Happiness is perhaps one of the best emotions that everyone wants to feel.
It varies from one person to another, from selfless acts and family moments to professional and personal successes.
However, not everyone agrees on the things that cause joy in life.
Can money buy happiness?
Does it contribute to anyone’s happiness?
Well, you have probably come across the phrase ‘Money cannot buy happiness.’
It emerges that this statement isn’t entirely true.
Money may buy you a certain degree of life satisfaction, based on your accumulated wealth and how you plan to use it.
According to a PNAS study, people who earn a high income have increased emotional well-being.
In my case, the ability to meet my basic needs, have social ties and enjoy life experiences are essential things for my happiness and satisfaction in life.
What is the Relationship Between Happiness and Money?
The things that bring happiness to people may contain a fundamental value.
This way, it might mean they are vital to somebody but not essentially represent a fundamental value for others’ happiness.
When it comes to money, it comes with an extrinsic value. In simple terms, money comprises a real-world value.
Everybody may have a different intrinsic value to lavender’s scent.
Keep in mind that I cannot buy happiness in any store.
However, if I use money in various ways, like buying things that bring me happiness, it may add an intrinsic value to my life.
Merely put, if lavender’s smell brings joy to you, you may consider using money to purchase it in different forms and keep it in your office or home.
In the end, you may boost your happiness.
This example shows you are indirectly buying happiness with money.
Why Does Money Buy Happiness?
PNAS report denotes that the studies that indicate happiness intensifies with income are speculative.
Still, the report says that money can do the following:
It Increases Comfort
A person that earns a substantial income may have the freedom to buy items that lower suffering.
Well, this is the case when comparing a group of individuals that make a low, medium and large income.
It Gives One Control
Well, control is probably linked to the respondent’s level of happiness.
As a matter of fact, a sense of control accounts for 74% of the relationship between well-being and income as denoted by US News.
While not all people care about money, those who do says that money affects their well-being.
For instance, the group of people that earn less may be less happy if they fail to value money.
On the other hand, high-income earners may be extremely happy if they value money.
So, Money Can Sometimes Make You Happy?
In conclusion, money may not buy you happiness. However, it may help you attain happiness to a certain extent.
So, you may consider buying the things that will make you joyful.
Beyond this, you may consider finding happiness in nonfinancial things, such as thinking about good things in life or spend time with friends and family.
Else, you can engage in various activities, like mediation, yoga, tai chi, and many others.