Can Money Buy Happiness?
It’s a common phrase, but is it actually true? Well, at the core most of you are probably very bought into the idea that money can’t find happiness. To a degree, that’s the right answer. But looking at the flip side, poverty can certainly cause unhappiness.
So let’s dig in.
Happiness is based on experiences and evaluations of those evaluations.
Having money can allow you to change some of your experiences. For example, not having to worry about how you’ll pay rent each month. Research backs that up. Money, up to a certain point, does increase happiness fairly reliably. After that point, however, the correlation gets shaky. Covering your needs is a no-brainer. After that it gets more tricky.
Having money doesn’t mean you use it to have broadly positive experiences and it doesn’t change your evaluations of experiences. In fact, having nicer experiences can lead you to evaluate other experiences more negatively.
This is where other factors start to weigh more heavily and here’s some examples:
Money might allow you to buy more healthy and convenient food, but it doesn’t mean you will
Money might allow you to have more time with friends and family (or it might eat up all your time)
Money might allow you to buy a meditation retreat, but it won’t help you build the discipline of a daily practice
I could go on and on and on and on. So in a way, money can buy some amount of happiness. And to a higher degree a ton of money can make it a lot easier to figure out happiness, but overall money can’t directly but it definitely helps.
How might you change your relationship with money to focus on happiness?
How might you spend money to be happier in the long term?
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