PAS6: Can Money Buy Happiness?

According to both PBS.org and Time.com, yes.

But not in the Tom Haverford kind of way. Things may “be forever,” but buying lots of things has not been scientifically proven to make a person happier.

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Both organizations have agreed that having more money can lead to happiness if spent wisely. And by wisely, they actually mean on other people.

It’s simple really. John Grohol, author of PBS Article states, “Money can buy you happiness, as long as you give some of the money away, or use it for an experience rather than buying a product.”

I once went to a class on Happiness, and the professor told me nearly the same thing. We get more pleasure out of PLANNING the event rather than actually going to the event that may have cost a lot of money, specifically with vacations. Experiences definitely are more worth your money, in terms of happiness, than things. According to the Times article, 57% of respondents reported greater happiness from an experiential purchase where as only 34% said the same about a material purchase.

The following is a study taken from the PBS Article: “Finally, in a third study of 46 people, researchers discovered that participants who were directed to spend a small amount of money on others (either $5 or $20) reported greater feelings of happiness than those who were directed to spend the same amounts on themselves. Again, the dollar amount didn’t matter.”

This actually suggests that we have no choice but to feel happier when we are giving to others. This would explain why many people volunteer for no reason other than the fact that they love volunteering.

A Huffington Post titled “Here Is The Income Level At Which Money Won’t Make You Any Happier In Each State” acknowledges that once you hit a certain income level, the more bonuses you have afterward are meaningless in regards to your happiness. The article analyzes each state’s average income levels and determines the amount of income you need to be happy averages in our country at $75,000. This means that if you make over $75,000 (on average) the higher your income raises, your happiness will not be affected. I think it’s important to note here that while the article doesn’t mention this, if your income is BELOW this number it is more likely that you will be less likely because it would mean you are not making enough money to pay the average bills and have any money left over. If you do not have enough money to have anything left over or even to cover the bills, then obviously this will cause more stress on your life and most likely lead to unhappiness.

 

http://www.pbs.org/thisemotionallife/blogs/can-money-really-buy-happiness

http://www.pbs.org/thisemotionallife/blogs/can-money-really-buy-happiness

http://www.pbs.org/thisemotionallife/blogs/can-money-really-buy-happiness

http://www.pbs.org/thisemotionallife/blogs/can-money-really-buy-happiness

http://time.com/3545709/money-can-buy-happiness/

http://www.huffingtonpost.com/2014/07/17/map-happiness-benchmark_n_5592194.html

3 responses to “PAS6: Can Money Buy Happiness?

  1. It’s very interesting to see that people enjoy spending money on experiences rather than items, but it also makes a lot of sense!

  2. I think I have definitely found that I prefer planning things rather than actually going to/doing them, which I wish wasn’t always the case. I wish there was a way to remember that thing about increasing income, because when it comes to smaller things in your life, and people would stop worrying about getting more.

  3. Badman Robert James

    Another great analysis of some random information! Great job! This was super interesting and really informative. Great way to work in some sources, too!

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