describe relationship between money and hapiness
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The Relationship Between Money and Happiness
By Anna V. Haotanto -March 13, 2019
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Have you ever considered the relationship between money and happiness? This is something I’ve been thinking about recently. Are happy people happy because they have more money? Or are people who are happy simply more satisfied with what they have?
For one writer, Melissa Leong, this question was also something that needed to be answered, which she does, in a new book called Happy Go Money: Spend Smart, Save Right and Enjoy Life.
If you are like me, and the relationship between happiness and money is something that piques your curiosity, then this book may just be for you.
Let me just cover some of Leong’s salient points, and tell you what stood out to me.
Money CAN buy happiness
Surprise! I’m sure that you weren’t excepting to see that sentence at the very start of this article.
You know the old saying, “Money can’t buy you happiness.” And to a degree, we all know this is true since money can’t buy peace of mind, satisfaction, delight, or any of the feelings that come with happiness.
But Leong’s point is this: in order to be happy, we need to feel secure. And this includes financial security. Her story starts this way, when she was newly-married, her husband got depressed. And so she went on a personal journey to find out what brings happiness to people’s lives, because, as she said, she needed to be happy for both of them.
One of the things Leong was so thankful for was that her husband’s condition came at a time when they were financially secure, and so she was able to concentrate on what she needed to do for their lives, instead of needing to worry about finances at that time.
Peak Satisfaction
I love it that Leong’s points are evidence-based, taken from the latest studies on finances, psychology, happiness studies, etc. One of the studies that she cites is from Purdue University, showing that when people reach a net worth of US $65,000 to $75,000 (S $88,000 to S $101,000).
This is a level of peak satisfaction, and believe it or not, additional money after that can actually cause a decrease in happiness.
Interested in finding out more? We’ve got you covered. Check out Can Money Buy You Happiness? The Science of Buying Joy
The New Savvy -Money Savvy-The Relationship Between Money and Happiness 3
More Money, More Problems
I was pretty shocked at the Purdue Study, to be honest. But Leong explains it this way.
The people who have more money often have more work. This means they have less time for their relationships, which is a huge factor in personal happiness (more on that later). It can also mean more stress, more competition, a sharper focus on material goods instead of relationships (again) and meaningful life experiences.
As people say, the things you end up owning you, instead of you owning them