Does Money Buy Happiness? In Fact, it Can and Will!

We’ve all heard it before. The old adage sung by Jessie J and Freddie Mercury: “money can’t buy happiness.” Most people would probably say that’s true, that the most valuable things in life – love, real friendship, fulfillment – can’t be achieved through material means. Many use this phrase to make themselves feel better, so they can sleep soundly at night thinking that rich people are all lonely, sad, and desperate for the happiness their money can’t buy.

But does money buy happiness? What if I told you it can – and often will?

A lot of you are probably scoffing right now, thinking that’s a terrible thing to say because we’ve been taught materialism is bad and the pursuit of material goods or wealth makes you greedy or evil. This “wealth shaming” can make some people hesitant to make smart money decisions through saving or learning to invest that could bring them financial security and catapult them into the retirement big leagues.

But news flash, ladies: being rich doesn’t mean you’re evil. It might just mean that you’re smart, successful, and know how to handle your money. You probably worked really hard for that million-dollar retirement account or that great new promotion that comes with a jaw-dropping paycheck. You should be proud of the accomplishments and money mindset that got you to a place where you can save and spend money comfortably, without fear that your money well will suddenly run dry. You don’t need to feel guilty about being wealthier than a friend or sibling, or constantly try to divert your wealth so that you don’t end up unhappy like all rich people must be.

Instead, you should embrace your income and your lifestyle and find relief in the fact that you are at a place in your life when you actually can – and should – buy happiness. Now, I’m not saying you should go on a crazy shopping spree and fill your closet with red-bottoms and Louis Vuitton bags. I’m saying you should celebrate the ways you can improve your general happiness and satisfaction through spending your money.

Here are a few ways that money actually does buy happiness: 

1. Providing for yourself and your family

I think it’s safe to say that everyone hates paying bills. Looking at the extra data expenses on your phone bill and watching the electricity bill creep higher and higher as winter comes brings nothing but a wave of anxiety to most homemakers and breadwinners. It’s frustrating to feel like you’re drowning in debt or expenses and can never get ahead of the curve. Most people spend a lot of their lives working just to get by, to pay that upcoming phone bill, and ensure they have enough cash for the next grocery run. 

Click here to pin this:

One of the best feelings in the world is not having to worry about finances anymore. When you have enough money to comfortably support yourself, your family, and your lifestyle, it feels good. Like “let’s pop some champagne and have a dance party” good. No, you might not be buying three Lamborghinis or jetting off to Paris every other weekend like some wealthy people are, but you’ve achieved a level of happiness that comes with comfort and financial security, something you can only buy with some moolah.

2. Spending more time on the things you actually like.

There are a lot of things we all wish we had more time for: our friends, our families, our furry companions, our hobbies, our dreams. In an ideal world, we’d be able to do it all: cook an incredible meal for our family every night, go on a weekend trip with the ladies, take our pet to the groomer. But the reality is that no matter how much we bend over backward, there’s not enough time in the day for everything. Working to provide for yourself and your family has to come first. So, you have to pick and choose what you spend that precious extra time on. Most people choose to bench the less important things, like hobbies, fancy meals, and exercise, in favor of work, housekeeping, and spending time with family. It’s not ideal, but it’s just how it goes when you are dependent on that next paycheck to keep everything afloat.

When you’re wealthy and have financial security, you don’t have to keep stretching yourself thin to get everything done. You can outsource your business tasks, get a cleaner to take care of the tidying up, or a chef to make sure there are healthy meals ready when it hits 6 o’clock. There’s no more need to skip out on that ladies' night or quality time with your partner. When you’ve got money, you can let go of that pressure to be everywhere at once and perform perfectly in every role. Instead, you have the freedom to spend your time on the people and things you actually like. You can actually take that yoga class to be more connected to your body, take your dog on a doggie play date with a friend, or let Bob Ross teach you how to paint some happy little trees. Anything you want! Even if your money can’t buy you literal happiness in a bottle, it can give you time to fill up your cup with things that bring you joy. And in turn, that will relieve some of the stress you’re always under which – in my experience – equals one happy woman. 

3. Making an impact

If you’re like me, you’d like to think that people are inherently good. That they have an innate desire to help other people and make a positive difference in the world. They’d love to solve world hunger, build houses for all those without shelter, get homeless people off the streets and back on their feet. But often, none of that is really within their means. Most of the people I’ve met would be saints if they were billionaires. They’d be giving away money left and right, donating to charity, and helping the less fortunate to thrive. But they’re not billionaires, and neither are the other ordinary people who want to make a positive impact.

Because the truth is that a certain amount of wealth is needed to truly make an impact. Yes, you can volunteer at a food bank or a homeless shelter to help those in your community, but to help a large number of people on a massive scale, you need some serious financial backing. And most people don’t have that. You’re probably too worried about putting food on your table and keeping a roof over your own head to really be able to help others in a significant way. Even if you spend beyond your means or go the extra mile to try and help someone in need, there will always be a limit to how much you can do with your finite savings. 

Wealthy people have more freedom. They can often pay all of their bills, provide for their families, and still have a significant amount left to give to others. Because of this, their reach is usually larger, and they can impact more people than an ordinary person with a smaller paycheck. I’m by no means saying that serving and helping others is only for the wealthy, just that the wealthy can often have a larger impact because their finances allow them to contribute more to the cause or person in need. For those who love to help and strive to give as much as they can back to those in need, wealth can be a ticket to that happy, fulfilling feeling that comes from serving others.

So obviously money isn’t going to solve every single problem. It won’t help you buy true love or real friendship, but that doesn’t mean it can’t help you to become a happier version of yourself. If you use your wealth for important things like easing financial anxiety, buying yourself some free time to spend with the people and hobbies you love, and donating or using your wealth to make an impact on the larger community, you can actually create some real happiness for yourself and those around you. So, instead of being ashamed to fight for a higher paycheck or learning to invest, embrace the ways you can start accumulating wealth and find out that money does buy happiness. 

Sources:

Who Says Money Can't Buy Happiness? New Study Disagrees - Penn-Live 

Science Says Money Does Buy Happiness if You Spend it the Right Way - Entrepreneur