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Ear to the Ground

Study: Money Does Not Buy Much Happiness

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Posted on Jul 2, 2006

According to a new study, not only does a higher income not make you much happier, but people with higher incomes tend to be tenser and spend less time on simple leisure activities.

  • The Washingon Post has more.

  • Live Science:

    Your next raise might buy you a more lavish vacation, a better car, or a few extra bedrooms, but it’s not likely to buy you much happiness.

    Measuring the quality of people’s daily lives via surveys, the results of a study published in the June 30 issue of journal Science reveals that income plays a rather insignificant role in day-to-day happiness.

    Although most people imagine that if they had more money they could do more fun things and perhaps be happier, the reality seems to be that those with higher incomes tend to be tenser, and spend less time on simple leisurely activities.

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    By saws, February 17, 2007 at 4:44 pm #
    (Unregistered commenter)

    i agree. happiness is sth. inside ourselves can’t be bought or sold. the greatest source of happiness is GOD. connect yourself to him and you’re the happiest person in the world.

    Report this

    By DR. ARTFREDO C. ABELLA - LA TRINIDAD, BENGUET PROV, August 30, 2006 at 4:36 am #
    (Unregistered commenter)

    I trully agree with the contention that money does not buy much happiness because in the first place hapiness is not for sale. Happiness is something which one makes or attains something which he feels he has successfully attained and therefore there is a degree of joy and happiness in attaining that objective whether it is money or otherwise. The following factors do contribute to the concept that having money may not buy much happiness to an individual:
    1. MONEY OR THE ACQUISITION OF IT REQUIRES LOT OF KNOWLEDGE AND POSSIBLY EFFORTS TO GET IT.  The millionaires have a very strong commitment in attaining their dream in acquiring lots of money and they are willing to take all the consequences in getting it. What it means is that people will do everything to acquire lots and lots of money to the extent that they have disregarded all other aspects of their lives - sex, family relationships, vacations, friendships and worst of all their happiness. The ardent desire to acquire money has exerted 90% of the activities of their lives that they have already forgotten to give time to God or even watch movies and appreciate the beauty of the flowers which are simple events and happiness unfolding in their lives.
    2. ONCE MONEY IS ACQUIRED THERE IS NO LEVEL OF CONTENTMENT IN ACQUIRING FOR MORE WHICH IS CONTRARY TO THE LEVEL OF SATISFACTION IN ACQUIRING FOR ECONOMIC GOODS.  The other aspect that a layman must realize is that the acquisition of money and the level of satisfaction could never be attained. If a person has thousand dollars, he desires for millions, if he has millions of dollars he desires for billions and when he has billions of dollars he wants for trillions en so forth and so on.  Why is this so? Because money in the actual sense has an intangible value people has assigned to it. It is the reverse in acquiring goods, the level of satisfaction has a limit. I have one mansion house I might desire to have two or even three but having more than five mansion houses would lose my interest in having them so because it is hard to manage in the first place. Unless maybe one has lots of employees or caretakers to take care of those mansion houses. I may desire to have a dozen of clothings but definitely my desire ceases when I have millions of wardroves which I might not be able to use them which is the reverse in the level of satisfaction in having and desiring for money because the level of satisfaction in acquiring for money never ceases.
    3. THE VULNERABILITY TO COMMIT WRONG CHOICE WHEN ONE HAS THE MONEY RESULTS TO THE ACQUISITION OF GOODS BUT NOT HAPPINESS. We hear rich millionaires or even billionaires indulging in things which they were not supposed to do. Howard Hughes the eccentric billionaire in the end surrendered his life because of overdose of illegal drugs. Rich people buys cars, mansion houses, islands, airplanes and even having two or more spouses because they can afford it but instead it brought havoc in their lives. What a wrong choice because their money could afford a mansion house on top of a hill, well it fulfilled their dreams but having no neighbors as they they used to have and isolated it made their lives more miserable.
    4. MONEY ILLICITS ARTFIFICIAL FORM OF RELATIONSHIPS WITH OTHER PEOPLE HENCE ONE LIVES IN A SUGAR COATED LIFE.
    When someone has plenty of money he becomes vulnerable to an artificial kind of relationship. If you won for example in the lottery by millions of dollars specially if it was advertized in the radio or newspapers you will hear friends even distant relatives you have not seen for a lifetime become closer to you and borrow some amounts because they know they can get something. How often do we hear stories that once one wins in the sweepstakes they become victims of robberies and hostaging? You will also hear that most millionares spend very few hours with their families because they have so many activities that they have already abandoned their love ones.
    5. THE CONCEPT OF DELAYED GRATIFICATION BY WAY OF SAVING FOR THE FUTURE IS THE SUREST WAY TO BECOME RICH BUT THE EXCITEMENTS OF PAST YEARS’ COULD NO LONGER BE REGAINED. Life is fleeting and although it is indeed wise to delay our gratification by saving at least 20% of the earnings that we have and invest it for the future but the joys of the moment could no longer be regained. If you sacrificed at the age of 40 by not going for a vacation in Europe and wait until the age of 65 it will be a different scenario. You may not even reach the age of 65 and so you missed that lifetime opportunity to see beautiful places while still young. Although I believe that this contention in acquiring money is only applicable whether it can buy or not buy happiness for oneself.   
    6. THE AGED OLD BELIEF SPECIALLY AMONG CHRISTIANS THAT MONEY IS THE ROOT OF ALL EVIL AND OTHER WRONG CONCEPTIONS ABOUT MONEY PROVIDES A LOW KEY LEVEL OF HAPPINESS TO THOSE WHO HAVE THE MONEY. You can now hear other economist saying that instead it is the lack of money that is the root of all evil because the Bible would also define that money answers everything. Wrong conceptions about money may sometimes produce low key level of happiness to an individual. Sayings like money is dirty, if you want to have much money pray to the devil etc.

      In the end let me reiterate one person who said: “I have been rich and I have have been poor but this I can tell you that it is lot better to be rich than poor”. God would also want us to be rich and abundant because he himself is abundant, he created the universe, the stars, the solar systems and most specially the earth and therefore it is a sin to be poor because God wants us the other way around.

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    By harald hardrada, July 3, 2006 at 7:58 pm #
    (Unregistered commenter)

    funny how the establishment’s forever shoveling out bullshit saying the submerged tenth ought to be glad thay can’t rub two nickels together—our news media are stooges

    Report this

    By R. A. Earl, July 3, 2006 at 12:09 pm #
    (Unregistered commenter)

    The problem is that most people do not or cannot know this truth until they HAVE MONEY to compare the situation in the two conditions. After achieving safety, health and shelter, conquering hunger, and having sex, happiness depends almost entirely on ATTITUDE.

    And, from what I’ve observed, it’s touch-and-go whether MONEY has any positive influence on attitude.

    I have this love-hate thing going about money.

    I LIVE for the day when I win the lottery. I QUAKE at the thought of what I will become when I do!

    Till then, I’ll just live by another truism… cross that bridge when (and if) I come to it!

    Report this

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