Only The Poor or Super Rich Say “Money Can’t Buy Happiness”
Whoever said, “money can’t buy happiness” is either poor or wealthy beyond their wildest dreams. The incessant amount of studies by researchers trying to prove money can’t buy happiness is simply a result of the researcher’s own poverty or unhappiness. Because they are financially mediocre, researchers are trying to console themselves that it’s OK not being wealthy.
Generally, researchers have a higher sense of self because they have more educational training. Hence, it tears them up when they see other “lesser beings” make more than them. Meanwhile, those who continue to highlight research stating that money can’t buy happiness are trying to justify their own financially unspectacular selves as well!
You see, the financially mediocre are all in cahoots with each other. They’ve banded together to proclaim that being middle class regular people is good enough. It probably is good enough for most people, but not for these unsatisfied folks who think they are smarter and better than everyone else! If being middle class or poor was good enough, then they’d leave well enough alone and be happy with their financial mediocrity. It’s a hard pill to swallow, but swallow they must. Not everybody can make multiple six figures, live in million dollar houses, and pay cash for luxury automobiles. That’s just life and they are trying to bring you down. Don’t let them!
THE TRICKY RICH
On the flip side, you have the super rich who also say, “money can’t buy happiness.” They’ve got all the luxury in the world, with not an ounce of financial worry. It must be nice never having to budget during Christmas season. It must be nice going to $1,000/head charity galas and paying $200 for front row seats to watch the great Itzhak Perelman play violin. These types of people need to fight for the poor because otherwise, they’ll be deemed as greedy bastards.
The guilt factor the super rich have is enough to say statements such as, “The rich aren’t paying their fair share of taxes!” Even if you slapped a 99% marginal income tax rate on Warren Buffet, he still will make more than 99% of the world. Of course it’s OK to raise taxes when you have so much wealth! The super rich will lecture us to stop focusing so much on money and just following our dreams. Don’t listen to them for one bit! They’re just trying to win you over and pretend to be like one of you.
DEFINITELY HAPPIER
I don’t know about you, but I’m very happy making more than I did 10 years ago. 10 years ago, I was worried whether I could afford getting desert for two on a date. Now, the cost of a seven layer chocolate cake for $8.99 doesn’t even cross my mind, only the 5 miles I’ll have to run tomorrow instead.
10 years ago, I used to stress more at work because if I ever got fired, my safety net was as think as sheets of wet Kleenex! Now, I’m focused on all the good things at work and don’t worry about face time issues and work place politics. 10 years ago, I would never be able to consciously buy two round-trip tickets the day before to celebrate Valentines week in Hawaii. Now, I’m excited to go on more last minute adventures because experiences are what matter most!
The reason why money does buy happiness is because once you have money, you don’t worry about money anymore. All the stress that comes with a lack of money melts away. You’re not pissed at your friends for short-changing the pot during a group meal outing. You don’t care if you get a flat tire and have to spend $200 to replace. You’re just not worried anymore, and that feels fantastic!
Money also allows you to buy fantastic memories. Most would agree that your happiest moments are spent with friends and loved ones. If you have money to travel and be with those you care about, is that not happiness production? It absolutely is. What about all the fun times you had taking salsa lessons or playing tennis at the club? Not a cheap endeavor, but so fun, and made possible by money.
CONCLUSION
When people start telling you money can’t buy happiness, take a good hard look at their finances. They are likely telling you this because they don’t have much money themselves. They haven’t tasted the freedom money buys. And if they so happen to be research PhD’s, well you can forget about their advice right there. If they are super rich, then you know they are just trying to blend in and not look selfish.
Money can buy happiness because money buys peace of mind and opportunities for great experiences. Don’t be fooled by ego-consoling research and those who espouse! They are just trying to keep you from achieving your financial goals so they can feel better about themselves.
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Regards,
Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”
I have always been a believer of that old adage. After reading your post, it made me think twice.. and I think I will agree. Money CAN buy happiness. When we have the money to spend for good food, out-of-town trips, and see the smile from my children, I feel an indescribable happiness because I was able to provide for my family.
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as an old lady in NYC once told me: “I’ve been poor, I’ve been rich…and rich is better.”
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Hold on now, the research says that happiness maxes out at 75k; so happiness does decrease with a decrease in income from that level. I live on 15k (saving 22k) and am doing great so I think that sum is fairly luxurious.
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Financial Samurai Reply:
April 12th, 2012 at 10:06 pm
Where do you live to allow you to only live on 15K a year? Do you have a spouse and do you work?
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Jon Reply:
April 21st, 2012 at 6:00 pm
Living on 15k a year would be easy for a single guy with no kids. I lived on 1k/month in my college days. Mostly eat at home, rent a room in a house, drive a used car… Give someone like that a 50k salary and he can save 20k easily a year.
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I’m like Tails in that I live on 15K per year. I work and make more as does DW. and live in a small city.
Experiences create happiness. Cultivate fun experiences and hobbies that don’t cost much, or better yet, pay for themselves. Make a determination to be optimistic, live a healthy lifestyle, and enjoy and be grateful for what riches that you have.
I like to garden in a small way (grow fresh herbs), cook, hike, DIY projects, and read. A good day could include some shop time, a walk to the library and a home made pizza or Thai, spent with the partner that I love. I could wastefully spend more, but why? Think “Millionaire Next Door”, apply its lessons to your own circumstances and get rich!
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I can’t tell if you’re joking or not. I’ve seen the budgets of my local university and I can tell you a lot of those researchers are making a nice six figures! Very far from poverty. Also, it’s not like the researchers in the world have some mass conspiracy and just making up the data.
I found your site recently from Mr. Money Mustache and I’ve been reading a few of your posts. Mostly some decent stuff but I notice you tend to take shots at various groups of people, like Democrats and now Researchers in this article. I’m neither a Democrat or Researcher myself but these cheap shots just come across as petty and bitter. Anyway, just some constructive criticism. Continue making generalizations if you wish! ;)
From the research I’ve read, money DOES affect happiness, but only up to a point. Here’s one study: http://wws.princeton.edu/news/Income_Happiness/Happiness_Money_Summary.pdf
It’s not just about money, but how it is being earned. Making $200,000 annually would be fantastic, but not if you were working 90 hours a week at a job you hate to do it.
I think when people say that “money can’t buy happiness”, they mean it in the sense that money ALONE can’t buy happiness. That’s why it is possible to be rich and miserable. Having financial security is just one part of the happiness equation, and it’s not even the most important part.
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Financial Samurai Reply:
April 21st, 2012 at 6:32 pm
Here is a nice shot against Republicans. “How To Get Republicans To Donate More To Charity”
If you are happy with the amount you make, that’s all that’s important. No need to justify why you don’t make more.
Here’s another post you should enjoy, “Achieving Financial Freedom One Income Slice At A Time“
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I believe money does play a major role in defining happiness. If you have the money to enjoy the freedom and be able to do what you want, whenever you want life can be good. Overall I believe its the element of success and the work you’ve put in to achieve something great that makes you happy not just the physical aspect of money.
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I believe it can to a extent. I remember the days when I was only making 1500 to 2000 dollars a month. I always stayed out of debt, paid bills on time, saved money, contributed to my IRA. I was doing all things right, but there was never enough to just go do what I want. I was being financially responsible and sure I could go out and eat at a nice place. Or go to the movies without breaking the bank. But I wanted to do bigger things!
These days when making mid 6 figures finally. Whenever I have time to take a week or two off, I can book that trip out to the islands off thailand and go on that 5k scuba diving trip I always wanted to do without a second thought. What I like to say is, money has bought me some freedom to do what I want to do. It has created the ability to know that yes I have something for retirement, yes i can take that trip that I always wanted too without going into debt for it or stretching myself to thin financially.
I have to say making more, I am happier. It was no fun dreaming about doing these things making only 15k or so a year. Dreams are good to have, but dreams that you can actually make into reality are that much better. Overall I am just more stress free too. I have a buffer. It can also buy me time and security, if tomorrow I loose my job, I don’t have to stress it for a while.
By no means I am rich. I still consider myself middle class.
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