Blog Post #1: Does money truly buy happiness?
This is a question that has been widely debated, but never really has a definitive answer. When we were kids, our parents would tell us “money can’t buy happiness” because they wanted us to understand that relationships, purpose, and being a good person were the true sources of happiness. But as we got older and started gaining more independence, money bought things that we wanted and thus granted us happiness. Shopping for a new shirt that you’ve wanted for months would bring you happiness, right? But this simple question is actually much more complicated than we think it is.
A lot of times, happiness can mean not feeling stressed and feeling a sense of security, which is something that money can provide. An article from Harvard Business School titled “More Proof That Money Can Buy Happiness (or a Life with Less Stress)” presented a study where 522 participants tracked their emotions in a diary for 30 days. They found that money reduces intense stress and brings control over negative events. In fact, in the study, people with higher incomes reported more satisfaction with their lives.
However, another way we can look at this question is “Does money buy lasting happiness?” Buying temporary elastic goods like a new car or new clothes could grant us instant gratification, but not enduring satisfaction. Making an impulse purchase may also impact our future emotional well-being if we end up regretting spending that money. According to the American Psychology Association, what we usually see on TV about wealthy people being very happy and satisfied with their life is not actually proven in real life. People with lots of money still struggle with fears of isolation, uncertainty over relationships, and anxiety about their children.
In conclusion, the question “Does money truly buy happiness?” is still unanswered. Many different perspectives and studies pose different conclusions all over the Internet. However, my personal take is that this question cannot be answered, and that there cannot be such a black-and-white answer. Yes, being financially stable provides a sense of stability. But being financially stable does not necessarily mean you are happy internally. So, maybe the true answer to this question is that there is no answer. Money can and can’t buy happiness at the same time.
