The Reasons Why Money Can’t Buy Happiness

Every distinct individual have a contrasting description of happiness. Alongside with having unlike idea concerning with the subject, we have different ways to be happy. Does money buy happiness has sparked a heated debate as not every person has the same opinion. It's an age-old question, the phenomenon of effects of wealth on happiness and its corresponding impact.

The explanation of happiness may actually appear as subtle as seizing the fountains of knowledge, but science is gradually helpful on how the typical individual can reach happiness.

Freshly, a study of upper class and needy society discovers that individual earthly title and positiveness are related to superior well-being. The conclusion are opposing to the argument about happiness, whatever indicates whilst the well-off are happier predominantly than unfortunate, maximizes in income don't give happiness a breakthrough. The results are considerable, as claimed by the expert. The counterclaims perhaps are not enough to answer somehow or another regardless in reverse that earnings rise lead to a hit in happiness.

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In the past, advocates of reducing our focus on consumption have largely been motivated by the idea that there is something psychologically or spiritually unhealthy about high levels of materialism. Meanwhile, in today’s worldly humankind, the saying that ‘money can’t buy happiness’ is liable to be prove hence otherwise. Various sources addressing correlations between money and happiness through subjects such as pro-social spending, materialism, the pursuit of spending on others, and the effects of homelessness on physical and mental health. In this modern era, money can buy anything, including individual gladness.

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Several people think that personal happiness has correlation with finance, while others believe that some factors bring huge implication on it.

As we explore deep toward finding the answer whether money can buy happiness or not, let's characterize the importance of happiness and its connection between money. And what are the factor affecting both. So what defines happiness? One describe ‘happiness’ as a worth term, almost identical with well-being or successful. Other describe the word as a solely vivid emotional term, similar to ‘despair’ or ‘tranquility.

Philosophers and thinkers from all generations have defined happiness as a mental state that is composed of positive thoughts and emotions which bring joy to the individual. Philosophers who write about happiness typically take their subject matter to be either of two things, each corresponding to a different sense of the term: A state of mind a life that goes well for the person leading it. But questions about 'happiness' and 'satisfaction' in surveys have elicited subjective responses.

For instance, the General Social Surveys use a three-point verbal happiness scale, which asks the question: 'Taken all together, how would you say things are these days - would you say that you are very happy, pretty happy or not too happy with the life you lead?' Different measures of happiness and life satisfaction - correlate well with each other and, according to factor analyses, represent a single unitary construct. Happiness responses are correlated with physical reactions that can be thought of as describing true, internal happiness: people who report that they are happy tend to smile more and show levels of stress responses and less likely to commit suicide. In trying to come by a definition of happiness, Scholars, Psychologists and Socialist alike, came by two general theories as to what happiness means.

One is the hedonic theory. This suggests that happiness - or well being - is entirely about the achievement of pleasure and escaping from pain. The more pleasure you have and the less pain you experience, the happier you are and the greater your well- being. The hedonic view goes all the way back to the Greek philosopher, Aristippus, who described the ultimate goal in life as experiencing the maximum amount of pleasure.

Eudemonic theory on the other hand focuses on the meaning and defines well-being in terms of realization. 'Happiness' denotes a measure of an individual's evaluation of her overall quality of life. The term is usually used interchangeably with 'life satisfaction.' The term that encompasses both concepts is 'subjective well-being'. For example, the extent to which we are fulfilling our potential in life. The Greek philosopher Aristotle explained that happiness is a combination of instant pleasures and a life well-lived. To simply put, doing a good job with whatever you prefer to do, along with the freedom from suffering. Meaning, how much money individual made didn't determine how happy they become, but how they made the money affected his and her happiness.

As claimed by researchers from Harvard Business School- Grant Donnelly and Michael Norton, after examining 4,000 millionaires, about 90% would agree to work for less money if it meant that they would do something they consider to be personally rewarding.

An article with the title 'Maybe Money Does Buy happiness After All' and 'If you're richer, you're happier' reported that the more money equals more happiness. Insight into the happiness of millionaires are limited into a single sample source the 1983 Forbes list of wealthiest people in the world. The study claimed around 49 wealthy individuals with each a net worth over $125M were compared to average earners from the same geographical areas. The richest people were, on average, fairly feel happier than the average earners and likely moderately more satisfaction with life. The authors concluded that wealthier people are found to be happier that comparatively poorer people. But the effects are small. In addition to the relationship between happiness and the sheer amount of money, certainly, the manner in which people spend their money has been shown to influence happiness. For instance, spending on others and giving to charity, typically associated with greater happiness than spending on material goods for the self.

The New York Times and The Times of London, refute the long standing claim, commonly attributed to Richard Easterlin, that money does not 'buy' happiness supported with reasons. The idea, that more money doesn't imply happiness, comes, from temporariness of material values. Individual experience of happiness only increase as income increases. For example you are earning AED 12,000 a year. You will barely be able to afford food, let alone shelter and you will likely be very stressed or living off other people by scavenging. Now, let’s say you are earning AED 600,000 a year, you can afford a house, a Tesla car, and able to dine-in in a fancy restaurant while gather some savings so you can afford to travel first class anywhere you like, but you are doing basically the same things as before, but are working a lot harder and don't have much time to spend with your family. Now, earning AED 12,000 a year, or AED 600,000 a year, is pretty unlikely, and it's also an absurd amount of money usually acquired by making money with money not from actually working harder or contributing more to society. With a high wage comes accountability and responsibilities. Or Maybe the real question isn't money or happiness but when do the rewards of work no longer make up for the effort of earning them high wages can be a motivator or a dictator both the carrot and the stick. This is where most individual actually think of pleasure and not happiness.

Material wealth influences happiness, however this depends on the ability of such materials to satisfy the needs of individual. The reality that more money gives one the choice of acquiring material property implies that it can directly make one happier. We have varied motivations in life which in turn influences our definition of happiness. For example, Andrew Carnegie donated majority of his fortune to charities, foundations and universities as an effort to lead a useful and worthy lives.

Our present time has place a highly priced and value to everything, and thus, for many, wealth use to emphasize the origin and ultimate happiness. To have more money and fortune does have the advantages of sometimes allowing you to attend certain universities to pursue certain degrees but in order to do this you must have skills, talent, brain and endless sleepless nights to support this money in order to graduate. Money possibly will tolerate one to get all the temporary comforts of life, but it must also be well thought-out as to which type of person benefits from the money as well. Furthermore, someone with immense riches may be consider lucky by many, but the individual only realizes that if there is no one to share the luxuries with, there is certainly no sweetness, no matter how ripe the fruit may be. Some people have much wealth but are still bored and lonely, or dying from an untreatable illness, cannot be satisfied while being in possession of a great deal of money. If we look at it from practical side, there are many facts, that financial pressure has destroyed relationships.

A phrase more money, more problems is strongly many people believe to be true. Alongside with excess money, numerous people suffers from addiction like drugs leading them to commit suicide or commit a crime or use funds as tool to do these things. Despite the fact that more money gives you this pleasure it doesn't guarantee to make you happy. Money is only a tool. It is the grit in tough times to get through it and lastly, the joy of overcoming them. Happiness is subjective and monetary sides is of no importance or no value. Donnelly and Norton examined the literature and establish that money put up to happiness to meet up with vital needs - but above a certain level, more money does not return massive extent of happiness.

Within the state of personal happiness, a more simplistic way of living might multiply the outcomes of being satisfied. Additionally, fundamental aspects of simplistic living style relate to this realism that the demerits of saddening events pertain to money related occurrences. As a concrete example, some scientific research undertaken by a prominent university has asserted that the disadvantage of being deficit in money is linked negatively with powerlessness to enjoy life. For this reason, it is correct to presume the preconceived notion of wealth affecting happiness.

Updated: Feb 02, 2024
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The Reasons Why Money Can’t Buy Happiness. (2024, Feb 02). Retrieved from

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