It is debatable to say whether money can buy happiness. While many of us go through life with pursuit of money on our minds, we are often told money can’t buy happiness. Some say that money provides basic comforts like shelter, food, power and that brings happiness. On the other hand, some disagree because best things in life are free and money can’t buy the knowledge and life lesson. I believe that a fundamental question, can money happiness or not, should be discussed to understand the role of money on our lives. In this synthesis paper, I’m going to argue if there is correlation between money and happiness.
Happiness is hard to define as everyone has different perspective from their own experience. Happiness is a state of mind. It is a state of being. When people are happy, they show positive emotions, such as cheerfulness, delight, and pride. Happiness always come with great news like getting promotion or if there is a new born in the family. It is the feeling of how good we feel on daily basis.
Humans are very sensitive to change. When we get a raise or commission, we really enjoy it, but we adapt at incredible speeds to our new wealth. Some studies have shown that in North America by Matz, Gladstone, and Stillwell shows that additional income beyond $75,000 a year ceases to impact day-to-day happiness. In fact, people who win the lottery often report becoming extremely unhappy. They often end up spending all the money, going into debt and experience ruined social relationships. So, surely money can’t really buy happiness.
In this 2016 article “Money Buys Happiness When Spending Fits Our Personality” suggest that the problem may be in the way we spend money. Instead of buying things for yourself, try giving some of it to other people. Studies show people who spend their money on others feel happier and while people who spend money on themselves don’t necessarily become less happy, their happiness is unchanged. The same principle has been tested on the teams and organizations as well. One experiment showed that instead of organization writing large checks to a charity, dividing the amount amongst the employees and allowing them to contribute to a charity of their choosing increased their job satisfaction. Similarly, “money alone will not bring happiness but what we do with the money brings happiness. One is not going to be happy by receiving money but by giving and sharing things with others” (Matz). Instead of buying expensive product that will provide one-time experience for few years, a 3-dollars coffee with friends will be different each time, offering unique access to happiness opportunities.
Whereas, article by psychological science, The Pursuit of Happiness: Time, Money, and Social Connection, discussed some of the instance money can’t bring happiness. Mogilner stated, “money cannot buy general knowledge, or a deceased loved one and the memories made with them. Happiness is not determined by what your bank account could afford, it is simply appreciating the small things life brings you” (1348). This simply means that money cannot bring back a memory made with someone you loved who passed away. If you lose valuable item, money could bring it back. Money can replace broken item too. However, it cannot bring back your deceased loved one. Money cannot buy everything you desire in life. He mentions although there is doubt that when it comes to money, lot of us believe that only rich people are happiest because having lots of money could be used to have excess to fancy and expensive goods but would only gain limited satisfaction. In addition, the warmth and sentiments cannot be purchased from money.
Besides, the most important goals in the life for a multitude of people is accumulating money because it makes life much easier. For example, you want to travel places, you can buy a helicopter to get you to place but similarly, a regular car would do same but matter in fact that one gets to your place faster while other takes time to reach ultimate destination. Money can buy whatever you desire for short run, but for the long run, it is your kindness and selfishness towards other that brings happiness and joy. Therefore, happiness is not something you can buy from money but is earned.
Both articles agree that though money is desired by everyone, but it cannot buy everything. They both concluded helping other brings great satisfaction. Article by Matz shows that money does bring happiness and he explained that the happier people are those who use their money wisely. Matz’s article shows that rather than spending big amount on something that is temporally, use small amount on something that will bring happiness in relationships in daily basis. To plan for bigger event, sometimes people scarifies smaller event, and, in the process, they lose all happiness they could enjoyed. This shows that money does matter and how to imply matter more. While on the other hand, Mogiler’s article agree that sharing money with other does bring happiness in one’s life yet it cannot replace the things that are gone. He future went to explain that money certainly cannot bring back our passed loved ones. It cannot buy the memories made with them. It is important that to spend time creating memories than striving to earn money to become rich because money can’t buy time. Make use of every minute because money cannot guarantee true happiness.
Lastly, upon looking at all the above arguments, I strongly conclude that though money does matter and brings happiness in one’s life through sharing what you have to others in need. Even though money is important, but it cannot buy eternal joy in life. It is a basic source to fulfil our everyday necessities. Personally, my true happiness is having a loved one around to support me in difficult time, encourage me be better person, being loving and kind, and moreover sense of inner peace. It is not completely true that hands down it the main source of happiness. For me, giving a little of what is available is happiness, getting support from loved one is happiness, learning is happiness, and making usage of what we must make better future is happiness.
Works Cited
- Mogilner, C. (2010). The Pursuit of Happiness: Time, Money, and Social Connection. Psychological Science, 21(9), 1348-1354. Retrieved from http://www.jstor.org.ezaccess.libraries.psu.edu/stable/41062376
- Matz, S. C., Gladstone, J. J., & Stillwell, D. (2016). Money Buys Happiness When Spending Fits Our Personality. Psychological Science, 27(5), 715–725. https://doi.org/10.1177/0956797616635200
