money can't buy happiness essay 150 words

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Money Can’t Buy Happiness Essay | Essay on Money can’t buy Happiness for Students and Children in English

February 14, 2024 by Veerendra

“Money Can’t Buy Happiness” Essay: The problem with the saying, “money can’t buy happiness” is that it’s only partly right. When we think of spending money typically, we tend to think about spending money on things – a new car, a new TV, the latest sound-cancelling headphones and so on.

However, as human beings with sophisticated minds, over time, we often adapt surprisingly well to new changes in our world.

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That new TV we have wanted for so long after a few months is just a TV to us as we have gotten used to the higher clarity, better audio, and the 4K resolution. That new game out in the market, which we will spend a lot of money on, will soon get boring and we will eventually stop playing it. People often equate money with happiness, but that may or may not be the case depending on the context and situation.

Below are given a few examples of long and short essays concerning the topic.

Long and Short Essays on Money Can’t Buy Happiness for Kids and Children

We have provided a few sample essays on the mentioned topic. There is one extended essay of 500 words; a short piece of 100-150 words; and ten lines on the subject of money not buying happiness.

Long Essay on Money Can’t Buy Happiness 500 Words in English

Such long essays are usually helpful for students in classes 7, 8, 9, and 10. They are asked to write these essays for assignments and exams.

We often think that our lives would be so much better off if we just had more money. For example, “that person in my class has the brand new Playstation. I wish my parents were that rich to buy me one.” or “That person has a nice looking Rolex. If only I had the money to buy one.” “If only I had the money to buy a new car.” Hence, the list goes on. But what we take for granted is that once we have enough money to buy that item, we get bored of it and desire something new.

Psychologists call this the “Hedonic Treadmill” – New things always become “old”, and they need to be replaced with newer items.

Another factor we’re not going to be happy with buying things is that we want to compare ourselves to those around us – our families, our friends, celebrities, advertisements, etc.

When we see some new advertisements on TV, we feel like we have to buy it as a celebrity endorses it. When we open social media, we see photos of our friends and relatives who have gone for vacations and trips, and we feel we need the money to go on a vacation to enjoy ourselves as that is the only way to spend time with family properly. But what we don’t realize is comparisons are often insidious and harming, especially if we see ourselves at the non-receiving end.

What we should keep in mind is money always begs for more money. Of course, the main aim of a modern lifestyle is to get a proper job and earn wealth, but making earning wealth the sole purpose of one’s existence is dangerous and harmful. One will never be happy and peaceful and will always yearn for more wealth. He/she will never be satisfied. No amount of wealth can be seen as “enough”. If one’s sole purpose is to accumulate wealth to spend on material goods, then he/she will never be satisfied with their life.

Greek Philosopher, Diogenes says, “He has the most who is most content with the least.” This means that when a person appreciates and knows the value of his earnings, and does not take it for granted, and takes care of it properly, he can be happier than the wealthiest person on Earth.

With this being said, there are ways in which you can utilize your money more happily and healthily; Instead of wasting money on material goods, spend your accumulated wealth on road trips and vacations, picnics, family outings, etc. Getting out of the house and getting the experience of the outside world will have a positive impact on your mental health. Visiting new locations, be it solo, with friends, or family will boost your morale as you visit new places and meet new people, giving you new experiences and will teach you how to use your money carefully. If you have enough money to spare, you should donate some money to charity to help those less unfortunate. Not only will you be doing a good deed, but acts of charity will also teach you to be empathetic towards others.

All in all, the bottom line then is whether money buys you happiness or not is entirely dependent on how you choose to spend it.

Short Essay on Money Can’t Buy Happiness 150 Words in English

Such short essays are usually helpful for students in classes 1,2,3,4,5, and 6. They are asked to write these essays for assignments and exams.

We often think to ourselves, “If only I had the money to buy the PlayStation.”.” If only I had the money to buy a new car”.

Of course, the main aim of a modern lifestyle is to get a proper job and earn wealth, but making earning wealth the sole purpose of one’s existence is dangerous and harmful. We started equating our success to the material things we own in comparison to others.

There is always the question of “Who has the latest iPhone?” If one’s sole purpose is to accumulate wealth to spend on material goods, then he/she will never be satisfied with their life. There will always be a desire for something newer once the “new” becomes “old” again.

10 Lines on Money Can’t Buy Happiness Essay in English

• Focussed on making as much wealth as possible, you may lose the time available at hand.
• Buying things for personal consumption may feel rewarding at first. But using that money for a cause other than personal gain will help in growing a positive personality.
• Money cannot buy authentic relationships like friendship, love, etc.
• Everything isn’t about money, it’s the little things in life that matter the most.
• Money cannot buy time, so use your time wisely.
• Money cannot fix broken relationships.
• Addiction to earning money can cause severe mental stress.
• Money can seem to be “never enough.”
• Materialism can become an unhealthy obsession.
• Money alone cannot buy peace of mind.

FAQ’s Money Can’t Buy Happiness Essay

Question 1. Can money buy happiness?

Answer: Whether or not money buys you, happiness depends on how you chose to spend it. Always hoarding money will cause more anxiety and mental stress. Spending money in healthy ways like, for a vacation, or charity, will help you establish a positive and healthy mind.

Question 2. How to be happy with less money?

Answer: Of course, money is a necessity, but life should not solely revolve around the material gains it brings. If one can refrain from spending money uselessly on material goods, he will be much happier.

Question 3. What is the best way to utilize money?

Answer: Refrain from too much materialism. Instead, spend some of that money on trips with friends/family, charities, etc., as they help you refresh your mind, and help to maintain good mental health.

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Essay on Can Money Buy Happiness in English (150, 200, 250, 500 Words)

Here, we’ve presented essays on “Can Money Buy Happiness” in 150, 200, 250 & 500 word samples. All the essays will be helpful for students of all classes i.e. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 & class 12.

Table of Contents

Essay on Can Money Buy Happiness in 150 Words

Introduction.

The relationship between money and happiness is a topic of frequent debate. While money is essential for fulfilling basic needs and desires, its impact on overall happiness is complex. This essay explores whether money can truly buy happiness.

The Essentials of Life

Money provides access to necessities such as food, shelter, and healthcare, which are fundamental for survival and well-being. It can also offer comfort, security, and opportunities for education and personal growth. These aspects are crucial for a stable and satisfying life, contributing to one’s sense of happiness. However, beyond a certain point, the incremental increase in happiness due to additional wealth diminishes. Studies suggest that once basic needs are met, the correlation between money and happiness becomes weaker.

In conclusion, while money can significantly contribute to happiness by ensuring basic needs and providing security, it cannot guarantee long-term contentment. True happiness often stems from non-material aspects like relationships, purpose, and personal fulfillment. Hence, money can buy comfort and convenience, but not happiness in its entirety.

Can Money Buy Happiness Essay in 200 Words

The question of whether money can buy happiness is a perennial one, sparking numerous discussions and studies. While money is undeniably crucial for meeting basic needs and achieving certain comforts, its ability to purchase happiness remains a subject of scrutiny.

Fulfillment of Material Desires

Money enables individuals to acquire material possessions and experiences that bring temporary joy and satisfaction. From luxurious vacations to the latest gadgets, the thrill of purchasing and owning these items can indeed contribute to happiness. However, this happiness tends to be fleeting, often overshadowed by the pursuit of the next material desire.

The Role of Financial Security

Financial stability provided by money can alleviate stress and anxiety, leading to a greater sense of well-being. Knowing that one can afford healthcare, education, and emergencies brings a level of comfort and security that positively impacts happiness. Yet, the pursuit of wealth solely for security can become a trap, as the constant quest for more may never lead to lasting contentment.

Beyond Material Wealth

True happiness often transcends material possessions and financial wealth. Meaningful relationships, personal growth, and a sense of purpose are invaluable sources of fulfillment. While money can facilitate opportunities for these aspects of life, it cannot replace them.

In conclusion, while money can contribute to happiness by fulfilling material desires and providing financial security, it is not the sole determinant of happiness. True and lasting happiness is found in non-materialistic pursuits such as meaningful connections and personal fulfillment. Thus, while money has its role, its ability to buy happiness is limited.

Essay Writing on Can Money Buy Happiness in 250 Words

The age-old debate over whether money can buy happiness continues to intrigue thinkers and researchers alike. While money undoubtedly affords access to various comforts and opportunities, its correlation with happiness is a nuanced subject.

Material Comforts and Enjoyments

Money facilitates the acquisition of material possessions and experiences that bring temporary joy. From luxurious vacations to the latest gadgets, these purchases can enhance one’s quality of life and contribute to feelings of happiness. However, the pleasure derived from material possessions is often short-lived, leading to a continuous cycle of desire and acquisition.

Financial Security and Peace of Mind

One of the most significant contributions of money to happiness lies in providing financial security. The ability to afford basic necessities, healthcare, and emergencies alleviates stress and anxiety, fostering a greater sense of well-being. Nevertheless, the pursuit of wealth solely for security can become a trap, as the relentless pursuit of more may never lead to lasting contentment.

Diminishing Returns of Wealth

Research suggests that the correlation between money and happiness diminishes beyond a certain income threshold. While an increase in income initially leads to a significant rise in happiness, this effect plateaus as basic needs are met. Beyond this point, additional wealth may not significantly contribute to overall happiness.

In conclusion, while money can provide temporary happiness through material comforts and financial security, its ability to buy lasting happiness is limited. True and enduring happiness stems from non-materialistic pursuits such as meaningful connections and personal growth. Thus, while money has its role, it is not the sole determinant of happiness.

Writing an Essay on Can Money Buy Happiness in 500 Words

The question of whether money can buy happiness is a perennial one, resonating across cultures and generations. While money undeniably plays a significant role in facilitating access to resources and opportunities, its relationship with happiness is complex and multifaceted.

Material Possessions and Temporary Joy

Money enables individuals to acquire material possessions and experiences that often bring immediate pleasure and satisfaction. From extravagant vacations to the latest gadgets, these purchases can enhance one’s quality of life and contribute to a sense of happiness. However, the happiness derived from material possessions tends to be short-lived, fading as the novelty wears off and desires evolve. This phenomenon perpetuates a cycle of consumption, where the pursuit of happiness through material wealth becomes insatiable.

One of the most notable contributions of money to happiness lies in its ability to provide financial security. The assurance of being able to afford basic necessities, healthcare, and emergencies alleviates stress and anxiety, fostering a greater sense of well-being. Financial stability creates a foundation upon which individuals can pursue their goals and aspirations with confidence. Nevertheless, the pursuit of wealth solely for security can become a trap, as the relentless quest for more may never lead to lasting contentment.

The Paradox of Wealth

While wealth can indeed enhance happiness up to a certain point, there exists a phenomenon known as the “hedonic treadmill.” This concept suggests that individuals adapt to increases in wealth over time, leading to a diminishing return on happiness for each additional unit of wealth acquired. Studies have shown that beyond a certain income threshold, the correlation between money and happiness weakens significantly. Once basic needs are met, the pursuit of material wealth alone may not contribute substantially to overall happiness.

Non-Material Sources of Happiness

True and enduring happiness often transcends material possessions and financial wealth. Meaningful relationships, personal growth, and a sense of purpose are integral components of a fulfilling life. Strong social connections and a supportive network of friends and family have been consistently linked to higher levels of happiness and well-being. Likewise, pursuing passions and interests, engaging in acts of kindness, and contributing to the greater good provide profound sources of satisfaction and fulfillment.

The Pursuit of Happiness

In contemporary society, the pursuit of happiness is often equated with the accumulation of wealth and material possessions. However, this narrow perspective overlooks the importance of intrinsic values and non-materialistic pursuits in fostering genuine happiness. While money can facilitate access to opportunities and resources, its ability to buy happiness is limited. True happiness stems from aligning one’s actions and aspirations with personal values, cultivating meaningful connections, and finding purpose and fulfillment in life’s endeavors.

In conclusion, the question of whether money can buy happiness elicits varied perspectives and interpretations. While money plays a crucial role in meeting basic needs and providing a sense of security, its ability to buy lasting happiness is constrained by the diminishing returns of wealth and the primacy of non-material sources of fulfillment. True happiness lies in fostering meaningful relationships, pursuing personal growth, and contributing to the well-being of others. Thus, while money has its place in enhancing certain aspects of life, it is ultimately the intangible qualities and experiences that bring about genuine and enduring happiness.

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Money Can’t Buy Happiness Essay for Students and Children in English

Money Can’t Buy Happiness Essay: The proverb “Money Can’t Buy Happiness” states that money can buy all the materialistic things like cars, houses, and also you can live a luxurious life too but having all the materialistic things surely will not give happiness. Money can be used to buy anything in the world but there is no shop where you can walk and buy happiness and so they say money can’t buy happiness.

When it comes to the question of whether money can buy happiness or not the answer here is that money is just a tool to buy things that give us luxury which in turn will give us happiness. But it doesn’t necessarily increase our happiness. Buying more and more luxurious things won’t really bring you more joy. More money isn’t going to improve your mindset, nor will it bring peace to mind. In other words, you can say that more money can’t buy happiness. There are many aspects which money can’t give.

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Suppose you think a new 24” LED TV will bring you happiness but after having the same 24” LED you see a better option and it makes you feel sad. You want to have better than this. It is not actually the tv that gives you happiness, it is the human nature of having more. A human being is one who is never satisfied. Happiness is actually the state of mind which cannot be achieved by materialistic things. There are many reasons which prove that money can’t buy happiness.

Buying stuff won’t make us happy, because we tend to compare it with others. Comparisons are ridiculous and quite often harmful to us.

What is Happiness?

Is it a big car, a luxurious house, or a big-screen LED TV?  Buying any new stuff feels great at first.  But gradually months and years later, the excitement decreases. The bright, shiny, newness will eventually go down and you’ll want a new one or more.

Happiness is a feeling. Feeling that money can’t buy. If someone asks are you happy, what will you answer?.

Happiness means satisfaction. Be satisfied with what you have in your life.  Not to crave on the things that you don’t have.

Reasons Why Money Can’t Buy Happiness

There are some very good reasons why having more money doesn’t necessarily make a person happier. It can actually turn the opposite. Many wealthy people, for example, are actually under stress.

Here we mention few reasons why money can’t buy happiness

More Stuff More Work

Many think that if you get more luxurious stuff our life would be happier but that isn’t true. The more the stuff, the more work it takes to take care of it. Day by day everything has become larger. Today people want larger houses to live in but keeping it clean and maintained is again a challenge. It takes more time and effort to keep your mansions neat and tidy.

More Stuff Less Free Time

As you own more stuff, you will get less free time because you’ll be spending time in the maintenance of the things you bought. Time is very important for everyone, but much of our free time is spent doing house chores and taking care of our stuff. You can use the money to hire maids but that is not possible in every situation.

More Stuff More Expenses

The more stuff you own, the more money you will have to spend to maintain it.

For example, bigger houses need more repairs than smaller ones. Unfortunately, repairs are a necessary part and can be expensive.

The more stuff you own, the more work and money is spent to maintain it. Having less stuff can free up some of your time to do things you enjoy. So money cannot always bring you happiness.

Materialistic things give Temporary Satisfaction

Money can buy temporary happiness. Everyone experiences themselves on cloud nine when they’ve bought something they’ve been desiring. These feelings of happiness are usually temporary. This happiness soon fades away and that new thing is no longer interesting.

Scientists have proved that we get more happiness from our experiences but not from materialistic things. And also they don’t cost much.

Time spent with your loved ones will give you more happiness than buying a costly item that you were eyeing for a long time.

Money Can’t Buy Family, Friends and Love

Family, friends and your loved ones are the people who will make you special. They are the people whose surroundings will make you happy. And definitely, money cannot buy these relationships.

When people are dying and taking their last breath they don’t want to see the things they own or the achievements of their life. All they want to see are their loved ones.

It’s their relationships that really matter but not stuff.

True love doesn’t care whether your loved one is rich or poor. That person will value you for who you are and not money.

Money Can’t Give You Peace of Mind

A person can live without a big house, he can survive without driving a car but cannot live with a stressful mind. True happiness has nothing to do with the bank balance. More money also sometimes steals away the peace of mind because of insecurity.

Changing our outlook for money is the first step in achieving true happiness, the kind of happiness that comes from being satisfied with what you have.

In conclusion, once you have your basic needs like food, water, shelter, clothing and the feeling of safety, then money can’t buy happiness.

It’s up to you to build meaningful relationships, enjoy the little things in life, and start spending your money on experiences and other people rather than materialistic things.

Essay on Money Can’t Buy Happiness

Students are often asked to write an essay on Money Can’t Buy Happiness in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Money Can’t Buy Happiness

The meaning of happiness.

Happiness is a feeling of joy that comes from within. It’s when we feel good about our lives and the people around us. It’s not something you can go to a store and buy like a toy or a candy bar.

Money’s Role

Money is useful. It helps us buy things we need like food and a home. It can also help us have fun, like when we buy a game or go on a trip. But these things only make us happy for a short time.

Riches and Smiles

Some rich people have lots of money but are not happy. They may feel lonely or worried. This shows us that even with all the money in the world, you can’t buy a happy heart.

Lasting Joy

True happiness comes from love, friendship, and good memories. These are things that money can’t buy. Doing kind things for others or spending time with family and friends makes us truly happy.

Also check:

• Speech on Money Can’t Buy Happiness

250 Words Essay on Money Can’t Buy Happiness

What is true happiness.

True happiness is a feeling of joy, contentment, and well-being that comes from within. It’s not something you can pick up from a store or order online. Happiness is about feeling good inside your heart and mind, not about how much stuff you have.

Money and Things

Money can buy a lot of things like toys, games, and candy. But these things only make us happy for a little while. After some time, new toys become old, and the excitement fades. The joy that comes from things you can touch and buy does not last forever.

Love and Friendship

Think about the times you laugh with your friends or get a hug from your family. These moments give you a warm feeling that stays with you much longer than the happiness you get from a new toy. Love and friendship are priceless, and you cannot buy them with money.

Helping Others

Have you ever helped someone and seen them smile because of what you did? This kind of joy comes from giving, not getting. When you help others, you feel good on the inside. You can’t put a price tag on the happiness that comes from being kind.

The Simple Things

Often, the best things in life are free. Playing outside, talking with friends, or reading a good story can make you very happy. These simple pleasures do not cost anything, yet they fill us with happiness.

In conclusion, money is useful for buying things we need, but it cannot buy true happiness. Happiness is about love, friendship, kindness, and enjoying the simple things in life. These are treasures that money can never buy.

500 Words Essay on Money Can’t Buy Happiness

The meaning of true happiness.

Many people think that having a lot of money means you will be happy. They believe that when you are rich, you can buy anything you want, and that will make you happy. But true happiness is not something you can buy with money. True happiness comes from love, good health, and being content with what you have.

Love and Relationships

Think about the times you feel the happiest. Is it when you get a new toy, or is it when you are playing with your friends? For most of us, being with our family and friends makes us feel good. Laughing, playing games, and sharing stories are moments that make us happy. These moments do not cost anything. Money cannot buy the love of your family or the fun times with your friends.

Health is Wealth

Being healthy is very important for happiness. Sometimes, rich people are not healthy. They may have money to go to the best doctors, but they cannot buy good health. Eating well, getting enough sleep, and playing outside can keep you healthy. These things are better than any medicine and they do not need a lot of money.

Contentment is Key

Contentment means being happy with what you have. It does not matter if you do not have the newest video game or the latest sneakers. Being thankful for what you have is a big part of being happy. If you always want more, you will never be happy. Even if you have a lot of money, you will always be looking for the next thing to buy. But if you are content, you can find joy in the simple things in life.

The Best Things in Life Are Free

Some of the best things in life do not cost any money at all. Watching the sunset, playing in the park, and reading a good book are things that can make you very happy. You do not need to spend money to enjoy these things. Nature, art, and imagination are always there for you to enjoy.

Money and Happiness

Money can help you live comfortably. It can buy you a home, food, and clothes. But after your basic needs are met, more money does not mean more happiness. People with less money can be just as happy, or even happier, than rich people. When you have a lot of money, you might worry about it too much. You might be afraid of losing it or think about how to make more. This can make you feel stressed and not happy.

In conclusion, happiness is not something you can buy at a store. It comes from love, health, being content, and enjoying the simple things. Remember, the most precious moments in life are often the ones that money cannot buy. So, smile, play, and enjoy every day, and you will find that happiness is all around you.

That’s it! I hope the essay helped you.

If you’re looking for more, here are essays on other interesting topics:

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Home — Essay Samples — Life — Love — Money Can’t Buy Love or Happiness

Money Can't Buy Love Or Happiness

• Categories: Love Money

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Published: Aug 31, 2023

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Money Can T Buy Happiness

This essay will explore the adage “Money can’t buy happiness.” It will discuss the relationship between wealth and well-being, examining how and why increased income does not necessarily lead to increased happiness, and the factors that contribute to genuine contentment and fulfillment. On PapersOwl, there’s also a selection of free essay templates associated with Happiness.

How it works

Since happiness is a unique experience, the factors that promote happiness can of course be different for everyone. However, scientific research in the last 20 years has come a long way to identify many common factors that contribute to our happiness. Money (or income) is one of them. When we encounter the questions if feeling happy is related with money or not, some will use their opt in favour of money. However, the others, including me, claim money has a tiny role and comes not in the leading positions when compared with other effects.

In its simplest form, we can say: Yes, money is affecting our happiness. However, after this sentence, I can add a sentence that starts with “but’’.

What dimension of happiness is affected by money? There are many answers to this question. Because different theories and different disciplines (such as psychology, economy) can define in different ways. However, there is a general definition that is now accepted in the field of psychology. In fact, if we look at the dimensions of happiness rather than definition, we can better understand this concept.

Happiness is a concept with both emotional and cognitive dimensions. Emotionally feeling good means experiencing positive emotions frequently rather than experiencing negative emotions less often. Some experts define this as emotional balance. In the cognitive sense, happiness reflects the person’s perception of his / her life as satisfying. Many studies show that emotional and cognitive aspects of happiness can be affected by different factors. Money is one of these factors. For example, the monthly income of a person is important for life satisfaction and does not show a meaningful relationship with the emotional dimension of happiness. So as our income increases, we are beginning to perceive our lives as more satisfying. However, increasing income does not affect our daily emotional state much. Therefore, it may be important to know in what sense our income makes us happy.

If the quantity of money increases, does your level of happiness also increase? The answer to this question can be summarized as follows: While more money does not bring happiness, little money can make you feel emotionally worse. Therefore, making less money than a certain income level can reduce our quality of life. On the other hand, excess money after reaching a certain economic standard can increase our life satisfaction. The surplus money that comes after reaching a certain economic standard may not be emotionally happy. For example, in a study conducted by Kahneman and Deaton in 2010, it was seen that the winners of more than US $ 75,000 a year in the US compared to the winners of 75,000 US Dollars and the winners above this figure were not happier, or rather, their daily emotional states did not change.

In fact, the main point here is that if our earnings are enough to capture the living standards of our own, then this encourages us to feel good. However, gaining more than this income does not give us any extra happiness. In other words, I would not be very happy if I made so much money, it might not be meaningful to make guesses. Connecting our happiness to money may leave us completely powerless. Because when we get it and catch it, we feel happy but then we start searching for more.

Why is earning a lot of money problem for happiness? After a certain level of income (I said this is an average of $ 75,000 a year for America), there are a few reasons why money doesn’t make us happy in the emotional sense after a certain amount of money. One of these is that when people earn more money, people start to feel less gratitude for small things. There are also researches that support the fact that people can not really be happy with some tiny things as they earn more money. Another reason is that as income increases, people stop doing activities that will make them feel good in everyday life. For example, people with high incomes spend more time on working, shopping, child care or other obligatory jobs than being interested in socializing or hobbies or leisure activities that make them feel good. This can restrict their happiness.

How would spending money make us happy? Not having enough money is enough for a good life. The relationship between money and happiness is that a high income contributes to our happiness only when we spend it for those who need it or to buy gifts for our loved ones. For example, in a series of research by Professor Dunn and his friends, it shows that when university students spend about $ 10 or $ 20 of money to buy something for someone else, they feel better than spending time for themselves. Other studies show that they feel better when they use a certain amount of money given to them to experience experiences such as traveling or a little trip. His research in many rich and poor countries also shows that person is happier when almost everyone pays his / her money to a charity. Briefly, research tells us how our use of money is effective in our happiness.

Well, why do we choose to spend money for an article if it makes us happier to spend money for an experience or for someone else? One of the reasons for this is that our experiences are temporary and we think that what we buy is more permanent. For example, instead of spending money to go on a concert or a trip, we can choose to buy a new television which we think will be more permanent. So again, we can make mistakes when guessing what makes us happy.

Of course the outcome is not to spend our money for others and not to spend money. It is important for our happiness and life satisfaction to meet our own needs. It may not make sense to give our money to others in debt. I’ll talk about the details of the debt in the future.

Does it really make you happy to have something new? As I said, we’re pretty bad at predicting what makes us happy. We think we will be very happy when we have a new phone. So when our happiness increases with a new event, situation or something that we just have, we get used to the good feelings that we have experienced, and after a while we return to our old happiness level. Therefore, a new dress we bought brings a short time of happiness, and after a few days or even a few hours, we realize that we are not so happy or that our happiness lasts shorter than we expected.

Experiences are not like that. When we have a trip, a concert or a cinema experience, these experiences can help us to meet our psychological needs and make us feel better for longer. Because experiences are usually things we share with others, which brings us closer to others. We know that this kind of interpersonal relations has an important place in our happiness. Meeting the need for bonding with others is an experience that makes us feel good. This does not mean that the things we buy will not make us happy or give up on doing so. In fact, it is important to know that we are going to make a mistake when we guess what makes us happy. Moreover, we must be aware that our happiness may not be so long when we have something we desire, and that we may be disappointed that we are not happy again after we have reached the things we have been connected.

Does saving money make you happy? Our debts have a negative impact on our happiness. On the other hand, having an accumulation to keep us safe in the economic sense can contribute to our happiness. In fact, the debt causes conflicts in marriage and therefore negatively affects the happiness of couples. The negativity of being indebted has a stronger impact than the happiness of our experience. In other words, it may not make us happy to take a trip in debt and borrow again; The stress of debt can be more effective than the beauty of our experiences.

How accurate is it to compare ourselves with others? Another important factor in the relationship between money and happiness is relative income. Many people prefer to compare their earnings with the earnings of those around them (usually their peers). This situation, which is frequently seen especially among white-collar people, is not very useful. Research shows that the happiness of the group or the person we are comparing decreases as our income increases. But this is not always valid for everyone. For example, when comparing income in the early part of working life has a positive effect, a similar comparison in later times may adversely affect happiness. People’s income comparison with others at a young age and in their careers may be positive in terms of predicting their future earnings and increasing their motivation. However, the comparison of income after coming to a certain position may adversely affect happiness as it may lead to negative thoughts about the future.

On the other hand, according to the results of our research, it is better to see that our income is much more than one of our level (or our peers in general), especially in terms of career. However, social comparisons often rebound and leave a negative impact. Therefore, I cannot say that economic comparisons are very healthy.

Furthermore, your income from the past, your income today and the income you expect in the future can be quite important when looking at the relationship between money and happiness. Now it’s better to win more than we did in the past. I already mentioned above how the comparison affects happiness. If we are going to make us happy, we will be able to accept this idea even if we know that we won’t earn 8 billion a month. So even if it is not rational, we can hold onto a thought that makes us happy. For example, it is quite useful to appreciate what we have in economic terms and to remind them often. A materialist lifestyle may have negative consequences for psychological health. For example, when we look at America, people have more things (more cars or electronic goods per capita) compared to 50 years ago, but are they happier in the last 50 years? No. There is even the fact that they owe more. Especially nowadays it is quite natural to have more things to shop, to have more things and to take part in consumer culture. People may need it. However, it can affect our quality of life and relations badly. The life satisfaction of the people who make the habit of looking for riches decreases and they are less happy during the day.

In short, I can say that constantly thinking of making more money and looking for wealth, wishing to have more make us unhappy. Money is always a need but only enough to lead a good life. However, some people have different thoughts on this subject and these thoughts are actually confusing. For example, some say that expecting an increase in our financial situation has a positive impact on both general life satisfaction and economic satisfaction. So in the future – compared to today – we expect to be in a good economic situation, in other words, it is good to think optimistically about it. The financial situation that individuals think that they will have in the present and in the future contributes to their happiness. Another thing is that if there is an unexpected positive change in our income, our life satisfaction increases but in case of an unexpected negative change in our income, our life satisfaction is adversely affected. In other words, if we make an expectation error about our future financial expectations, this affects our life satisfaction badly.

What about comparing wealthy and prosperous countries with poor ones? I think that welfare countries are happier. Developed countries like Denmark, Finland, Norway and Canada are the happiest countries. Poor African countries appear to be at the end of the list. However, it should be kept in mind that the average levels of happiness in the country are taken into account. So there are unhappy people in rich countries, happy people in poor countries. In addition, while thinking about this issue in the framework of the above, it would be appropriate to make an evaluation. If we look at countries, the average income level is important for happiness and life satisfaction. But income, or money, is not enough to explain the difference in happiness between countries. In addition to income, factors such as democracy, social rights, human rights, security and trust are important factors in the level of general happiness of the countries.

As a consequence, the relationship between money and happiness is not that simple. Yes, money makes a sense of happiness, but there are many factors that prevent or allow it. Therefore, it is not quite right to make a comment without taking into account the circumstances and conditions. I believe that we can encourage our happiness for what we have. Because we know that we adapt to almost every situation. When we get a success, we are happy when we buy an item we want; but after a while we get used to it and we can return to our old level of happiness again. But it is also possible to slow down this harmony, or to be more realistic.

Work cites:

• https://wws.princeton.edu/sites/default/files/content/docs/news/Happiness_Money_Summary.pdf
• https://news.harvard.edu/gazette/story/2008/04/money-spent-on-others-can-buy-happiness/
• https://www.nytimes.com/2006/02/08/health/materialism-is-badfor-you-studies-say.html

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Does Money Buy Happiness? Essay

Whether or not money can buy happiness is a continued debate. Billions of people in all parts of the world sacrifice their ambitions and subconscious tensions on the altar of profitability and higher incomes. Millions of people dream to achieve the level of wellbeing, when earning money will no longer be a problem to them. Legal or illegal does not really matter, as long as these strategies lead individuals to the desired monetary outcomes.

Professional economists assert that more money does not buy happiness. As a result, it makes no sense for people to pursue money. Yet, the reality is quite different, as money, wealth, high incomes, and wide opportunities which they open make people extremely satisfied. Based on the current knowledge of economics, the opportunity costs of pursuing money can be extremely high. Therefore, it is better to pursue money for a purpose rather than for its own sake.

People always wanted more money. Money inspired professional economists and bank robbers. Millions of people would even try to sell their souls for a reasonable sum of money. Nevertheless, the debate on whether or not money can buy happiness continues to persist. Globalization and consumerism have turned money into the main criterion of individual and professional success: the more money you earn the better person you are.

However, professional economists suggest that money does not make people happy. The current state of research claims that, despite the rapid increase in personal incomes, the percentage of people who consider themselves happy has not changed (Lee, 2005). Similar disconnects between income and happiness were found in most advanced economies, including Japan, Europe, and the United Kingdom (Lee, 2005).

However, the general inconsistency of these research results is too obvious to ignore. First, what does it mean for people to be happy? Professional economists may have profound knowledge of economic concepts but can hardly make happiness measurable. Second, can people be happy with their incomes if they always want more? Most probably, at any given point, individuals will feel dissatisfied with what they have and will try to obtain more.

I agree that money buys happiness, but this happiness is never constant. This idea is further supported by Lee (2005), who assumes that people will make all sorts of sacrifices to get money, but their happiness will be temporary at best. Lee (2005) relies on the two main premises.

First, “happiness people realize from having more income results from having more relative to others in some reference group, not from having more absolutely” (p.389). Simply stated, individuals always compare their incomes and positions to those of other individuals. They want to have more relative to what others have or can have. However, their happiness wanes as soon as others achieve a better social position, income, or level of wellbeing.

Second, the nature of sensory adaptation in humans explains why people are never happy with what they have: human receptors become irresponsive to the continuous presence of one and the same stimulus (Lee, 2005). As a result, the more money individuals earn the happier they become; however, with time, money turns into boredom and no longer brings happiness.

Obviously, it does make sense to make money, since money is the main instrument of exchange and the source of unlimited opportunities for everyone. Money opens the gateway to a broad range of material and nonmaterial values, including health and education.

We should never belittle the significance of money merely because it brings only temporary satisfaction (Lee, 2005). Yet, it is always better to pursue money for a purpose rather than for its own sake. Money for the sake of money makes little sense. Money is not the end but only the means of achieving some goal, like purchasing a new house or curing a sick child.

Moreover, a common increase in individual wealth is always a positive externality, as richer countries experience lower childbirth mortality, fewer traffic deaths, better health, and longer life expectancy (Lee, 2005). We live in society and our wealth necessarily benefits others, through taxes and charity. Therefore, it always makes sense to pursue money to improve individual and societal wellbeing.

The opportunity costs of pursuing more money can be extremely high. Opportunity costs are everywhere, as every decision necessarily involves tradeoffs. Individuals sacrifice their families and personal wellbeing to become successful, rich professionals. Others apply to illegal activities and decisions to earn their wealth. In my own life, my decision to become educated was associated with major opportunity costs. First, the costs of education impose a heavy burden of financial obligations on me.

I could use this money to meet other life goals. Second, I spend more time at work and earn more money; I lose considerable earnings each time I pursue a better grade. Third, not all courses are equally pleasant: some courses seem not to be tailored to the specific needs and demands of the student majority (Frank, 2005). I could use this time to improve my knowledge of the disciplines that are important for my future career. To a large extent, the dollar cost of education does not reflect all opportunity costs.

Yet, many students forget that higher education provides a variety of benefits that helps to decrease most, if not, opportunity costs. Statistically, college and university graduates earn $14,000 a year more compared with their non-educated counterparts (Anonymous, 2003). The social value of higher education is difficult to underestimate (Porter, 2002). Education enhances workplace productivity and stimulates professional growth. Therefore, the marginal utility of a university degree increases.

Almost all economists treat opportunity cost as the main economic concept (Frank, 2005). Every single decision is inevitably associated with one or more opportunity costs. These involve explicit and implicit costs of other opportunities (Arnold, 2008; Baumol & Blinder, 2008). Opportunity costs reflect the significance of the cost-benefit principle that governs most individual decisions (Frank, 2005). Introductory economics courses must place particular emphasis on teaching students how to weigh benefits and costs of various decisions (Frank, 2005). This knowledge of economics and economic principles will subsequently reduce the opportunity costs of education.

Whether or not money can buy happiness is a continued debate. Billions of people in all parts of the world sacrifice their ambitions and subconscious tensions on the altar of profitability and higher incomes. The current state of research claims that, despite the rapid increase in personal incomes, the percentage of people who consider themselves happy has not changed.

However, these results do not reflect the real order of things in the world. Money buys happiness, but this happiness is never constant. The more money individuals earn the happier they become; however, with time, money turns into boredom and no longer brings happiness.

Moreover, a common increase in individual wealth is always a positive externality, as richer countries experience lower childbirth mortality, fewer traffic deaths, better health, and longer life expectancy. Yet, the opportunity costs of pursuing more money can be extremely high. Every single decision is inevitably associated with one or more opportunity costs. Knowledge of economics and economic principles will subsequently reduce the opportunity costs of education.

Anonymous. (2003). Report puts dollar value on education. Georgia College & State University. Web.

Arnold, R.A. (2008). Microeconomics. Boston: Cengage Learning.

Baumol, W.J. & Blinder, A.S. (2008). Microeconomics: Principles and policy. Boston: Cengage Learning.

Frank, R.H. (2005). The opportunity cost of economics education . The New York Times. Web.

Lee, D.R. (2005). Who says money cannot buy happiness? The Independent Review, X(3), 385-400.

Porter, K. (2002). The value of a college degree. ERIC Digest. Web.

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IvyPanda. (2018, October 12). Does Money Buy Happiness? https://ivypanda.com/essays/does-money-buy-happiness/

"Does Money Buy Happiness?" IvyPanda , 12 Oct. 2018, ivypanda.com/essays/does-money-buy-happiness/.

IvyPanda . (2018) 'Does Money Buy Happiness'. 12 October.

IvyPanda . 2018. "Does Money Buy Happiness?" October 12, 2018. https://ivypanda.com/essays/does-money-buy-happiness/.

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