University Report: Exploring if Money Can Buy Happiness? Group Report

This report, prepared by a student, delves into the multifaceted relationship between money and happiness, examining diverse perspectives and research findings. The introduction sets the stage by highlighting the ongoing debate and the various viewpoints presented by different authors, articles, and magazines. The core of the report compares contrasting views on the subject, analyzing how factors such as age, personal experiences, and financial situations influence the perception of happiness in relation to money. The report synthesizes arguments, presenting a balanced discussion of whether money can truly buy happiness, or if other elements, such as love, health, and experiences, play a more significant role. The conclusion summarizes the key findings, emphasizing the complexities of the issue and the varying opinions. Finally, a reflection section provides insights into the group's collaborative process and learning experiences throughout the project. The report utilizes various sources, including academic articles, to support its arguments, and offers a comprehensive analysis of the topic.

CAN MONEY BUY YOU
HAPPINESS?

Table of Contents
INTRODUCTION...........................................................................................................................3
COMPARISON OF DIFFERENT VIEWS ON THE ISSUES:......................................................3
CONCLUSION................................................................................................................................5
REFLECTION ................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Present scenario is based upon the topic relating to the can money buy happiness and for
conducting this study various articles, magazines and authors review are undertaken to present
the thoughts and ideas in right manner. In this report the discussion is mainly presented regarding
the terms of money and also the impact regarding not having adequate money to fulfil the needs
(Haworth, 2017). As many research are conducted on this topic and even person had different
perspective of presenting their views. Usually it is also indicated that in perspective of old
person, they mainly are in favour that money not provide happiness to any person but love can
sustain the interest of person with them. In this report, it also carries the matters relating to
presenting the ideas regarding the money factors and its needs in fulfilling the demands of the
people which provide happiness to them. At last reflection is presented regarding using the
models to present the overall report in better way.
COMPARISON OF DIFFERENT VIEWS ON THE ISSUES:
As per Dube and Dube (2017) stated that money can buy happiness at certain point but
not implemented on every time period. As they stated that money is needed to meet the basic
needs which is desired by person regarding managing the personal and professional life in better
way. The reviews regarding money can buy happiness fluctuates depending upon the experiences
and capability to invest in particular scheme or investment procedure (Tambyah and Tan, 2018).
As old aged people, think that money cannot buy happiness but the love and bond which they
share with their family bring more happiness. As they feel that health and safety is mainly
maintained through proper care and bonding which they pertain with their family, friends or with
society.
Calvo and Cheung (2018) argued that in recent times, happiness can only be achieved
through having adequate money to fulfil their needs and demands. As nowadays if money is
there, happiness automatically find the route to be grabbed. Thus, the youth and adults feel that
money can buy the happiness (Can money really buy you happiness?, 2020). As if they had
money, they can fulfil their dream and also make good investment to gain longer term happiness.
Money makes the life easier, as the things which the person can demand can easily be purchased
and bring happiness to their life.

Nicholls (2017) suggested that to make someone happy, it is not necessary to have
money, as care and protection is to be undertaken or sometimes time spend is all needed to
recover from any issues. Usually the cases stated that person runs after money and not
concentrate on their family which results in making the life of the family alone. Thus, in such
aspect's money cannot fulfil all the needs which is demanded by person, sometimes spending
little time with anyone is more useful in providing happiness.
Chesters (2019) criticized that in perspective of the statement related to health issues,
through having sufficient money resulting in securing the life of the people and also provide
happiness to their family members. In respect of spending the high amount for treatment
resulting in getting satisfaction regarding enjoying the happiness for longer way. As the anxiety
of the person arise regarding not having sufficient money to avail the higher level of treatment.
Thus, in such aspects they not happy with their financial status or income regarding managing
the health (Frey and Stutzer, 2018). In such aspects, money can provide happiness to them in
respect of purchasing the affordable treatment for improving health conditions.
Wang, Cheng and Smyth (2019) highlights the matters that money can provide happiness,
if they are spent or invested in right manner. As in respect of buying the experiences in respect of
conducting the trips with friends and also plan to travel the world or visit to the most
adventurous spot. The planning makes the person happy and if it is initiated, then it results in
building the memorable one. Thus, in such manner the role of money is important regarding
building memoires and creating vast experiences through spending money.
Richards (2016) on the other hand it is not necessary that the trips with friends by
spending money bring happiness. As every person had not that capability to spend money in
planning for trips. Sometimes they demanded that spending time at home or cooking with friends
is more sufficient to create memories and being happy. In these aspects the money cannot buy
the happiness as they can plan the short trips or outing with their friends which not require to
spent money on but require the friends which can initiated such planning in better way.
According to McKenna (2017) charity is one perspective which can bring happiness to
person even if they don't have money. Charity can be done through either donating clothes or any
other useful things which can fulfil the needs of the people. Sometimes happiness can also be
provided through making the best things out of waste or any handy things which is made from

the utensils available at home. Through this manner, happiness can be given to loved ones
regarding providing things which they made by themselves.
Matz, Gladstone and Stillwell (2016) examined that people nowadays judges the gifts
through its value or mainly prefer to give cash which makes them happy. Thus, the home made
things, they mainly kept for shorter time period but if they get cash, they invested in many
policies to get good returns. In such aspects they feel that money can bring happiness to them
and also stable their life and status in better way (Macchia, Plagnol and Powdthavee, 2019). But
happiness can be retained for longer way, if the accurate budgets is set regarding undertaking the
investment scheme and also the purchasing power to make the home innovative and motivated to
provide positive vibes.
Aknin, Wiwad and Hanniball (2018) stated that it is not necessary that money can buy
happiness but money is the major aspects which make the life of the person busier and sorted
regarding setting the priorities of their life. But the views of the aged people are same and cannot
be changed regarding the importance of money. Thus, money is needed to manage the life in
better way so that they can fulfil all the needs which results in bringing happiness to them.
CONCLUSION
From the above study, the report concludes the matters relating to examining the
importance of money or not which results in bringing happiness to person. As happiness is such
matters which arises from comforts or content or also the things which they can easily avail. In
respect of youth, they get the happiness through spending money on planning trips or carrying
high level of parties which bring happiness to them. But for the point of view of aged people,
they still feel that happiness can only be pertained through getting love. If there is love and
bound between the family and friends, the life can be easily passed through having adequate
happiness. In this report, it also concludes with the matters relating to having different judgement
of authors regarding explaining the issues. Most of the authors presented their reviews and
judgement in positive way but few authors reflect the judgement in negative way regarding not
carrying money is priority to get happiness.
It is also concludes from the above discussion, that most of the reviews are in favour of
the issues that money can bring happiness to person life and also they can stable their life and
family through providing the basic amenities. This is one of the most demanding trends which is
mainly preferred by person in respect of managing their life in better way. They said that the

money helped to purchase anything from the market and from others. This has made us more
happy and effective for collecting happiness. As per author, money can buy happiness because
spending money can and in fact increase happinesses. This has spends in a way which has jibes
with the personality. This study has related to the participant's satisfaction with their purchases in
relations to their personality. This has very important and effective for managing happiness in
proper and in effective manner which has helped to concluded properly for working. This has
considered who you are when they make a purchase and which could make all the differences
within the working ability to managed work.
REFLECTION
In the group work we have discussed the “can money buy you happiness”. This has
discussed by collecting various views and ideas of authors for understand in better and effective
manner. The group work has effectively done with the higher contribution of every group
member. With the help of this we have learned and developed various skills and knowledges
which have effective and valuable for us in perfect future. I have facing various problems for
collecting data and view points of authors as well as planning about the topic and responsibilities
allocation to other. For that we have used Belbin team role framework which has helped to us for
dividing proper work to each one. As per this theory, team worker decide to allocate work to
each and every team member in effective manner (Körkkö, Kyrö-Ämmälä and Turunen, 2016).
Team worker sets the goals and objectives for team which are follows by me and team to
complete the tasks. I have very confused about collecting information for project in that
resource's investigator help us for collecting authentic information. This help to me for improve
my research skills as well as knows about referencing and avoiding plagiarism from my work.
I learned that in the team work coordination with team member very important for
completing effective and valuable role. With the help of this, I have made coordination skills
effective with this group work. This help to me for improve time management because as per the
work division I have to complete my work on time. During the work we have faced one problem
which was not solved properly. In that planner provide solution of this work in very creative in
unconventional way. I have developed by problem solving skill and critical thinking skills. With
the help of this, my critical thinking and problem solving skills solved in proper and effective
manner. I am the monitor evaluator of my team, and I am evaluated all team and provide logical
answer about the topic by collecting practical work. Implementer of our team have planned a

workable strategy and carry it out as efficiently as process for working in proper manner. At the
end of the project and report most effective work which completed with our completer finisher.
They have polish our work and find the errors from work and provide guidances to solve and
improve. Through that I have developed and improved my creative and innovative skills for
completing effective work with some innovation which has help to present work in front of
whole.
With the help of this project and group work, my confidence level for working is
developed. Group work on this topic has provided various opportunity for improve group work
and presentation skills to making proper contribution in group work. Through that I have know
about the topic and creates various facilities for others (Cottrell, 2017). My reading and notes
making skill is better through that I have guide to others for making notes and tips for reading
books and journals. This make me happy because my notes and working abilities have liked by
every one during the group work. I improved my presentation skill in front of every one as well
as in the report like formatting, creativeness and other planning for work. Cottrell sees personal
development planning as confluences of personal improvement, which is greater academic
performance and making effective planning for achieving goals of group work and task by
completing in effective manner. We have learned through team member because they have
provided proper guidance for working planning and managing work. I have responded to new
task by accepting this task and collecting guidance about task which resources investigator. In
that I have needed for performing better and effective by collecting proper results and outcome.

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.
Calvo, R. and Cheung, F., 2018. Does money buy immigrant happiness?. Journal of Happiness
Studies. 19(6). pp.1657-1672.
Chesters, J., 2019. Does Money Buy Happiness? Associations Between Family Wealth and
Levels of Wellbeing of Young Australians. In Wealth (s) and Subjective Well-Being. (pp.
183-198). Springer, Cham.
Cottrell, S., 2017. Critical thinking skills: Effective analysis, argument and reflection. Macmillan
International Higher Education.
Dube, S. and Dube, M., 2017. Basics first: Let money buy happiness and a central store that
provides essentials for all. John Hunt Publishing.
Frey, B.S. and Stutzer, A., 2018. Economics of happiness. Springer International Publishing.
Haworth, J., 2017. Enjoyment and happiness. In The Changing Nature of Happiness. (pp. 31-49).
Palgrave Macmillan, Cham.
Körkkö, M., Kyrö-Ämmälä, O. and Turunen, T., 2016. Professional development through
reflection in teacher education. Teaching and Teacher Education. 55. pp.198-206.
Macchia, L., Plagnol, A. C. and Powdthavee, N., 2019. Buying happiness in an unequal world:
Rank of income more strongly predicts well-being in more unequal
countries. Personality and Social Psychology Bulletin. p.0146167219877413.
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.
McKenna, P., 2017. I can make you happy. Random House.
Nicholls, R., 2017. 15 Minutes to Happiness: Easy, Everyday Exercises to Help You be the Best
You Can be. Bonnier Publishing Ltd..
Richards, L., 2016. For whom money matters less: social connectedness as a resilience resource
in the UK. Social indicators research. 125(2). pp.509-535.
Tambyah, S. K. and Tan, S. J., 2018. Happiness, wellbeing and society: What matters for
Singaporeans. Routledge.
Wang, H., Cheng, Z. and Smyth, R., 2019. Consumption and happiness. The Journal of
Development Studies. 55(1). pp.120-136.
Online
Can money really buy you happiness?. 2020. Online. Available through:
<https://www.telegraph.co.uk/tv/rich-house-poor-house/can-money-buy-you-happiness/>.