You know the saying, money can’t buy you happiness. But is this really true? Money can certainly help with purchasing the necessities in life as well as the nice to have’s. Not having enough money means just getting by in life, living pay cheque to pay cheque and possibly struggling with a large amount of debt. Is a person making over $75,000 per year experiencing more joy in life than a person making under $35,000 per year? It would depend upon the lifestyle of the individual. For example, a person making over $75,000 per year may be too busy in his or her profession to enjoy any profits, while another earning much less could be happy emotionally and content to live within their means.
Parents have always encouraged their children from a young age to get a good education in order to acquire a good job and earn a good income. They don’t want their children to just survive in life, they want them to prosper. Setting high goals is healthy for a child’s growth and success. Certainly earning a high income will afford the finer things in life and help affirm a person’s self worth professionally. Happiness can be found in achieving a higher status on the employment totem pole. However, I believe true happiness does not come from how much money we make, it can be found in how we spend our money.
Behavioural scientists, Elizabeth Dunn and Michael Norton, have researched happiness in money and found that a person can get more of out of their money by following principals like spending on individuals than just themselves. People derive more satisfaction by investing in others, whether it is buying a friend lunch or helping them out with a debt. It can also include helping a child in a distant country receive clean water and a better education.
This principle also applies to companies. Dunn and Norton have found through research that companies who make more charitable donations have happier employees and more satisfying products. Investing in smaller companies trying to get ahead, in research clinics looking for cures to illness, or to charities helping needy countries are some of the ways companies are giving back and earning credit with their employees and shareholders. Being an industry leader is no longer just about making profits, it now includes how the profits are shared.
Regardless of the size of a bank account, investing in others make individuals feel healthier and happier. Even if you give a few dollars to a person in need, don’t you find it gives you that extra spring in your step? The act of “paying it forward” is becoming a mainstream trend for people and companies alike. The desire to help a person in need is a fundamental part of being human. Giving to charities, friends, family, or to any worthy cause can be a means of improving the well-being of a person’s life.
So here is your question to ponder on for the day. How is your money making you happy?.
Recent Comments