The Link Between Money and Happiness in Modern Society Essay

Introduction

The link between money and happiness is a contentious topic in society. For many years, money has been called the root of evil (Bel and San Luis). The notion is correct if the money is used in activities that can cause harm to the user or others. Money used in illicit drugs, sexual immorality, bribes, and other harmful activities can be considered the root of evil.

However, money can be a source of happiness if used appropriately. It is an effective mode of exchange for goods and services that replaced barter trade and other currencies, such as gold, which were laborious to use. Some groups believe that money can bring happiness, while others argue that having money can introduce problems. This exploratory essay will present the relationship between money and happiness.

Money, Basic Needs, and Happiness: A Fundamental Link

Money plays a vital role in enabling people to meet their basic needs and improve their overall happiness. According to studies by Dunn and Courtney, people who are able to afford their daily necessities, such as food, shelter, education, and healthcare, experience higher levels of happiness than those who struggle to provide for themselves (Dunn and Courtney 1). This is because the necessities of life are essential for survival and well-being, and the inability to offer them can result in a great deal of stress and unhappiness.

On the other hand, the lack of money can have the opposite effect, leading to a life filled with misery and hardship. People who struggle to make ends meet may experience hunger, homelessness, a lack of education and healthcare, and may even be exposed to dangers, such as violence (Rivara et al. 1624). These struggles can take a serious toll on individuals, undermining their health and happiness and making it difficult for them to enjoy life to the fullest. Money helps individuals fulfill their fundamental needs and enhance their overall well-being.

Happiness Derived from Buying Free Time

Besides helping people meet their basic needs, money fosters happiness by providing individuals with the means to spend on experiences. Research shows that spending money on experiences, such as vacations or new adventures, can bring individuals greater joy than spending money on material possessions (Bronner and de Hoog 90). This is because experiences create memories that can last a lifetime and continue to bring joy and excitement long after the experience itself has passed (Bronner and de Hoog 90).

For example, the anticipation of a vacation can bring excitement as individuals prepare for their trip. During the holiday, the memories and experiences gained can create a sense of fulfillment, and even after the vacation is over, the memories of the experience can continue to bring happiness through revisiting photos and reminiscing about the event (Bronner and de Hoog 90). Thus, having financial means allows one to experience joy through meaningful experiences.

Money spent on buying free time creates long-term happiness. People with many responsibilities hardly get time to relax or enjoy themselves (Dunn and Courtney 1). However, the capitalistic economy has made it easier for people to buy time off from their responsibilities (Dunn and Courtney 3).

With enough money, one can buy home cleaning, babysitting, shopping, and other services and get time to relax. Some people can even purchase service robots that carry out their responsibilities, creating free time for themselves (Agarwal 919). As a result, people with money can use their free time to pursue activities that bring them happiness, such as playing golf, swimming, running, reading, writing, acting, and others.

Reducing the burden of work and getting time to pursue hobbies makes life more meaningful and happier (Lades 909). Lack of sufficient money will make people juggle all the responsibilities with no means to buy free time, increasing burnout and reducing their happiness levels. Thus, money makes life easier by enabling people to buy free time.

Altruism and Building Social Connections

Another way in which money generates happiness when it is used to support others. People are satisfied when they help others through challenging situations (Aknin and Whillans 3). For instance, offering food to a starving person creates personal satisfaction. Donating to a charity organization helps one explore their generosity, creating happiness. Giving to others creates happiness in various ways. First, giving stimulates the brain’s pleasure circuit, creating happiness (Aknin and Whillans 3).

Elevating others from suffering stimulates oxytocin and euphoria, promoting bonding, peace, and tranquility. Therefore, having money and giving to others is vital in encouraging happiness. Moreover, investing in others also helps build meaningful relationships and creates a sense of community. When individuals donate to a cause they care about or support a friend or family member in need, they create deeper connections and strengthen existing relationships. This sense of connection and community can bring happiness and a sense of belonging, which is essential for overall well-being.

Next, giving promotes one’s social life, thereby increasing happiness. Giving activities, such as charity drives, bring people together, enhancing engagement and interactions. Social interactions enable people to make new friends and improve their social circle. People with proper social lives are happier than lonely people stuck in jobs and other responsibilities. Strong ties help people share their problems with others, creating impactful solutions and improving their happiness levels.

Additionally, giving can influence others to give, creating even more happiness (Aknin and Whillans 3). When one begins charity work, they may influence others to join the work, creating a significant change in society. Witnessing a big change in the lives of the deprived increases one’s satisfaction, especially when one knows that they influenced others in the process. Therefore, having money enables one to give to others, creating happiness compared to people without money.

Money as a Tool for Problem Solving, Access to Healthcare, and Reducing Stress

Money brings happiness by giving individuals the ability to address their problems promptly. Even though everyone encounters life challenges, the difference lies in solving these problems. Wealthy people have great control; thus, they can solve their issues more easily than people without money. For instance, due to an unfair justice system, there is a distinct difference between well-to-do individuals and those without money in solving legal cases (Brito 145). People without money cannot afford fines, bail, or bonds, and they may end up in jail, increasing their unhappiness. In contrast, people with money can use their financial resources to expedite the process.

Moreover, having money also enables people to resolve life’s unexpected emergencies. Emergencies such as car accidents, home repairs, or sudden medical expenses can be overwhelming, especially for those without financial means. Money can help alleviate the stress and uncertainty that come with these emergencies, allowing individuals to handle these situations quickly. On the other hand, people without money may struggle to solve these emergencies, leading to increased stress, frustration, and unhappiness.

Similarly, in healthcare, people with money can solve their medical problems more easily than people without money. Patients with conditions like cancer need high-quality services that are expensive to achieve. The effluent can easily afford the costly treatments, improving their conditions faster than people without money (Brito 145).

People without money may not be able to afford services, leading to deteriorating conditions and death. The ability to solve one’s problems efficiently improves happiness levels compared to the inability to solve one’s problems. Access to quality healthcare can significantly impact an individual’s happiness and well-being. When people have the financial means to access quality medical care, they can receive timely and effective treatment for their health conditions, reducing their suffering and improving their quality of life. This sense of security and stability in one’s health can bring happiness and peace of mind, allowing individuals to focus on other aspects of their lives.

Financial Resources as a Pathway to Wealth Creation and Empowerment

Having money is a viable route to creating more money, increasing one’s wealth, and general happiness. Successful people can invest their money in other viable investments and get more returns. The availability of capital is the primary consideration in starting a business (Otto et al. 83).

People with money do not have to get loans or help from others to start their investments. They have the freedom and flexibility to pursue opportunities to improve their lives. As a result, they develop more wealth, increasing their happiness further. Wealth is essential for living happy lives and ensuring the continuity of a wealthy generation.

On the other hand, people without money have to depend on their regular jobs. Their jobs barely pay them well enough to invest in other business opportunities. Also, the jobs deny them the chance to see investment opportunities as they consume all their time. The few people without money who see business opportunities depend on loans to start their businesses. Not all businesses guarantee success, leading to a burden of loans to pay even when the business fails.

Lastly, having capital enables people to invest in opportunities such as politics, thus expanding their capabilities. For instance, politics is an expensive endeavor that people rarely pursue without sufficient funds. It requires considerable financial investment to create a campaign team, register with a political party and election boards, and secure campaign resources.

If one has money, one can easily sacrifice due to the enormous rewards ahead. People can have the opportunity to lead, influence others, and make positive changes in society. Seeing dreams come true can increase one’s happiness levels.

In business, having money gives individuals the means to start their businesses or invest in existing ones, which can bring financial stability and independence. Entrepreneurs with access to economic resources can bring their ideas to life and positively impact society, thereby experiencing a sense of fulfillment. Therefore, having money is essential in providing empowerment opportunities. This empowerment improves one’s happiness and wealth, guaranteeing freedom and flexibility.

Conclusion

In summary, this essay examined the association between wealth and happiness. Finances can bring short-term happiness if spent on products, and long-term happiness if spent on experiences and buying time. Funds create happiness when they are invested in others. When giving, people become happy through stimulation of the brain’s pleasure circuit, reduced stress levels, improved social life, and influence others to give.

Finances can create happiness by allowing people to solve their problems quickly. Prosperous individuals can afford high-quality services, such as proficient lawyers, to get justice in the criminal justice system. Individuals without money cannot afford proficient lawyers, leading to unjust decisions in court.

People with money are happier because they can get justice. The same is true of the healthcare system, where people with money can get high-quality services that improve their health conditions. From these observations, money is an essential contributor to happiness.

Works Cited

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