“Can Money Buy Happiness?” has been such a cliché question over centuries but really, can money in fact buy happiness? No one seems to have a definite answer. When surveying college students the average response was yes. According to comedian Tosh.0, “Money doesn’t buy happiness but it buys a jet ski, and you can’t frown if you’re on a jet ski.”
When exploring the matter research typically showed the same results; whoever said money can’t buy you happiness was wrong. However, there are stipulations. The research generally shows that money can buy you a certain amount of happiness depending how you spend it.
According to an infographic from Happify, money can buy us a certain amount of happiness conditional on how you choose to spend it. For instance, we get happier over time when we’ve bought experiences, like a vacation, but less happy when we’ve bought things, like a new watch (Business insider). Studies commencing from Happify showed that 57% of Americans felt spending money on experiences that would bring them closer to another, were unique, or were to make a good memory, would make them happier than buying “stuff.”
Economists claim the matter is a bit more complicated saying that your happiness levels rise with your yearly income up to $75,000. After this amount is reached wealth has no impact on our regular happiness rate, yet more income can improve the satisfaction of ones day to day life (Business insider).
A study done at the University of California at Berkley agreed concluding, “It’s all about directing our purchasing power toward experiences that jibe with who we think we are (Forbes).”
Despite this evidence there is a possibility of reverse causation; the fact that people who are more likely to give money to charity or go on vacation are just inherently happier people by character. Studies were done and agreeable to the fact that regardless of whether money makes one happy or happiness attracts money, it’s all dependent of how it’s being spent.
http://www.forbes.com/sites/daviddisalvo/2014/05/04/can-money-really-buy-happiness-well-maybe/
http://www.pbs.org/thisemotionallife/blogs/can-money-really-buy-happiness
http://www.businessinsider.com/money-can-buy-happiness-2014-4
The whole “money can’t buy happiness” thing has been an ongoing debate for God only knows how long. Money can buy things and possessions, such as, a car, a house, a vacation but money can’t buy a feeling. That’s like saying can money buy sadness or can money buy fear. That sounds so ridiculous. Money can buy things that can change your feelings, getting a new car can make someone happy but it can’t physically buy happiness, you can’t go to a store and purchase $20 of happiness. I also don’t know how one would measure “happiness.” How would you even define happiness. Is happiness getting one million dollars handed to you every year for doing nothing? Turns out most movie stars, actors, performers with all this money end up killing themselves, are they really “happy.” Clearly all that money isn’t doing the trick.
I agree with the part of the study that states spending money on things like vacations and experiences your family and friends can bond and unite over can provide happiness. It also seems logical to me in general that those with a higher annual income would be happier because they don’t have the stress of not being able to pay bills or provide things for themselves or their family. However I do not think this principal can be applied universally to those who have money because there are always other factors out of ones control in life. This study: http://time.com/money/2802147/does-money-buy-happiness/ also talks about how rich countries are happier than poor countries.
I like the approach that you took with this blog. I would have to say that I most definitely think that money can only buy so much happiness for a certain amount of time and after that it won’t get you very far in the way of feeling happy. I liked the part where you talked about how people who are able to spend their money on trips with their families or things that will kind of last a lifetime in a sense are generally happier than people who just spend all their money on objects. I’d say that I have experienced both sides of the spectrum. My family has been a lot of places around the world and it seems like the memories that we make when we go on family vacations and trips come back throughout our life and we’re able to look back at them and reminisce as well as laugh. As for material objects and “stuff” it seems as though it gives me happiness for a little bit when it’s brand new and then it loses it’s value and no long becomes much of anything. It’s almost similar to a new iphone. You get happy when you get the latest thing, but then a new version comes out and you’re no longer satisfied.
I do not believe money can buy happiness. The richest people can be sick with cancer etc, and they will not be happy.
I strongly believer that money can provide the occasional happy moments but it can not buy happiness. The information you found that indicated that “your happy levels rise with your yearly income up to $75,000”, was surprising to me. Despite your findings I wonder if money in the long run can truly result in a happy life. Considering the recent suicide that resulted in the loss of legendary actor Robin Williams, it makes me realize that just because you are well endowed it does not mean that you are always happy.