(Video) Can Money Buy Happiness?

by  Darpan Sachdeva

Can money really buy happiness?

Income by itself is not the sole determinant of how happy people are. And excessive materialism has negative moral and psychological implications. But the influence of money on happiness cannot be neglected.

An often misunderstood 2010 study by Princeton University researchers agreed that increased income does add to “emotional well-being” up to a point. From a daily survey of 1,000 US residents, the study found an annual income of $75,000 to be the point at which further rise in income didn’t guarantee further emotional wellbeing.

This was because  the  necessities such as food, rent and clothing were basically covered with the help of money. Once these basics were not the concern ,the problems that came up further were not solvable by merely throwing money at it.

Being rich means you get to worry about everything except money.

— Johnny Cash

Then research summarized that more money buys life satisfaction but not happiness while low income is linked to both low emotional well-being and low life evaluation. Simply put, when people earn well above $75,000, they feel more satisfied with how their life has worked out. But it doesn’t stop them from being emotionally turmoiled as any body else every now and then.

In yet another research into the correlation between money and happiness, the average life satisfaction of people who live in wealthier nations are generally found to be higher than those in poorer countries. Then again, other research has found that those in poorer nations tend to find meaning in life more than their wealthier counterparts.

Another Research concluded that money does buy happiness, but only if spent on someone else. In the study, the survey found a direct correlation between the amount people spent on gifts to others and charity and an increase in their feelings of fulfillment. This still holds true even when the income was controlled.

Happiness can be bought with money. That is if you spend it right.

A lot of high-net-worth people still battle with alcohol or drug addiction, depression, and some have even ended their own lives.

Can Money Buy Happiness?

Here are  few ways to  intelligently spend money to feel that impulse of happiness within you :

1.Spending on the ways and possibilities available that liberate more time for you. More time available means more time to spend with your family, friends and loved ones.

2.Spending on Experiences versus Material things. The experiences created have a much more stronger impact on your mind and level of happiness.

3.Spending on friends, family and loved ones. This has proven to increase the level of self life satisfaction and gratitude.

4.Spending on others and those in need. We feel good about ourselves when we spend or donate on charities and for any noble cause in general. This injects in us an immediate flow of happiness.

  The video  explains how money can buy happiness, why sometimes can’t and how you can link the two together for a well rounded life.

Conclusion: 

Having money up to a certain point contributes considerably to your feelings of well-being. But beyond that point, more money doesn’t necessarily translate to a HAPPIER YOU.                                                 

However, with mindful and right spending, money can buy a whole lot of happiness.

Darpan Sachdeva is the CEO and Founder of Nobelthoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.