Individual Essay on Money and Happiness: Research and Analysis

This individual essay explores the complex relationship between money and happiness. The essay begins with an introduction discussing how individuals prioritize happiness and the influence of regional factors. Task 1 involves research on the question of whether money can buy happiness, present...Read More

Individual Essay

Table of Contents
INTRODUCTION ...............................................................................................................................3
MAIN BODY ......................................................................................................................................3
TASK 1 ................................................................................................................................................3
Conduct research on Can money buy happiness? ...........................................................................3
TASK 2 ................................................................................................................................................5
Present personal views on conducted research with evidence and discuss your point of views on
individual essay................................................................................................................................5
CONCLUSION....................................................................................................................................7
REFERENCES.....................................................................................................................................8
Books & Journal:.............................................................................................................................8

INTRODUCTION
` Every individual have different priorities and accordingly they measures their level of
happiness. It is necessary to analyse one's or self-happiness factors so that focused in maintained on
both professional as well as personal life. From social research, it is seen that on the basis of region/
states of living, person level of happiness rely on (Rigoni, 2016). Conducted research is carried out
to examine whether money is important or not. This essay is being carried out on the topic can buy
happiness. With different perspectives & heterogeneous characteristics of every individual it is
difficult to analyse the factors which motivates happiness. This report is divided into two tasks in
which can money buy happiness and then evidence as well as views over the topic is discussed.
Moreover, Kolb's Framework is explained below to understand concept effectively. This report
gives a brief knowledge about individual intensity to achieve happiness.
MAIN BODY
TASK 1
Conduct research on Can money buy happiness?
In today's modern and fast moving world, everyone wants to grow as well as develop their
own life by achieving success. It is often seen that gap between privileged & non privileged have
different stereotypes over the money. The social circle between these two is widening & is also
changing their needs & demands. It is being examined that how income of person has deep impact
on their degree of happiness. According to MP Dunleave, she states that yes money can buy
happiness by different ways how a person is using it (Jacoud, 2017). Some enjoy investing of
money on shares & whereas some like to spend on their own. To live a prosper life, it is important
to earn money so that individual is able to have access to shelter, clothes, foods etc.
During my professional career, I asked this question to my colleagues & most of them were
in favour of the topic & rest were against it because they find their happiness in other things. In my
experience, without money it is difficult to live in peaceful manner. As for example- during my idle
time I liked to invest my money in shares & this gives me joy and when profit is earned it gives me
I can buy things with my level of priority needs. The social factors are decides person's reason to be
happy. According to me, I think that both external & internal satisfaction could be achieved, when
there is presence of money in bank account. It is being concluded that on the basis of level of
income of individual & family, the degree to which one can be happy is determined. Thus, at least
49% are happier from family income. Therefore, a person also gets motivated when money is
received. There are many social factors which shows that money buy happiness which are
discussed below-

Stress- It is a factor which specifies that when money is earned by person there is stress is
managed in a appropriate manner. Most of reason for stress is that, people are unemployed at
higher scale. When workers gain wages, they are able to have live their life as it provides them with
necessities and basic needs such as shelter, water, food etc. Stress is necessary to be managed so
that work is carried out effectively.
Employment- It is another factor which shows that when income is earned through
employment, it is easier to measure person happiness scale which shows that they are able to fulfil
their basic needs and demands. This increases their reason to remain happy in life. Employment is
necessary through which income is earned by person. It leads to fulfilling person's personal
demands.
Thus, it is being analysed that above mentioned factors depicts that when enough money
available all wants, demands and needs can be fulfilled at larger scale. Also, motivation is person
gets motivated as well as morale increases.
I have seen that pursuit of happiness is crucial to be examined so that decision making can
be related to it can be carried out properly. When I was doing my masters, there were many things
for which needed money like to afford my education, to purchase clothes, etc. To avail these, I
required income for which I gained through doing part time job. This enhanced my pursuit level of
happiness Therefore, it is necessary to analysed that these both are important part of life which are
required to be accessed by individual. People have different views according to which they decide
what can increase their happiness. Comparing over the issue can be done by following example-
According to MP Dunleavey, she says that money has the power to buy happiness whereas
according to Barnett & Stephen they have shown in their book “Money can't buy happiness” that
there are other ways which actually buy happiness (Dunleavey, 2017). As they reflects that by
earning income, only desired or needs are satisfied up to some extent. Both the authors have
different views on basis of which they have heterogeneous traits over their degree to remain happy.
Further, issue which have been debated, states my position that I agree to topic which has been
undertaken, rationale is that in my past reflections I have analysed that without earning wages,
income it was difficult for me to complete my masters. I know the importance of money as it is
essential for living in this dynamic corporate and social world.
So, it is being seen that a person degree to remain happy depends upon money or income.
Also, from personal reflections the reason for being happy is also explained which depicts that both
happiness as well as income are dependent upon each other (McIntyre, 2018).

TASK 2
Present personal views on conducted research with evidence and discuss your point of views on
individual essay
According to this conducted research, it has been examined that view on reason to remain
happy are different from every person. To fulfil one's own basic needs it is crucial to earn income.
Without use of this, it helps to achieve goals & support which are related to several elements like
education, family, health etc. Also, it is crucial to be aware about up to what extent one's happiness
could be achieved. For evidence, in my past experiences I used to do part time jobs to earn some
income for completion of my education. I was happy that I am responsible enough to pay for my
own studies. At this level of point, my degree to remain happy was high. Then, in this individual
essay I investigated that comparison over issue is being done on basis Authors mindset in regards to
remain happy. Furthermore, my point of view on topic is that it is true because it is not possible to
achieve success or goals if money is not present. It specifies that it is crucial to analyse that
conducted research is time consuming, so to carry out this effectively Kolb's model is explained in
brief (Kiconco, 2020).
The individual essay which is being carried out gives detailed understanding of
importance of money in one's life. It assist in clearly specifying what analysing factors are crucial
for achieving one's happy life. Moreover, it motivates me to accomplish my own objectives with
use of money.
Skills needed
Communication skills- To carry out the project appropriately, I used my communication
skills because it assist me to communicate to other people to make them understand my level of
experience.
Critical thinking- Another one is critical thinking which was used by me revise my past
reflections on the basis of which I used models to gain clear mind set.
Problems faced during individual essay-
Limited access to past experiences- This project is based on reflective way so it was
necessary to clearly have focus on past situations but It was not possible to revise every situations
or events properly.
Kolb's Framework
It is framework which depicts the detailed theoretical knowledge of own experiences &

when these stages are viewed new experiences is formed (Posel, 2016). With deep analysis of this
mode, it is easier to understand undertaken topic. It is time consuming process but is essential to be
carried out.
So, this framework involves several stages which are discussed below-
 Concrete experience- It is first stage of reflecting cycle which states that person learn from
its own experiences. It shows that it can be bad or good depending upon individual traits or
situations. For example- in my past reflections I have examined that with help of money I
was able to complete my masters & other useful things were achieved. In context of learner,
they observe their reflections with clear mind set so that these are analysed effectively
(Gatina, 2016).
 Reflective observation- Then comes the reflective observation, in which it shows that by
observing others decisions are made. It also states that judgement is to be made only after
observing others properly. Therefore, in context of my observation from the situations I
have analysed that I am in favour of undertaken concept as for example- in my past
experiences there came a situation when observation was made about that money is
important factor for me such as when I was doing part time job during my education which
makes me happy because I was doing it by my own by earning money. Then, observation
was made me during process.
 Abstract conceptualization- It reflects that learners during this aspect is modified or
develop their new ides of experience or existing one (Muresan, 2019). At this aspect, it
reflects that conclusions is being drawn by learner after modifying experience. It is
important because it help in using past experience in effective manner.
 Active experimentation- It is aspect which reflects that experiences & situations are re-
analysed so that they are applied in current situation or practical life. Through this, learner
make assures that experiences are used as well as applied in appropriate manner. Active

experimentation is crucial aspect because it assist in using of new ideas into experienced
situations. I applied my experiences in my practical life as I earn and pay for my own living
as well as invest them my money to earn more. Therefore, active experimentation guides
learner to improve their critical thinking skills through which decisions are carried out
appropriately.
After a brief examining of above matter, it is observed that this model is crucial to be
focused which assist in deep understanding of past reflections. Furthermore, personal point of view
is explained which shows that impact of money is deep on my own experience. Decision making
process is needed to be done in such a way so that problems or issues are viewed appropriately.
Also, the explained stages are necessary to be appropriately examined. These are beneficial for
learner experiencing cycle. It is continuous process & which occur again and again.

CONCLUSION
After analysing the above individual essay on topic can money can buy happiness, it is seen
that it people with heterogeneous mindset relates their extend of being happy on basis of their own
priority scale. So, discussions have been made about social factors showing reason of importance
of money to remain happy, personal experiences, comparison of over issue debated and evidence of
conducted, own point of view on topic and Kolb' Framework. Thus, it is crucial to understand this
research so that result & concept is being understood properly. The research help in access of
information regarding identification of individual needs or demands. So, with deep analysis
decisions are made appropriately.

REFERENCES
Books & Journal:
Rigoni, 2016. Retaining employees: How much does money matter?.Gallup Business Journal.
Jacoud, 2017. Why is money important in Jean-Baptiste Say's analysis?.The European Journal of
the History of Economic Thought,24(1), pp.58-79.
Strother, 2018. When Making Money is More Important Than Saving Lives: Revisiting the Ford
Pinto Case.Journal of International & Interdisciplinary Business Research,5(1), pp.166-181.
Benatar, 2018. Learning from the past: reflections on recently completed MG trials.Annals of the
New York Academy of Sciences,1412(1), p.5.
Relethford, 2018.Reflections of our past: how human history is revealed in our genes. Routledge.
Dunleavey, 2017. A trillion-dollar question: Why don’t more women run mutual funds.New York
Times, (January 13).
Kiconco, 2020. Learning mobile money in social networks: Comparing a rural and urban region in
Uganda.Computers in Human Behavior,103, pp.214-225.
Posel, 2016. Measured as poor versus feeling poor: Comparing money-metric and subjective
poverty rates in South Africa.Journal of Human Development and Capabilities,17(1), pp.55-73.
Muresan, 2019. Can money buy happiness? Evidence for European Countries.Applied Research in
Quality of Life, pp.1-18.
Gatina, 2016. Does money buy happiness? Financial and general well-being of immigrants in
Australia.Journal of Behavioral and Experimental Economics,63, pp.91-105.
GÜNEŞ, 2017. An experimental study about the application of Kolb's learning cycle on biology
lesson.Kastamonu Education Journal,25(5).
McIntyre, 2018. Operationalizing Kolb’s Experiential Learning Cycle.The Handbook of
Communication Training: A Best Practices Framework for Assessing and Developing
Competence.