How many times have we heard the popular saying that “if I had more money, I will be happier”. After all, rich people are being held in high esteem in society, and they seem to have everything they need just at their fingertips. Yet, many still believe money is not the source of happiness.
In fact, various studies and research have been carried out to look into the impact of money on happiness. However, one thing that remains is that there is no hard and fast rule on the connection between money and happiness.
Some demonstrated that if you are not happy before, there are high chances you won’t be when you have money. Having more can be a temporary rush of adrenaline that will soon wear off over time. While some explain that life struggles are the temporary reasons for unhappiness. Hence, money becomes the key to meeting daily needs and problems.
Whatever the case might be, the impact of money on happiness can never be ignored. Although, income increases in itself might not be the sole reason for happiness. And prioritising money over any other thing can weak havoc on the moral and psychological being. Still, money plays a role in overall well-being and happiness. With that said, here, Modern Millionaires delve deeper into the correlation between money and happiness. While at it, read more on Modern Millionaires Review for more on how the organization has helped businesses and entrepreneurs alike to reach a higher level of success.
Increased Income Means A Better Life
It only makes intuitive sense to believe that the higher the income, the higher the quality of life. One thing is money can satisfy your needs and improves the quality of life. Imagine having to pay your bills without hassle, meeting your financial requirement without second thoughts. Plus, getting to eat what want and go where you like. There is comfort, financial stability and even enjoyment. Try being poor, try being rich, I bet you will rather take the latter. It’s no surprise many will do anything to stay rich while the poor are always aspiring to be in their shoe.
However, this does not mean one should assign more importance and value to money. Think of the first time you are able to buy a car. You enjoy the luxury of not having to go with public transport. You are a proud owner of a car. You are happy. This, however, wane off with time. The happiness is short-lived and other life’s challenges make you more miserable. This means money is good, but it is not all.
Increased Wealth Afford Greater Autonomy And Confidence
The point is people feel richer, more financially secured and confident about their wealth. Various studies have linked low emotional well-being and life evaluation to low income. This is not to say people who earn more are not sometimes irritable, sad or angry even with the plenty they have. Moreover, upper class lives in a better environment and could afford luxurious life. This grants them more autonomy and makes them less susceptible to social and societal threat. They are more self-focused and have an increased independence which gives them a sense of security and happiness. Lower social class on the other hand tend to be more dependence on others. They are more vulnerable to social and environmental threats. Hence, they tend to find happiness in relationships and caring for others.
This shows that there are different reasons why people are happy. And while money might be part of them, it is not the sole determinant for happiness.
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Originally Posted At: https://foolic.com/business/money-influence-happiness/