Money & Happiness

I recently saw a sign that said, “Money can’t buy you happiness, but it can buy you a lake house and that’s kinda the same thing.” Amusing at first, and while I don’t believe that money is the source of happiness, upon examination this cheeky little sign just might have a wee bit of truth to it. Putting our righteousness aside (that we would never stoop to such materialistic levels), I think it might be fair to explore the fact that we often do use money to buy us what we want - which kinnnda makes us happy, doesn’t it? Do we “need” a lake house to be happy? Certainly not. However, might you have a slightly easier time feeling happy if you were to wake up with a view of the water and walk down to the private beach sipping your coffee in the morning? It certainly sounds slightly more relaxing and happiness generating than waking up to the view of a concrete wall, hustling around and then drinking coffee on your commute through the busy traffic jams of the city. I know which situation would make me feel happier, how about you? We are of course being rather superficial here, it is definitely possible to be happy without the lake house and equally possible to be miserable in one. But comparing these two situations begs us to dive a bit further into the debate of money and happiness, and how it is perhaps ok to allow ourselves the permission to use money as a way to support our endeavour of living in happiness.

First and foremost, investing in experiences and in yourself are far more likely to trigger lasting happiness than “stuff” will. Saving up and splurging on a trip of a lifetime or even a smaller experience is likely to leave you not only with memories but perhaps challenge your beliefs, your physical abilities, or push your boundaries which all allow for opportunities of personal growth.  Experiences can potentially be a catalyst to spark new or deeper relationships with others as well. All of this may in turn generate some happiness building blocks for you. Buying the latest and greatest tech item or piece of furniture - probably not quite so much. Donating to something meaningful to you can also trigger some positive endorphins, which leaves us feeling pretty good about ourselves.  

When exploring if money could play some role in our happiness, it is important to consider not only what we are spending our money on, but also what it is “costing” us to earn it. Pursing more money without regard to more happiness can be a costly scenario as sacrificing your happiness is rarely worth it in the end. If you are overworked, stressed to the max, and unhappy (and also likely unhealthy) perhaps a little less money in exchange for less stress and more time could be what “buys” some happiness. If you are in a scenario of no disposable income and feeling unhappy, perhaps evaluating spending habits could be helpful. Considering your location may also be worthwhile. Though spooky and daunting, making a move may open up more opportunity for happiness when the money you do have goes further. The cost of living (and the “way” of living) varies greatly around the world, and for some people, moving somewhere less costly may allow them the flexibility of both money and time to live the way they desire - which in turn is likely to make room for more happiness. 

Being healthy can cost a lot these days, but remember the only thing more expensive than being healthy, is being sick. You can’t buy happiness outright and you can’t buy health either, there’s just no magic dispenser for these things. That being said, you may be able to put your money to use in a way that helps you. What are some things that might help support you in living with a happy mindset? If you are struggling with something that is making happiness difficult like a physical or mental ailment, it may be worth investing in services or professionals that can help you through it. If it is time that is the problem, maybe see if there are any tasks that you can hire someone else to do for you so that you are able to have the time to do the things that bring you joy with the people you love. Be smart about analyzing which things are actually helpful for you - and which things just claim to be. 

Another thing worth considering before investing in health or happiness is to ask yourself “Am I  investing in this in an effort to buy the past or to better the future?” I will be the first to admit that sometimes that line can be blurry as often what we want for the future is to feel like we did at some point in the past. But you’re different now and perhaps your body is a bit different now too. No matter how hard we try, it is not possible to buy the past or push rewind. Just watch one set of commercials and you’ll see that the amount one could spend on “anti-aging and reverse aging” products is astronomical. If we wanted to invest in our skin it might make more sense to spend money on sunscreen than a serum to reduce a wrinkle from sun damage we’ve already done :) That’s perhaps a silly example, but hopefully you get the idea. You may have such difficulty walking that you can’t go the places you enjoy anymore. Rather than spending thousands on treatments that you haven’t really seen benefits from, maybe spend the first few dollars on an assistive device that will allow you that ability to get out and enjoy what you still can…You never know, by investing in ways to get you back to those locations that make you feel happy, you might just find your body starts feeling better because you’re out there.    

So while we could argue that money can perhaps be a tool to help with our happiness, also remember it can create a lot more problems and relationship strifes if we place too much of our attention on it. Keep the underlying focus on your happiness not the “things” and ensure that you don’t get sucked into a vortex of relying on money to make you happy. It may come and go throughout your life and it in itself is not what is actually responsible for your mindset. When you have it, invest in yourself and your happiness. When you don’t, still keep the focus on your happiness. As a little bonus, you’ll probably find you have an easier time making money when you’re happy anyways so may as well start there.