Group Report: Can Money Buy Happiness? A Study Skills Perspective

This report, completed as part of an Academic Study Skills module, investigates the complex relationship between money and happiness. The group report presents an introduction outlining the importance of money in life and the ongoing debate about its ability to bring happiness, followed by a literature review summarizing different viewpoints on the topic, including perspectives from various authors. The report then provides the group's conclusion based on the arguments considered, analyzing whether money can buy happiness. It also includes a group reflection using Tuckman's theory to evaluate their collaborative process. The report uses a variety of sources, references them appropriately, and offers a comprehensive analysis of the multifaceted relationship between money and happiness, exploring different perspectives on financial well-being and life satisfaction.

ACADEMIC STUDY
SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................4
LITERATURE REVIEW................................................................................................................4
GROUP’S CONCLUSION.........................................................................................................6
GROUP REFLECTION..............................................................................................................7
REFERENCES..............................................................................................................................10

INTRODUCTION
Money plays a very important role in human being's life since money is providing people
with control over their lives. Finance can make group lesser dependent and give them freedom to
what they wish to do. In today's world this is a very debatable question whether money can buy
happiness or not but it can definitely buy satisfaction in a human being's life. A person works
hard every day to get money in return so that they can have a homely life and if they get a
comfortable life then they can find happiness for themselves which is a very important factor in a
person's life (Mogilner and Norton, 2016). But on other hand people do not find happiness
because of money can not find friends and family from that factor but to have joy in life these
factors are important as well therefore people have to have a control on both factors.
Through gender money value can also differ since a lot of women like shopping and that
can make them happy so money will be able to provide them with happiness were as men will
not find happiness till they are not able to find more money for hard work they are putting in
work they are doing every day (Matz, Gladstone and Stillwell, 2016). Money can find
independence and dependency in life which can make people happy or not so happy about this
factor which will be discussed in further report.
Study consist of arguments whether money can find happiness or not with help of Belbin
role framework and Tuck man theory to understand this factor well. It is very essential to
understand this factor but everyone has their own point of view towards this topic. It is a very
sensitive factor which report is going to put forward point of view of different people's thinking
towards this theme.
LITERATURE REVIEW
As per view of Whillan, (2017) most of United States, Canada and other countries are
spending their money on time saving services which is giving them a satisfaction in life.
Spending money on a comfortable life is providing people with happiness through satisfaction in
life. Well other authors and writers may criticize this factor but this is true to some extent. People
who have money have happiness is what Whillan has to say because there is a stress which
money can solve since they can afford items which are relaxing for them. There are more friends
and family which will ask for help from these people financially and by helping they will be
happy and making there family reach goals they want in life, but they will not have trust worthy

people around which will make them unsatisfied but money will make them feel like they own
everyone. Some people like it when they know they are capable of doing everything they want
with money, and they work hard also for that factor therefore they can achieve their target of life.
In view of Grant Sabatier, (2019) money can buy happiness because there are a lot of factors in
life which can be fulfilled but people who have limited money will not be able to get that factor
which is a very important factor in life. Grant Sabatier says that more money he makes happier
he gets in life and that is a very important factor for him because he can provide all factors which
his family is expecting out of him, and he will be able to provide people with right standards of
lifestyle. Control on their self time is more and opportunities to give back what they do in life
and freedom they get because of money is happiness. There is a true passion in people get more
money in life so that they can make a satisfactory life for themselves, and they work according to
achieving that factor.
In accordance with Sarah Gervai, (2015) money can not buy happiness because being
rich is not making people have a path to happiness. Masses who do not have money they will say
that money is key to happiness but for masses who have that they have safe neighbourhood,
leisure time, fulfilling work, but they will be so busy with their works that they will not have
time for people they love who can be their for happiness they have in life to be shared. People
should have someone on their side so that they can share their happiness with and that is a very
important factor as well so that they can feel like people appreciate for hard work they are
putting in is not just for them but for others as well. Having most expensive phone, brands and
everything in world will not lead to happiness because world is not about competition it's about
satisfaction and not showing off to people. Sarah contradicts herself by saying that people will
find happiness when they spend money on themselves, but they can find happiness when they
spend money on others which will create a happier environment for themselves and seeing others
happiness will create a happiness for themselves. People who have money will not have
emotional aspect because they are always busy which they think that money will be able to get
what they need most in life (Boyce and et.al., 2017). Disappointments are present in those people
are not able to achieve goals but have a satisfactory life but that can be over come when group
think about happiness and not money. Money is not as important as happiness is when it comes
to having a better lifestyle. For long term happiness is what people deserve at end of time. Sarah
is a psychology professor who has done a detail study on this factor and according to her money

is not so important but happiness is because that will count in end. Group should not keep
running behind money their entire life, but they should focus on their inner happiness of life.
In opinion of Ana Lopez, (2009) said that money can bring happiness and sadness in life
in their own ways which is money can make one experience all factors in life but running behind
money can make people be lonely which is they will have no one to share their happiness with.
Even rich can find happiness by giving their money for charity and make others happy with there
happiness. Due to money people can find happiness through experience and not by materialistic
items. Money is there or not but a satisfactory environment will make people happy with kind of
lifestyle they have created for themselves and that is a very important factor for people. People
differ with one another because of level of income they have but how is that good for functioning
of world is what Ana Lopez has to say for money. To have a joy of life it is very important that
people stay together because there are a lot of experience which can be exchanged which help
people to grow. Rich and poor differentiation that human being's have created for themselves has
raised this argument about if money can buy happiness but this is not required for human being
because they need to be satisfied and have a comfortable lifestyle for themselves so that they can
live peacefully. People look for Luxury lifestyle but it is very important to understand that
money and happiness are two different things, and they should not treat them same way. Human
beings should think twice before they purchase anything so that they can make a better lifestyle
for themselves (Aknin, Wiwad and Hanniball, 2018). Personality and goals have to be achieved
but with that comes happiness and sadness but mass should understand difference before they
run behind money so that they can not lose people on there way. When people get money they
tend to forget their friends and people who supported them to reach that height. Money will not
find happiness and in some ways in it will as well is what Ana has to say.
GROUP’S CONCLUSION
Money can bring happiness to some extent but it can also bring a lot of sadness as well.
This differs from person to person because everyone has a different take on this factor since
money can value a lot in someone's life and it can not in other people's life's. Money can bring in
dependency and time for themselves in life but what it can not get is people who can stick by you
for rest of your life. People will have no one to share their happiness with which is a very
important factor therefore they must try to find ways in which they can satisfy themselves over

all. People should have ways to make themselves feel better and comfortable. Who improve their
working capabilities and have more ideas for future will be able to make better money but people
who want to have a satisfactory life and make most from that factor will make them.
Improvement in thinking of groups who are not satisfied with factors around them is that they are
not trying to find happiness, but they just want to worry about people around them that what they
will be thinking of them. Money will only get people a standard of living or a place for
themselves in which they can show others lower than them but that will not get happiness which
is a very important factor for people to understand. Money is a factor which can get both because
money is not stable in anyone's life it can bring happiness and money can bring sadness as well
when it leaves.
According to our perspective money is not as important for happiness in life because that
happiness is a factor which comes from inside a person and money is something for which they
work hard in life. Money will not provide people with family and friends but a happy behaviour
and attitude will lead to people around who are trust worthy and sharing happiness is always a
better satisfaction in life rather than making people worry about situations. Happiness and money
are two different aspects of life, and they can not be compared as one. Money will get a lot of
factors together by making people have a lifestyle which people expect them to have. Rich
people will not be getting things which are making them happy, but they are buying items which
are expensive even if they are not happy with them. Comfortable and self-satisfaction will be
compromised by them because of expectation from people. There are people who are donating
their income for people to be happy which will give satisfaction but not trust worthy people
around them. Having a person around with whom they can share everything they have in mind is
a great factor, and they must work for that so that they can be happy in life which is more
important than money.
GROUP REFLECTION
Group performance to complete this task can be explained with help of Tuckman Theory
of team development. Bruce Tuckman gave this theory so that there is a better understanding of
working of a group together. There are few steps which are involved to make this process take
place which are forming, storming, norming and performing. Forming is when task is allotted to
all members of group. Forming takes place by leader of group, so they all voted for a fair leader

in group. There were 4 members to complete this task. First member has to frame areas which
had to be covered in task, second member had to survey topics with at least 40 to 50 people so
that they could find out results which is very precise. Third member had to come to a conclusion
after survey was taken and four members of group had to write this task down. This was done so
that task could be completed on time and all members have a very important role to play in
report completion. Storming was about topic because two people agreed to fact that money can
buy happiness and other two agreed that it does not. There has to be a clarity in work which was
going to take place and till everyone did not come to a conclusion till then other stages would not
take place in proper way. There were a lot of discussions which took place so that group could
come to a conclusion if this statement was right or not but group came to a conclusion that report
is going to be neutral. Conflicts which arose during task wasted our time and task was not being
able to get completed on time. It is very important to complete a task on time and that can only
happen when there is a time management in functioning. Equal distribution was done so that
process of task could be done on time and everyone was given a time line so that they could
complete task. Norming is to appreciate efforts and specialty they have in which group used in
the best manner possible. Giving right job to right person would lead to a better result.
Performing is last stage in which task is complied and presented with a conclusion about topic.
Performance of group was because we all had a good communication between ourselves, and we
did not take conflicts to personally which is why we could understand each other. Decisions of
group were not taken by just one person but with everyone's acceptance so that conflicts do not
arise which will make process of performing task difficult.
Having too many heads in one task can lead to huge conflicts but end result was good
because group understood each other, and we would come to a conclusion that was in neither of
sides. Coming to a common conclusion was best since task is compiled with all point of views of
all members so that there is no conflict ahead of that. It is very important to understand
importance of group as well when there is a task which is supposed to be done with everyone's
point of view. Everyone's skills were used in right place and right way possible so that there is a
better understanding and task could be justification from all of us. Time duration of task was
kept in mind so that functioning of task could take place in a better way. Organizing and
planning play a great role in making work take place so that topic can be conveyed in a better
way which will be accepted. Ideas of everyone does play a very important role in task and that

will make group have a better functioning for themselves since they will have everyone's
different opinion on roles and functions which will make group think again and again before
coming to a conclusion.

REFERENCES
Books and Journals
Aknin, L.B., Wiwad, D. and Hanniball, K.B., 2018. Buying well‐being: Spending behavior and
happiness. Social and Personality Psychology Compass. 12(5). p.e12386.
Boyce, C.J and et.al., 2017. Money may buy happiness, but often so little that it doesn’t matter.
Psychological science. 28(4). pp.544-546.
Matz, S.C., Gladstone, J.J. and Stillwell, D., 2016. Money buys happiness when spending fits
our personality. Psychological science. 27(5). pp.715-725.
Mogilner, C. and Norton, M.I., 2016. Time, money, and happiness. Current Opinion in
Psychology. 10. pp.12-16.
Whillans, A.V and et.al., 2017. Buying time promotes happiness. Proceedings of the National
Academy of Sciences. 114(32). pp.8523-8527.