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Does Money Buy Happiness?

Money makes the world go round

Although it may seem unfortunate, money does in fact make the world go round, and therefore happiness can be bought through many different ways depending on people's interests and lifestyles. Money can be looked at as both a positive and negative thing depending on the mindset of a person. Most of the time, it can be seen as something that motivates people to work and make a life for themselves but on the other hand, it can be seen as a toxic thing that can make people greedy and make bad decisions.

By having a job that pays well and being financially independent, the quality of life automatically increases. According to NBC News, a recent experiment suggests that money can indeed buy happiness – people who received cash transfers of $10,000 generally reported feeling happier than people who did not receive any. This is because higher incomes lead to higher life satisfaction and although rich people do still have problems, having money allows them to fix problems and resolve them much easier. Whether its small problems such as having money to get home safely, or a bigger worry like handling a hospital bill, money can provide calm and control wherever life takes us.

Money and mental health

Money is also seen as a significant thing when it comes to mental health – there’s been evidence supporting the idea that growing up in poverty can have a long term impact on children’s cognitive development. Something called “toxic stress” are shown to actually have altered brains. A 2012 report from Gallup revealed that people in poverty are more likely to suffer from health problems, with depression being the most common.

Having money means being able to free up the mind and savour life because people don’t need to focus as much attention on acquiring it in order to meet basic needs. When you are able to do this freely, researchers found that being generous with money is a path to happiness since people who had been assigned to spend money on someone else reported feeling a happier mood over the course of the day than those assigned to spend the money.


In addition to happiness, money can buy good health, better experiences, unforgettable memories with the people you love, and the best quality of life. This is because having money brings experiences that not many people can afford, for example, being able to travel the world.

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