Can money buy you happiness?
Well, let's just say that this question is quite a controversial one. In the past, I had several disagreements with my friends on this topic. So, I decided to write an article about it; cause why not! I will give an account of my view about this statement in the past and my opinion now. How and why my perspective changed.
Before, I would strongly agree that money cannot buy you happiness. I will say that I am not a materialistic person in the sense that buying designer clothes, trendy items and the latest iPhone is the least of my concern. I believe that it is the little things in life that makes you happy: reading Harry Potter books for the millionth time, watching a movie with my family on a Sunday night at home while sipping some hot chocolate, successfully mastering the new song I learnt on the guitar, listening to One direction songs before going to bed, binge-watching fan edits of One Direction of youtube[ which are amazing by the way], petting my dogs and simply talking to friends and family.
However, I do acknowledge that money can bring you comfort in life. For instance: living debt-free, having no stress about where you are going to spend the night and even when are you going to get your next meal. Some people live in absolute poverty and spend their nights in the streets, live in overcrowded houses with a lack of privacy and no place to study. They will surely agree that money can buy them happiness, improve their standard of living, meet their basic needs and wants, improve their conditions of living and simply have a secure place where they can live comfortably and happily in their houses.
Moreover, money in itself cannot make you happy.
However, indirectly, money can help you buy the things that would then make you happy. For instance, if you are a book-lover, imagine all those books you could purchase in several different editions. If you are a musician, money could enable you to buy as many guitars, pianos violins as you like. If you are a food lover, you could purchase all foods you dreamed of. Let’s not forget all you cars lovers out there who would instantly buy their dream sports car from their childhood. Money can enable you to give back to your loved ones: buy a house for your financially struggling parents. You can even go on a dream vacation with your family or friends or even by yourself- cause why not. Also, with money, you can attend the concert of your favourite singer and have a blast there. Surely that will make you happy. If ever someone you love is in desperate need of medical treatment, you will need money to pay for the medical expenses.
So, what conclusion have we reached? Can money buy you happiness?
My answer to that is simply - to some extent
For those who have some economics knowledge, I will be using the economies and diseconomies of scale concept. Basically, for those who are unaware of this, it says that as firms' output is increasing, firms will be enjoying lower costs of production- economies of scale. However, after passing a certain level of output, costs will start increasing despite the increase in output- hence diseconomies of scale. Even if you did not understand, it is fine, I will apply it to the happiness and money concept.
According to my point of view, in the start money will bring you happiness. Let's say, you have a business that blew up and you are now a millionaire. You must be dancing with joy and making plans on how to spend the money. You buy your dream sports car, a luxurious house with a beautiful interior designing and an indoor pool. Your house has one room for working out, one for studying, one library, one for dancing and much more. It must be feeling like heaven.
Vacation- Hawaii, here we come
Buy a brand new iPhone to take a mirror photo boosting about my iPhone on Instagram- check
You will see that as time goes by, money will no longer make you happy, hence the diseconomies of scale in economics. It does not mean that you are no longer experiencing happiness. But instead, money is having less contribution to making you happy. You have already bought your dream car, dream house, dream vacation. You have already relished all food in the world. Now, what?
Now, you will realise only money cannot bring you happiness. It has to be complemented with other factors. You will start valuing time with your family, parents, partner more. You will put your leisure and health before work. You will not secure the deal that will mean spending 2 months away from your family. At this point, it is the little things in life that makes you happy.
In the end, what is happiness?
Is it watching your favourite sports team win
Is it succeeding at school
Is it making your parents proud
Is it gaining status in front of your peers
I believe happiness is a state of mind where your mental health is at peace. Happiness is having a good night sleep without crying yourself to sleep. Happiness is loving yourself and being at peace with yourself.
Lovena (author) on May 11, 2021:
thank you :)
that's a really nice saying!!
MUHAMMAD IRFAN AHMAD from RAWALPINDI on May 11, 2021:
Most welcome, I respect your balanced opinion regarding money. A saying goes, "Money makes the mare go."
Lovena (author) on May 11, 2021:
Hello Arni, indeed as we grow up, we start realising the importance of money. While money in itself may not make someone happy, money is important so that we can meet our basic needs.And yes, money may not be everything but it is indeed something.Thank you very much for your comment.
Lovena (author) on May 11, 2021:
Hello, Muhammad Irfan Ahmad. I certainly agree with your point that indeed health is our greatest gift and not money. As you said, money is not the solution to all the problems in the world. I still do believe that in a way while money cannot solve all our problems, having no money will on the other hand increase our problems. But, I fully agree with you that health is wealth. Hopefully your health improve and you get better!!Thank you very much for your comment.
Arni Abueva from Manila, Philippines on May 10, 2021:
When I was younger, I also thought that money cannot buy happiness. Now that I'm older, the stress brought about by adulthood makes me think otherwise. Money may not be everything but it is something. It can help you have the things that brings happiness and makes you feel fulfilled as an individual. So I guess to some extent, money could buy happiness.
MUHAMMAD IRFAN AHMAD from RAWALPINDI on May 10, 2021:
Good essay, indeed! but i am afraid i would like to disagree to some extent. I have money but poor health. Money won't buy me good health. I think health is wealth. Despite the efforts of the best doctors in the world some people are cured. Despite having heaps of wealth the world richest man could not make his wife happy. To some extent money settles our worldly issues i do agree with your point of view but its not the solution to all our problems. Yes, donations bring heavenly help and health. Helping others bring happiness. In this context money buys happiness.