Money CAN Buy Happiness!
It is often said that money can’t buy happiness. Lots of research has been done that shows this to be true. And it is almost always true. But being poor won’t buy happiness either. The truth is that whatever amount of money you have, what you spend your money on will control to a large extent just how happy you are. I’m not talking about people who are suffering illnesses or disabilities or are bereaved. These ‘unhappinesses’ have very little to do with money.
Money spent wisely, can help you to be happier. Some people (I’m talking about the UK) have very little money left after buying the essentials of life. But most people have some money left over. Some people are very wasteful with money.
They spend it foolishly on gambling, alcohol and drug abuse. Things that they say they enjoy but really bring much stress, misery and problems into their lives. And lots of Bad Karma!
Many, many people that I know fall into this latter group. People on good incomes who have nothing in the bank and mountains of debt.
As the leader of The Happy People, I am determined to show everybody that they can be happy. This is an easy group to start with. They have the ability to act more wisely with the money that they do have. They only have to stop wasting it and start spending it on things that will bring more happiness into their lives and the lives of the people that they love.
I have just read an excellent article about this approach to happiness. The link to the full article is at the bottom of the post.
Here are some of the highlights and my comments which are written in italics. But do read the full article at the link.
Using Money To Buy Happiness
Recent research has begun to distinguish two aspects of subjective well-being. Emotional well-being refers to the emotional quality of an individual’s everyday experience — the frequency and intensity of experiences of joy, stress, sadness, anger, and affection that make one’s life pleasant or unpleasant. Life evaluation refers to the thoughts that people have about their life when they think about it. We raise the question of whether money buys happiness, separately for these two aspects of well-being. We report an analysis of more than 450,000 responses to the Gallup-Healthways Well-Being Index, a daily survey of 1,000 US residents conducted by the Gallup Organization. […] When plotted against log income, life evaluation rises steadily.
The Gallup Organization is a very reliable one and this is a massive number of responses so we can trust the results.
But even if you’re fortunate enough to have a good income, how you spend your money has a strong influence on how h appy – or unhappy – it will make you. And, again, there’s science behind this. The relevant research is summarized in If money doesn’t make you happy, then you probably aren’t spending it right (pdf).
Most people don’t know the basic scientific facts about happiness — about what brings it and what sustains it — and so they don’t know how to use their money to acquire it.
I have written lots of posts here on the blog about this.
and it should not be surprising when wealthy people who know nothing about happiness end up with lives that aren’t that much happier than anyone else’s. Money is an opportunity for happiness, but it is an opportunity that people routinely squander because the things they think will make them happy oftendon’t
You must study the blog and learn every possible way to increase your knowledge of happiness, how to get it and how to use your money to get even more. Here are some of the article’s advised ways
What is, then, the science of happiness? I’ll summarize the basic eight points as best I can, but read the actual paper (pdf) to obtain the citations and details on the underlying studies underpinning each of these principles.
1. Buy experiences instead of things
Things get old. Things become ordinary. Things stay the same. Things wear out. Things are difficult to share. But experiences are totally unique; they shine like diamonds in your memory, often more brightly every year, and they can be shared forever. Whenever possible, spend money on experiences such as taking your family to Disney World, rather than things like a new television.
Again, more posts on my blog.
2. Help others instead of yourself
Human beings are intensely social animals. Anything we can do with money to create deeper connections with other human beings tends to tighten our social connections and reinforce positive feelings about ourselves and others. Imagine ways you can spend some part of your money to help others – even in a very small way – and integrate that into your regular spending habits.
Sharing also brings GOOD KARMA. See my blog.
3. Buy many small pleasures instead of few big ones
Because we adapt so readily to change, the most effective use of your money is to bring frequent change, not just “big bang” changes that you will quickly grow acclimated to. Break up large purchases, when possible, into smaller ones over time so that you can savor the entire experience. When it comes to happiness, frequency is more important than intensity. Embrace the idea that lots of small, pleasurable purchases are actually more effective than a single giant one.
4. Buy less insurance
Humans adapt readily to both positive and negative change. Extended warranties and insurance prey on your impulse for loss aversion, but because we are so adaptable, people experience far less regret than they anticipate when their purchases don’t work out. Furthermore, having the easy “out” of insurance or a generous return policy can paradoxically lead to even more angst and unhappiness because people deprived themselves of the emotional benefit of full commitment. Thus, avoid buying insurance, and don’t seek out generous return policies.
I think this is mainly an American thing. I don’t do this often, I’ m from Merseyside, UK, so I’m not sure about it.
5. Pay now and consume later
Immediate gratification can lead you to make purchases you can’t afford, or may not even truly want. Impulse buying also deprives you of the distance necessary to make reasoned decisions. It eliminates any sense of anticipation, which is a strong source of happiness. For maximum happiness, savor (maybe even prolong!) the uncertainty of deciding whether to buy, what to buy, and the time waiting for the object of your desire to arrive.
When you are buying something, think about it overnight. Commonly known as ‘Sleep on it’. I think the article means significant items. If you did it before buying a daily paper, it could be a waste of of time LOL. Thinking about it, though I stopped buying newspapers a long time ago because the weekly cost mounts up high.
6. Think about what you’re not thinking about
We tend to gloss over details when considering future purchases, but research shows that our happiness (or unhappiness) largely lies in exactly those tiny details we aren’t thinking about. Before making a major purchase, consider the mechanics and logistics of owning this thing, and where your actual time will be spent once you own it. Try to imagine a typical day in your life, in some detail, hour by hour: how will it be affected by this purchase?
7. Beware of comparison shopping
Comparison shopping focuses us on attributes of products that arbitrarily distinguish one product from another, but have nothing to do with how much we’ll enjoy the purchase. They emphasize characteristics we care about while shopping, but not necessarily what we’ll care about when actually using or consuming what we just bought. In other words, getting a great deal on cheap chocolate for $2 may not matter if it’s not pleasurable to eat. Don’t get tricked into comparing for the sake of comparison; try to weight only those criteria that actually matter to your enjoyment or the experience.
This is a good one. Basically, before looking to see how good this item is compared with that one, you should ask yourself do you really need any of them. Or could you hold on to your money.
8. Follow the herd instead of your head
Don’t overestimate your ability to independently predict how much you’ll enjoy something. We are, scientifically speaking, very bad at this. But if something reliably makes others happy, it’s likely to make you happy, too. Weight other people’s opinions and user reviews heavily in your purchasing decisions. Happiness is a lot harder to come by than money. So when you do spend money, keep these eight lessons in mind to maximize whatever happiness it can buy for you.
So What Should You Do?
Read the FULL article and visit the links in it. Again you must study this article and all the posts on my blog and learn every possible way to increase your knowledge of happiness, how to get it and how to use your money to get even more. You will be then living a life leading to lots of Good Karma
Get Yourself Some Good Karma!
How can you do that? See what number 2 above says about sharing.Research shows that sharing HAPPINESS with others will bring you happiness to you and lots of Good Karma.
We are talking about wise with money. Here is a way to save money AND get more happiness and bring happiness to others.
Share this article and all my blog posts with ALL your friends. Share them everywhere . Facebook, Twitter, Google+, etc, etc. Reach out and help me make the world a happier place.It won’t cost a penny LOL.
Love, Peace and Happiness,Tommy
Here is the link:-
- Is Money the Secret to Happiness (psychologytoday.com)
- Service to Others Equals Win-Win (life-counseling.org)
- Don’t Indulge. Be Happy. (nytimes.com)
- Money Can’t Buy You Happiness But Happiness Can Buy You Money (mattkinsella.com)
- How Much Money Do You Need To Be Happy? (forbes.com)