Money and Happiness

by Patrick Liew on August 20, 2019

Money and Happiness

As someone once said, “Money cannot guarantee you happiness but if you don’t have money, I guarantee you’ll be unhappy.”

Another wisecrack, “Those who say that you cannot buy happiness just don’t know where to shop.”

Jokes aside, it’s widely held that one’s happiness and well-being is influenced by personal income.

Research has shown that higher income-earners generally reported a higher satisfaction with life.

However, once personal income is able to support a reasonable living standard, it loses its influence on raising levels of happiness and well-being.

Another study found that when respondents were asked to take stock of their lives, “… people with more money report being a good deal more satisfied. But when asked how happy they are at the moment, people with more money are barely different than those with less.”

Interestingly, a study found that that people living in metropolitan areas generally enjoyed higher income levels but they were enjoying lower levels of happiness.

It would seem that “humans are quite understandably willing to sacrifice both happiness and life satisfaction if the price is right.”

The following are some of the factors that you can invest in so as to live a happier life.

1. Be prudent about evaluating consequences of making a purchase before making the purchase.

2. Seek wise counsel, especially from people who have experiences in the products.

3. Buy products that will improve your well-being rather than buying products just because they’re a good deal.

4. Spend more money that gives you a series of small temporary pleasures rather than money on having lesser but bigger pleasures.

5. Spend money on having positive experiences rather than on accumulating products.

6. Don’t get into unnecessary debts.

7. Donate money to charity or support a worthwhile cause rather than on yourself.

In my humble opinion, happiness is already within you, and it’s a resource that you call upon at your own free will.

Happiness is not for sale, and you don’t have to spend your money to enjoy happiness.

In other words, you can influence the levels of your own happiness.


I hope this message will find a place in your heart.

By the way, I have also recorded other reflections.

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