Money and Happiness
You are what you believe?

Money and happiness - a match made in heaven?

In our highly materialistic, media-driven, must-have latest gadget, western world you would surely think so. We mostly dream of being rich, winning the lottery or inheriting a fortune from some long lost uncle, do we not?

Money, it turned out, was exactly like sex: you thought of nothing else if you didn't have it and thought of other things if you did.
James Baldwin 1924 -1987

So can you be truly happy without money?

Wealth and Happiness

However, in the United States for example, the gross domestic product per capita has tripled since World War 2, yet wealth and happiness surveys around the question,

'Overall, how satisfied are you with your life'

has hardly changed. In general, money and happiness studies throughout the world conclude that:

'wealth increases human happiness when it lifts people out of abject poverty
and into the middle class but that it does little
to increase happiness thereafter."

Here in Britain, Inheriting a title used to be the stuff of dreams and stories too, but these days, if it happens, if comes with a hefty financial burden and a lordly manor with 'listed building' status in need of major repair. That is - after you've paid the death duties to inherit.

Current analysis across many first world countries shows an increasing debt culture. Hardly surprising with the level of money-lending 'invitations' that arrive in the junk mail.
Fortunately, apart from a mortgage, paid off long ago, debt is something I have avoided.

Statistics aside, it is about YOUR money and YOUR happiness, is it not?

Questions around Money and Happiness

Can money guarantee your health?
NO, it cannot,(ask any millionaire who has lost a loved one to cancer)... but it may make the situation more bearable in some instances. It will pay for care, more expensive drugs or treatments.
Can money make you immortal?
Some wealthy people are hoping so, but personally I have not invested in cryogenics.
Does money buy happiness?
Certainly. How could it not. You may choose not to work. You can easily afford those things you want - holidays, fast cars, jewellery, fine restaurants etc.
Does money buy happiness?
For some the answer is definitely NOT! You hear things like..'It's a burden trying to hang on to it. I don't know who are my true friends. People only want me for my money!'
Is money necessary to be happy.
Happiness is subjective. Money (or some form of exchange) is necessary to provide basic needs like food and shelter, but beyond that happiness is subjective.
Check out some Happiness definitions. Besides....wealth and happiness research found that some of the higher levels of 'satisfaction with life' were returned by the Inuit and Masai.

'The path to financial well-being begins when we align money behaviors with core beliefs.... You can express YOUR VALUES in the way you earn money;
the goals for which you save;
the things you buy;
the investments you make;
and your charitable giving.'
Laura Rowley, author of Money and Happiness.

Money Sayings

'Know thyself: Understand what values you want to express in your earning,
spending, saving and investing.'
Laura Rowley

As we are all too aware, the powers that be are not going to do away with money any time soon. It is vital to develop a healthy relationship with yourself about money. The most important questions you can answer are:

What are YOUR own values, beliefs and attitudes around money?
Do they best serve YOU?

Money makes the world go round
Money goes to money.
Money is the root of all evil.
Take care of the pennies and the pounds will take care of themselves.
Save for a rainy day.
Heads you lose, tails you lose.
Money does not grow on trees.
Never borrower nor lender be.
Money makes money, and the money money makes makes more money.
Where there's muck there's brass. (money)
Filthy rich.
Put your money where your mouth is.
Money burns a hole in your pocket.
Champagne tastes and a beer budget lifestyle.
Don't bite the hand that feeds you.
He has deep pockets and short arms.
He spends money like water
We're as poor as church mice
Rob Peter to pay Paul
In for a penny, in for a pound

Many of these values and beliefs were formed at a very early stage in your life, from the prevailing people and events of the time.

That does not mean they are set in stone. It may take a little time and work, but you can change your values, attitudes and even beliefs around money and happiness. So, as Laura Rowley asks:

What VALUES do YOU WANT to express in your:
earning
spending
saving
investing?

Money and Happiness. Money Sense?

How do you perceive money? NLP (Neuro linguistic programming) offers a great way of using your senses to understand how you perceive money. You can use metaphors to understand how you perceive money and happiness.

If you do not already know, take time out to examine your 'money sense.'

What feelings does money bring out in you (what do you see, hear, feel, smell and taste) when ...

holding money - be aware of how it varies with the amount you are holding

paying out money - be aware what affects these feelings

giving money to charity - which ones do you favour and why?

receiving money - cheques, cash, bank deposits, does it make any difference?

hoarding or collecting money - I have a friend who collects £2 coins. what coins does your money jar take?

Does the thought of money have a 'smell' or a 'taste' for you. Are these pleasant or unpleasant?

Which sayings were the easiest for ME to come up with? ...the frugal ones. Says it all doesn't it. I am gaining a great deal of knowledge about mine just writing this down...and yes, I need to do some work on it too.

Are money and happiness synonymous? Does it stop me from being happy. NO.

If you are struggling with your finances then check out the UK's no.1 Money Saving Expert - Martin Lewis.

I have always had good money sense, known how to budget and kept the family budget healthy enough to provide a secure and happy life so far. I no longer hanker after a mansion, swimming pool and fast cars, but I would certainly love the financial freedom to travel the world - while I am still young enough and in good health.

Return from Money and Happiness to Happiness Pirates

Money and Happiness

Reed island Lake Titicaca

'Purchases that satisfy psychological needs produce the greatest wellbeing.'
Professor Ryan Howell, Psychologist, San Francisco State University.

Spending money on experiences that create memories, like travel satisfies what psychologists call “higher order needs”... like the need to feel truly alive and part of the world.

Spending money on material objects is much less likely to satisfy such needs.

It shows that if you use money in the right way it can make you happy."