Money Can’t Buy Happiness, Can It?

We all know that money doesn’t buy happiness, but wouldn’t you rather cry in a Ferrari?

But can you get happiness purchasing a Ferrari? Buying things can feel superb, but there is a difference between buying things that make us happy and literally buying happiness.

What are the crucial things we should know regarding the relationship between the things we buy and our emotional well-being?

1. Correlation isn’t causation

Having a good amount of cash may remove some worries in the short term mostly because you don’t have to worry about money any more, but it doesn’t improve your state of happiness in the long term. Although if you do the right things with money, you can be happy.

Wouldn’t going to a friend’s wedding make you a lot happier than buying a new pair of shoes?

2. The ceiling

Say you have sufficient money to live a comfortable life, to live in your own place, a car to take you around and the occasional enjoyment. Having money beyond that doesn’t increase happiness.

There is a ceiling that is the level at which you have enough money to spend with people you like.

3. It’s relative

The happiest country according to UN’s annual World Happiness Report was Denmark, which somehow didn’t even land in the top ten countries with highest annual income.

It’s true that whenever we see our neighbour with a new car or new pictures of their holiday in Hawaii, a competitive part of us comes out. This places that desire to crave for more money to be happier.

4. Control is crucial

Many of us can do more to be happier with 30$ than others can with $3,000, and it all relates back to how we’re spending the money. Money is similar to health if we don’t have it, it affects us negatively. But when we do have it, we tend to take it for granted.

5. Get to know yourself

Will you spend more money if you have a card or cash? Do you need that expensive coffee to work every day? Getting on a path that you know where you want to go has benchmarks that you have to knock down.

The only person who can make changes to ensure your happiness is you. The first step is to acknowledge the impact money has on it. You have to take corrective steps to improve the relationship between money and happiness.

The trick is to make sure you’re investing in your happiness and not purchasing it.

If it’s that holiday to Bali or a new purse, it’s all about balance. Make sure you have money for those unexpected emergencies and the daily needs.

Money can never buy happiness, but it can give you the stability which makes happiness an attainable goal and not a dream. Maybe not at the level of happiness as this little girl with her dog but happiness nonetheless!