Does money buy you happiness or is it enslavement distorting our minds with belief of this?
Ghandi said "whatever you do in life, will be insignificant but it's important that you do it".
I tend to agree with the first part. In the modern world that we currently live in everything is adapting and everything comes with a price, but does this mean that it buys our happiness?, does it mean that if we desire a happy life we must possess money to obtain it? The end achievement that appears to be the scenario with the people of today is they must work their full lives to obtain the income they believe will make them happy. However can we truly say for certain that money brings us the happiness we desire? or is it a limitation from our full happiness due to the enslavement we have to having the best jobs and highest salary possible to have just a taste of what we think is happiness.
How it is believed it can
Money can buy happiness to a certain extent, especially when basic needs are met, and there is enough discretionary income to spend on experiences and things that bring joy. Research has shown that money can contribute to happiness by providing security, freedom, and opportunities.
Financial security, the sense of being able to pay bills and afford necessities, is critical for happiness.
Moreover, money can provide freedom by giving individuals the ability to make choices that align with their values and goals. It can help people leave unfulfilling jobs, pursue hobbies and passions, and travel. Experiences, especially those that involve social connections, have been shown to increase happiness more than material possessions.
Money can buy these experiences, like attending concerts or taking a trip with friends, which can create lasting memories and positive emotions forever.
Money also provides opportunities to learn and grow, whether through education, training, or trying new things. It can offer exposure to different cultures and ideas, which can broaden perspectives and increase happiness. Money can also enable individuals to give back to their communities, which has been shown to increase happiness and well-being.
However, the relationship between money and happiness is not linear. Once basic needs are met, additional income may have diminishing returns for happiness. The pursuit of money at the expense of relationships and other aspects of life can also lead to decreased happiness.
How it is believed it cannot
However, the relationship between money and happiness is not linear. Once basic needs are met, additional income may have diminishing returns for happiness. The pursuit of money at the expense of relationships and other aspects of life can also lead to decreased happiness. Here are some researched ways on how money can in fact not buy full happiness and the extent on happiness that it has:
1. Diminishing returns: Studies have shown that after a certain point, having more money does not lead to more happiness. Once basic needs such as food, shelter, and healthcare are met, additional income may not have a significant impact on overall well-being. In fact, chasing after more money at the expense of other important aspects of life, such as relationships and personal growth, can lead to decreased happiness.
2. Hedonic adaptation: Humans have a tendency to adapt to new circumstances, including increased income and material possessions. This means that while a new car or house may initially provide a boost in happiness, the effect will likely wear off over time, and the individual may begin to take their wealth for granted. In some cases, this can even lead to a cycle of constantly seeking more money and possessions, without ever achieving lasting happiness.
3. Comparative thinking: People often compare themselves to others, and when it comes to money, this can lead to feelings of inadequacy and unhappiness. No matter how much money one has, there will always be someone who has more, which can lead to a constant sense of striving and dissatisfaction.
4. Lack of fulfilment: Money cannot buy fulfilment or a sense of purpose. While it can provide access to resources and experiences, ultimately, a meaningful life requires more than just material possessions. Pursuing activities and goals that align with one's values and provide a sense of meaning and purpose is critical to long-term happiness
"Money can buy pleasure and momentary satisfaction, but true happiness is a much deeper and more enduring state of mind. It is based on cultivating positive emotions, building meaningful connections, and engaging in activities that bring a sense of purpose and fulfillment." - Dr. Martin Seligman, Professor of Psychology at the University of Pennsylvania.
Personal review
Beyond a certain point, increasing wealth does not lead to a corresponding increase in happiness. Factors such as social relationships, personal values, and experiences have a much greater impact on happiness than material possessions. In fact, the pursuit of wealth at the expense of these factors can actually lead to decreased happiness and well-being. Concluding that money may have its aid in possessing materialistic happiness it may still be argued but from a measured decision from research i have undertaken, money cannot buy a persons happiness.