Why Money Doesn’t Buy Happiness

Economists and psychologists—and the rest of us—have long wondered if more money would make us happier. Here's the answer.

By Sharon Begley | Newsweek Web Exclusive

Oct 15, 2007 | Updated: 8:41 p.m. ET Oct 14, 2007

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Posted By: thinktank @ 01/24/2008 5:59:32 AM

Comment: Although I can see the logic behind being the relationship between money and happiness, yet there is another theory that claims that happiness is independent of the environment and has more to do with the a person???s point of view and emotional training. There is a very interesting research conducted by International Institute of Management (IIM) titled Psychology of Happiness and Unhappiness - A case study of the mindset and behavior of happy and unhappy personalities.

This paper explores the mindset and thinking patterns of happy and unhappy people. It helps us identify some of the key characteristics of their thinking and the impact that their behavior has on their emotional well-being and their lives. The paper, also propose a simple, yet effective strategy to help people lead a happier life.

According to Med Yones, the president of the research, "By simply choosing to lead a happier lifestyle and continuously training your mind to think in positive patterns, you can improve your emotional well-being as well as the quality of your life immensely".

The complete text of the study can be found on:
http://www.lifehappiness.org/psychologyofhappiness/index.htm
Posted By: sadrain @ 12/29/2007 2:59:10 AM

Comment: who can give me 1million dollar? please reply me advice or tell me how can i find this money?
Posted By: Hanaerherre @ 11/20/2007 10:49:22 AM

Comment: I tend to agree with Frank Sinatra who once said, "I was poor and I was rich, I prefer being rich".
Posted By: Hanaerherre @ 11/20/2007 10:48:21 AM

Comment: I tend to agree with Frank Sinatra who said, "I was poor and I became rich, I prefer being rich".
Posted By: someone-evc @ 11/14/2007 11:55:42 PM

Comment: i have told that "money just bring you a good material life, not a spirit life
Posted By: Brandiee57 @ 11/12/2007 5:07:10 PM

Comment: Money can't buy you happiness, but it sure makes it easier to pay the bills.
Posted By: bkohl20005 @ 11/07/2007 4:23:58 PM

Comment: the LOVE of money is the root of all evil, but the joys of having wants is measured by the satisfaction in the process of obtaining those wants...folks it is the process of living that makes us happy or unfortunately also unhappy.....living is doing and not owning....with that said please come see me at ebay..my store (sells cool hats) on your-front-door an ebay store...thank you and god bless and soldiers come home safe
Posted By: claytons @ 10/30/2007 3:23:36 PM

Comment: happiness is more about giving than getting! clayton
Posted By: claytons @ 10/30/2007 3:22:34 PM

Comment: Happiness is more about giving than getting. clsmith
Posted By: oldgram @ 10/30/2007 1:22:41 PM

Comment: why can't I find research on middle class vs. lower class justice/injustice?
Posted By: seattlemac @ 10/25/2007 7:27:35 PM

Comment: It shouldn't be at all surprising that the other basic concept of economics applies equally well here: the law of diminishing returns. Each succeeding dollar buys a smaller amount of happiness. At some point, the value of the increased happiness gained by the acquisition of the next dollar is offset by other costs that are incurred to acquire that dollar (time, energy, etc.).
Posted By: jessix01 @ 10/25/2007 1:29:18 PM

Comment: More money = greater happiness up to the point where you have everything money can buy. Wealthy people have the luxury of observation. What is life? What is love? What is happiness? When one doesn't have to scramble to pay the bills for daily living one can sit back, "smell the roses", and watch what is happening in his or her own private circle of life..

People remain individuals with or without money. Some people enjoy having a life packed with activities that cost money.. Others can be happy living on a beach fishing for food and being otherwise self-sufficient. Those persons who are happier in the presence of others will find themselves happier if they have plenty of money. People who tend to be introverted or who enjoy their own company more than the company of others can be happier with less money than those who need other people around them all the time. The more people enter the equation, the more important money becomes.

Money = power = choices which become more important when more people are involved.

Each person has his or her own set of wants and needs to be satisfied. In a group, who wins? The one with the money (power) of course, because he or she has the ability to help the others get what they want via money. In an industrial society, it takes money.to pay for whatever it is a person needs or wants.

It is a myth that money doesn't buy happiness. This myth is told to people who don't have a chance of getting much money, in an attempt to keep them satisfied. If you live in a country where only the basic needs of life are provided to the masses, you are going to be told one of two things:
(1) Money doesn't buy happiness
(2) The poor go to heaven and it is in heaven where they will enjoy riches.

Look around you. See what people do to get money. If money doesn't matter do you think so many people would be doing so many bad things in order to get more of it?

"Money doesn't matter" is just another myth told to the masses to keep them quiet and to allow those who realize the importance of money and the power that comes with it to make more of it.

Additionally, the masses are further trained to believe that money is the root of all evil, that wealthy people are all dishonest, selfish, unhappy people. If a person manages to win the lottery or otherwise "strikes it rich", he or she is pressured and made to feel so guilty for having this good fortune that it takes little to no time for that person to squander the money that has been won. He or she is then used as an example to the rest to further the myths that "money doesnt matter", etc..

In a capitalist country, it is money and only money that makes the world go around. Everything and everyone has a price. If you can live comfortably within this structure, the more money you have, the happier you will be...

As for myself, SHOW ME THE MONEY! I know what t do with it!
Posted By: ILustLollipops @ 10/25/2007 11:27:47 AM

Comment: I believe in some ways, money does buy happiness. Temporary happiness. I know that buying a home and having a car makes me happy. Knowing I am financially able to go out and do the things I like to do makes me happy. Being able to take trips to see friends in different states and cities makes me a happy person. I also believe that if it were just me and my fiance and we had nothing at all, we'd be happy that we at least have each other, yet we'd still have alot of tension built up because the stress of living life with bills and not being able to afford to pay them or go out, can be really hard. I know when I was a young girl, growing up we were poor. We rented a home and we lived paycheck to paycheck. But I had a wonderful family, and we had so much fun and had family gatherings and it was wonderful. I did not realize we were so poor because I was so happy the way we were. I've never been one to follow trends, and I am perfectly content shopping at Walmart even though I bring in 100K a year. I think happiness is definately a mind-set, but money is important also. I wouldn't be happy if I were in debt, cold, and hungry.
Posted By: LaurenBecall @ 10/23/2007 6:47:21 PM

Comment: being happy is a choice and a state of Mind. when I was in highschool I was not aware that I was just middle class on the brink of lower middle class. I was just happy to have friends and walk to school. when I became older I realized how many rich people went to my school and I realized I did not know how much poorer I was then them. I was happier when i didn't know my best friend was mexican and I was poor no offense her family was really rich. but I did not know she was different then me. Man do I miss being that niave.
Posted By: LaurenBecall @ 10/23/2007 6:34:10 PM

Comment: we are deluded into thinking that money buys happiness. The reason I want money is so I can take a break from my life as Cinderella. I have worked and worked and worked. and I am wondering if there is an end to all of my housework. Money would buy me a ticket to a cruise where I wouldn't have to clean for just one moment.
Posted By: maijanni @ 10/22/2007 7:56:21 PM

Comment: THAT'S JUST STUPID! IF I HAD OODLES OF MONEY, I WOULD BE HELPING MORE PEOPLE AND FUNDING MORE CHARITY PROJECTS THAN I CAN NOW AND I WOULD BE DELIRIOUSLY HAPPY.
Posted By: Amethyst @ 10/22/2007 7:34:36 PM

Comment: money is good. money is bad
Posted By: lcipote @ 10/18/2007 8:00:56 PM

Comment: Enter Your Comment
Posted By: eonny @ 10/18/2007 2:35:28 PM

Comment: Money can't buy happiness, but it can rent it for a long while.
Posted By: eonny @ 10/18/2007 2:34:59 PM

Comment: Enter Your Comment
Posted By: eonny @ 10/18/2007 2:34:50 PM

Comment: Enter Your Comment
Posted By: francynancy @ 10/18/2007 3:47:20 AM

Comment: there were so many gems of wisdom from John Lennon and Yoko Ono when they challenged ideas of materialism and patriotism, that I had a vision of them in their white sheets, in a Toronto bed, being studied and filmed...I live by the ideas generated in that impressionable time of my life and have a rich and meaningful life at $80K . No BS!
- Posted By: LaurenBecall @ 10/23/2007 18:35:53
  
  Comment: can I come work with you??
  
  Frackells@aol.com
Posted By: JoanOfArc007 @ 10/18/2007 12:34:55 AM

Comment:
Posted By: JoanOfArc007 @ 10/18/2007 12:30:48 AM

Comment: Take heed, Republicans. As the Bush administration wiped out overtime pay, he wiped out a large portion of the middle class 'discretionary' income. He also crushed a number of small business owners (raising hands) who depended upon that discretionary income to make a living. Regan began the export of middle class jobs - Bush continued the trend on a massive scale. Middle class America is disappearing - and it aint' because they're getting richer. And they can't figure out why we're unhappy ...
Posted By: messenjah @ 10/17/2007 4:35:18 PM

Comment: Money affords you freedom. Freedom must make you happy. Freedom of worries. You can pretty much choose who you can love with money, you would think. Health is # 1 but financial freedom comes pretty close providing you're healthy and have a fulfilled life. No person can make you happy, you have to either be or not. Happiness is a state of mind, it comes and goes. Contentment is wonderful. Poverty must be unbearable. So I say money buys you freedom and freedom is what it is all about. You still have worries and money doesn't buy you love but it will enable you to have fun just the same. I say it must make you happier.
Posted By: messenjah @ 10/17/2007 4:27:29 PM

Comment: Enter Your Comment
Posted By: thebestnoelle @ 10/17/2007 3:59:25 PM

Comment: I use to say (when I was younger) just give me love. Now that I am older, and have been a single mother for quite a few years, I can honestly say that money DOES buy my happiness!! No money=misery.
Posted By: thebestnoelle @ 10/17/2007 3:59:12 PM

Comment: I use to say (when I was younger) just give me love. Now that I am older, and have been a single mother for quite a few years, I can honestly say that money DOES buy my happiness!! No money=misery.
Posted By: thebestnoelle @ 10/17/2007 3:56:40 PM

Comment: Enter Your Comment
Posted By: Almc07 @ 10/17/2007 3:33:59 PM

Comment: I agree with this article. Money does not buy happiness. The answer is making Jesus Christ the first and Family the second priorities in your life. That is what will bring you contentment and happiness no matter how much you earn...
Posted By: lesson1 @ 10/17/2007 3:22:00 PM

Comment: mo money mo problems
Posted By: lesson1 @ 10/17/2007 3:15:04 PM

Comment: I really appreciate and agree with this article. Money is only important because at present, it is used to establish the value of things that are (in many ways) neccessities of life. But what if you could get your neccessities in abudance without money? Would you still need it? If bananas were used, we would all be after them = going bananas. Contentment, a good budget and avoiding wastefulness, goes a long way.
Posted By: brucetheking @ 10/17/2007 3:01:52 PM

Comment: While money can not buy happiness; Debt can purchase unhappiness, helplessness and a sence of futility.
Posted By: lesson1 @ 10/17/2007 2:40:17 PM

Comment: Enter Your Comment
Posted By: forest mist @ 10/17/2007 2:01:06 PM

Comment: How does debt load calculate into this equation?
Posted By: forest mist @ 10/17/2007 1:58:38 PM

Comment: How does less or more debt enter into this equation?
Posted By: bikerbabe @ 10/17/2007 1:41:49 PM

Comment: Money eases the stress of wondering if you have enough for groceries and gas to get to work. Everything is going up but our pay checks. You dont pay certain bills so you can eat and have heat , and you get behind in bills so money will bring you less worries but you create your own happiness in what you like to do.
Posted By: bikerbabe @ 10/17/2007 1:39:43 PM

Comment: Enter Your Comment
Posted By: bikerbabe @ 10/17/2007 1:39:32 PM

Comment: Enter Your Comment
Posted By: CBAG @ 10/17/2007 1:38:25 PM

Comment: MONEY CAN BRING YOU LESS FINANCIAL WORRIES- THEREFORE BRINGING YOU AND YOURS PURE JOY- NOT JUST HAPPINESS. I ALSO FIND THAT THE PEOPLE THAT HAVE MONEY CONSTANTLY DISAGREE WITH THIS. I WANT ENOUGH MONEY TO BE FINANCIALLY STABLE FOR MYSELF AND MY FAMILY FOR THE REST OF OUR LIFES---THAT, IS IS PURE HAPPINESS!!!!!! PEOPLE WITH MONEY DON'T UNDERSTAND PEOPLE WITHOUT MONEY. I HAD TO EAT 1 MEAL A DAY IN A HOTEL WHERE I WORKED- IT WAS FREE AND THAT IS ALL I GOT FOR THE DAY-WHEN I TOLD A RICH PERSON THIS, THEY SAID OH I HAD TO PUT MY COLLEGE BOOKS ON A CREDIT CARD ONCE. IT IS NOT THE SAME AT ALL. WE NEED GIVE MONEY TO PEOPLE WHO CAN APPRECIATE IT, CERTAINLY NOT THE RICH PEOPLE WHO ALREADY HAVE IT. MAKE ME HAPPY!!!!
Posted By: REDSKINS @ 10/17/2007 1:35:48 PM

Comment: MONEY CAN BRING YOU LESS FINANCIAL WORRIES- THEREFORE BRINGING YOU AND YOURS PURE JOY- NOT JUST HAPPINESS. I ALSO FIND THAT THE PEOPLE THAT HAVE MONEY CONSTANTLY DISAGREE WITH THIS. I WANT ENOUGH MONEY TO BE FINANCIALLY STABLE FOR MYSELF AND MY FAMILY FOR THE REST OF OUR LIFES---THAT, IS IS PURE HAPPINESS!!!!!! PEOPLE WITH MONEY DON'T UNDERSTAND PEOPLE WITHOUT MONEY. I HAD TO EAT 1 MEAL A DAY IN A HOTEL WHERE I WORKED- IT WAS FREE AND THAT IS ALL I GOT FOR THE DAY-WHEN I TOLD A RICH PERSON THIS, THEY SAID OH I HAD TO PUT MY COLLEGE BOOKS ON A CREDIT CARD ONCE. IT IS NOT THE SAME AT ALL. WE NEED GIVE MONEY TO PEOPLE WHO CAN APPRECIATE IT, CERTAINLY NOT THE RICH PEOPLE WHO ALREADY HAVE IT. MAKE ME HAPPY!!!!
- Posted By: LaurenBecall @ 10/23/2007 18:40:08
  
  Comment: only 5 percent of the united states are millionaires. people who are happy., manage their money well even if they make 30 thousand a year. they are satifsied with what they have.
Posted By: rubysmama35 @ 10/17/2007 12:22:24 PM

Comment: Money WILL buy you happiness if you're homeless...or if you have an ARM :D Seriously, it's not so much that it buys you happiness, money just erases some worries. You're still going to have mental illness and physical disabilities to deal with, but, as anyone that is NOT stinking rich knows, money sure makes it a lot easier to cope!
BUNNYLOVE knows exactly what I'm talking about! Have you ever used ketchup packets (lifted from fast food places) in hot water for tomato soup (which incidentally, tastes horrible)??
Bunnylove knows exactly what I'm talking about!!
Posted By: hing @ 10/16/2007 10:23:20 PM

Comment: Money can only buy happiness when happiness can become a countable noun. Now, happiness is an uncountable noun.
Posted By: BUNNYLOVE @ 10/16/2007 9:30:26 PM

Comment: I always find that people who say that money dosen't buy happiness, have an abundance of it, have you ever not had money to eat? Or feed your pets? Or have to lie to the bus driver and say you left your wallet at home, so that you can get to work? Or eat CupASoup for dinner? I was sp desperate one time, I almost stole a barristas tip jar, that;s how bad it was, I had no phone service, so If I applied for a job, I had to go to a phone on a street to call and make a interview date, no, these people have never gone with no money, they haven't ever been hungry or had a oil furnace, and went to the gas station that had diesel, and bought a couple bucks of oil to stay warm in the winter, you have no idea what it's like to be poor and with nothing, not at all.
Posted By: BUNNYLOVE @ 10/16/2007 9:24:46 PM

Comment: Enter Your Comment
Posted By: BxGaPch @ 10/16/2007 7:06:15 PM

Comment: Worrying about money and paying bills makes me stressed and unhappy. Just ask my kids. My husband makes a good income works for a company that makes BILLIONS and one emergency and an $11,000 out of pocket max in health insurance has brought us to the brink. Right now money would make me extremely happy because I would know that any more health emergencies with my children would be covered.
Posted By: dinklebum @ 10/16/2007 5:56:28 PM

Comment: Whilst I agree that money does not buy happiness, it does however enable one to live, to pay of those essential bills, healthcare and the essentials in life. On the other hand it does give people a false sense of security that it comes with. It does not fulfill personal or emotional wellbeing, only lifts the mood temporarily, becoming an obsession with wanting more with more money to spend.
Posted By: dinklebum @ 10/16/2007 5:51:06 PM

Comment: Comment : whilst i agree that money does not guarantee happiness, in terms of emotional, personal welfare, it does allow one to be able to pay for things such as healthcare, and life's little luxuries and those bills that need to be paid !. The main problem is that the more money you have the more you want to buy and the more in debt you can get.. It becomes an unhealthy obsession.
Posted By: LadyMirenna @ 10/16/2007 4:24:23 PM

Comment: I would be very happy in a world in which everyone operated on the principle that they are responsible for upholding their end of a deal, with money being the tool of exchange for services rendered.
Posted By: LadyMirenna @ 10/16/2007 4:20:56 PM

Comment: No, money doesn't buy happiness of the existential kind but it certainly buys boundaries, choices. safety, better health on all levels and definately provides examples of humankind best accomplishments. Money is a standardized tool of exhchange amongst individuals who have claimed responsibility for upholding their end of the deal. This sense of responsibility is what seperates secondhanders (of all kinds) from producers. I would be very happy in a world that operated on these principles
Posted By: aaaa222 @ 10/16/2007 2:27:40 PM

Comment: I think that the overall premise of the story is that "Money doesn't buy happiness, but Money does buy choice, to a point". This can be true. It can buy basic needs but what about wants. Is a person better off or happier simply because they can buy something that they want to buy? Is a larger house or luxury car really making you happier when it also means larger maintainance bills and costlier repairs if it breaks? Is a larger house making you happier if it cost $2,000 to heat for a winter to stay warm , when a smaller one might cost $200? In the end I think that its not the money that brings the happiness but the perceived security that the money provides. We feel safer with the luxery car or the new home, we feel we really are doing better than our parents did. Even if that perception is not correct. There are people out there making millions of dollars a year and bouncing checks to the grocery stores, so are they any happier? Some make a million and pay out 90% to other peole who are supposed to help them keep it, like lawyers and accountants. Or doctors to help them figure out why they don't feel happier.
Posted By: Richisbetter @ 10/16/2007 1:26:59 PM

Comment: Having money goes a long way in having happiness in your life. I don't care what anyone else says. With money you can choose where to live, where to go to school, where to dine, with whom you assoicate with, where to travel, what merchandise you can buy, what house you can buy, what doctors you can go to, what clothes you can buy, what sports you can afford to attend, what sports you can participate in, what country clubs you can afford, what lawyers you can hire, etc. etc. You can choose to live a solitary life, a married life, a world traveler with servants or you can spend the money to give to charity, helping others in need, helping social and church institutions. You can choose to be a philonthropist or a scrooge. You have more choices when you have more money than what you need to survive. You don't have to live a life of survival from day to day. You can live a life of surplus. Rich people who are unhappy are unhappy for psychological reasons, not because they have money. With money you can follow your dreams; any dream. Whether you choose to take a trip to outer space or start a company that would help others to follow their dreams. The possibilities are endless when you have money. Just compare an individual to a country. What countries have the best of everything? Well, the answer is obvious. It is country with money, wealth and power. Compare Haiti with the United States. Which country is better off? Why is it better off? The answer is obvious. It is because of money. Money talks. Money can bring you success, power, prestige, honor, fame, fortune, and enable you to have the best health care system for you and your family. Money not only pays the bills, it also pays for your needs, wants and desires (even sexual desires). So, even though money in and of itself cannot bring happiness, having the money can help you achieve happiness. It is better having it than not having it all.
Posted By: Tiger lily @ 10/16/2007 1:22:17 PM

Comment: Of course moeny does not buy happiness ! Duh...if it did would we have the Britney Spears and Paris Hilton sagas filling the tabloids every day ??? We need money to live and money buys things that can improve your living standards thus contributing to happiness ,but happiness in itself is not material so it can't be bought . It's a condition of mind and spirit that is created by things like family relationships ,romantic interests, friends , achieving goals , personal fulfillment , spirituality etc.. Money can't but these things , in fact sometimes too much money or the pursuit of it robs us of these things , distracts us from what is essentially important in life. The Masai people are basically happy because their life is simple , their needs are simple and they don't know or need anything else but the basics . Give them a lot of money , big houses , SUV's and fancy clothes and see if they will become "happier", a look at our own society tells us not.
Posted By: ddt123 @ 10/16/2007 10:54:21 AM

Comment: I have always tried to understand why it is always people with money who says how unhappy they are. Money in itself is not suppose to make you happy, what you can do with it and your life is suppose to make you happy. With it I wouldn't have to worry about a roof, food, health care, or what I want to do with my life. With out it surviving is twice as hard. I have worked all my life and at this point money is just a means to survive. I would love to do more than just survive, thank you. I would be happy with wealth because I wouldn be free to follow the dreams I can't afford to do otherwise. That is all money is suppose to do anyway is give you the freedom to dream and then act on them. If someone out there is unhappy with money I believe it's because they never knew what to do with themselves to begin with. Let me at least have an opportunity to judge for myself, so if your unhappy with all that wealth just pass some onto me and I promise I'll show you how to be happy.
Posted By: kate_smith @ 10/16/2007 10:51:17 AM

Comment: I have to say that I grew up poor, then got a rich step parent. Then I went on my own and was poor, finished school got a job, got money and stuff and became middle class. I have been at about the same level of happiness throughout. There are studies that indicate we have a happiness thermostat and all though sudden changes in prosperity may cause that to go up or down for a while that we reset to our 'normal' level within a few months. I have seen that in mine and other's lives so I think it is a sound theory. There is probably a bell curve of set levels and that would explain a lot of what this article discusses. We all know the jolly poor person and the miserable rich person. Sadly that rich person would be just as unhappy poor.
- Posted By: alwaysgrateful @ 10/17/2007 13:47:26
  
  Comment: I couldn't agree more. I too grew up poor and for the most part had a very happy childhood...aside from the occasional "rich" kid making fun of me. None of us in our family could afford college, but with hard work and a lot of determination we have all become very successful. I can honestly say that I am no more happy than I used to be. Family relationships and friends are the things in life that mattered when I was young and still matter today. I will admit that having money now does give me piece of mind when it comes to health care and taking care of my children, but I find happiness in the health of my family and friends. I will also comment that those of us who are blessed really should help those who are not as fortunate...THAT will bring you a happiness that certainly can not be bought!
- Posted By: alwaysgrateful @ 10/17/2007 13:40:32
  
  Comment: Enter Your Comment
Posted By: ddt123 @ 10/16/2007 10:44:15 AM

Comment: I have
- Posted By: alwaysgrateful @ 10/17/2007 13:39:39
  
  Comment: Enter Your Comment
Posted By: ddt123 @ 10/16/2007 10:43:40 AM

Comment: I have never been able to decide if money makes me happy because I have never had enough of it to tell. It seems to me that it is always the people with money who tell you that it doesn't make them happy. Well from experience I can tell you that not having it doesn't make you any happier. From everything I've learned in 57 years of living, money was never intended to make you happy but give you enough free time to find your own happieness. I believe it would make me happy because I could have free time to do what would make me happy. In any case I would like to at least find out. I would like to not worry about health care, getting old and being homeless, eating on a regular basis and going any place I want to just because I can. Now if you don't believe money makes you happy and you have some, please donate to me. I will make sure I am happy.
Posted By: Newsweekron @ 10/16/2007 10:20:37 AM

Comment: Happiness is an individual determination for sure, but how does one finally determine what it is that will make them happy? Is it wealth, health, accomplishment? What akes our short span of time in this world worth experiencing? I have been to the Masaii village, and in the dung huts speken about in this story and will confirm that those I met truly were happy. I have also been to Jamaica with its beautiful beaches, and found very little happiness among its people.I submit that happiness is an internal state of being that is resistent to hte externals of "what we have" and "who we are."
Posted By: kate_smith @ 10/16/2007 10:17:09 AM

Comment: I have to say that I grew up poor, then got a rich step parent. Then I went on my own and was poor, finished school got a job, got money and stuff and became middle class. I have been at about the same level of happiness throughout. There are studies that indicate we have a happiness thermostat and all though sudden changes in prosperity may cause that to go up or down for a while that we reset to our 'normal' level within a few months. I have seen that in mine and other's lives so I think it is a sound theory. There is probably a bell curve of set levels and that would explain a lot of what this article discusses. We all know the jolly poor person and the miserable rich person. Sadly that rich person would be just as unhappy poor.
Posted By: sandrine branch @ 10/16/2007 9:51:06 AM

Comment: While working for one of the country's top financial investment firms. I had the opportunity to come into contact with many extremely wealthy clients, and I can assure you that money does not bluy happiness. Money may "buy" flexibility, and one's choices are certainly wider, but trust me when I tell you that you the very rich have there share of problems too. Basically, you trade in one set of problems for another. The rich still have to deal with illness, sudden death, mental illness and a host of other issues that those of us who are not rich can only imagine. Someone once said that "anyone who thinks the rich don't have problems, has never been rich." Be careful what you wish for!!
Posted By: sandrine branch @ 10/16/2007 9:47:18 AM

Comment:
Posted By: sandrine branch @ 10/16/2007 9:46:52 AM

Comment: Enter Your Comment
Posted By: WBWilhite @ 10/16/2007 5:16:01 AM

Comment: Of course money can't buy happiness. Ask Owen Wilson. But maybe it could rent some happiness. Only a rich person has the luxury of not having to worry about all the bills such as car payments, car insurance, car maintenance, health insurance and bills, the mortgage, the utilities, food, retirement funds, etc. Only the rich have the luxury of worrying about their happiness. Given a choice between the worry about my bills and the worry about my happiness, I'd gladly take the latter. At least I could be comfortable while I worry.
Posted By: WBWilhite @ 10/16/2007 5:08:38 AM

Comment: Of course money doesn't make a person happy. Ask Owen Wilson. But money can take the edge off life when you don't have to worry about medical bills or health insurance, the mortgage, car payments or car insurance or car maintenance, retirement funds, food, utilities, etc. Only people without the burden of such worries have the luxury of worrying about their happiness. Given a choice, I will take the latter.
Posted By: zephyr45 @ 10/15/2007 4:51:42 PM

Comment: It's definitely in how you decide to spend your money and figuring out your passion in life. Our money bought us much happiness in a sailboat. Unfortunately, all that sun, wind and toasting a glorious weekend with friends definitely cuts into your shopping time at the mall (i.e., we actually spend less). Although money got us here, we're definitely enjoying living simply and making memories (or at least for as long as summer lasts here in the Midwest).
Posted By: zephyr45 @ 10/15/2007 4:06:01 PM

Comment:
Posted By: peace23 @ 10/15/2007 2:16:57 PM

Comment: "Money doesn't buy happiness" is a saying the rich put out there long ago to keep the rest of us from competing with them.
Posted By: peace23 @ 10/15/2007 2:14:44 PM

Comment: What to do with a lot of money.? I would support a number of charities I already support on my meager retirement income. I would travel Europe and Asia. Go back to college and get the degree in Archaeology I really wanted in the first place. Then fund a dig or two in France and Germany to find and excavate old Roman villa sites. Indulge myself in one of my favorite past-times giving surprise gifts to family and friends.

friends
Posted By: movie @ 10/15/2007 2:04:33 PM

Comment: I feel as though so-called economist and the media are spreading propaganda. I remember the time when employers gave a merit increase and a cost of living increase all in the same year. And nothing has changed other than the employers give measely merit raises and the cost of living raise is gone. It's not that the companies cannot afford to pay. Their profits are shooting out of the roof. It's just that they put Bush in office to do exactly what they are doing now. Nothing. And the American people have sat back silently and complained about it, but have done nothing to fight the dirty tactics of big business. Bush's economic plan was to increase the profitiabilty of big business at the sake of the middle class. The middle class is the only class being hurt since Clinton left office. Bush has not been fiscally sound. As a matter of fact, he never had a domestic agenda. So don't sit back and complain, Do Something. These companies that are sending these job overseas, stop buying from them. Go Green instead. After all, the food companies and the pharmaceutical companies control us like robots. The Food Administration allow imported, un-inspected food to come into our grocery store freely and without question. These preservatives and pesticides are changing our molecular make up and producing cancer. The doctors are in the pockets of the pharmaceutical companies and will prescribe 10 different medications if the consumer doesn't speak up. This ia BIG PROPAGANGA machine at work and we the American people can break their backs if we quit taking their words as gospel and investigate for ourselves. There is no excuse. The internet should be your research tool. Go Green, Eat Organic and seek homeopathic remedies put these bullies out of business.
Posted By: peace23 @ 10/15/2007 2:00:06 PM

Comment: Extreme wealth does not buy happiness it appears this article is saying. Well, maybe so, but I'd sure as hell like to give it a try!
Posted By: sycowans @ 10/15/2007 1:53:45 PM

Comment: Everything is higher, utilities, food, rent/mortgages, healthcare, gasoline. Our government seems clueless. It's as though the American Dream has become an American nightmare. The high cost of everything has created not only a housing bubble, but an economic bubble that is imploding the middle class.
Posted By: sycowans @ 10/15/2007 1:46:36 PM

Comment: Enter Your Comment
Posted By: goldjman @ 10/15/2007 1:37:43 PM

Comment: IN general I agree, but in my case it would have, one prevented unhappiness in my marraige because of the what the constant financial strain put on the happiest of marriages it can turn unhappy and two, it would have allowed me and my wife to have kids which in our case would have taken a lot of expensive medicine.

So if money can prevent unhappiness, then you end up with the opposite, Happiness. At least if you had a happy marraige to start out with. I experienced this sitituation first han

Maurice L. Las Vegas
- Posted By: hansterl @ 10/16/2007 14:07:36
  
  Comment: No offense but I can't understand you.
Posted By: mazkothaesposa @ 10/15/2007 1:11:38 PM

Comment: I agree and disagree at the same time. When I was a stay-at-home mom living on my enlisted husband's salary, I was extremely satisfied with my life even though we struggled financially. Now that I am providing a second income because we live in an are with a much greater cost of living, I feel unsatisfied even though we have more money. Why? Because I we are still struggling, though not to the same extent, but yet I don't get to care for my children or household to the degree that I used to. I feel like I am a slave to the middle class system. We would like to have another child, but I won't do it if I can't stay home, and that looks like a prospect that is highly unlikely anytime soon.
Posted By: Chelli01 @ 10/15/2007 12:56:08 PM

Comment: I work one full-time job and 2 part-time jobs. I do not waste money. I have a budget and stick to it. My utitlies seem to keep increasing, grocery prices keep increasing cost of everything keep rising but not my pay. I recieved a 3% pay increase with my last evaluation. I was told that was good. How I feel is 3% of nothing is still nothing.

Thanks
Chelli Burgess Wichita Falls, Texas
Posted By: ThinkPatrick @ 10/15/2007 12:54:36 PM

Comment: The problem that continues to plague many who attempt to create a model for demand destruction on the price of petroleum due to increased cost;
"These (increasing) costs will gradually reduce profits and, therefore, reduce the willingness of operators to invest in further extraction. That will slow down the growth and, eventually, cause the peak and the successive decline."
??? is that there is economic incentive to invest while the prices continue to climb because there are not ???reduce(d) profits???, but rather there is an increase. Revenue continues to climb because customers at the pump are willing to purchase fuel (and food) on credit and will sacrifice other non-essentials (and a few essentials) to maintain their privilege to drive inefficient vehicles, forgo the added cost of more efficient lighting, fail to turn down the thermostat and put on a sweater. When many begin to feel the squeeze, they do what has pushed part of the economic crisis in the middle and lower socioeconomic strata - they take a small loan against their homes, with a hopeful eye on future changes in employment or children moving out and on to their own independence. They gamble tomorrow with a pay day advance today and pray for overtime next week.
The result has grown behind the numbers from Wall Street for several years now - credit card debt and credit card delinquency is now the highest it has ever been ... catastrophic. What this means is that demand destruction will not happen until quite literally no one can afford to even live on paper money. There are many who would point to the endless diversion the middle and lower classes have found for themselves in this society as some kind of evidence that people everywhere are living good. But too many ???egg-spurts??? look only at numbers like Consumer Confidence or end of the day sales figures ??? without actually stopping to ask themselves, ???Okay ??? the consumers spent the money. Where did they get it???? As the price for a barrel of oil continues to climb, the trickle down effect is an increase in the price of absolutely everything thereafter, with as much as a 6 ??? 9 month delay before it is felt on the grocery store shelf. The economy will continue to grow so long as middle and lower income Americans spend ??? it???s where 2/3 of our economic might derive from. As more and more middle income Americans find the cost of living a real challenge, the country???s economy finds greater strength because more money is kept in circulation, though that also means more people living hand to mouth.
And that, in the final analysis, is the crux of the matter. So long as more and more people find themselves ever increasing their debt, finding it harder and harder to save rainy days, and devoting themselves to overtime hours - this economy will remain a growth economy. As long as big employers like Wal-Mart, The Home Depot, K-Mart and others continue to change hiring policies (part-time or no time) to save on benefits paymen
Posted By: ThinkPatrick @ 10/15/2007 12:54:17 PM

Comment: The problem that continues to plague many who attempt to create a model for demand destruction on the price of petroleum due to increased cost;
"These (increasing) costs will gradually reduce profits and, therefore, reduce the willingness of operators to invest in further extraction. That will slow down the growth and, eventually, cause the peak and the successive decline."
??? is that there is economic incentive to invest while the prices continue to climb because there are not ???reduce(d) profits???, but rather there is an increase. Revenue continues to climb because customers at the pump are willing to purchase fuel (and food) on credit and will sacrifice other non-essentials (and a few essentials) to maintain their privilege to drive inefficient vehicles, forgo the added cost of more efficient lighting, fail to turn down the thermostat and put on a sweater. When many begin to feel the squeeze, they do what has pushed part of the economic crisis in the middle and lower socioeconomic strata - they take a small loan against their homes, with a hopeful eye on future changes in employment or children moving out and on to their own independence. They gamble tomorrow with a pay day advance today and pray for overtime next week.
The result has grown behind the numbers from Wall Street for several years now - credit card debt and credit card delinquency is now the highest it has ever been ... catastrophic. What this means is that demand destruction will not happen until quite literally no one can afford to even live on paper money. There are many who would point to the endless diversion the middle and lower classes have found for themselves in this society as some kind of evidence that people everywhere are living good. But too many ???egg-spurts??? look only at numbers like Consumer Confidence or end of the day sales figures ??? without actually stopping to ask themselves, ???Okay ??? the consumers spent the money. Where did they get it???? As the price for a barrel of oil continues to climb, the trickle down effect is an increase in the price of absolutely everything thereafter, with as much as a 6 ??? 9 month delay before it is felt on the grocery store shelf. The economy will continue to grow so long as middle and lower income Americans spend ??? it???s where 2/3 of our economic might derive from. As more and more middle income Americans find the cost of living a real challenge, the country???s economy finds greater strength because more money is kept in circulation, though that also means more people living hand to mouth.
And that, in the final analysis, is the crux of the matter. So long as more and more people find themselves ever increasing their debt, finding it harder and harder to save rainy days, and devoting themselves to overtime hours - this economy will remain a growth economy. As long as big employers like Wal-Mart, The Home Depot, K-Mart and others continue to change hiring policies (part-time or no time) to save on benefits paymen
Posted By: NorthWind @ 10/15/2007 11:31:01 AM

Comment: The keyword in the relation between money and happiness is EXPECTATION.

Simple, isn't it?
LOL.
Posted By: rvhobbs @ 10/15/2007 11:19:54 AM

Comment: Great Article! Money enhances our ability to make choices. People make good choices and people make bad choices. Money increases our opportunity to excel, or to "screw up".
Posted By: roberto2th @ 10/15/2007 11:00:17 AM

Comment: "Money can't buy you happiness, but it can buy you a Jet-Ski. Try frowning on a Jet-Ski."
Posted By: roberto2th @ 10/15/2007 10:59:19 AM

Comment: "Money can't buy you happiness... but it can buy you a Jet-Ski. Try frowning on a Jet-Ski."
- Posted By: tommyvee @ 10/15/2007 12:38:46
  
  Comment: Yes, but look around at how many other people on the lake are frowning about the noise, pollution, and consumption of public space that a Jet-ski imposes on them. Not to mention the climate change impacts of the wasteful comsumption of fossil fuels. Somebody in Bangladesh is frowning as a larger than usual monsoon flood drowns them and their family.
  Plus I have seen plenty of people frowning when their Jet-Ski will not start. More than a few people have been killed by Jet-Skis that ran them over while swimming. I am guessing their friends and family were not sniling either.
  - Posted By: Do not stand still @ 10/15/2007 18:43:47
    
    Comment: Be afraid of looking at a situation so far that the original concept is lost. Why not "smile on a jet ski?" Enjoy the time you have in this particular situation; alot of peplple cannot even get on a jet ski!
Posted By: lfonlfonlfon @ 10/15/2007 10:52:35 AM

Comment: "Young people who describe themselves as happy typically earn higher incomes, years later, than those who said they were unhappy" Says who? This would seem to be a thoroughly difficult thing to study.
Posted By: Gioiello @ 10/15/2007 10:20:53 AM

Comment: Money only enhances what's already there in a person. If you a giving person, you're going to give more. If you're a stingy person, you're going to hold on to more. If you have poor money management skills, you're going to go bankrupt faster. Money only enhances what's already there in a person.
Posted By: rgengel @ 10/15/2007 10:18:48 AM

Comment: non sense first of all any good teatise on the subject should carry definitions of boundaries. Wealth in America is not making half a million and living in New York City. Wealth is trying to decide whether to trade in your G 405 on a new 7X. Wealth is giving your new bride a paid up lifetime annuity and not missing the money. Wealth is assurance from your AMEX Black card concierge that altough Villa D'Este is completely booked this weekend they will ahve a large suite for you on your arrival.
An article on wealth and happiness should at the very least have an expert in the field on the staff.
Also the long areed to premise of wealth has not been offered " Money wont buy you happiness, but it will get you so close you wont know the difference"
Posted By: Gioiello @ 10/15/2007 10:17:27 AM

Comment: Money only enhances what's already there. So if your a giving person, you'll give more. If your a stingy person, you'll hold on to more. If you have poor money management skills, you'll go bankrupt faster. Money only enhances what's already there.
Posted By: gachfr @ 10/15/2007 9:27:32 AM

Comment: IN the words of the immortal Leta Parks "Those that do not think money cannnot buy happiness are just not shopping in the rights stores."
Posted By: saphyre @ 10/15/2007 9:07:46 AM

Comment: I echo Spignardo -- had similar experience only single and without children.
Posted By: saphyre @ 10/15/2007 9:06:23 AM

Comment: I echo Spignardo wholeheartedly, only I have no children to think of and only my own needs to meet.
Posted By: jcr1975 @ 10/15/2007 9:04:28 AM

Comment: I can honestly say that I believe that I am as happy as it is possible to be. It has nothing to do with money and everything to do with surrounding myself with wonderful people and developing positive and enduring relationships with them. Of course it is necessary to have enough income to support your family with food, shelter etc, but I don't believe that being able to have whatever you want whenever you want it adds to happiness. I think that it all depends on the individual, if you are able to put material things aside and be grateful for what brings you joy, then you can find happiness. I also believe that these people would continue to be happy, even with more money, providing that they don't lose sight of what it was that made them happy before the money came. The wealthy individuals who do not consider themselves happy are probably missing out on the joys of life that cost nothing. If our society placed more emphasis on who we are and how we treat others rather than what we have, I believe that the people who are considered to be the wealthy ones would not be those with a big bank account.
Posted By: johnkwhite1 @ 10/15/2007 8:21:09 AM

Comment: About a year ago, I read a comment posted by someone about an article not unlike this one. The poster's comment shook me up. He pointed out that each of us have a limited amount of time to live our lives, and that exchanging any of it for things that weren't sufficient and necessary to living our lives was something we should think about very carefully, and he set out a simple test which basically asked: how much money would it take for you to sell one year of the time you have to live to another? And whatever that amount was, was the amount you should be comfortable spending on things not sufficient or necessary to living your life, and then asking after you bought them: are any of them worth the extra year worth of time I am spent on them? I started out small: a week's worth of my time. Now, I'm up to almost a year's worth.
- Posted By: hansterl @ 10/16/2007 14:24:56
  
  Comment: Hey Johnkwhite1, can you explain that to me again. I did not get it.
Posted By: cmm316 @ 10/15/2007 8:02:25 AM

Comment: Enter Your Comment
Posted By: Rob12345 @ 10/15/2007 7:40:55 AM

Comment: The Inuit are happy because they are ALIVE and not frozen. The people of Calcutta are happy because they are ALIVE. The slum dwellers are ALIVE...

If you ask a person with only one foot if he is happy, and he lives in a land of legless men, he is probably pretty damn happy, relatively....

Ask the same thing of an American inner-city child and he will tell you he is going to be a rich and famous gun toting rapper with all the "bling" and hos, or a rich, professional football player with all the pit bulls.
Posted By: sutraupa @ 10/15/2007 7:30:22 AM

Comment:
Posted By: sutraupa @ 10/15/2007 7:29:24 AM

Comment: Enter Your Comment
Posted By: sd989 @ 10/15/2007 7:03:48 AM

Comment: You guys got things completely backwards. In other words, your premise, that happiness is what people want is faulty. People say they want happiness but the data (their actions) shows thats not the case. A logical conclusion from the data is that people want status (stuff). Why do people want status? Because it's innate in the structure of our brain. Why is that the case? Go ask an evolutionary biologist. Then you would have an article that gives me something to work with rather than a thousand words of pop culture. You can title the article "Cars, Diamonds and Fashionable Thought. Why America has lost it's mind, as if it ever had one to begin with...."
Posted By: sd989 @ 10/15/2007 6:54:44 AM

Comment: You guys got things completely backwards. In other words, your premise, that happiness is what people want is faulty. People say they want happiness but the data (their actions) shows thats not the case. A logical conclusion from the data is that people want status (stuff). Why do people want status? Because it's innate in the structure of our brain. Why is that the case? Go ask an evolutionary biologist. Then you would have an article that gives me something to work with rather than a thousand words of pop culture. You can title the article "Cars, Diamonds and Fashionable Thought. Why America has lost it's mind, as if it ever had one to begin with...."
Posted By: sd989 @ 10/15/2007 6:38:22 AM

Comment: You guys are fools...
Posted By: s5thomps @ 10/15/2007 6:11:11 AM

Comment: M.I.A.M.I Money is a major issue!, I do not beleive that money buys happiness. But it sure pays the bills. Have you ever wondered why some lottery winners lose their mind when they come into wealth? Money is just a tool to get goods and services. But I beleive that happiness starts within.
Posted By: s5thomps @ 10/15/2007 6:00:35 AM

Comment: Enter Your Comment
Posted By: spignardo @ 10/15/2007 4:55:36 AM

Comment: My wife and I went from 6 digit income to 2/3 reduction in household income. We struggle to provide for our 3 beautiful children. We have made a lot of financial sacrifices to adjust BUT we are happy now than we have ever been in our lives. Would it be great to have more money? Absolutely but I don't believe our happiness quotient would be greatly changed for it.
Posted By: spignardo @ 10/15/2007 4:52:12 AM

Comment: Enter Your Comment
- Posted By: ArrogantApe @ 10/16/2007 11:23:52
  
  Comment: The monk has no money under his name is happy about his material processions, but may not be happy with his spiritual achievement. Contentment or happiness may be achieved by eliminating your desires.
  - Posted By: LaurenBecall @ 10/23/2007 18:42:45
    
    Comment: The Monk also doesn't work, has a roof over his head and food to eat. so yes I would be happy too!!!
- Posted By: hoteldude @ 10/15/2007 13:44:54
  
  Comment: I made $12 million in 4 years and now I'm making no income at all. It was better before.
  - Posted By: LaurenBecall @ 10/23/2007 18:43:44
    
    Comment: only because you cannot fill your inner void with things any longer
Posted By: spignardo @ 10/15/2007 4:51:59 AM

Comment: Enter Your Comment

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