happiest group the association actually accelerates above $100,000.

Joining Forces to Ask: “Does Money Buy Happiness?”

The researchers began this combined effort recognizing that their previous work had drawn different conclusions. Kahneman’s 2010 study showed a flattening pattern where Killingsworth’s 2021 study did not. As its name suggests, an adversarial collaboration of this type — a notion originated by Kahneman — aims to solve scientific disputes or disagreements by bringing together the differing parties, along with a third-party mediator.

Killingsworth, Kahneman, and Mellers focused on a new hypothesis that both a happy majority and an unhappy minority exist. For the former, they surmised, happiness keeps rising as more money comes in; the latter’s happiness improves as income rises but only up to a certain income threshold, after which it progresses no further.

To test this new hypothesis, they looked for the flattening pattern in data from Killingworth’s study, which he had collected through an app he created called Track Your Happiness. Several times a day, the app pings participants at random moments, asking a variety of questions including how they feel on a scale from “very good” to “very bad.” Taking an average of the person’s happiness and income, Killingsworth draws conclusions about how the two variables are linked.

A breakthrough in the new partnership came early on when the researchers realized that the 2010 data, which had revealed the happiness plateau, had actually been measuring unhappiness in particular rather than happiness in general.

“It’s easiest to understand with an example,” Killingsworth says. Imagine a cognitive test for dementia that most healthy people pass easily. While such a test could detect the presence and severity of cognitive dysfunction, it wouldn’t reveal much about general intelligence since most healthy people would receive the same perfect score.

“In the same way, the 2010 data showing a plateau in happiness had mostly perfect scores, so it tells us about the trend in the unhappy end of the happiness distribution, rather than the trend of happiness in general. Once you recognize that, the two seemingly contradictory findings aren’t necessarily incompatible,” Killingsworth says. “And what we found bore out that possibility in an incredibly beautiful way. When we looked at the happiness trend for unhappy people in the 2021 data, we found exactly the same pattern as was found in 2010; happiness rises relatively steeply with income and then plateaus.”

“The two findings that seemed utterly contradictory actually result from data that are amazingly consistent,” he says.

Does It Matter Whether Money Can Buy Happiness?

Drawing these conclusions would have been challenging had the two research teams not come together, says Mellers, who suggests there’s no better way than adversarial collaborations to resolve scientific conflict.

“This kind of collaboration requires far greater self-discipline and precision in thought than the standard procedure,” she says. “Collaborating with an adversary — or even a non-adversary — is not easy, but both parties are likelier to recognize the limits of their claims.” Indeed, that’s what happened, leading to a better understanding of the relationship between money and happiness.

And these findings have real-world implications, according to Killingsworth. For one, they could inform thinking about tax rates or how to compensate employees. And, of course, they matter to individuals as they navigate career choices or weigh a larger income against other priorities in life, Killingsworth says.

However, he adds that for emotional well-being money isn’t the be all end all. “Money is just one of the many determinants of happiness,” he says. “Money is not the secret to happiness, but it can probably help a bit.”

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Research: Can Money Buy Happiness?

In his quarterly column, Francis J. Flynn looks at research that examines how to spend your way to a more satisfying life.

September 25, 2013

A boy looks at a toy train he received during an annual gift-giving event on Christmas Eve 2011. | Reuters/Jose Luis Gonzalez

What inspires people to act selflessly, help others, and make personal sacrifices? Each quarter, this column features one piece of scholarly research that provides insight on what motivates people to engage in what psychologists call “prosocial behavior” — things like making charitable contributions, buying gifts, volunteering one‘s time, and so forth. In short, it looks at the work of some of our finest researchers on what spurs people to do something on behalf of someone else.

In this column I explore the idea that many of the ways we spend money are prosocial acts — and prosocial expenditures may, in fact, make us happier than personal expenditures. Authors Elizabeth Dunn and Michael Norton discuss evidence for this in their new book, Happy Money: The Science of Smarter Spending . These behavioral scientists show that you can get more out of your money by following several principles — like spending money on others rather than yourself. Moreover, they demonstrate that these principles can be used not only by individuals, but also by companies seeking to create happier employees and more satisfying products.

According to Dunn and Norton, recent research on happiness suggests that the most satisfying way of using money is to invest in others. This can take a seemingly limitless variety of forms, from donating to a charity that helps strangers in a faraway country to buying lunch for a friend.

Witness Bill Gates and Warren Buffet, two of the wealthiest people in the world. On a March day in 2010, they sat in a diner in Carter Lake, Iowa, and hatched a scheme. They would ask America‘s billionaires to pledge the majority of their wealth to charity. Buffet decided to donate 99 percent of his, saying, “I couldn‘t be happier with that decision.”

And what about the rest of us? Dunn and Norton show how we all might learn from that example, regardless of the size of our bank accounts. Research demonstrating that people derive more satisfaction spending money on others than they do spending it on themselves spans poor and rich countries alike, as well as income levels. The authors show how this phenomenon extends over an extraordinary range of circumstances, from a Canadian college student purchasing a scarf for her mother to a Ugandan woman buying lifesaving malaria medication for a friend. Indeed, the benefits of giving emerge among children before the age of two.

Investing in others can make individuals feel healthier and wealthier, even if it means making yourself a little poorer to reap these benefits. One study shows that giving as little as $1 away can cause you to feel more flush.

Quote Investing in others can make you feel healthier and wealthier, even if it means making yourself a little poorer.

Dunn and Norton further discuss how businesses such as PepsiCo and Google and nonprofits such as DonorsChoose.org are harnessing these benefits by encouraging donors, customers, and employees to invest in others. When Pepsi punted advertising at the 2010 Superbowl and diverted funds to supporting grants that would allow people to “refresh” their communities, for example, more public votes were cast for projects than had been cast in the 2008 election. Pepsi got buzz, and the company‘s in-house competition also offering a seed grant boosted employee morale.

Could this altruistic happiness principle be applied to one of our most disputed spheres — paying taxes? As it turns out, countries with more equal distributions of income also tend to be happier. And people in countries with more progressive taxation (such as Sweden and Japan) are more content than those in countries where taxes are less progressive (such as Italy and Singapore). One study indicated that people would be happier about paying taxes if they had more choice as to where their money went. Dunn and Norton thus suggest that if taxes were made to feel more like charitable contributions, people might be less resentful having to pay them.

The researchers persuasively suggest that the proclivity to derive joy from investing in others may well be just a fundamental component of human nature. Thus the typical ratio we all tend to fall into of spending on self versus others — ten to one — may need a shift. Giving generously to charities, friends, and coworkers — and even your country — may well be a productive means of increasing well-being and improving our lives.

Research selected by Francis Flynn, Paul E. Holden Professor of Organizational Behavior at Stanford Graduate School of Business.

For media inquiries, visit the Newsroom .

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Can money buy happiness, three psychological principles to consider before you make your next purchase.

By Sarah Gervais, Associate Professor of Psychology, Social and Cognitive Program and Law-Psychology Program

11 Nov 2015

We’re all familiar with the idea that money can’t buy happiness. Yet, the reality is that we all spend money and for most of us it is a limited resource. How can we spend our hard earned dough in ways that will maximize our happiness? Psychological research offers some useful insights about the connections between money and happiness to consider before you make your next purchase.

• Being Rich Isn’t Necessarily the Path to Happiness. Money is important to happiness. Ask anyone who doesn’t have it. Having a higher income, for example, can give us access to homes in safer neighborhoods, better health care and nutrition, fulfilling work, and more leisure time. However, this only works up to a certain point. Once our income reaches a certain level and our basic needs for food, health care, safety, and shelter are met, the positive effects of money—such as buying your dream home—are often offset by the negative effects—such as working longer hours, or in more stressful jobs, to maintain that income.
• Doing Makes us Happier than Having. Most people assume that “things” will lead to more happiness than “experiences.” Physical objects—such as the latest iPhone, handbag, or car—last longer than say going to a concert, taking a cooking class, or going on vacation. Buying things does make us happy, at least in the short term. In the long-term, however, we habituate to new things and even though they may have made us excited and happy at first, eventually the item becomes the new normal and fades into the background. The happiness that comes from purchasing experiences, however, tends to increase over time. One reason is that we often share experiential purchases with other people. Even when you’ve driven that new car into the ground, you’ll still be telling stories with your family and friends about that time when you went on vacation to Colorado and you’ll even be chuckling about when the car broke down and you had to spend the night in the shady motel
• Consider Spending Money on Others. Most people think that spending money on themselves will make them happier than spending it on other people. Yet, when researchers assess happiness before and after people spend an annual bonus, people report greater happiness when they spend the bonus money on others or donate it to charity than when they spend it on themselves. This occurs regardless of how big the bonus was. One reason for this phenomenon is that giving to others makes us feel good about ourselves

So, before you pull out your wallet or click to order online, think about whether this purchase will really make you happy. If it will jeopardize your basic needs, think twice. If you have some disposable income, considering planning a trip or taking a class to learn a new skill. Finally, in this season of giving, know that if you spend your money on others or donate it to good causes, you may feel better than if you spend it on yourself.

Note: This article presents some basic principles for money and happiness. Individuals differ in their financial situation and psychological well-being. Consult a financial expert or behavioral health professional for guidance about finances and happiness.

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Money Won’t Make Your Life Meaningful

• John Coleman

Develop a purpose-driven relationship with personal finance.

A recent poll showed that Americans now value money more than patriotism, religion, community, or children. In fact, 69% of Gen Zs believe “money can buy happiness.” But as ever, money won’t make us fully happy. In fact, an improper relationship with money, one of attachment without enjoyment, can deeply handicap a person’s attempt to live a deep, meaningful human life. To flourish and craft lives of purpose, and develop a proper relationship with and attitude toward money, individuals should follow the following principles:

• Relegate money to its proper place. Money can be a great tool, but it’s not a goal in and of itself.
• Invest your money for impact.
• Choose to spend your money on experiences, not objects.
• Use your income to help others.
• Choose a job that you find meaning in, so you’re earning with purpose.
• Save for the freedom to work how and when you want as you age, not retirement.

What does money mean to you?

• JC John Coleman is the author of the HBR Guide to Crafting Your Purpose . Subscribe to his free newsletter, On Purpose , follow him on Twitter @johnwcoleman, or contact him at johnwilliamcoleman.com.

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Beyond Wealth: Exploring Why Money Cannot Bring Happiness

• December 18, 2023

Read on to explore the misconception linking wealth to genuine well-being. Through anecdotes, psychology, and real-life examples, discover actionable strategies to prioritize true fulfillment over pursuing material riches. Let’s explore why money cannot bring happiness .

In a world obsessed with the pursuit of prosperity, the idea that money is the magic ticket to happiness has embedded itself in our collective psyche. It’s like thinking a never-ending supply of chocolate will bring eternal joy – a tempting but ultimately flawed notion. However, in “Beyond Wealth: Exploring Why Money Cannot Bring Happiness ,” we’re here to challenge that sugary-sweet belief. 

Through a journey filled with relatable stories, psychological insights, and eye-opening real-life examples, this article takes a sledgehammer to the age-old notion that money cannot bring happiness . Picture it as a roadmap to a treasure trove of genuine contentment, revealing that money, on its own, is but a small piece of the happiness puzzle.

Table of Contents

Defining happiness

Happiness, often likened to the sunshine that brightens our days, is the essence of a fulfilling human life. It’s the warm embrace of contentment, the spark of joy that fuels our pursuits and the foundation of our overall well-being. Without it, life can feel like a colorless canvas, lacking the vibrancy that makes existence truly meaningful.

The widely held belief: Money buys happiness?

In the grand theater of societal beliefs, one spotlight shines particularly bright: the notion that money cannot bring happiness . It’s a tale as old as time, an idea perpetuated by generations and etched into the collective consciousness. 

Yet, like a captivating but deceptive mirage, this belief beckons us toward an oasis that may not truly quench our thirst for genuine happiness. Let’s embark on a journey to uncover the truth behind this enduring myth and prove that money cannot bring happiness .

The pursuit of wealth: A misguided quest

Welcome to the heart of our exploration of money cannot bring happiness – a journey into the quirks and complexities of the pursuit of wealth. In this section of money cannot bring happiness , we’ll unravel the cultural tapestry that intertwines success with financial fortune, shedding light on the often-overlooked facets of true fulfillment. 

Buckle up, because we’re about to embark on a ride that will challenge conventional notions and bring a fresh perspective to the pursuit of happiness.

The cultural obsession: Where gold equals glory

In a world where success is often pictured as a jackpot won in the form of cash, we’re all caught up in a razzle-dazzle illusion. It’s like expecting a single ingredient to bake a whole cake – a bit lopsided, don’t you think? This section peels back the curtain on the cultural narrative, revealing how money cannot bring happiness .

The mind games of money-making mania

Picture this: a game of emotional tug-of-war where the rope is woven from dollar bills. That’s what pursuing wealth can feel like in today’s world. The constant pressure to strike it rich? It’s akin to a never-ending race with no finish line in sight. It’s high time we break free from this mental marathon and admit that money cannot bring happiness .

The high and low notes of prosperity’s playlist

Ever heard of the rich and famous leading a not-so-happy tune? It’s like having a flashy sports car with a busted engine. We’ve got tales of titans who scaled the peaks of wealth only to find that  money cannot bring happiness . Their stories serve as a vivid reminder that a bank account with many zeroes doesn’t always translate to a contented heart and that money cannot bring happiness.

• Howard Hughes – Picture Howard Hughes as a billionaire chess player who spent more time with his mind than with the world. Despite his riches, he was tangled in a web of obsessive-compulsive quirks and paranoia. It was like having a vault full of treasures but never feeling truly free.
• Marilyn Monroe – Think of Marilyn Monroe as the dazzling starlet whose glow masked a stormy interior. She had fame and fortune but also battles with self-doubt and the rocky terrain of personal struggles. It was like owning a priceless gem, but always fearing it might shatter.
• Elvis Presley – Imagine Elvis Presley as the rock ‘n’ roll maestro who sang his heart out, but offstage, faced a different tune. He grappled with shadows of addiction and moments of solitude, like a rockstar with a backstage pass to loneliness.
• Princess Diana – Princess Diana, the crown jewel of the British monarchy, was a beacon of grace in a sea of opulence. Yet, beneath the tiaras and titles, she navigated a tempest of public scrutiny and palace politics. It was like living in a castle, yet yearning for a sanctuary.
• Kurt Cobain – Kurt Cobain, the grunge rock icon, was a lyrical genius in a world that didn’t always hear his songs. He wrestled with pain, addiction, and shadows in a life that seemed like an unfinished masterpiece.
• J.K. Rowling – J.K. Rowling’s journey from penury to Potter-mania was a literary rollercoaster. She spun magic from words, but not before dancing with the demons of depression. It was like finding a golden quill in the depths of despair.
• Mike Tyson – Mike Tyson was a boxing phenom, a champ in the ring but a contender in life’s bouts. Legal entanglements and personal tempests made his journey a heavyweight match of its own.
• Britney Spears – Britney Spears, the pop princess, danced into our hearts while facing her tempests. She was the music industry’s diamond, yet her story unfolded like a pop ballad with unexpected twists.
• Robin Williams – Robin Williams was a comedic maestro who painted laughter on the canvas of life. Yet, within the colorful strokes, he faced a darker palette of depression and addiction. It was like a stand-up set with an unseen punchline.
• Oprah Winfrey – Oprah Winfrey, the media mogul, built an empire from a foundation of adversity. Her journey was like a phoenix rising from ashes, showing that true wealth stems from inner strength.

These figures remind us that even in the gilded halls of wealth and fame, human struggles persist and that money cannot bring happiness . Like diamonds forged under pressure, their stories are a testament to the resilience of the human spirit. They teach us that money cannot bring happiness but in the heart’s treasury of contentment. In the end, it’s not about the dollars in the wallet, but the joy in the soul.

In the relentless race for riches, it’s vital to see beyond the glitter and glam. Success isn’t one-size-fits-all, and wealth is just one brushstroke on the canvas of a fulfilling life. So, let’s step off the hamster wheel of monetary mania and embrace the fact that money cannot bring happiness . After all, true wealth lies in a heart full of joy, not just a wallet full of cash.

The psychology of happiness

Definition of happiness and its components.

Happiness, my friend, is like catching a ray of sunshine on a gloomy day. It’s that warm, fuzzy feeling that dances in your heart when things just click. You know, the kind that makes you want to do a little jig in the living room?

Alright, now let’s break it down. Positive emotions are like sprinkles on the ice cream of life. They’re the little bursts of joy, gratitude, and love that make our hearts skip a beat. Imagine each positive emotion as a tiny firework, lighting up the sky of your soul.

Life satisfaction

Life satisfaction is like getting a gold star on your report card for adulting. It’s when you step back, take a look at your life, and think, “You know what? This is pretty darn awesome!” It’s that sense of achievement and contentment that makes you do a victory dance in your own little way.

Fulfilling relationships

This is like a cozy blanket on a chilly evening. They wrap you up in warmth, give you a sense of belonging, and make life’s ups and downs a whole lot easier to navigate. Think of them as your cheerleading squad, always ready to give you a high-five.

Engagement and flow

You’re so in sync with what you’re doing that time seems to fly by. It’s that feeling when you’re so engrossed in something that you forget everything else around you. You’re in the zone, and it feels fantastic!

A sense of purpose and meaning

That’s like having a treasure map to guide you through the adventure of life. It’s knowing that you’re here for a reason and that every step you take is a part of something much bigger. It’s like being the hero of your own story, with a quest that’s uniquely yours.

Taking care of your body and mind

Well, that’s like giving your favorite car a regular tune-up. You want it running smoothly, right? Eating well, moving, and getting good sleep are like the maintenance checks that keep you cruising along the highway of life. And hey, a happy mind is a turbo boost!

Personal growth and development

That’s like adding new chapters to your favorite book. It’s about setting goals, learning new things, and becoming the best version of yourself. It’s like leveling up in a game, each achievement unlocking a new power-up.

Gratitude and mindfulness

They’re like having a pair of magical glasses that help you see the beauty in everyday moments. They turn the ordinary into the extraordinary and make you appreciate the small wonders in life. It’s like finding hidden treasures in your backyard!

Altruism and giving back

Well, that’s like being a superhero with a heart of gold. It’s about using your powers for good, making the world a better place one kind act at a time. It’s like sprinkling a little bit of magic dust wherever you go.

So, my friend, happiness is a colorful, ever-changing mosaic made up of these wonderful pieces. It’s a dance, a treasure hunt, a cozy chat by the fire, and a grand adventure all rolled into one. And remember, you’re the artist of your masterpiece!

The role of intrinsic vs. extrinsic factors in achieving happiness

Remember, life’s happiness recipe calls for a pinch of extrinsic, but it’s the heaping tablespoons of intrinsic that really make it pop! So, let’s whip up a batch of joy that’s uniquely yours and find the true essence behind how money cannot bring happiness !

The hedonic treadmill: Why money cannot bring happiness

In the pursuit of happiness, the idea that accumulating wealth leads to lasting contentment is a well-trodden path. However, the concept of the hedonic treadmill challenges this notion, revealing a fascinating psychological phenomenon and find out that money cannot bring happiness .

Explanation of the hedonic adaptation phenomenon

The hedonic adaptation phenomenon is like a thermostat in your emotional well-being. No matter how high or low the temperature (in this case, life circumstances) is set, we tend to return to a baseline level of happiness. It’s as if our minds have an automatic adjustment feature, normalizing changes over time. Let’s see if it helps our theory that money cannot bring happiness . 

Case studies and examples

Consider the tale of John, who once dreamed of striking it rich and believed it would bring endless joy. When he achieved financial success, the initial euphoria was palpable. Yet, as time passed, the novelty wore off, and John found himself back on familiar emotional ground. The thrill of wealth had become the new normal and for him, money cannot bring happiness .

Similarly, the story of Emily paints a vivid picture. A sudden windfall brought her wealth beyond her wildest dreams. Yet, despite the initial surge of happiness , Emily soon found herself yearning for even more because money cannot bring happiness . The hedonic treadmill had shifted into high gear, urging her to chase an ever-elusive level of contentment.

Practical strategies to mitigate the impact of the hedonic treadmill

Mitigating the effects of the hedonic treadmill requires a conscious effort to recalibrate our perception of happiness. It’s like tuning a musical instrument to find the perfect harmony. Here are some practical strategies to help keep our emotional thermostat in check:

• Cultivate gratitude: Regularly reflecting on what we’re grateful for can help us appreciate the present moment, preventing us from constantly seeking more.
• Mindful living: Practicing mindfulness encourages us to savor experiences and find joy in the simplest of pleasures, reducing the need for constant novelty.
• Set intrinsic goals: Focusing on personal growth, meaningful relationships, and activities that align with our values can lead to a more enduring sense of fulfillment.
• Practice moderation: Embracing a balanced approach to life ensures that we don’t become overly reliant on external sources of happiness.
• Invest in experiences: Allocating resources towards experiences rather than material possessions tends to yield greater, longer-lasting satisfaction.
• Embrace novelty mindfully: While seeking new experiences can be enriching, doing so mindfully, without the expectation of perpetual happiness, can be key to avoiding the hedonic treadmill.
• Engage in acts of kindness: Acts of altruism and giving back can provide a deep sense of fulfillment and purpose, countering the treadmill’s push for more.
• Prioritize well-being: Taking care of physical and mental health contributes to an overall sense of contentment, acting as a buffer against the treadmill’s effects.

By understanding and actively addressing the influence of the hedonic treadmill, we can navigate the pursuit of happiness with greater wisdom and fulfillment. It’s like having a compass that guides us toward a more sustainable and meaningful sense of well-being.

The downside of the pursuit of wealth

The pursuit of wealth, often glamorized and celebrated, carries a shadowy underbelly – money cannot bring happiness . Beyond the glimmering facade of opulence lies a tapestry of complexities and potential pitfalls. Here, we delve into the downside of running behind money and why money cannot bring happiness .

Financial stress and anxiety

Erosion of work-life balance, diminished sense of purpose, ethical dilemmas and moral quandaries, relationship strain and isolation, diminished health and well-being.

The relentless pursuit of wealth can morph into a double-edged sword, as the pressure to accumulate riches mounts. It’s akin to a never-ending race, where the finish line continually shifts, leaving individuals trapped in a cycle of stress and anxiety. The pursuit of wealth, while promising security, can paradoxically lead to a heightened sense of financial instability.

In the fervent chase for financial success, the boundaries between work and personal life can blur into obscurity. It’s akin to a tightrope walk, where the demands of career advancement often eclipse the importance of personal relationships, leisure, and self-care. The pursuit of wealth can inadvertently erode the very foundation of a balanced and fulfilling life.

While the accumulation of wealth can provide a sense of achievement, it can also obscure the deeper quest for purpose and meaning. It’s like constructing a towering skyscraper, only to realize that the view from the top offers a hollow perspective. The pursuit of wealth, when divorced from intrinsic values, can leave individuals grappling with a sense of existential emptiness.

The pursuit of wealth may sometimes lead individuals down morally ambiguous paths. It’s akin to navigating a treacherous terrain, where the allure of financial gain can cloud one’s ethical compass. Struggles with integrity and dilemmas over right and wrong become potential byproducts of an unbridled quest for riches.

The relentless pursuit of wealth can cast a shadow over personal relationships, as time and attention are diverted towards financial endeavors. It’s like tending to a garden without realizing that the flowers need nurturing too. The pursuit of wealth, if unchecked, can sow seeds of isolation and distance from loved ones.

In the race for wealth, health and well-being may unwittingly be relegated to the backseat. It’s akin to forsaking a reliable vehicle for a high-speed train, only to realize that the journey is taking a toll on the passengers. The pursuit of wealth, without due consideration for one’s physical and mental health, can lead to a diminished overall quality of life.

In the quest for wealth, it is crucial to acknowledge and navigate these potential downsides like money cannot bring happiness . Striking a balance between financial prosperity and holistic well-being is essential in crafting a truly fulfilling and sustainable life. Remember, wealth, though valuable, is but one thread in the intricate tapestry of human flourishing.

Cultivating true happiness : Beyond material wealth

In a world that’s often chasing after shiny objects, let’s take a stroll through the garden of genuine happiness. It’s a place where laughter, connection, and personal growth bloom like vibrant flowers. Here are ways you can be happy since money cannot bring happiness . 

Strategies for cultivating happiness

Imagine a garden where every thank you is a seed. With each one, your happiness garden grows bigger and more beautiful. It’s like having a bouquet of appreciation for life’s little moments.

Mindfulness

Picture yourself in a hammock, gently swaying in the breeze. That’s what mindfulness feels like – being cradled in the present moment, soaking up the simple joys around you.

Connecting with others

Think of friendships as a garden party. Each person adds their own unique color and flair. It’s a vibrant celebration of human connection, where laughter and support bloom freely.

The importance of pursuing passions , hobbies, and personal growth

Your passions are like the rocket fuel that propels you forward. They’re the spark that ignites your inner fire, lighting up your path with purpose and excitement.

Imagine your life as a giant canvas, waiting for your brushstrokes. Hobbies are the colors that splash across it, adding depth, texture, and a whole lot of fun.

Personal growth

Think of personal growth as a treasure map, leading you to the buried treasures of your potential. It’s a grand adventure, with every step forward uncovering new jewels of self-discovery.

Fostering a balanced approach to life

Life’s mixtape.

Life’s like a mixtape – it’s got its slow jams and dance beats. Balancing work, play, rest, and personal pursuits is like creating the perfect playlist for your soul.

Fueling your body and mind

Imagine your body as a trusty sidekick, and your mind as its partner in crime-solving. Keeping them well-fed, rested, and active is like giving them the superpowers they need to conquer the day.

Embracing change

Life’s full of seasons – some sunny, some stormy. Embracing change is like putting on a stylish outfit that suits the weather. It’s about adapting and blooming, no matter what’s outside.

In this garden of true happiness, you’re the master gardener. You plant seeds of gratitude, water the flowers of your passions, and dance to the rhythm of a balanced life. As you tend to your garden, you’ll find that happiness doesn’t just grow – it flourishes, filling your days with color, laughter, and purpose. So, put on your gardening gloves, and let’s cultivate a garden of joy that’s uniquely yours and understand that money cannot bring happiness !

Real-life examples of money cannot bring happiness

While wealth is often equated with happiness, real-life examples defy this conventional wisdom and state that money cannot bring happiness . These individuals have found contentment not in opulence but in the simple pleasures of life. Their stories serve as reminders that the richness of spirit transcends material abundance.

The minimalist maverick: Joshua Fields Millburn

Joshua Fields Millburn, co-founder of The Minimalists, chose to simplify his life and embrace minimalism after a period of relentless pursuit of wealth. He discovered that true contentment lay in experiences, relationships, and personal growth, rather than in the accumulation of possessions.

The rural radiance: Masanobu Fukuoka

Masanobu Fukuoka, a Japanese farmer, and philosopher, found profound contentment in his back-to-nature approach to agriculture. Rejecting modern farming practices, he embraced a simpler, sustainable way of tending to the land. His teachings emphasized harmony with nature and yielded bountiful harvests and the fact that money cannot bring happiness .

The compassionate caretaker: Maggie Doyne

Maggie Doyne, an American humanitarian, left her affluent upbringing to dedicate herself to the welfare of orphaned children in Nepal. With limited financial resources, she established the Kopila Valley Children’s Home and School, providing shelter, education, and love to hundreds of children. Her fulfillment stems not from wealth, but from making a meaningful difference in the lives of others.

The joyful wanderer: Chris McCandless

Chris McCandless, known as “Alexander Supertramp,” embarked on a journey of self-discovery, leaving behind a comfortable life and substantial savings. His adventures and ultimate quest for solitude in the Alaskan wilderness were driven by a desire to find meaning beyond material wealth. Chris found contentment in the raw beauty of nature and the pursuit of a simpler existence.

The contented craftsman: Anwar Fazal

Anwar Fazal, a Malaysian environmentalist and social activist, dedicated his life to championing causes of social justice and environmental conservation. Despite limited financial resources, his impact was far-reaching, earning him global recognition and awards. Anwar’s contentment stemmed from his unwavering commitment to making a positive difference in the world.

The joyful artisan: Tashi Wangchuk

Tashi Wangchuk, a Tibetan entrepreneur, found contentment in preserving his cultural heritage through his handmade traditional Tibetan rugs. His craft not only sustained his modest livelihood but also contributed to the preservation of a rich cultural tradition. Tashi’s fulfillment came from the artistic expression and cultural legacy woven into each rug.

These real-life examples illuminate the profound truth that contentment is not synonymous with wealth and that money cannot bring happiness . Instead, it thrives in the embrace of simplicity, meaningful connections, and purpose-driven endeavors. These individuals have discovered that money cannot bring happiness , unbound by monetary constraints. Their stories inspire us to redefine our notions of prosperity and seek contentment in the intangible treasures that life has to offer.

In our pursuit of happiness, we’ve uncovered a truth: money cannot bring happiness . From gratitude to pursuing passions, these are the blooms that truly enrich our lives. So, let’s reframe our relationship with money, seeing it as a valuable tool but not the sole source of contentment.

Now, it’s your turn. Embrace a balanced approach to life, tending to your garden of happiness with care. Prioritize holistic well-being over the relentless pursuit of wealth, and watch as a life filled with purpose, connection, and boundless joy unfolds before you.

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The Surprising Reason Why Money Can’t Buy Happiness

Money can’t buy happiness. But why not?

After all, money has its advantages. In one study, Nobel Prize-winning scientists Daniel Kahneman and Angus Keaton looked at this question. They found that as income increases, life-satisfaction rises too.

On the role of money in his dating life, Curb Your Enthusiasm comedian Larry David, quipped , “She’s supposed to like me for myself? I don’t even like me for myself!”

Still, most of us intuitively feel money alone can’t explain happiness. Let’s look at why.

The (Un)happy Thief

Consider a scenario from a study led by Harvard cognitive scientist Jonathan Phillips:

Tom always enjoys his job as a janitor at a local community college. What he likes most about his job is how it gives him a chance to meet the young female students who are attending the community college. Almost every single day Tom feels good and generally experiences a lot of pleasant emotions. In fact, it is very rare that he would ever feel negative emotions like sadness or loneliness. When Tom thinks about his life, he always comes to the same conclusion: he feels highly satisfied with the way he lives.

The reason Tom feels this way is that every day he goes from locker to locker and steals belongings from the students and re-sells these belongings to buy himself alcohol. Each night as he’s going to sleep, he thinks about the things he will steal the next day.

Researchers presented this story to participants and asked them to rate Tom’s level of happiness. Though Tom is described as having good feelings, people felt he was not happy. Why not?

One answer is that feeling good isn’t enough to be happy. As the researchers put it, “[The] results of this study suggest that the influence of moral value on assessments of happiness is highly robust.” Put differently, most of us think that happiness involves living a moral life.

Is there any relationship between happiness, money, and morality?

Of Mice and Money

One insight involves killing mice. Economists at the University of Bonn ran a series of experiments . They wanted to know if markets would influence people’s willingness to kill a mouse for money.

In the first experiment, they presented participants with a choice. They could take 10 euros and a mouse in a laboratory would be gassed, or turn down the money and the mouse would live. Forty-six percent took the money.

In a second experiment, researchers set up a market between two people. One person was given responsibility for the life of the mouse. Another person was given 20 euros. If they reached an agreement on how to divide the money, each would receive a payment and the mouse would be killed. If they could not reach an agreement (if one or both refused to bargain) the mouse would be saved. Seventy-two percent reached an agreement, thus allowing the mouse to die.

You might feel uneasy reading this. The results suggest that individually, most of us would turn down a cash payment to do something morally questionable (or morally evil, depending on your viewpoint). But in a market environment, our moral standards loosen. Markets normalized treating the life of a mouse as a commodity to be bought and sold.

What Money Can’t Buy

Harvard philosopher Michael Sandel makes this point in his book, What Money Can’t Buy . Sandel claims that while there are many advantages to having a market economy, there are disadvantages to being a market society.

For example, would you want to live in a society in which people tattoo advertisements on their forehead in exchange for money? Maybe. Still, for many of us it seems wrong. You might think a person who would do this is not happy.

Moreover, imagine lots of people in society sold space on their bodies to corporations. We may think it would reduce the overall happiness of society. People would make money, but there is more to happiness than money.

Morals and Happiness

If not money, then what causes happiness? Consider an experiment led by psychologist Sonja Lyubomirsky about doing kind acts for others. Researchers asked people to do five kind acts one day per week for six weeks. Examples included donating blood, writing a thank-you letter, or visiting an elderly relative. People experienced a significant boost in happiness for doing kind acts for others.

You probably think happiness involves living a good life. A good life includes being a good person, a moral person. Doing good things for others will likely make you happier. If money can’t buy a good life, then money can’t buy happiness.

Last medically reviewed on April 24, 2017

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Study shows why money doesn’t bring happiness

By Diane Swanbrow News Service

The more money you earn, the more time you likely are to spend working, commuting and doing other compulsory activities that bring little pleasure, according to an article in the June 30 issue of Science that provides a novel explanation for why money doesn’t bring happiness.

For the article entitled “Would you be happier if you were richer? A focusing illusion,” Princeton University psychologist Daniel Kahneman and colleagues, including U-M psychologist Norbert Schwarz, analyze the link between money and happiness, presenting new evidence showing that what they call the focusing illusion affects how people respond when asked how happy they are or how satisfied with their lives.

“When people consider the impact of any single factor on their well-being—not only income—they are prone to exaggerate its importance,” they write.

Previous studies have shown, for example, that if people are asked about their marriage or health before they are asked how happy they are with life, their answer to the second question is linked more closely with the first question than if the question order is reversed.

“People do not know how happy or satisfied they are with their life in the way they know their height or telephone number,” the authors write. “The answers to global life satisfaction questions are constructed only when asked, and are, therefore, susceptible to the focusing of attention on different aspects of life.”

To test the power of the focusing illusion, the authors asked a sample of working women to estimate the percentage of time they were in a bad mood the previous day. Respondents also were asked to predict the percentage of time people with various life circumstances—including no health insurance and close work supervision, along with high- and low-income—typically spend in a bad mood. These predictions were compared to the actual reports of mood provided by respondents with the relevant circumstances.

Respondents overestimated the prevalence of bad mood in general, and grossly exaggerated its prevalence among people with undesirable circumstances. For example, while those with household incomes of less than $20,000 a year reported that they spent 32 percent of the previous day in a bad mood, other respondents predicted that people at that income level would spend 58 percent of their day in a bad mood.

The researchers reviewed several possible reasons why income has a weak effect on happiness, including their own explanation—as income rises, people’s time use does not appear to shift toward activities associated with improved affect.

Citing evidence from a nationwide survey conducted recently, the researchers noted that people with greater income tend to devote relatively more time to work, compulsory non-work activities (such as shopping and childcare) and active leisure (such as exercise), and less time to passive leisure (such as watching TV and just relaxing).

“When someone reflects on how more income would change subjective well-being, they are probably tempted to think about spending more time in leisurely pursuits such as watching a large-screen plasma TV or playing golf,” write the authors. “But in reality, people should think of spending a lot more time working and commuting, and a lot less time engaged in passive leisure and other enjoyable activities.”

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Money can't buy happiness, a neuroscientist explains why

We all need enough funds to cover our basic needs, but beyond that the connection between wealth and wellness is less clear.

Dean Burnett

"Money can’t buy you happiness" is either a widely accepted insight or a tired cliché. Is it right , though? Scientifically speaking, the answer is… mixed.

A recent study carried out at the University of Bath has once again looked at the relationship between income and happiness .

It seems that, up to a point and within a specific set of circumstances, money can buy happiness. But beyond that, the relationship between money and happiness becomes much looser and uncertain.

What makes us happy?

At the most immediate and fundamental levels, the things that make us happy, or at least the provoke a positive, reward response in our brains, are those that satisfy our basic biological needs. Put simply, we humans, living organisms, need many things to ensure our survival, such as food, water, air, sleep, and security. Our brain recognises these things as being ‘biologically significant’, so if we obtain them, we experience a sense of reward.

Because the human brain can make intuitive and abstract leaps, it can easily recognise that receiving money means we can now more easily obtain food/water/shelter etc. This, as a study carried out by the Wellcome Trust in 2007 found, can be both rewarding and motivational , two things that could fall under the umbrella of happiness.

However, this doesn’t mean ‘more money’ automatically means ‘more happiness’. Money may be recognised by our brains as biologically significant, but there’s an upper limit on how rewarding even biologically significant things can be. For example, eating food can often be pleasurable, but at some point you’ll be sated, after which point eating more causes actual discomfort. Same with drinking. Even things like shelter and security; build too many barriers around yourself and you can feel isolated and oppressed.

There’s also the phenomenon of habituation, where the fundamental parts of our brains learn to not react to things that occur predictably and reliably. As evidenced in a 2011 study carried out by Dr Ruth Krebbs at Ghent University, this is why things that are novel, as in surprising and unexpected, are often more rewarding than familiar things .

In many cases, the same thing happens with money. Receiving your regular pay is reassuring, but receiving unexpected money, even if it’s much less, often makes you much happier.

Also, when we actively and tangibly need it for our survival, obtaining money is very rewarding. But when we go beyond that point, when we’re ‘financially secure’ as they say, money can still be rewarding, but it’s power to make you happy is significantly reduced , a study carried out at San Francisco State University found. More psychological, experience-based stimuli (e.g. travelling, forging new relationships, helping others etc.) have a greater ability to make you happy.

Granted, in the modern world you usually need money to do all those things too, but this ultimately means money’s link to happiness is more indirect, as a means to an end, rather than directly rewarding in its own right.

Is there a threshold amount of money that can make us happy?

That there’s a certain cut-off amount of money where it stops making people has a lot of implications, particularly in the present day. With much talk of wage stagnation, rising prices, and trials of universal basic income becoming increasingly common, the question of how much money people need to be happy is an increasingly salient one.

Unfortunately, there can be no easy answer, at least not one that applies to all people equally, because the factors that determine how much money is ‘enough’ for security and happiness are highly subjective, and vary considerably from person to person.

Some people feel they’d be happy for life with surprisingly modest sums, others don’t think they’d ever feel they had ‘enough’ money. Studies carried out by researchers at the University of Bath have also found that these significant variations are even more apparent when you compare people from different cultures , suggesting the link between money and happiness is at least as much learned as it is ‘innate’.

But even within the same capitalist culture, people’s ideas about financial security can differ drastically, with people who have ample money sometimes being much less happy than those with far less money because they have more worries about.

Can too much money make us unhappy?

This introduces another factor; money can make you unhappy . Or reduce happiness in other ways. Studies have shown that being paid to do something you enjoy can make you less motivated to do it, suggesting it actively reduces potential happiness. This would explain why people are often reluctant to turn a hobby into a job, or actively regret doing so.

Also, in our modern world, money is not static. If we have more money than we strictly need, we don’t hoard a big pile of gold coins in our spare room like modern-day dragons. Money is fluid, often intangible, and typically ends up being tied up with things like investments, stocks, properties, savings accounts, and more.

All these things are subject to the whims of politico-economical factors and more, meaning the person whose money it is has less control over it and less certainty than if they’d gone for the ‘big pile of gold’ option. Loss of control and uncertainty are two reliable sources of stress and unhappiness for the human brain.

Ultimately, rather than “money can’t buy you happiness”, it might be better to say “money can buy you safety and security”, and these things make it easier for us to be happy. But there’s no direct one-to-one relation between money and happiness, and how it affects us ultimately depends on who we are and how we’ve been raised.

Read more about happiness:

• Is waving back at a stranger on a bridge a sign of happiness?
• National happiness mapped over the last 200 years
• Why does chocolate make us happy?
• Could being happier help you fight infectious disease?

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Home — Essay Samples — Philosophy — Philosophy of Life — Money Doesn’t Always Buy Happiness

Money Doesn't Always Buy Happiness

• Categories: Money and Class in America Philosophy of Life Social Justice

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Published: Mar 16, 2024

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The relationship between money and happiness, the limits of wealth, alternative paths to happiness.

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Sample essay: does money bring happiness?

by Manjusha Nambiar · Published April 7, 2014 · Updated April 23, 2024

IELTS essay prompt

Some people believe that money brings happiness; others are of the opinion that having too much money is a problem. Discuss both views and give your own opinion.

Sample response

Almost all of us are motivated by money. The only reason that most of us spend 8 to 10 hours at the workplace is to earn money. Money probably doesn’t bring happiness, but not having enough money to take care of our basic needs will seriously limit our happiness. No one wants to live in poverty and no one will lend to the poor.

Money helps us lead a comfortable life. It helps us provide the best possible education for our children. It ensures that our near and dear ones have access to medical attention whenever they need it. Having more money than you need is unlikely to increase your levels of happiness, but not having enough will definitely destroy your peace of mind.

There is a limit to the amount of money that we can spend on ourselves. Still, the richest among us have amassed wealth they or their progeny will never use in their lifetime. Still, they aren’t satisfied. They want more. That is the lure of money. It never makes people content. Those who don’t have it want to have it. Those who have it want to have even more of it. Unfortunately, in our pursuit of riches, we often forget to live. We forget to appreciate the little joys that make our lives worth living.

Having a lot of money is definitely a problem. It even threatens our safety and security and makes us the target of thieves. Look at the richest people. They can’t move around freely like you or I. They are always surrounded by their personal security guards and often live their entire lives in constant fear of getting attacked.

To conclude, money is unlikely to make us happy, but we must still earn enough. However, in our pursuit of riches, we must not lose our souls. True happiness comes from spiritual awakening. Money has hardly anything to do with it.

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IELTS Practice

Does Money Brings Happiness?

Homework: Many pepple think that money brings happiness. Do you agree with them? Why or why not? Essay: “Does money bring happiness? ” This is the question that everyone has different answers. I agree with many people about money brings happiness. Money helps us have material comforts and spiritual joy. In fact, if we have no money, we can’t buy goods, clothes, and other necessaries which we need. If we have a lot of money, we can improve our spiritual activities easily.

We can go to the movies every weekend, and we can buy any expensive gifts for the people who we love. Money helps the poor have a will-fed life. For the rich, money helps them have pure happiness because they can help the poor and the victims of disasters. It is said that: “ Money is the root of all evil. ” No, it is not true. Money is normally the fruit of labour. The question is how one spends that money. There is nothing good or evil about money. The same money which can help bring relief to the suffering millions, can be used to build up armaments.

Power decides how to spend the money.  In summary, money brings happiness only when we use it properly. The right use of money may bring us a comfortable life and a cheerful heart.

Order custom essay Does Money Brings Happiness? with free plagiarism report

Being poor can certainly bring unhappiness, but having money does not guarantee happiness. Some people assume that because extreme poverty brings extreme unhappiness that the opposite must be true. It is not. There are a lot of very unhappy very rich people.

Acquiring money can too easily become the center of life's focus and that can become an obsession. Like most obsessions, it's not a good thing. The Bible says that the love of money is a root of all kinds of evil. That seems to be a universal truth. When you love money more than anything else in life you will find that you can never get enough of it. When life only revolves around getting money you start to obsess over what it can bring you and then you lose any chance of happiness. The happiest people I know are not the richest.

They are the people who have learned to be happy with what they have and make the most of life. I have seen people made deeply miserable by poverty, but at the same time I have seen relatively poor people who are happy because they have a positive and thankful attitude about life.

We are living in the 21th century, when many new inventions have discovered. As far as I know, one of them, which has big influence over the world is internet. So do you wonder: “ Why do they like to use the Internet? ” The internet always brings a better life.

In fact, without internet people are alive and still exist but nobody can deny the benefits of the it. Firstly, it’s a source of information. People can get the latest information about weather forecast, daily events all around the world at any time as well. Before the Internet was invented, people can’t get the information as fast as now, they must watch TV programs, buy newspapers or magazines. Thanks to Internet, we can widen our knowledge in an inexpensive and convenient way. Secondly, Internet is a source of entertainment. If y feel tired of bored, y can listen to music or watch any films y like.

Moreover, many people like to play games on the Internet because they are very interesting, wonderful and this doesn’t cost as much. You can also communicate with friends or ralatives by means of e-mail or chatting. Thirdly, Internet is a good mean of education. Teachers can teach on the Internet. Students can find various kinds of tests to do. In addition, they now can use the Internet as a time – saving decide by online schools or online lessons. In conclusion, almost every aspect of our life is concerned with the Internet. It’s a wonderful invention of our modern life. It makes our world a small village.

Can Money Buy Happiness

In our society, people often put great emphasis on materials and possessions. Many believe that having more money would make them happier in life; but does money really provide true happiness? Having the money to provide food, clothing, and shelter is essential for everyone’s well-being and happiness, but after those basic needs are fulfilled more money just offers materials not necessarily happiness. There are many ways I think money does buy happiness. Money increases quality of life which in turn buys happiness.

This is only true if one lives within his means, lives a modest life style and pursues happiness the right way. I think most people believe happiness is bought in a store. People overestimate how much pleasure they’ll get when they buy something luxurious. We really don’t need all these extravagant luxuries around us. Are they necessities to life? Are they just things to show your vanity? Or are they just trying to keep up with the Jones’s? In today's materialistic world, the phrase that ‘money can't buy happiness' is tending to be proved hence otherwise.

Social research and surveys have shown results based on an individuals income, health and the political scenario which is dominant in his or her region. It is quite obvious that the gap between the privileged and the not so is growing into a great divide giving rise to different class and status, thus defining ones social circle. It should therefore be understood how an individual’s economic status affects their personal happiness throughout all aspects of life.

Many tend to refer to this age-old quote especially when they tend to belong to sector of people who can't afford the modern day luxuries of life. What they do not realize is that money, might in fact do just that, buy happiness. On the other hand, those who have pockets as heavy as themselves think that money Is nothing but a burden and a complication in life, which is too networked to figure out. First of all, a comfortable life can be brought if we are rich. Nowadays, it is not uncommon to see people complain about their low standard of living.

The low educated groups always have to worry about their living. They may worry about losing their jobs as they always work as low skilled workers. Their jobs are not stable at all. They may not be able to cope with their daily lives, let alone being happy. Under such circumstances, money can buy happiness. If they have got more money, they no longer have to worry all the time. The idea of money buying happiness is interesting. Yes, most people feel they do need more money to be happy, but what is that "happiness" they are speaking of?

If that idea means owning newer appliances than before, then money can buy you happiness. If that idea is going out to eat dinner more often, then money can buy you happiness. But, if happiness is truly living one's life to the fullest, then money cannot buy happiness. People know that this idea of happiness is materialistic and shallow, and they are quick to point it out in others, but cannot see it in themselves. Money cannot buy happiness, unless happiness is measured by possessions.

Happiness from money is very short lived. While the happiness of people who receive large sums of money might rise immediately after they receive that money, that happiness declines to only slightly above or equal to their level of happiness before the money came to them. Different people have different beliefs of what happiness really is. However, money is often the bane of happiness, as is evidenced that affluent societies are often considerably more unhappy than poorer (not necessarily poverty stricken) countries.

This is a sign that too little, or too much money is not a good thing. A balance needs to be struck between earning money and more fulfilling activities. This is because happiness is not a state to be ‘achieved’ but a virtue, and all happiness is relative. Happiness is a virtue. Happiness cannot be ‘achieved’ or ‘attained’ through earning money. Money can be seen as the opposite of happiness. The rich often wield power, due to their wealth, which in turn corrupts their morals.

Earning, Saving and Spending Money

During the olden times, the trade of goods is done through what we have known as barter. Goods are offered in exchange for another. However, in this modern time, inevitably, money serves to make everyday transactions and activities possible. Money is offered in exchange of goods and services. Money has become a necessity. With money comes along the power and freedom. Thus, it can be said that today, money has become so powerful that it has almost turned our world around. Money has become so powerful that it has controlled our lives instead of us controlling money. Money can either make or break our lives.

It can either make our life happy or miserable. But, it would be best if money would serve to make our lives better instead of making it even worse. In order to achieve this, we shall consider money management for better money earning, spending and saving. In this paper, we shall discuss how to handle money so that we can manage to control it and not to allow money to control us. We shall discuss how money is earned, spent and saved. In everyday of our lives, we work to earn money so that we can have something to provide for our needs, both at hand and in the future.

However, it has become difficult to earn money, much to earn more money to save for the future. As it is provided by the National Endowment for Financial Education in one of its articles, “Life is a challenge. As the saying goes, just when you are about to make ends meet, someone moves the ends”. From this saying, it can be said that one of the most troubling problems that men have are problems that concern finances not only on how to earn the same but even worst, on how to manage them to make both ends meet and to leave something for the rainy days.

The issue of money management starts with the earning process. We cannot manage something we do not have. So in order to make both ends meet, we should at least try to earn and find reasonable sources of income. This challenge however, can be very daunting to some as problems of unemployment, low salary levels, and even personal circumstances like the lack of education, skills, training and aptitude for job placement can hamper one’s ability to earn money.

However, I do believe that nothing can stop us from succeeding with determination, perseverance, initiative and resourcefulness. It should be remembered that we earn money not only based on employment. There are also those we call as passive income from investments and also other forms on active income from services to which the only capital we might need is patience, and industriousness. In an article fore example written by Huffstetler, he enumerated various ways on how to earn extra money using simple money making ideas.

For example, Huffstetler advised to sell things that we no longer need. This can come in different forms like setting up ma garage sale or selling these items online, one of the easiest and most effective venues where buyers and sellers meet. Try also to earn money from hobbies and activities we love to do. Reading through the rest of Hufstetler’s advice, it can be said that earning extra money is also all about creativity, and productivity. To earn money, we should always try to make the most of our time especially avoiding idled moments.

After the issue of how to earn money is settled, the question now is on how this money shall be spent. Of course, this goes along with the question on how top spend this money in order to allow savings as well. In one of the books written by an evangelist named Bo Sanchez entitled, “Simplify”, he made mention that one of the best answers to these questions is to simplify. These means that we should not live beyond our means, and try to simplify things so that unnecessary expenses should be avoided so that money can go to the savings for future and more relevant use.

Setting money goals or setting expenditure ceilings are helpful in spending and saving money. It is always best to reflect on our spending lifestyle and see if there are some expenses we can forego and evaluate each expense if they are as relevant. Setting up money goals will help to motivate and encourage saving. With the money goals that we have, we can be guided if we are overspending or that if we should try to tighten our belts to fulfil our money goals and to set some amount for the savings.

As it is oftentimes said, money is perhaps one of the bets discoveries men ever made. However, as many discoveries turned into disasters, we should not allow our poor money management skills to turn money into the evil that it has now started to become. Money is something we should to make our lives better and not to make it worst. Thus, we should evaluate our money management strategies particularly on spending and earning so that we may avoid the common fate that money controls us making our lives miserable instead of being simple and more convenient.

As it has been shown, it is very easy to control money. It all boils down to having reasonable sources of money for earnings, proper spending lifestyle and the motivation and det4ermination to save for the future. Works Cited Huffstetler, Erin. “Ways to Earn Extra Money. ” 2009. 9 June 2009 ;http://frugalliving. about. com/od/makingmoney/tp/Ways_to_Earn_Extra_Money. htm;. National Endowment for Financial Education. “Changing Your Life Through Better Money Management. ” 9 June 2009 ;http://www. managingmymoney. com/;.

Money Doesn't Bring Happiness

As u have heard many times money does not bring happiness. Happiness has to be gained. Good morning ladies, gentlemen and my fellow students I am standing before u declaring a speech on the topic does money make u happy. no doubt you've met people who appear to be trapped in an unsatisfying cycle of materialism and unhappiness. they confuse money for what is really supposed to be measured and there by maximize the wrong thing. Among other things three leave out of the equation all kinds of success in our lives, in our families lives and in our friendships life that money does not measure.

Even their work choices reflect the sad mistake of forgoing what they love doing for what brings happiness. Do we really care about one-upmanship than material comforts? hardly. What the data tells us is that richer people are happier than poorer people. The reason is because richer think that they are more successful in life but it's success not money that we really crave Money can buy so many things except for happiness. Happiness is gained when u have fun in ur life with family and friends.

That in my opinion I can do without money. Happiness is a feeling the things that make me happy are swimming playing having fun all money can do is make a person live a life in a hard way without fun. nowadays rich people spend most of their time counting money and u know time lost is never gained. In conclusion people lets live life love life and not let money get in the way of our happiness. I stand here and inform u that my opinion is that money does not make u happy . Thank u                                   THE END

Money Is Everything

To some people, this is an easy and preferred answer. It is an easy answer because it’s ideal and it gives hope. However, this idea is a common misconception and is dangerous because money is everything. Without the ability to purchase tangible items, intangible ideas would not be able to be pursued. Money is what helps people survive and pursue ideological things in life. Therefore, the misconception “money isn’t everything” is a dangerous and mistaken belief. Money is what helps people survive.

Sodapop Curtis, from The Outsiders by S.E. Hinton, quits his high school and stops his chances of getting his dream job to get more money for his family to survive and help his little brother, Ponyboy, pursue his dreams. According to Sodapop, money is essential for survival, and without it, life would be very difficult to manage. He had dropped out of school because he needed money to help put food on the table for his family and helps his family when needed. Money isn’t a luxury but a necessity in order to survive in today’s world, so the idea that money isn’t everything is a misconception.

The misbelief that money isn’t everything can result in devastating situations. A YouTube video, The Homeless Experiment, featured a man who did horrible in high school and eventually dropped out; he had thought that he did not need money do pursue ideological things. Although some people, such as Steve Jobs, may become a billionaire from dropping out, only a few actually become successful not having to chase after money. Many high school students believe in this misconception, and it may lead to dropping out to pursue a dream with false hopes.

“Money isn’t everything” is a dangerous and mistaken belief that may foster fake hopes. “Money isn’t everything” is a dangerous misconception because money is necessary to survive in the world we live in today and because it can make people believe that dreams can come true without having money. Money does not buy respect, but is needed to gain authority which comes with respect. Money isn’t everything but most things require money. Therefore, it is crucial to use money and wealth wisely.

Young People Need to Spend Less Money and Save More

Young People Need To Spend Less Money And Save More Human beings have different thoughts about their life. Some of them believe in enjoying life without considering anything, but some others believe in saving money for their future. But it is better for young people like me to save their money instead of spending it carelessly. Because young people have lots of expenses in the future, like education, unpredictable emergencies, besides that the job market is not steady. So it is better for youngers to save more and spend less.

One of the reasons that make youngers to save money and spend less is education expenses. Education is expensive so young people like me cannot totally depend on our parents to pay all the bills. We have tuition, books, maybe rent and other educational expenses to pay for. Even though our parents help us, but we have to pay part of it. So we should save some of our money for that. The other reason that saving money in youngers is better than spending it carelessly is emergency situations.

Emergencies could occur any moment. For example one of our family member may need help and we will have to give them money, or one of our parents might have an unexpected injury or serious illness and they could not go to work for some time so we must have some savings for that emergency moments in our life. Besides that there is other reason for younger people to save more and spend less and it is the oscillation of the job market. The job market is not steady, specially these days.

Due to oscillation in the job market we cannot predict what will happen next. For example one of my friend lost her job due to recession. She did not get a job for about one year and a half, but she had savings so she was able to overcome that bad situation, like paying rent, grocery, car loan and other bills. Without an income it is difficult to pay for these. It shows that if she did not have the habit of saving money, then she could not have managed hat situation. In the conclusion I must say that saving is a very good tendency for young people and it will never let a person down. You must plan a head. Youngers should know they will have expenses for their schooling, they also should know that they might be confront with an unexpected emergencies in life, besides that they know the oscillation of the job market so they must be prepared. They need to save money for these events.

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Money Doesn't Bring Happiness

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