SalesHQ

I that there is indeed a relationship between money and happiness....but it plateus at a certain point. People that are poor and struggling will definately become happier with more money. Once basic needs are met and the stress of paying bills for the essentials are met...the relationship between money and happiness evaporates!

I firmly believe this. Some of my wealthiest friends are investment bankers and lawyers....they are also the least satisfied with their lives. I think that being true to yourself...pursuing work you love, and making sure you have healthy relationships are the keys to happiness.

I love this research! I found this just now in the Psychology Monitor

In certain circumstances, money can buy happiness

Money can help people who are secure with their financial situation exert power over their future during chance events, according to a new study in the April Journal of Personality and Social Psychology (Vol. 90, No. 4). In turn, that feeling of control helps them feel happy and secure, the study suggests.

"Say you're in a car accident and you're fine but your car is wrecked," says lead researcher Wendy Johnson, PhD, a University of Minnesota, Twin Cities, psychology research fellow. "If you're in tight financial circumstances, that could pose a big problem—a lot of your financial wherewithal is tied into car maintenance and as a result the situation will cut into your life satisfaction. But if you're rich, you can simply buy a new car or get it repaired. It doesn't matter to the same degree at all."

In the study, Johnson and her colleagues asked 719 same-sex twin pairs ranging from 25 to 74 years old to provide information about their annual income in several categories, including personal and spousal earnings, as well as information about their marital status, number of children living at home and the amount of money they disburse to children and other relatives.

The researchers also surveyed participants on their attitudes about their finances, such as whether they felt they had less or more money than they needed, and their perceptions of control with questions such as, "How would you rate the amount of control you have over your health these days?"

The researchers found that people's actual wealth is independent of how they feel about their financial situation—even among twins. This implies that those who perceive that they have an adequate amount of money are more likely to have satisfied their material desires and to set aside some savings, making them more likely to feel as though they exert control over their life. As a result, when such negative life events as a car accident occur, they are less likely to feel a substantial blow to their life satisfaction due to happenstance's costs than people who are looking to spend that money on a new stereo, clothes or other material item.

"Money buffers people from the bad effects of unfortunate occurrences," Johnson says.

"The researchers found that people’s actual wealth is independent of how they feel about their financial situation—even among twins."

Very interesting...makes sense considering some of the wealthiest individuals never feel satisfied with their financial situation. 100K/year simply isn't enough when they see someone else making 150K, etc. The carrot on the stick. It will never ever buy happiness...

Yes!

Yes, try living without it, or in the constant fear of not having enough.

Deterring unhappiness is not happiness.  Maybe if money can buy counseling and a healthy vacation it can buy happiness!

DanDraper says ...

I recently read this article on the "Easterlin Paradox" http://www.saleshq.com/news/521-maybe-money-does-buy-happiness-after-all which points out that as a whole nations do not seem to become happier as their GDP rises over time, but that at any point in time within a nation, the richer seem to be happier than the poorer. It's better to be rich than poor indeed, but I'm wondering what people think. Does money buy true happiness?

No, but it sure helps to have it. There are seldom worse feelings than being a father (or mother) who is unable to feed, shelter or clothe his wife and children. It also helps to have a car that doesn't break down on you every other day and being able to come home to running water and electricity.

It feels great to see the smile on your loved ones face when she opens a box of pearls or when your child gives you a million hugs and kisses because you were able to get him/her that special gift they always wanted. Having money isn't entirely a bad thing...

Yes it does. Not only does it buy happiness  but it buys safety, it buys a peace of mind, it buys things you can't buy when your broke. Only people that are ingrates take it for granted and believe money is tied into their misery. Money is the second most Important thing in life.   Do you know what the other one is????????????you health.

 

Sellerina says ...

I that there is indeed a relationship between money and happiness....but it plateus at a certain point. People that are poor and struggling will definately become happier with more money. Once basic needs are met and the stress of paying bills for the essentials are met...the relationship between money and happiness evaporates! I firmly believe this. Some of my wealthiest friends are investment bankers and lawyers....they are also the least satisfied with their lives. I think that being true to yourself...pursuing work you love, and making sure you have healthy relationships are the keys to happiness.

I completely agree with Sellerina! Well said.

Money helps, but it cannot buy TRUE happiness in my opinion.

If I had more money, I'd be able to pay off those loans/credit cards quicker, but in the end, it wouldn't make me truly happy.  Good friends, family, and experiences make me really happy.