Money cannot fill the new house with a lovely family, concert with no friends aside is not so enjoyable and traveling alone will not bring you happy memories.
Different studies confirm that people who make $50,000 a year, consider themselves as much happier than those who make $10,000 a year.
The fact that money cannot buy you happiness is considered as the generally accepted wisdom over the world, however, it is not possible either to simply agree or disagree with this statement without defining what is happiness and understanding the connection between these two concepts.
On the one hand, according to Merriam-Webster’s dictionary, happiness is simply “the state of being happy or an experience that makes you happy”. The provided definition is short and clear, however, happiness is a very difficult concept to define as it depends on a personal perspective of happiness for each individual person.
Of course, good income level gives you freedom and having enough money means providing yourself a comfortable life.
Stable income increases the quality of life, the quality of every day you experience.Or purchasing is just a way of showing one’s vanity?It can also keep up with the Jones sort of speak when people are trying to fake their lives in order to make a good impression on someone.On the other hand, money is “something (such as coins or bills) used as a way to pay for goods and services and to pay people for their work.” (Merriam-webster.com, 2016), it is a basic need for our everyday purchases.For sure, financial wealth makes our life easier and provides wider opportunities for the person who has enough money.Economists, for example, have found the way to measure the individual happiness using the concept of “utility” that measures satisfaction or happiness from purchasing each particular good or service. However, the meaning of “utility” is determined by the tradition in Economics, while the technical meaning of “happiness” is determined more by the tradition in Hedonic Psychology. In case most of the needs of the second sector are met, it is the time for the person to reach the goals of self-fulfillment like fulfilling your unique potential including creative activities. According to Maslow’s theory, money does buy happiness in case if you are living in the poverty and your main goal is to satisfy your ground needs, however, money cannot guarantee for 100% achievement the highest levels of true happiness (Maslow et al., 1998). If the ground needs are met, then a person becomes interested in the actualization of psychological needs such as intimate relationships, feelings of belonging, respect of others, friendship and a sense of accomplishment and competence. Let’s agree that it is not possible to simply buy all these things.