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Wealth can create happiness essay
Wealth can create happiness essay
What is the role of wealth in the creation of happiness? Can money make you happy? essay
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Personality based on Attained Income "Money can't buy you happiness." An all too common phrase that is usually told from someone who is trying to teach a younger person that money isn't everything and no matter how much money you have, you will never truly be happy. Money can't buy happiness directly but it sure makes the journey to finding happiness a lot more comfortable, therefore making a person a lot more easygoing and not troubled by so much stress. Life satisfaction is an ever-changing complexity because of what it means to be satisfied. According to a research study conducted by Gallup Organization, there are two aspects of subjective well-being. Being satisfied with ones life is the emotional quality of an individual’s everyday experience Consequently, this implies that Money can buy some sort of happiness. People will think about their own personal lives and subconsciously think that they aren't or are satisfied and getting things out of life that are fulfilling based on money. Money can buy solace; it can pay off debts causing someone to be less stressed. Money can also buy things that make life easier, such as a simple dishwasher, a machine that can do the dishes for someone, saving more time for a person to do what they want. In an article published by the Economics Department of Minnesota University and Warwick University, they analyzed the correlation of income and life satisfaction by first analyzing how the traits interact with certain relationships. They said that Neuroticisms affect life satisfaction because it modulates the relationship between income and life satisfaction. This effect is largely mediated by personality traits (DIW article). The article continues to explain that their income doesn't directly effect life satisfaction, a persons subjective satisfaction derives from neuroticism. Neuroticism is linked to an overwhelming sensitivity to negativity, resulting in having high rates of emotions like anger, depression and anxiety (DIW article, pg. 3). The article continues to explain that people who have higher
Even though hedonic satisfaction is necessary for living a happy life, focusing only on hedonic pleasure will have the opposite effect. If you focus on money and the things it can buy as the source for your well-being, you are excluding a series of factors that are necessary to achieve a true state of well-being. The following passage from the article “On Happiness and Human Potentials: A Review of Research on Hedonic and Eudaimonic Well-Being” clearly details that:
What a person does to make a living often defines who that person is. Because so much time and energy is invested into work, work is often seen as an extension of oneself. One of the first questions that someone asks after meeting you for the first time is about what you do for a living. The belief is that by knowing what you do, one should be able to tell something about who you are. People almost never ask the more telling question of whether or not you are happy. They rely on the nature of the occupation to tell them something about your happiness. If you are a doctor, lawyer, or celebrity, it is assumed you are happy because of the money associated with those occupations. For some, income is a determinate of happiness. Granted, money is a major determinant, but not the only determinant of happiness. Happiness on the job is better determined by the support to values that a job provides.
Neuroticism boldly contrasts with the other personality traits in the Five Factor Model for personality (Openness, Agreeableness, Extraversion, Contentiousness, and Neuroticism). An individual being high in any of the other four traits could hardly be considered pathological. For example, high levels of agreeableness, within reason, would probably be considered to be a positive and healthy characteristic. However, the discussion regarding neuroticism certainly takes a darker turn. Gunthert, Cohen, and Armeli (1999) in their study, operationally define neuroticism as a predisposition to experience negative affect (negative emotional systems). Lahey (2009) defines it slightly differently, as the tendency to “respond with negative emotions to threat, frustration, or loss.” More generally, the personality trait is characterized by anxiety, angry hostility, depression, self-consciousness, impulsiveness, and vulnerability (Cervone & Pervin, 2010). Neuroticism has critical implications outside of personality psychology. Some researchers suggest that neuroticism is significantly correlated with both physical and mental health issues more so than any other personality trait variable. This increased risk is not just for a particular group of pathologies; neuroticism has been linked to Axis I and II disorders in the Diagnostic and Statistical Manual of Mental Disorders (DSM-IV) across the board (Lahey, 2009). In some occupational performance studies, negative affect was negatively related to job performance (Kaplan, Bradley, Luchman, & Haynes, 2009). This may be extrapolated to individuals high in neuroticism, as it the trait is the predisposition for the experience of negative affect. Research on daily stress and coping showed th...
One reason described to be a cause of happiness is income. Don Peck and Ross Douthat indicate how, “National income appears to be one of the best single predictors of overall well-being, explaining perhaps 40 percent of the difference in contentment among nations” (352). With this statement, comes the explanation of how income can influence happiness in adults who strive to earn a living. Research illustrates how, “For individual countries, with few exceptions, self-reported happiness has increased as incomes have risen” (Douthat 352). While these two statements provide sufficient evidence for the reason of income bringing happiness, income itself is not relevant.
He further shows us that the people of today are richer than their grandparents but are not happier in their lives (from National Statistics of social pathology). Even with these facts, people in the United States still believe if they had more money all of their problems would be solved, but once they reach that next income bracket they are not satisfied and try to reach the next one. Myers et al tells us, "even if being rich and famous is rewarding, no one ever claimed material success alone makes us happy. Other conditions like - family- friends- free time - have been shown to increase happiness" (Csikszentmihaly 145). therefore we must find balance in our own lives, and not just focus on making money. Instead we need friends, family and even free time, as aforementioned doing an activity you enjoy such as listening to music or
Subjective well-being is apparently a product of psychological reactions to external stimulants, and those reactions are a product of learning social paradigms through cultural influences. As such, it is not possible to strictly relate it to any given external circumstance, person, or object for all communities and individuals. In terms of money-making motivations, they are all equally related to subjective-wellbeing. Fulfilling financial goals leads to the achievement of desires, so it increases well-being while incomplete goals will lower subjective well-being. It is possible to argue that subjective well-being which arises from making money is only a temporary sensation that will eventually fade, so income levels are unstable and unreliable determinants of well-being.
For some, happiness is all that matters. Happiness is achieved in many ways, and it doesn’t always involve money. There are many things that contribute to making a person feel happy and successful. One can feel successful without a lot of money at all. For example, feeling loved is something that makes everyone happy. Many believe that without love life is not thoroughly complete, thus never truly achieving success. Ones line of work can also affect how happy he is. Some feel that it is more important to enjoy work and get less money than it is to hate work and get paid more. Another factor in achieving psychological success is ones ability to enjoy what life gives him. There are many qualities of life that are overlooked. Everyone is dealt family and it is important to value that.
It is easier for wealthy people to pay for their needs, such as health care and dental care. If any abrupt situation approaches dealing with their health, a wealthy person will be financially stable to pay and fix it. According to an article, "Happiness Around The World: Is There More To It Than Money?" by Bozionelos, Nikos, and Ioannis Nikolaou, “One would expect that money is more important when it helps meet basic needs, and this should be especially true in poorer nations. However, as already seen, the relationship between income and general life satisfaction was mainly explained by whether material aspirations (such as buying luxury goods) could be fulfilled.” In other words, one’s concept of happiness can vary from nation to nation. For example, people living in poor nations and having a low income tend to be satisfied by having just enough to meet their necessities. While, on the other hand, people with higher income tend to be satisfied if they have enough to buy luxury goods. Being wealthy does not lead one to happiness; it can help some people to obtain happiness, but it can also lead others to have unwanted experiences. Having a minimum amount of money is necessary to be happy. Having the minimum amount of money to pay bills, have medical assistance, buy groceries, and clothing is considered as the basics needed for one to be happy. Money is a tool that can help a person obtain objects that can help him or her to have a comfortable life. However, money should not become the reason why a person is happy. Happiness comes within a person as a human being and money will never replace a friend, nor a loved
But “[when one’s] basic necessities are met, research has shown that additional money does not have a lot to do with happiness.” Owning large quantities of money doesn’t necessarily mean that you’ll be happy. Money is not the only thing that can make one content. Having other hobbies and challenges makes one equally happy. Some may be satisfied with money, but it will be spent on materialistic things that is not useful for the overall long term benefit of one in the future. One should be focused on more important factors that makes them happy, including relationships, pleasurable activities, and kindness to others. Kindness can be shown by spending money on others, to assist their life and enjoyment. According to the Zurich university, there was a study who surveyed a group of fifty people testing one’s level of happiness based on the action they perform. Twenty-five people were asked to share their earnings with others and be generous and the other group of twenty-five people spent all of their money by themselves without sharing. Levels of happiness was measured on a subjective scale and people who were generous boosted their
Money and Happiness are two things that we have all given a lot thought. We put lots of effort into these two things either trying to earn them or trying to increase them. The connection we make between money and happiness is strange because they are two very different concepts. Money is tangible, you can quantify it, and know exactly how much of it you have at any given time. Happiness, on the other hand, is subjective, elusive, has different meanings for different people and despite the efforts of behavioral scientist and psychologist alike, there is no definitive way to measure happiness. In other word, counting happiness is much more difficult than counting dollar bills. How can we possibly make this connection? Well, money, specifically in large quantity, allows for the freedom to do and have anything you want. And in simplest term, happiness can be thought of as life satisfaction and enjoyment. So wouldn’t it make sense that the ability to do everything you desire, result in greater satisfaction with your life.
It is highly debated, but ultimately incorrect. The closest correlation found on this topic was in a study conducted by Stanford, an Ivy League business school. With their findings, we can concur that the only way money can make someone truly happy, is by spending it in constructive ways to help others. With that, it is safe to say that if someone finds themselves unsatisfied with their live and wealth, that they could use it for the greater good. They should put it into charities, or as simple as buying a friend a meal. Whatever it may be, use the money for others. And that is really how money can buy
..., a person who earns $25,000 is happier than a person who makes $125,000 and an employee who makes $500,000 is only slightly happier than someone who makes $55,000. Lastly, there are more important things in life that and make you happy, for example, friends. They don’t come with a price tag, and if they do, you definitely need new friends. Money won’t make you happy since good times can’t be bought. You don’t need a fancy vacation to have a good time; it’s just a matter of who you spend it with. Over the years, humans have blown the value of money way out of proportion. People make it seem like if you’re not filthy rich, then you won’t live a good life but it’s not true. You can lack money and yet still live a perfect, happy life.
When none of us has ever come across such words and formulas, none of the great personalities has ever mentioned it, then who the hell has instilled it in our minds that money brings happiness. But among this debate one question still raises its head - What is happiness? Happiness is not actually leading a luxurious life but the luxury of living a life. Happiness is not actually about expanding your business, but it lies in expanding the horizons of life. Happiness is not having a meal in the most famous restaurant but to have it with your most beloved family. It does not lie in attending honorable parties but to attend a party with honor.
It’s relative income that’s important. As I’ve noted previously, money is relative. It turns out we don’t mind so much about our actual level of income, so long as we’re earning more than the other people around us. Unfortunately, as we earn more money we’re likely to be surrounded by richer people, so we often end up failing to take advantage of the positive comparison. Material goods don’t make us happy.
I never really thought the expression, “money can’t buy happiness”, was true. As an infant, just by observing the people around me, I observed when they would obtain money and a huge grin would spread across their face, the corners of their smile spreading from ear to ear. Whenever I would see that grin and a person’s face light up at the sight of a crisp, green bill it would make me believe that I had proved the famous expression wrong. Now that I’ve grown up and matured, my idea of that expression has changed. As of now, I am able to reflect on life more and look deeper into things and particularly into people more than I was able to do years ago. My ideas about this expression changed the most though because of the money situation my family had stumbled upon because of the failing economy. I remember being younger when the economy was doing well and waking up to twenty gifts for each of my three sisters and I. We used to believe that all of those presents, brought in because of money of course, were the best part of waking up on Christmas. Of course all of those toys and material items would make a child happy; however looking back it would only make them happy if it was given to them by somebody who bought it for them with love.