We’ve all wondered about the question “Can Money Buy Happiness.” Today, my brother Gene has a guest post that answers this question. So read below and chime in with your own thoughts…
We live in a world where money matters. Money gets you what you want and most people desire it. Some even lust after it. Yet if you take a random sampling of people and ask them if money can give them happiness most will say that it cannot.
There is anecdotal truth in this. Look at child stars. Too much money too quickly seems to give them deep emotional scarring.
You do not often hear about many well adjusted child actors and actresses.
There are also stories about the “very rich” being able to find no joy in the common things in life.
All anecdotal of course, there is not a bit of scientific evidence in these stories, yet I would venture to say these are commonly held beliefs.
Just think about a few of the really common quotes pertaining to money and happiness
It’s like the more money we come across the more problems we see- Biggie Smalls
The love of money is the root of all evil – 1 Timothy 6:10
Money often costs too much- Ralph Waldo Emerson
I don’t care too much for money, for money can’t buy me love – The Beatles
Forget everything you think you know.
Think money doesn’t buy happiness; think again. According to a Princeton University study it absolutely does buy happiness, at least up to $75,000. So does that mean that many people were wrong? All of the knowledge that money is transitory and deeper meaning and understanding of life was essential; is it wrong? Is happiness really based not on stable emotions but on something as simple as money?
Was Bo Derek right when she said, “Whoever said money can’t buy you happiness simply didn’t know where go shopping.” Even worse, is “Greed Good”? (Gordon Gecko) Or at least good for your own happiness?
A deeper analysis of money versus happiness.
First the 75,000 mark is an important one. Beneath it for every 10,000 dollars of income above poverty level ($22,050) there was a corresponding 10% rise in reported happiness levels; a very substantial statistical finding.
There is no reason to pillory Tony Robbins and others who say that true happiness comes from within quite yet. What the researchers found was that below$ 75K the money itself did not cause sadness, it was simply the problems caused by lack of money.
Stress for paying the bills. All of the constant worry over making ends meet. All of the stress and panic over how to pay the bills for unforeseen circumstances.
It really makes sense. Having lived life on the margins and surviving on ramen noodles and stretching a dollar bill farther than anyone could think possible, I can tell you being broke is no fun at all.
At the 75,000 benchmark some of these things disappear. At this point many money stressors disappear and ONLY a person’s natural feeling of happiness or sadness came through. At this point enough really is enough. The people who are happy have enough that they will be happy. They people that have a void inside them will continue to do so.
What does it all mean and what does this mean to you?
Mainly it means that if you have a household income of less than $75,000, get your butt in gear. If you regularly read this site it’s highly possible that you desire to have some sort of an online business. Keep working at it. Try techniques to make your online business more profitable. Try Affiliate Marketing. Find a profitable niche to make money in.
Do not let me mislead you. None of these are ways to get instant success or riches. None of these will be easy and effort free. To spite some claims to the contrary that you may find in your email box there is no universal internet ATM key that will let you spit out wads of cash for minimal effort.
You will almost assuredly have to put in long hours with little return at first. Eventually, though, you can get a small supplement to your income, which can turn into a sizable supplement which will hopefully eventually lead you to true freedom and enjoyment. It is not easy, but it is worth the effort.
What do YOU think? Is the study wrong? Is it right? Does money = happiness or have nothing to do with the equation at all?
Comment below and let me know you what you think…Take Action. Get Results.