Money's Influence on Happiness: A Psychological Analysis and Insight

This essay delves into the complex relationship between money and happiness, examining whether financial resources can truly buy contentment. It references studies suggesting that while money can fulfill basic needs and reduce loneliness, it does not guarantee happiness. The author argues that material possessions and the pursuit of wealth can sometimes lead to unhappiness, while experiences and meaningful connections often contribute to a greater sense of fulfillment. The essay explores how an overemphasis on earning money can detract from activities that bring joy and fulfillment, and concludes that happiness is an emotion and not something that can be purchased. The essay emphasizes that the way money is used is crucial, and that greed and desperation for money can have negative consequences on an individual's well-being.

Money cant buy happiness

TABLE OF CONTENTS
REFERENCES................................................................................................................................3

In accordance to the Cornell, B., (2015), it has been stated that money is counted as the
most crucial thing in our daily lives, next to eating food, to live in the home and the ways to get
from the here to there in consideration with all the things. For fulfilling all such needs, money
plays the an important role but I believe that for the being happy an individual need to have
money.
Gilovich, Kumar and Jampol, (2015), had suggested that after the society and social
association, interrelationship between an income and the well-being is considered as one of the
robust measure in respect of analysing happiness. Money does not shield us from the daily
stresses but provides for satisfying the most basic psychological needs that indicates human
connection. The higher the level of income, it seems to be less likely in experiencing the
loneliness.
As per the Mitchell and Gengler, (2019), review it has been seen that the claim which is
been made that money and economic growth has a very little effect on the happiness. Only
earning income is not considered as the best and the most suitable indicator in respect
maintaining material living standards. Therefore, earning money does not provides for love,
affection and peaceful mind but it facilitates stress in the minds of the people as in order to earn a
good sum of money, hard work is necessary.
It has indicated that there are many reasons which shows that money can't buy for
happiness as purchasing too much of the material goods could make an individual unhappy but
spending the money on living with an experience facilitates more and more happiness as it
makes a person feels more connected with the other people.
Another reason is depicted as buying the ream home seems to be different from living the
dream life within that money which means that owing the house contains several benefits like
having more and more space for the friends and the family but it played a very small part in
happiness of an individual. For being happy it is important to emphasize on the ways for utilizing
the home that makes an individual feel as fulfilled instead of achieving high level of social status
within the society.
In some situations, an individual might become as obsessed in making the money but he
or she doesn't have time for using it for gaining happy experiences (Tang and et.al., 2018). With
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earning the money, people tend to forget for making time for themselves and involving them in
the activities that creates entertainment and makes the people more and more happy.
In my opinion and observation, I had seen many American Family who are not rich but is
not counted as poor also. The amount that I had seen was considered as enough in making myself
happy as because I did not struggled with any of the thing such as other necessities and the food.
Thus, money might be a thing that makes oneself happy but its not the point that it could buy for
happiness. Being or remain happy is seen as emotion which is something that is been feel by the
person and not something that he or she could buy it as because feeling are priceless and it
cannot be bought in exchange of the money.
I think that money could not buy for happiness and in some or the other way, sometimes
money could consume and worsen the life of the people in a negative way which in turn does
not make them happy. This means that some people are seen as desperate in terms of earning
money and due to this they opt for doing any kind of the work like robbing and hurting someone
which consumes the life of an individual as he might be thrown in the jail. However, on the other
side it has been reflected that in case if the person is not been desperate for the money but
completely opposite, which means that they are having lot of money but do not have knowledge
regarding using it then in such cases they become more and more greedy. This result in making
their entire life all about the money and thus consuming it in their obsession for wanting it more
and more.
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REFERENCES
Books and Journals
Cornell, B., 2015. Perceptions of Happiness and Its Determinants An Intergenerational Study of
What People Think about Money and Happiness.
Gilovich, T., Kumar, A. and Jampol, L., 2015. A wonderful life: Experiential consumption and
the pursuit of happiness. Journal of Consumer Psychology. 25(1). pp.152-165.
Mitchell, J. S. and Gengler, J. J., 2019. What money can’t buy: Wealth, inequality, and
economic satisfaction in the rentier state. Political Research Quarterly. 72(1). pp.75-89.
Tang, N. and et.al., 2018. Monetary wisdom: How do investors use love of money to frame
stock volatility and enhance stock happiness?. Journal of Happiness Studies. 19(6).
pp.1831-1862.
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