Whenever this question comes up, I always hear the same answer. Some say yes and some say no! Before we can discuss that answer, we need a definition for happiness. Happiness is defined as a state of well-being characterized by emotions ranging from contentment to intense joy. Winning the Lotto could make me very happy! For those of us who do not have money, we believe money would make you happy or happier. In those cases, that is partially true. Lack of money for the essentials will make you very unhappy. Once you have enough money to pay for food, shelter and clothes, in other words your essentials, additional money will not make you happier.
People’s emotional well-being – happiness – increases along with their income up to about $75,000, researchers report in the Proceedings of the National Academy of Sciences. As your income increases, your happiness or feeling of well being increases up to a point. The belief that money by itself will make you happy is absolutely false. Don’t get me wrong money will buy things that can make you happy. If things make you happy, that works. If I asked most people what are some of their happiest moments, it usually are not things. It is in most cases memories of special moments that money had nothing to do with it. The doubters will say money can buy me a trip, a nicer car or a bigger house. Unless you are paying cash, you will have a credit card balance, a car loan or a bigger mortgage that will weigh on you. That cannot make you happier. Rich people have more problems not less. More money requires more responsibilities. Don’t get wrong, I am not suggesting earning less. I am saying along with money comes more decisions, pressure and stress. Given a choice, I would rather have more money than not. I prepared myself for this a long time ago. You can prepare yourself by continuing to read my articles and subscribe.
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