Can Money Really Buy You Happiness?


MoneyI’ll give you the famous answer; it depends. Since we don’t live in a binary world where it’s either happy or not happy, I think money can at least buy you some degree of happiness by ridding of financial burdens. Otherwise, your life is constantly saddled with bills, debts, rents, grocery and other necessities. At the minimum, money can relieve you of these headaches, and shifts you toward the happier end of the spectrum.

If you still believe money is irrelevant to how happy you are, try watching The Pursuit of Happyness. Pay close attention to Will Smith’s expression when his character, Chis Garner, was finally accepted to Dean Witter after confronting with a string of financial predicaments in the early part of his life. Chris Garner struggled to contain his excitement on a busy New York street. (I almost cried during that scene.)

I suppose the more interesting question is, can money buy you happiness once you cover all your necessities.

Whoever said money can’t buy happiness simply didn’t know where to go shopping. - Bo Derek

Once again, the answer is… it depends. What would you do if you have a million bucks? What happens when your million dollar journey is over? I’d love to hear some of your thoughts. Personally, I’d spoil myself with a Canon EOS Mark II, and travel around the world capturing breath-taking sceneries. Of course that’s just me. Perhaps it’s too nerdy for some, and others may have different ideas of what make them happy.

Sex is one of the most wholesome, beautiful and natural experiences that money can buy. - Steve Martin

Umm… no comment.

Anyway, for most folks, I think money can buy you happiness, as long as there is something to live for. I’m not talking about squandering money on impulse, but using it to purchase items that enable you to pursuit a genuine dream(s).

I always wonder what sane people would claim that money doesn’t buy you happiness.

Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million. - Arnold Schwarzenegger

Well, if you have $48 million, an extra $2 million is going to be insignificant. There’s an element of diminishing return where the first million will satisfy your inner most wants, and subsequent millions will round up the secondary. Consequently, not every dollar is appreciated equally. Can money buy me happiness? It depends on which million you are referring to.

 

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“Money can’t buy happiness, but it can rent a heck of a good time” is one of the quotes I like about money and happiness. The other is from Forrest Gump right after he got rich through buying Apple stock “After that I didn’t have to worry about money anymore. Which is good, ’cause that’s one less thing…”

My view of not having to worry about money is that its just one less thing. You might still get sick, you might lose loved ones, you might not achieve your dreams, but it’d be a really nice feeling to know that whatever the future brings, there’ll be a roof over your head and food on the table.

My one funny observation about people I know who have “made it” financially (whatever your definition is of “made it”) is that they are bored stiff. Money is the single most over-riding concern for most people so what do you do when that issue is taken away? Usually, these people go pursue a dream so if money allows you to pursue a life-long dream than all the power to you and money does (indirectly anyways) buy you happiness.

Personally, if I made it, I would learn to be an architect and build stylish affordable housing (with no leaky roofs!).

What a wuss. ;)

I almost cried too..

:)

FT

I just bought 6/49 though an office pool. If I win, I’ll hire Larry MacDonald to blog for me. :D

Another fun quote for you:

“Someday I want to be rich. Some people get so rich they lose all respect for humanity. That’s how rich I want to be.” - Rita Rudner

Hi FJ,
I don’t think that money buys happiness. I mostly think that it will amplify your moments. So if it’s a good one, it’s better, but things are getting worst without money when you are already in trouble…

It’s funny that you post on this subject as I have one post scheduled on that tomorrow… guess what, I’m also referring to Pursuit of Happiness! So nothing related, I wrote that last week.
Cheers,
FB.

I guess we’ll receive a full explanation tomorrow! Look forward to your post, FB.

Pursuit is happiness.

I truly don’t believe that money buys happiness however, I know that not having any money certainly buys unhapiness.

My eyes were red. It reminded me of the same moment in my life. The switch from roughing it out to a sudden sense of stability. As if tomorrow is going to be allright.

You know, I got teary-eyed watching that movie myself but it also kind of angered me.
I’m all for reaching for the stars but not when it means you’re making your young son sleep in a subway washroom. I kept wondering why he didn’t just try to get a mediocre job and pay his rent and bring home some food for his kid. It turned out very well for him but this is a once in a lifetime story. I shudder to think of how many didn’t get the big break but wouldn’t stop going for gold instead of just settling for bronze and continue to live in extreme poverty.

My recollection of the research is that money buys happiness only to the point that it meets basic needs. After that, it has virtually no effect. In other words, if you are poor enough money will have an impact on your happiness, otherwise don’t expect much.
As for me, I’m just trying to buy security…

MD:)

Having money definitely makes life easier.

I’ve heard that coming into large sums of money brings out a persons true nature.

[…] Financial Jungle guy wonders, “Can money really buy you happiness?” His answer is: “It depends.” It can, up to a point, but eventually there’s […]

When I am poor, I can say money can buy happiness. When I am rich, I can say money can’t buy happiness.

I’ve read studies which compared populations 1 year after the following 2 events: Winning a lottery in excess of 1 Million Dollars vs. Losing at least 2 limbs in an accident. Guess which population scored higher on a study ranking how content they were with life, happiness, outlook on future, etc? Incredible, but the Millionaires were miserable.

Regarding how this affects us day to day, investing and exceeding market returns or at least risk-free returns of CDs/banks, etc is redeeming. For strategies, advice, hedge strategies to avoid losing a bunch when this market eventually tanks, feel free to visit.

This is a very common debate. I think money buys opportunities do have more freedom to do what you want.

However, I think the correlation between money and happiness is really dependent on the personality type of the individual. It is many people’s nature to worry or find something to make them unhappy. These people will be unhappy if they have $10 or $10 million.

In extreme cases money could buy happiness. For example, if you were going to die but could have a life saving surgery that cost $100 million dollars. In this case, money would save your life, providing you with future happiness. Also, people working in horrible conditions may be more happy with a large amount of money.

I think the difference in happiness between rich people and middle class people is not greatly effected by money.

[…] Can money buy you happiness? Not exactly, but it can help if you know where to spend it. Linda Stern, from Reuters, offers a few techniques to convert your wealth to happiness. It may surprise you that most of these techniques don’t include buying big toys like sport cars or big screen TVs. I’ve also written a topic on money and happiness. […]

affluence(wealth) cannot buy happiness, but so can’t poverty. A person who can comprehend that wealth is just temporary will wisely use his money. If you have the essential things that are needed in life, then i have experienced that there is a different kind of happiness in sharing….i know that sounds cheesy, but u wont know it unless u experience it.
Though at present i am in a wealthy country, i grew up in India, widely known for its ramshacles, and bone skinny children living on streets. If you just give them a slice of bread, u can feel their gratitude by just looking in their eyes.
One other element for happiness, i reckon is-hope. One that offers hope freely is widely renounced and ridiculed- Spirituality. Metaphorically it can be compared a bright light on top of a hill on a cold night. The journey up there may be rough, u may fall and get hurt, but the light always keep ur hpes up, and thus gives a reason to live, and therefore, brings happiness.

I’ve always believed that the best work out there is the one you do without much compensation. That’s why you see the starving artist, writer, non-tenured academic, etc. All and all, the way the work world is structured, much of the paid work out there is long term druggery. Just ask anyone working at a law firm, who was once interested in ficticious role models like Atticus Finc, and he can tell you that the work which pays the bills isn’t what it was cracked up to be originally.

That’s why having money, from some sort of less work-intensive investing strategy and then following your interests on your own is true happiness. I know many attorneys who would love to work pro-bono, 2 days per week and teach at a law program, moot court, etc, than in keeping their 7AM-9PM corporate stints at XYZ partners.

money can buy anyone happiness becuase if a homless person get 1 million dollars i bet u he will be one of the happest people in the world, soo yea money can buy you happiness

Hello, everyone guy!!If you think that money can buy happiness, and then would you any reasons of proof>>>>>