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Can Money Buy Happiness?

As an accounting and finance student, most of my daily thinking goes towards how money is used, decisions that are financially focussed and how money should be organised to maximise stakeholder satisfaction. Although, when thinking outside money in business terms, I like to think of the societal impacts of money for example, how it determines how we live. Money determines our upbringing, day-to-day, future careers and relationships. This then leads to thinking about whether money buys happiness. As a student, I assume that money is similar to cogs in a watch, they keep the world running but they do not control a person's feelings, as people should value things such as family, friends and their passions.

Reason one why money doesn't matter: living a fulfilling life makes you happy

A fulfilled life is commonly described as being perfectly alive, filled with purpose and satisfaction, involving vision and requiring intensive alignment - highly meaningful and sought by all. Now, to take a look into the perfectly alive aspect of the description, to be perfectly alive implies perfect physical and mental health. One can say that you need money to have a perfect life so that you can afford life's luxuries such as private health care, top-rated therapies and the highest quality medication. But, I ought to disagree when taking into consideration illnesses that can't be instantly resolved such as variations of cancer and birth deformations, But can this limit a person's happiness? I believe it can have a significant impact by limiting their experiences and their ability to hold strong relationships.

How money can help fulfil one's life

Although, this previous point can be argued with, as those with money can afford to make life's joys more accessible. One example is that they can afford to have amenities brought to them such as TVs for entertainment and phones/tablets so that communication with family members is easy to access in places such as hospitals whereas others have nothing but the pain of others to listen to whilst being in a vulnerable position. Having easy access to the family also gives a person purpose in life, satisfaction and value especially those who get joy from great relationships with their friends and family. Money can create a more fulfilling life for vulnerable people as there is easier access to amenities.

Reason two why money doesn't matter: pursuing money can lead to a lifetime of stress

To be wealthy is to have a great deal of money, resources or assets. There a myriad reasons why someone would want to be wealthy such as, to be able to help more people, gives value to your personal growth and gives them power. But how does one become wealthy? it is usually the combination of education, entrepreneurial attitude and ability to take risks. There are plenty of rags-to-riches stories that further back the possibility that possibilities are endless. So why not sacrifice your short-term mental health, time and money that you do have to be able to afford a simpler life in the future? But, often seen throughout the world is burnout where a sense of entitlement is created and once that isn't fulfilled those who were aiming for those unrealistic expectations end up giving up and facing severe exhaustion and disappointment.

How money eases the pursuit of happiness

This point can be disputed as having a substantial amount of money is what creates opportunities through high-quality education, nepotism and liquidity. Those with money can afford to move to more affluent areas and live comfortably enough to the extent that quality of life doesn't take priority in their concerns allowing them to fully focus on their education which those without money cannot afford as accommodation and learning materials financing may be of concern to them. With the right education, an entrepreneurial mindset can thrive, especially with bulk cash that can be used to make large investments in themselves and their ideas. All that combines can result in a successful business that creates a comfortable life for themselves and gives them time and liquidity to do what makes them happy.

My overall thoughts

Money may not be a leading cause of happiness but it definitely makes fulfilling life easier as you have easier access to healthcare, opportunities and assets. Without that one has to really work for what is easier for others and make sacrifices that may have a negative impact on their happiness for a very long period of time.

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