Money Vs Happiness: 5 Things To Know

After conducting many researches on money related psychology of numerous people, scientists have found that there is a unique relationship between money and happiness. While one side of the coin bears the notion that money can make you happy, the other says that happiness cannot be obtained from possessions or gold, it in fact, dwells in the soul.

There are two great sayings by great men of the history. While Benjamin Franklin has quoted, “Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has, the more one wants.”, then on the other hand President Franklin D. Roosevelt has uttered that “Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.”

Since both of them are right in their viewpoints, you cannot tell whether money can buy happiness or one should be happy with the money he has. So lets study about money vs happiness and 5 things to be known in their respect:-

1. Cherish The Experience Not The Material

Studies conducted in the past few years suggest that in long term, we tend to find happiness in the experience we had with the material rather than the material itself. As per a recent survey, around 55% of the Americans voted that paying for experiences made them happier than buying things. People spend a lot money in travelling to dream destinations, romantic couple outings, owning a house, etc. and in turn they enjoy a unique experience. You keep on buying new things and enjoy them till they get obsolete or become worn and torn. In long run, it is actually the experience that you will remember and cherish and will feel that money paid for it was more than worth it.

Moreover, if you have planned and worked hard to purchase a new dress, phone, house, car, etc., then your will power and hard work will be the experience that will always bring a smile on your face rather than the object itself. Such experience will not only make you happy but also will make you more optimistic. You will make the right choice while spending your hard earned money.

2. Spend Your Money For Others

It has been analysed that we spent 90% of our money in satisfying our endless wants. But it is also a matter of fact that you will gain much more happiness if you spend more for others. Not only this will make them happy but also will create a positive impression for you, which will give peace and happiness to your soul.

It has also been found that people who frequently donate a part of their income for charity purpose are happier and more contented and they feel that their money is valued. The act of giving should be inculcated in children too, so that they experience happiness in every phase of life. Sharing your belongings or giving money in cash or kind will help to maintain good relations with others and can also bring a huge difference in someone’s life.

3. Time Is Precious

People who earn more money may feel that they are running short of time. They are always in a hurry to make more money to fulfill their endless wish list. Time passes like a flowing river and you need to save time for yourself and for your social life in order to be happy. If you have more money try to outsource the tasks you dislike. For outdoor works like paying the bills, getting the laundry, purchasing grocery, etc can be easily done now-a-days either with technological developments or by hiring home delivery services. It should noticed that time spent at work will not bring that amount of happiness as spending more time with your loved ones. The hard earned money is a mere waste if it cannot buy time for yourself.

Read: 13 Easy Tips To Save A Large Chunk Of Money

4. Indulge In Yourself

Accumulating more and more money can even make you a miser and being a miser will not bring happiness. You should utilise a part of the money by treating yourself and your near and dear ones with memorable experiences and purchasing materials that give a boost to your emotional well-being. Moreover, many studies reveal that if you give up your favourite snack for a week or so, then you will cherish the experience of enjoying it once again for a long time. Give a treat to yourself at regular intervals for gaining happiness from routine experiences.

5. Keep Away From Competition

Remembering Benjamin Franklin’s opinion again, money truly has no direct connection with a man’s happiness. Man is a social and selfish animal too. When you get more and more money, you tend to purchase more and more goods and you will find that your wants have no full-stop! You will be used to having more money and you will take it for granted. Your happiness from purchasing a new thing will be volatile.

Additionally, if you earn a lot, there are high chances that instead of being happy with what your earn and own, you will compete with people who have more than you own. If you buy a new home, then you may feel that it is smaller in comparison to your neighbour or friends. Your wealth will make you an egoistic person. So, your happiness depends upon your attitude towards your life and financial status. Be contented with what you have, in the hope that the best is yet to come.