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They Say Money Can’t Buy Happiness, It Can Buy Something More Important Though

They Say Money Can’t Buy Happiness, It Can Buy Something More Important Though

Money is construed differently by different people to mean different things. Some see it as a piece of paper. To some, it is synonymous to wealth. But, regardless of the perspective, we have all come to agree that money is a resource that we can use to buy goods and services.

Can Money Buy Happiness?

They say money can’t buy happiness, and to a certain degree that’s true, but poverty doesn’t bring happiness either, does it? Does money bring happiness? Typically, people who say money doesn’t buy happiness are usually the ones who never had money. Hence, why they use the “money can’t buy happiness” motto to rationalize their inability to get out of their financial struggle.

This contradictory line is fast becoming a cliché that plagues our society today. While people seek solace in this line, some even infer that money is the root of all evil. This begs the question: what is poverty? The root of all goodness?

Tell that to a homeless beggar who struggles to have a meal a day or a promising chap who has just dropped out of school all because his parents couldn’t afford to further his education due to a lack of funds, thus, having his hope of a bright future dashed. After all, how many marriages and families have been destroyed due lack of money? How many lives have been lost as a result of abject penury? The answers are countless.

And talking about happiness, it is a myth that we’ve believed in. We are so attached to the idea that happiness is achieved when everything in our life seems perfect, so we actively pursue it every day.

The shocking truth is, the term “happiness” is relative, which makes it hard to define and achieve. What might be a source of happiness for Tom might not be the same for Jim.

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In other words, the nature of human needs presents the argument that money can buy happiness as quite a paradoxical one.

If Money Can’t Buy Happiness, It Can Buy Everything Else.

money can't buy happiness

    Food, shelter, health care, clothing, education, and to a certain degree, even relationships. If money can get you all of these things at your disposal, what more could you wish for?

    In their interesting research paper titled, “If Money Doesn’t Make You Happy, Then You Probably Aren’t Spending Right”, Elizabeth Dunn, Daniel Gilbert, and Timothy Wilson pointed out eight rules to help “buyers” achieve more happiness for their money. Find the summary of the rules below:

    Buy more experiences and fewer material goods

    Happiness derived from experiences is long-lived and tends to last a lifetime with us, unlike material things that we get used to or bored of quickly and want to replace.

    Use your money to benefit others rather than yourself

    As humans, our associations with our fellow beings is a contributing factor of our happiness. There is always this happy feeling and contentment that one gets after spending money on others. To help others, you can give back to charity, sponsor scholarship programs, or donate to NGOs.

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    Booker T. Washington said, “Those who are happiest are those who do the most for others.”

    Buy small pleasures rather than fewer large ones

    The degree that happiness is derived is not necessarily a function of the amount spent on big things. A suit might cost 10 times more than a shirt and a pair of pants, but that doesn’t mean the pleasure or utility derived from such a splurge will be 10 times more.

    So why spend so much on a big vacation once a year, when you can spend less on picnics every quarter of the year and get more experiences in the process?

    Eschew extended warranties and other forms of overpriced insurance

    Buying extended warranties and expensive insurance is a result of the fear of the unknown.

    In fact, people who buy too much insurance tend to be unhappier than those who don’t. Buy less, worry less!

    Delay consumption

    Anticipation of the consumption of a good or service alone can be a source of pleasure. As a matter of fact, this pleasure often overshadows the pleasure derived from the actual consumption.

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    Consider how peripheral features of your purchases may affect your day-to-day

    At times, it is better for consumers to be more realistic in their anticipation for a purchase. Looking beyond the fanciful features often helps prevent any unnecessary unhappiness that may arise in future.

    Beware of comparison shopping

    Comparison shopping can bring about a misconception in the actual intent of shopping. This is because consumers may get distracted from the qualities of the product that will bring them pleasure and settle for the wrong product. Technically, they end up buying unhappiness with their money.

    Pay close attention to the happiness of others

    Sometimes, the true definition of our happiness may lie in the hands of other people. As stated by the authors, “Research suggests that the best way to predict how much we will enjoy an experience is to see how much someone else enjoyed it.”

    Money can at least buy us freedom, which is just as important as happiness.

    money can't buy happiness

      One of the most significant roles that money can play in one’s life is that it makes you less indebted to those who possess it – it brings about independence.

      This must be what William Faulkner saw when he decided to resign from the Oxford, Mississippi. With enough cash in hand, you can do what you want, get what you want, and go where you want. Yes, it sounds good, but there is a downside as well.

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      As much as money can bring liberation, people can still easily be enslaved to it. When people are slaves to their money, they tend to panic about losing their money. They start to worry about futuristic uncertainties (thus, creating problems where there are none). In fact, their relationships with their family and friends begin to go weary.

      This has led us to another pertinent question: Who is better between a well-fed slave and a hungry free man?

      Albert Camus gave his answer when he said, “It’s better to be a free pauper than a rich slave.” He went further to say, “People want to be rich and free and because of, that they become poor slaves.”

      The point is, freedom is not just free. It unavoidably has a price attached to it, but that doesn’t mean you’ll need a million dollars to acquire it. Having money doesn’t necessarily make you happy, but it increases the odds dramatically if you know how to use your money.

      With money comes freedom, and with freedom comes happiness.

      Before using the all too common line that money can’t buy happiness, you might want to give it a second thought.

      Featured photo credit: Getty Images via time.com

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      Damian "Pros" Prosalendis

      Entrepreneur, Business Owner

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      Last Updated on March 13, 2019

      How to Get out of a Rut: 12 Useful Ways to Get Unstuck

      How to Get out of a Rut: 12 Useful Ways to Get Unstuck

      Have you gotten into a rut before? Or are you in a rut right now?

      You know you’re in a rut when you run out of ideas and inspiration. I personally see a rut as a productivity vacuum. It might very well be a reason why you aren’t getting results. Even as you spend more time on your work, you can’t seem to get anything constructive done. While I’m normally productive, I get into occasional ruts (especially when I’ve been working back-to-back without rest). During those times, I can spend an entire day in front of the computer and get nothing done. It can be quite frustrating.

      Over time, I have tried and found several methods that are helpful to pull me out of a rut. If you experience ruts too, whether as a working professional, a writer, a blogger, a student or other work, you will find these useful. Here are 12 of my personal tips to get out of ruts:

      1. Work on the small tasks.

      When you are in a rut, tackle it by starting small. Clear away your smaller tasks which have been piling up. Reply to your emails, organize your documents, declutter your work space, and reply to private messages.

      Whenever I finish doing that, I generate a positive momentum which I bring forward to my work.

      2. Take a break from your work desk.

      Get yourself away from your desk and go take a walk. Go to the washroom, walk around the office, go out and get a snack.

      Your mind is too bogged down and needs some airing. Sometimes I get new ideas right after I walk away from my computer.

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      3. Upgrade yourself

      Take the down time to upgrade yourself. Go to a seminar. Read up on new materials (#7). Pick up a new language. Or any of the 42 ways here to improve yourself.

      The modern computer uses different typefaces because Steve Jobs dropped in on a calligraphy class back in college. How’s that for inspiration?

      4. Talk to a friend.

      Talk to someone and get your mind off work for a while.

      Talk about anything, from casual chatting to a deep conversation about something you really care about. You will be surprised at how the short encounter can be rejuvenating in its own way.

      5. Forget about trying to be perfect.

      If you are in a rut, the last thing you want to do is step on your own toes with perfectionist tendencies.

      Just start small. Do what you can, at your own pace. Let yourself make mistakes.

      Soon, a little trickle of inspiration will come. And then it’ll build up with more trickles. Before you know it, you have a whole stream of ideas.

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      6. Paint a vision to work towards.

      If you are continuously getting in a rut with your work, maybe there’s no vision inspiring you to move forward.

      Think about why you are doing this, and what you are doing it for. What is the end vision in mind?

      Make it as vivid as possible. Make sure it’s a vision that inspires you and use that to trigger you to action.

      7. Read a book (or blog).

      The things we read are like food to our brain. If you are out of ideas, it’s time to feed your brain with great materials.

      Here’s a list of 40 books you can start off with. Stock your browser with only the feeds of high quality blogs, such as Lifehack.org, DumbLittleMan, Seth Godin’s Blog, Tim Ferris’ Blog, Zen Habits or The Personal Excellence Blog.

      Check out the best selling books; those are generally packed with great wisdom.

      8. Have a quick nap.

      If you are at home, take a quick nap for about 20-30 minutes. This clears up your mind and gives you a quick boost. Nothing quite like starting off on a fresh start after catching up on sleep.

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      9. Remember why you are doing this.

      Sometimes we lose sight of why we do what we do, and after a while we become jaded. A quick refresher on why you even started on this project will help.

      What were you thinking when you thought of doing this? Retrace your thoughts back to that moment. Recall why you are doing this. Then reconnect with your muse.

      10. Find some competition.

      Nothing quite like healthy competition to spur us forward. If you are out of ideas, then check up on what people are doing in your space.

      Colleagues at work, competitors in the industry, competitors’ products and websites, networking conventions.. you get the drill.

      11. Go exercise.

      Since you are not making headway at work, might as well spend the time shaping yourself up.

      Sometimes we work so much that we neglect our health and fitness. Go jog, swim, cycle, whichever exercise you prefer.

      As you improve your physical health, your mental health will improve, too. The different facets of ourselves are all interlinked.

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      Here’re 15 Tips to Restart the Exercise Habit (and How to Keep It).

      12. Take a good break.

      Ruts are usually signs that you have been working too long and too hard. It’s time to get a break.

      Beyond the quick tips above, arrange for a 1-day or 2-days of break from your work. Don’t check your (work) emails or do anything work-related. Relax and do your favorite activities. You will return to your work recharged and ready to start.

      Contrary to popular belief, the world will not end from taking a break from your work. In fact, you will be much more ready to make an impact after proper rest. My best ideas and inspiration always hit me whenever I’m away from my work.

      Take a look at this to learn the importance of rest: The Importance of Scheduling Downtime

      More Resources About Getting out of a Rut

      Featured photo credit: Joshua Earle via unsplash.com

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