argumentative essay about money is the key to happiness

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Money Is The Key To Happiness

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Money is the key to happiness. Without money we are nothing. Do you agree with this statement? Thousand of years ago, the barter trade used to be a way of exchanging goods but came to an end afterwards due to the introduction of money. Since then, human society has changed rapidly. Commerce has got simpler and doing business with other countries further afield is no longer out of question. But these changes are not all which were taken into consideration. First and foremost, material possession is believed to give a guarantee of future happiness. Money do meet the basic human need for food, clothing and shelter as well as offer people with the advanced service from health care to cosmetic surgery. Moreover, good financial condition guarantee a promising future for people and their relatives. Consequently, many parents slog at work in hope to provide their offspring with excellent education and great comfort. Once people can do have a decent life and ensure the long-term stability in the future, they are inevitably filled with happiness.

On the contrary, the poor, who always live from hand to mouth, are completely isolated from modern society. They are engaged in a desperate struggle with numerous life-and-death difficulties to make ends meet and support their families. For example, in some underdeveloped countries in Africa, the refugees are usually seen living on many streets and getting no access to medical care or primary education for kids. Food and clothing are of their great concern and a happy life seems to be out of reach. All in all, long-term happiness relies on stable finacial condition, which is by no means obtained without money. On the other hand, money is not only something to obtain but it also generate the necessary motivation for every individual in their way of life. For example, many parents try to work arduously to supply their children with good education. When they graduate from the university, they may expect to ante up much money to support their beloved parents and run their own business.

The Essay on Good Country People 2

This essay will delve into the life of Flannery O’Connor not only as it is told biographically but as her life relates and is reiterated in the stories she writes. By using O’Connor’s fiction as a backdrop to her life, the essay will focus on the bizarre characterization of the protagonists of O’Connor’s stories as much as O’Connor herself was a very unique person. Thus, O’Connor will be ...

As a result, money is perceived not only a goal but also a powerful incentive which impels people to face any difficulties with great bravery. From then, they may grasp their own meanings in the society and enjoy their lives happily. In addition, money can bring happiness to other people as well. Nowadays, many remote parts of the world are still suffering from terrible natural disasters. For that reason, the monetary assistance from the international community is inevitably invaluable to them. This, finally, may help relieve their suffering partly as well as show them a ray of hope for a better life.

Nevertheless, there is a grain of truth in the assumption that money sows seeds of the unhappiness. In such a materialistic society, whether our lives are comfortable depends too much on money and sometimes, the attempt to make ends meet exhausts people utterly. Moreover, they prone to getting materialistic and even too self-absorbed to spend time with their famlies, which ultimately culminates in their bitter regret someday. However, money just fulfills their function as a supportive factor contributing to our full happiness and whether it does harm to people is dependent completely of how it is used. Overall, money supply the initial stability to lead a happy life and help people enjoy it immensely . However, be careful or the misunderstanding of its function possibly results in unexpected consequences.

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Does More Money Really Make Us More Happy?

• Elizabeth Dunn
• Chris Courtney

A big paycheck won’t necessarily bring you joy

Although some studies show that wealthier people tend to be happier, prioritizing money over time can actually have the opposite effect.

• But even having just a little bit of extra cash in your savings account ($500), can increase your life satisfaction. So how can you keep more cash on hand?
• Ask yourself: What do I buy that isn’t essential for my survival? Is the expense genuinely contributing to my happiness? If the answer to the second question is no, try taking a break from those expenses.
• Other research shows there are specific ways to spend your money to promote happiness, such as spending on experiences, buying time, and investing in others.
• Spending choices that promote happiness are also dependent on individual personalities, and future research may provide more individualized advice to help you get the most happiness from your money.

Where your work meets your life. See more from Ascend here .

How often have you willingly sacrificed your free time to make more money? You’re not alone. But new research suggests that prioritizing money over time may actually undermine our happiness.

• ED Elizabeth Dunn is a professor of psychology at the University of British Columbia and Chief Science Officer of Happy Money, a financial technology company with a mission to help borrowers become savers. She is also co-author of “ Happy Money: The Science of Happier Spending ” with Dr. Michael Norton. Her TED2019 talk on money and happiness was selected as one of the top 10 talks of the year by TED.
• CC Chris Courtney is the VP of Science at Happy Money. He utilizes his background in cognitive neuroscience, human-computer interaction, and machine learning to drive personalization and engagement in products designed to empower people to take control of their financial lives. His team is focused on creating innovative ways to provide more inclusionary financial services, while building tools to promote financial and psychological well-being and success.

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Argumentative Essay about Money and Happiness

A common assumption in the media and everywhere else is that being rich means that one is happy. The debate on money and happiness has been going on for a while. There is a belief that the more money one has, the more comfortable he/she becomes. With money, one can buy the basic needs. Though money can satisfy our physical needs, we need to understand that happiness is not material. Instead, satisfaction is a more profound natural feeling that comes out of a person and is not necessarily dependent on money. What we need to understand, therefore, is that money does not bring happiness as many people would imagine.

For long, people have not understood that money can only help a person in making individual choices. Having large amounts of money does not necessarily lead to happiness. The belief that being rich is having a lot of money is often misconstrued (Badiou 75). Given a chance, it is evident that most people are likely to choose riches. However, we should ask ourselves if money can make others to love us. The desire of human beings is the need to love and be loved in return. It is the feeling that we possess that should be of importance compared to the financial status of an individual. Regardless of the amount of money that one possesses, happiness cannot be bought. Cases of pretense to get monetary gains from other people have been on the rise. People have shown superficial love to others to satisfy their selfish interest. In most cases, relationships of this kind do not end up in the best way. Therefore, the perception that riches bring happiness in a relationship should not be taken seriously.

Riches cannot be considered to be a source of happiness. Riches can enable a person to have access to more resources and luxuries in life. However, the excitement that is brought about by monetary gains temporary. In some instances, you might find people with riches indulging in precarious activities as a way of self-fulfillment. It explains that wealth only helps us to focus on wants instead of needs. Happiness is one of the requirements in n life which can only be fulfilled if one has peace of mind (Badiou 90). The misconception we have that money is the source of happiness ought to change if we are to experience the real meaning of happiness. Contrary to the popular belief that money can offer us happiness, the contrary has proven to be true. People with less money do not have many luxuries in life as rich.

In relationships, riches cannot guarantee a person the happiness they need. It is the personality of a person that matters. A person may be wealthy, but if his/her character is terrible, people may not want to be associated with them. A person with a better personality is likely to attract friends or lovers, who can, in turn, offer them the gratification that they may need thus leading to happiness. People with evil personalities, on the other hand, are likely to be shunned by other people. Few individuals can wish to be around a person with a lousy personality. Even when the person has money, the few friends who hang around them are likely to be there because of money.

Similar sentiments are evident when it comes to love (Pischke 120). Money cannot buy happiness or make people love you. Buying the feelings of another person is impossible. It is not strange to married people who do not love each other. They might be in the marriage because of monetary gains. In most cases, these marriages are likely to end up in catastrophe. In many relationships, it is the valuable time that a person spends with his/ her family that brings about happiness. Money can be a fuelling factor in the strengthening of a relationship but it ought not to be seen as the source of happiness. In all situations, the family has to be put in the front. The time an individual spends with his/her family is crucial I comparison to the amount of money that a person has. Though rich people think that money is a source of happiness, this notion is often misconstrued. For instance, a person can use the money to buy gifts and other presents for another but what matters in a relationship is the time and affection that people share. It is the time spent together in a relationship that gives people a sense of identity and selfhood.

Money is crucial since it enables people to cater for their primary needs. However, money should not form the basic underlying principle for our source of happiness. It is the reason why I believe that contrary to the belief by many people that money brings joy, happiness is not long lasting and can only be for a temporary period (Burke 100). Until we realize that money is just a source of temporary happiness, then we are likely to suffer heartbreaks. True happiness can only come from within a person. People who idolize money are likely to be frustrated in the long run. They are likely to focus more on looking for money and forget that their loved ones expect to be shown love. Money can be a cause of stress and frustrations in any relationship. People who have money often think that their money can buy them any form of happiness. However, in most cases, they end up with frustrations especially when they are rejected. Instead of using the money to gain happiness in a relationship, a person can try to adopt other means. For instance, developing hobbies that bring fun and relaxation can be a way of bringing happiness.

We often torture ourselves looking for happiness in the wrong places, yet there are better ways of creating our happiness. For instance, having time to relax is the best solution for a healthy life. We ought to learn therefore that though money is necessary, it should not be the definition of happiness in our lives. Wealthy people put emphasis more on their luxuries compared to the attention they give to their necessities. However, this perception ought to change since material things are likely to fade off over time. People also tend to look for other things that can get them occupied. In life, we should focus more on better ways of gaining happiness which is a primary need for every person.

Money has also been associated more with misery more than bringing happiness. While searching for more money, people are likely to compete against each other (Burke 150). As a result, they may end up looking for options of making more money and lose interest in the things that satisfy them. When a person is focused on searching for money he/she rarely finds time to do other things that can make them happy. It is because they usually spend all their time working and rarely have time to relax. Good health symbolizes happiness. However, most of us think that having more money is a guarantee that one can cover their health schemes. Though money can cater to good medical covers and pay for proper medical services, it is not a guarantee of happiness and good health for an individual.

It is clear that even if a person has money, the money cannot be a cure for certain terminal illnesses. Health is more important than money. One might have a lot of money, but if he or she is not healthy, then happiness remains an illusion. Therefore, good health is better than having lots of money in the banks. It is high time that people realize that money is not a source of happiness and look for other ways of finding happiness.

It is essential to notice that money can only contribute to the happiness of meeting the basic needs. A person’s level of income does not directly determine his/ her level of happiness. It is the way that the individual can channel the earnings to purposes that can probably bring satisfaction and happiness. People who have a lot of money have been known to get their comfort and happiness by giving to charity. There are satisfaction and gratuity in the act of giving. Having vast amounts of money does not guarantee happiness, but it is the deeds of an individual that matter.

Findings have shown that having large quantities of money does not guarantee happiness. Having vast social networks can be a better source of satisfaction. Strong social networks are likely to develop mutual affection among people compared to what money can do (Berk 78). Earning a lot of money can be significant. Equally essential however is having people who care and whose company one can enjoy. The satisfaction that is brought through bonding has longer lasting effects than what money can do for a person.

There have been cases of people who have a lot of money but lack happiness. When searching for money, most of us forget that we have people who love and care for us. The focus is normally on how to gain more money which in the end makes people to even lose their families. In some instances, rich people have committed suicide after missing people who are ready to bond with them (Burke 85). It is therefore important to realize that even though money is an essential part of our lives, it cannot give us all the satisfaction and happiness that we need.

Works Cited Badiou, Alain et al. Happiness. Bloomsbury Academic, 2019. Burke, Elaine A. “What is the Key to Happiness? Love or Money?” Psyccritiques, vol. 59, no. 25, 2014. Portico, doi: 10.1037/a0037105. Berk, Kiki. “Does Money Make Us Happy? The Prospects and Problems of Happiness Research in Economics”. Journal of Happiness Studies, vol. 19, no. 4, 2017, pp. 1241-1245. Springer Nature, doi: 10.1007/s10902-017-9857-y. Pischke, Jörn-Steffen. Money and Happiness. National Bureau of Economic Research, 2011.

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Can Money Really Buy Happiness?

Money and happiness are related—but not in the way you think..

Updated November 10, 2023 | Reviewed by Chloe Williams

• More money is linked to increased happiness, some research shows.
• People who won the lottery have greater life satisfaction, even years later.
• Wealth is not associated with happiness globally; non-material things are more likely to predict wellbeing.
• Money, in and of itself, cannot buy happiness, but it can provide a means to the things we value in life.

Money is a big part of our lives, our identities, and perhaps our well-being. Sometimes, it can feel like your happiness hinges on how much cash is in your bank account. Have you ever thought to yourself, “If only I could increase my salary by 12 percent, I’d feel better”? How about, “I wish I had an inheritance. How easier life would be!” I don’t blame you — I’ve had the same thoughts many times.

But what does psychological research say about the age-old question: Can money really buy happiness? Let’s take a brutally honest exploration of how money and happiness are (and aren’t) related. (Spoiler alert: I’ve got bad news, good news, and lots of caveats.)

Higher earners are generally happier

Over 10 years ago, a study based on Gallup Poll data on 1,000 people made a big headline in the news. It found that people with higher incomes report being happier... but only up to an annual income of $75,000 (equivalent to about $90,000 today). After this point, a high emotional well-being wasn’t directly correlated to more money. This seemed to show that once a persons’ basic (and some “advanced”) needs are comfortably met, more money isn’t necessary for well-being.

But a new 2021 study of over one million participants found that there’s no such thing as an inflection point where more money doesn’t equal more happiness, at least not up to an annual salary of $500,000. In this study, participants’ well-being was measured in more detail. Instead of being asked to remember how well they felt in the past week, month, or year, they were asked how they felt right now in the moment. And based on this real-time assessment, very high earners were feeling great.

Similarly, a Swedish study on lottery winners found that even after years, people who won the lottery had greater life satisfaction, mental health, and were more prepared to face misfortune like divorce , illness, and being alone than regular folks who didn’t win the lottery. It’s almost as if having a pile of money made those things less difficult to cope with for the winners.

Evaluative vs. experienced well-being

At this point, it's important to suss out what researchers actually mean by "happiness." There are two major types of well-being psychologists measure: evaluative and experienced. Evaluative well-being refers to your answer to, “How do you think your life is going?” It’s what you think about your life. Experienced well-being, however, is your answer to, “What emotions are you feeling from day to day, and in what proportions?” It is your actual experience of positive and negative emotions.

In both of these studies — the one that found the happiness curve to flatten after $75,000 and the one that didn't — the researchers were focusing on experienced well-being. That means there's a disagreement in the research about whether day-to-day experiences of positive emotions really increase with higher and higher incomes, without limit. Which study is more accurate? Well, the 2021 study surveyed many more people, so it has the advantage of being more representative. However, there is a big caveat...

Material wealth is not associated with happiness everywhere in the world

If you’re not a very high earner, you may be feeling a bit irritated right now. How unfair that the rest of us can’t even comfort ourselves with the idea that millionaires must be sad in their giant mansions!

But not so fast.

Yes, in the large million-person study, experienced well-being (aka, happiness) did continually increase with higher income. But this study only included people in the United States. It wouldn't be a stretch to say that our culture is quite materialistic, more so than other countries, and income level plays a huge role in our lifestyle.

Another study of Mayan people in a poor, rural region of Yucatan, Mexico, did not find the level of wealth to be related to happiness, which the participants had high levels of overall. Separately, a Gallup World Poll study of people from many countries and cultures also found that, although higher income was associated with higher life evaluation, it was non-material things that predicted experienced well-being (e.g., learning, autonomy, respect, social support).

Earned wealth generates more happiness than inherited wealth

More good news: For those of us with really big dreams of “making it” and striking it rich through talent and hard work, know that the actual process of reaching your dream will not only bring you cash but also happiness. A study of ultra-rich millionaires (net worth of at least $8,000,000) found that those who earned their wealth through work and effort got more of a happiness boost from their money than those who inherited it. So keep dreaming big and reaching for your entrepreneurial goals … as long as you’re not sacrificing your actual well-being in the pursuit.

There are different types of happiness, and wealth is better for some than others

We’ve been talking about “happiness” as if it’s one big thing. But happiness actually has many different components and flavors. Think about all the positive emotions you’ve felt — can we break them down into more specifics? How about:

• Contentment
• Gratefulness

...and that's just a short list.

It turns out that wealth may be associated with some of these categories of “happiness,” specifically self-focused positive emotions such as pride and contentment, whereas less wealthy people have more other-focused positive emotions like love and compassion.

In fact, in the Swedish lottery winners study, people’s feelings about their social well-being (with friends, family, neighbors, and society) were no different between lottery winners and regular people.

Money is a means to the things we value, not happiness itself

One major difference between lottery winners and non-winners, it turns out, is that lottery winners have more spare time. This is the thing that really makes me envious , and I would hypothesize that this is the main reason why lottery winners are more satisfied with their life.

Consider this simply: If we had the financial security to spend time on things we enjoy and value, instead of feeling pressured to generate income all the time, why wouldn’t we be happier?

This is good news. It’s a reminder that money, in and of itself, cannot literally buy happiness. It can buy time and peace of mind. It can buy security and aesthetic experiences, and the ability to be generous to your family and friends. It makes room for other things that are important in life.

In fact, the researchers in that lottery winner study used statistical approaches to benchmark how much happiness winning $100,000 brings in the short-term (less than one year) and long-term (more than five years) compared to other major life events. For better or worse, getting married and having a baby each give a bigger short-term happiness boost than winning money, but in the long run, all three of these events have the same impact.

What does this mean? We make of our wealth and our life what we will. This is especially true for the vast majority of the world made up of people struggling to meet basic needs and to rise out of insecurity. We’ve learned that being rich can boost your life satisfaction and make it easier to have positive emotions, so it’s certainly worth your effort to set goals, work hard, and move towards financial health.

But getting rich is not the only way to be happy. You can still earn health, compassion, community, love, pride, connectedness, and so much more, even if you don’t have a lot of zeros in your bank account. After all, the original definition of “wealth” referred to a person’s holistic wellness in life, which means we all have the potential to be wealthy... in body, mind, and soul.

Kahneman, D., & Deaton, A.. High income improves evaluation of life but not emotional well-being. . Proceedings of the national academy of sciences. 2010.

Killingsworth, M. A. . Experienced well-being rises with income, even above $75,000 per year .. Proceedings of the National Academy of Sciences. 2021.

Lindqvist, E., Östling, R., & Cesarini, D. . Long-run effects of lottery wealth on psychological well-being. . The Review of Economic Studies. 2020.

Guardiola, J., González‐Gómez, F., García‐Rubio, M. A., & Lendechy‐Grajales, Á.. Does higher income equal higher levels of happiness in every society? The case of the Mayan people. . International Journal of Social Welfare. 2013.

Diener, E., Ng, W., Harter, J., & Arora, R. . Wealth and happiness across the world: material prosperity predicts life evaluation, whereas psychosocial prosperity predicts positive feeling. . Journal of personality and social psychology. 2010.

Donnelly, G. E., Zheng, T., Haisley, E., & Norton, M. I.. The amount and source of millionaires’ wealth (moderately) predict their happiness . . Personality and Social Psychology Bulletin. 2018.

Piff, P. K., & Moskowitz, J. P. . Wealth, poverty, and happiness: Social class is differentially associated with positive emotions.. Emotion. 2018.

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Money, Happiness and Satisfaction With Life Essay

Money has always been known as the symbol of wealth, the key to happiness, and the backbone of livelihood. There is also a widespread opinion that money positively affects the growth of happiness. However, with this drastic growth comes a severe decline, and this is because of the human instinct to be acquisitive. The current essay discusses happiness and argues that the veritable happiness and satisfaction with life come not from money but self-actualization and positive thinking.

One of the fundamental explanations of why happiness is not about money lies in flawed human nature. In the book Leviathan , the prominent philosopher Thomas Hobbes (1651) described the state of nature where people live before the government appears and argues that every person wants to possess as many goods as possible. However, the number of goods is finite, and, therefore, people enter into the state of war of all against all in pursuit of wealth (Hobbes, 1651). Thus, it becomes apparent that even though money gives people access to numerous goods, services, pleasures, and opportunities, they are not always a synonym for joy or health.

Some people might argue that richness is a synonym for happiness because it allows one to actualize oneself through helping people in need. For example, in 2000, Bill and Melinda Gates grounded a foundation aimed at fighting inequality, poverty, and diseases all over the world (Bill & Melinda Gates Foundation, n.d.). Nonetheless, this case is rather an exception from the common rule. Novack (2008) mentions statistics provided by the Internal Revenue Service revealing that “rich are evasive when it comes to taxes” (para. 1). Indeed, richness and greed seem to be closely related. As 18th-century Scottish economist Adam Smith (1776) famously said, “it is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest” (p. 30). World War II is an amplified example of how one persons strive for money and power led to 60 million casualties all around the world. Besides, the modern case of the trade war between China and the US, initiated by the Trump administration in 2018, shows what the ruling elites are capable of destroying the lives of citizens of other countries if financial gain is at stake.

Many people believe that money is the key to happiness because money buys us tangible property such as cars, houses, and gadgets. Furthermore, money is used to pay tuition fees, electricity and water bills, purchase food and clothes, and, therefore, they are the primary means of survival. From this, one might fallaciously infer that money buys happiness. Still, one should not forget that money is incapable of purchasing the desire to learn or live. For instance, prominent actor Robin Williams, Linkin Parks singer Chester Bennington, and coal billionaire Dmitry Bosov committed suicide even though they were not poor and enjoyed fame and public acclaim. The reasons for suicide are another topic for discussion. Nonetheless, the previously mentioned examples should be used to remind us that money alone is not a guarantee of happiness, satisfaction with life, and good health. Money and fame could not prevent a person from depression, incurable illnesses, or alcohol and drug addictions. What is more, money could even stimulate the appearance of some of these problems. Thus, wealth is not a guarantee of happiness and satisfaction with life.

Finally, most people would love to get wealthy without the hard work and impossible tasks that come with it. They think that by doing so, they would never need anything from anyone ever again. From one point of view, money undoubtedly brings independence and is exempt from poverty. Even though there are ways how to earn easy money, these ways are not always legal, honest, or morally right. Without a doubt, winning a lottery is not a crime. Nonetheless, some researchers claim that money could bring self-satisfaction only if earned from hard work. The study conducted by Brickman, Coates, and Janoff-Bulman (1978) proves that lottery winners were in a better mental state before becoming wealthy without any effort. Undoubtedly, after the win, test subjects were immensely happy; however, after the lapse of time, their level of happiness equals one of the paralyzed people (Brickman et al., 1978). And this comes from the fact that with drastic growth in wealth comes a severe decline in happiness.

Taking everything into account, it is vitally important not to forget that one could find happiness in life regardless of any life circumstances. Joy and self-actualization are not about the size of income. Instead, it is about doing what one loves, having friends, staying fit and healthy, and loving and being loved. A person could be genuinely happy when looking at the shining sun, talking to parents, or reading a worthy book. The critical takeaway from the present paper is that joy with life could be accomplished by self-satisfaction and optimistically looking forward to the future without overabundance.

Works Cited

Bill & Melinda Gates foundation (n.d.). Web.

Brickman, P., Coates, D., & Janoff-Bulman, R. (1978). Lottery winners and accident victims: Is happiness relative?. Journal of personality and social psychology , 36 (8), 917-927. Web.

Hobbes, T. (1651). Leviathan . St. Pauls Church-yard.

Novack, J. (2008). Rich cheat more on taxes, new study shows. Forbes . Web.

Smith, A. (1776). The Wealth of Nations. (E. Cannan, Ed.). ElecBook Classics.

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IvyPanda. (2022, June 24). Money, Happiness and Satisfaction With Life. https://ivypanda.com/essays/money-happiness-and-satisfaction-with-life/

"Money, Happiness and Satisfaction With Life." IvyPanda , 24 June 2022, ivypanda.com/essays/money-happiness-and-satisfaction-with-life/.

IvyPanda . (2022) 'Money, Happiness and Satisfaction With Life'. 24 June.

IvyPanda . 2022. "Money, Happiness and Satisfaction With Life." June 24, 2022. https://ivypanda.com/essays/money-happiness-and-satisfaction-with-life/.

1. IvyPanda . "Money, Happiness and Satisfaction With Life." June 24, 2022. https://ivypanda.com/essays/money-happiness-and-satisfaction-with-life/.

Bibliography

IvyPanda . "Money, Happiness and Satisfaction With Life." June 24, 2022. https://ivypanda.com/essays/money-happiness-and-satisfaction-with-life/.

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Ielts exam preparation for a higher band score., ielts essay: money is an important source of happiness.

IELTS Essay Topic:

Some people like to save money because they consider it is an important source of happiness. Others believe that money should be spent as it is the way to fulfill our dreams.

Discuss both the views and give your opinion.

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Sample Answer: Money is an important factor to achieve happiness. Different people use money in different ways. There has been a considerable debate on the issue whether we should save money or spend all on our needs.

On one hand, it is believed that money should be spent on things and on our needs, because it is a major source of getting happiness in life, if we do not have money, we cannot survive in this modern world anymore. So, it is rightly said that life is like an ice-cream, so we should enjoy it before it melts. In other words, we should take benefits from each and every moment of the life. For instance, with the help of money people can easily uplift their status in the society, because every individual wants to develop his or her living standard, which in turn helps them to raise their personality in the world.

On the other hand, it is considered that, people should save money in order to secure their future. Mostly people save money for their children, because the savings will help them in their further life for their better education and basic needs, which are necessary and play a significant role in one’s life. Money is a valuable thing, because nowadays without money, it is very difficult to stand in the society. So that is why people should save money for the rainy days, because everyone goes through the ups and downs in life and who knows when we need some extra savings.

In conclusion, both aspects have their own values and that is why we should spend money within a limit- for important and basic needs, because if we spend all the money we earn, there will be no money for the better future.

[Written by – Arman Josan]

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Essay on Happiness Is More Important Than Money

Students are often asked to write an essay on Happiness Is More Important Than Money in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Happiness Is More Important Than Money

The essence of happiness.

Happiness is a feeling of joy, contentment, and well-being. It is a state of mind that people strive to achieve. Money, on the other hand, is a material possession that can buy goods and services.

Happiness vs. Money

Money can buy materialistic things, but it cannot buy happiness. Happiness comes from love, peace, and satisfaction, which are not for sale. Even the richest person can be unhappy if he lacks love and peace.

In conclusion, happiness is more important than money as it gives us the feeling of contentment, which money cannot buy.

250 Words Essay on Happiness Is More Important Than Money

The illusion of wealth.

Money, often dubbed the key to happiness, is a deeply ingrained part of our societal consciousness. However, it is not the ultimate solution to our quest for contentment. The illusion of wealth as a synonym for happiness is a misconception that fails to consider the complexity of human emotions.

The Pursuit of Happiness

Happiness is subjective, varying from person to person. It is a state of mind, a feeling of contentment and peace, and cannot be quantified or measured like money. The pursuit of happiness often involves experiences, relationships, and personal growth, none of which can be bought.

Money: A Means, Not an End

Money is undeniably important, providing us with the means to live comfortably, but it is not an end in itself. It can buy material possessions but not the joy that comes from genuine human connections, self-fulfillment, or the satisfaction of contributing positively to society.

The Value of Non-Material Wealth

Non-material wealth, such as love, friendship, health, and inner peace, often supersede the importance of financial wealth in contributing to happiness. These intangible assets provide a sense of belonging and purpose that money cannot.

In conclusion, while money can provide comfort and security, it is not a guarantee of happiness. Happiness is a complex, multifaceted emotion that goes beyond material possessions. It is the richness of our experiences, relationships, and personal growth that truly defines our happiness.

500 Words Essay on Happiness Is More Important Than Money

Introduction: the value of happiness.

Happiness, an emotional state that is often sought after, is a complex and multifaceted concept. Unlike money, a tangible and quantifiable commodity, happiness is subjective and varies from person to person. Despite the material comforts that money can provide, it is the contention of this essay that happiness holds greater importance.

Happiness and Subjective Well-being

The field of positive psychology defines happiness as a state of well-being that encompasses living a good life, one with a sense of meaning and deep satisfaction. This notion of subjective well-being is multi-dimensional, involving positive emotions, engagement, relationships, meaning, and accomplishment. Money, on the other hand, is a means to an end. It can facilitate certain aspects of well-being, such as providing for basic needs and financial security, but it is not a guarantee of happiness.

The Diminishing Returns of Wealth

Research in the field of economics and psychology illustrates the concept of diminishing marginal utility of wealth. This means that beyond a certain income level necessary for meeting basic needs and financial security, additional wealth contributes very little to overall happiness. A study by Kahneman and Deaton (2010) found that emotional well-being rises with income up to about $75,000 per year, but there is no further progress beyond that. This suggests that the pursuit of wealth beyond a certain point does not contribute to increased happiness.

Money vs. Experiential Wealth

While money can buy material possessions, it cannot buy experiences, relationships, or time – factors that significantly contribute to happiness. The value of shared experiences, personal growth, and meaningful relationships far outweighs the temporary satisfaction derived from material possessions. Moreover, the pursuit of money often comes at the expense of time, which could otherwise be spent on enriching experiences and relationships.

The Role of Happiness in Health and Longevity

Happiness has been linked to numerous health benefits, including a stronger immune system, reduced risk of chronic diseases, and increased longevity. In contrast, the pursuit of wealth can often lead to stress and work-related health issues. These findings suggest that prioritizing happiness over wealth can lead to a healthier, longer life.

Conclusion: The Superiority of Happiness

In conclusion, while money is a necessary tool for survival and comfort, it is not a definitive path to happiness. The importance of happiness lies in its ability to enrich our lives beyond material wealth, contributing to better health, meaningful relationships, and a sense of purpose. As such, it is essential to strike a balance between the pursuit of wealth and the pursuit of happiness, with the latter taking precedence. After all, happiness is not just an end in itself, but also a means to a fulfilling and meaningful life.

That’s it! I hope the essay helped you.

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Happiness Economics: Can Money Buy Happiness?

It only costs a small amount, a slight risk, with the possibility of a substantial reward.

But will it make you happy? Will it give you long-lasting happiness?

Undoubtedly, there will be a temporary peak in happiness, but will all your troubles finally fade away?

That is what we will investigate today. We explore the economics of happiness and whether money can buy happiness. In this post, we will start by broadly exploring the topic and then look at theories and substantive research findings. We’ll even have a look at previous lottery winners.

For interested readers, we will list interesting books and podcasts for further enjoyment and share a few of our own happiness resources.

Ka-ching: Let’s get rolling!

Before you continue, we thought you might like to download our three Happiness & Subjective Wellbeing Exercises for free . These detailed, science-based exercises will help you or your clients identify sources of authentic happiness and strategies to boost wellbeing.

This Article Contains

What is happiness economics, theory of the economics of happiness, can money buy happiness 5 research findings, 6 fascinating books and podcasts on the topic, resources from positivepsychology.com, a take-home message.

Happiness economics is a field of economics that recognizes happiness and wellbeing as important outcome measures, alongside measures typically used, such as employment, education, and health care.

Economics emphasizes how specific economic/financial characteristics affect our wellbeing (Easterlin, 2004).

For example, does employment result in better health and longer lifespan, among other metrics? Do people in wealthier countries have access to better education and longer life spans?

In the last few decades, there has been a shift in economics, where researchers have recognized the importance of the subjective rating of happiness as a valuable and desirable outcome that is significantly correlated with other important outcomes, such as health (Steptoe, 2019) and productivity (DiMaria et al., 2020).

Broadly, happiness is a psychological state of being, typically researched and defined using psychological methods. We often measure it using self-report measures rather than objective measures that are less vulnerable to misinterpretation and error.

Including happiness in economics has opened up an entirely new avenue of research to explore the relationship between happiness and money.

Andrew Clark (2018) illustrates the variability in the term happiness economics with the following examples:

• Happiness can be a predictor variable, influencing our decisions and behaviors.
• Happiness might be the desired outcome, so understanding how and why some people are happier than others is essential.

However, the connection between our behavior and happiness must be better understood. Even though “being happy” is a desired outcome, people still make decisions that prevent them from becoming happier. For example, why do we choose to work more if our work does not make us happier? Why are we unhappy even if our basic needs are met?

An example of how happiness can influence decision-making

Sometimes, we might choose not to maximize a monetary or financial gain but place importance on other, more subjective outcomes.

To illustrate: If faced with two jobs — one that pays well but will bring no joy and another that pays less but will bring much joy — some people would prefer to maximize their happiness over financial gain.

If this decision were evaluated using a utility framework where the only valued outcomes were practical, then the decision would seem irrational. However, this scenario suggests that psychological outcomes, such as the experience of happiness, are as crucial as other socio-economic outcomes.

Economists recognize that subjective wellbeing , or happiness, is an essential characteristic and sometimes a desirable outcome that can motivate our decision-making.

In the last few decades, economics has shifted to include happiness as a measurable and vital part of general wellbeing (Graham, 2005).

The consequence is that typical economic questions now also look at the impact of employment, finances, and other economic metrics on the subjective rating and experience of happiness at individual and country levels.

Happiness is such a vital outcome in society and economic activity that it must be involved in policy making. The subjective measure of happiness is as important as other typical measures used in economics.

Many factors can contribute to happiness. In this post, we consider the role of money. The relationship between happiness, or subjective wellbeing, and money is assumed to be positive: More money means greater happiness.

However, the relationship between money and happiness is paradoxical: More money does not guarantee happiness (for an excellent review, see Graham, 2005).

Specifically, low levels of income are correlated with unhappiness. However, as our individual wealth increases and our basic needs are met, our needs change and differ in their importance.

Initially, our happiness is affected by absolute levels of income, but at a certain threshold, we place importance on relative levels of income. Knowing how we rank and compare to other people, in terms of wealth and material possession, influences our happiness.

The relationship between wealth and happiness continues to increase, but only to a certain point; at this stage, more wealth does not guarantee more happiness (Easterlin, 1974; Diener et al., 1993).

This may be at odds with our everyday lived experience. Most of us choose to work longer hours or multiple jobs so that we make more money. However, what is the point of doing this if money does not increase our happiness? Why do we seem to think that more money will make us happier?

History of the economics of happiness

The relationship between economics and happiness originated in the early 1970s. Brickman and Campbell (1971, as cited in Brickman et al., 1978) first argued that the typical outcomes of a successful life, such as wealth or income, had no impact on individual wellbeing.

Easterlin (1974) expanded these results and showed that although wealthier people tend to be happier than poor people in the same country, the average happiness levels within a country remained unchanged even as the country’s overall wealth increased.

The inconsistent relationship between happiness and income and its sensitivity to critical income thresholds make this topic so interesting.

There is some evidence that wealthier countries are happier than others, but only when comparing the wealthy with the poor (Easterlin, 1974; Graham, 2005).

As countries become wealthier, citizens report higher happiness, but this relationship is strongest when the starting point is poverty. Above a certain income threshold, happiness no longer increases (Diener et al., 1993).

Interestingly, people tend to agree on the amount of money needed to make them happy; but beyond a certain value, there is little increase in happiness (Haesevoets et al., 2022).

Measurement challenges

Measuring happiness accurately and reliably is challenging. Researchers disagree on what happiness means.

It is not the norm in economics to measure happiness by directly asking a participant how happy they are; instead, happiness is inferred through:

• Subjective wellbeing (Clark, 2018; Easterlin, 2004)
• A combination of happiness and life satisfaction (Bruni, 2007)

Furthermore, happiness can refer to an acute psychological state, such as feeling happy after a nice meal, or a lasting state similar to contentment (Nettle, 2005).

Researchers might use different definitions of happiness and ways to measure it, thus leading to contradictory results. For example, happiness might be used synonymously with subjective wellbeing and can refer to several things, including life satisfaction and financial satisfaction (Diener & Oishi, 2000).

It seems contradictory that wealthier nations are not happier overall than poorer nations and that increasing the wealth of poorer nations does not guarantee that their happiness will increase too. What could then be done to increase happiness?

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What is the relationship between income/wealth and happiness? To answer that question, we looked at studies to see where and how money improves happiness, but we’ll also consider the limitations to the positive effect of income.

Money buys access; jobs boost happiness

Overwhelming evidence shows that wealth is correlated with measures of wellbeing.

Wealthier people have access to better healthcare, education, and employment, which in turn results in higher life satisfaction (Helliwell et al., 2012). A certain amount of wealth is needed to meet basic needs, and satisfying these needs improves happiness (Veenhoven & Ehrhardt, 1995).

Increasing happiness through improved quality of life is highest for poor households, but this is explained by the starting point. Access to essential services improves the quality of life, and in turn, this improves measures of wellbeing.

Most people gain wealth through employment; however, it is not just wealth that improves happiness; instead, employment itself has an important association with happiness. Happiness and employment are also significantly correlated with each other (Helliwell et al., 2021).

Lockdown on happiness

The World Happiness Report (Helliwell et al., 2021) reports that unemployment increased during the COVID-19 pandemic, and this was accompanied by a marked decline in happiness and optimism.

The pandemic also changed how we evaluated certain aspects of our lives; for example, the relationship between income and happiness declined. After all, what is the use of money if you can’t spend it? In contrast, the association between happiness and having a partner increased (Helliwell et al., 2021).

Wealthier states smile more, but is it real?

If we took a snapshot of happiness and a country’s wealth, we would find that richer countries tend to have happier populations than poorer countries.

For example, based on the 2021 World Happiness Report, the top five happiest countries — which are also wealthy countries — are Finland, Iceland, Denmark, Switzerland, and the Netherlands (Helliwell et al., 2021).

In contrast, the unhappiest countries are those that tend to be emerging markets or have a lower gross domestic product (GDP), e.g., Zimbabwe, Tanzania, and India (Graham, 2005; Helliwell et al., 2021).

At face value, this makes sense: Poorer countries most likely have other factors associated with them, e.g., higher unemployment, more crime, and less political stability. So, based on this cross-sectional data, a country’s wealth and happiness levels appear to be correlated. However, over a more extended period, the relationship between happiness and GDP is nil (Easterlin, 2004).

That is, the subjective wellbeing of a population does not increase as a country becomes richer. Even though the wealth of various countries worldwide has increased over time, the overall happiness levels have not increased similarly or have remained static (Kahneman et al., 2006). This is known as a happiness–income paradox.

Easterlin (2004) posits four explanations for this finding:

• Societal and individual gains associated with increased wealth are concentrated among the extremely wealthy.
• Our degree of happiness is informed by how we compare to other people, and this relative comparison does not change as country-wide wealth increases.
• Happiness is not limited to only wealth and financial status, but is affected by other societal and political factors, such as crime, education, and trust in the government.
• Long-term satisfaction and contentment differ from short-term, acute happiness.

Kahneman et al. (2006) provide an alternative explanation centered on the method typically used by researchers. Specifically, they argue that the order of the questions asked to measure happiness and how these questions are worded have a focusing effect. Through the question, the participant’s attention to their happiness is sharpened — like a lens in a camera — and their happiness needs to be over- or underestimated.

Kahneman et al. (2006) also point out that job advancements like a raise or a promotion are often accompanied by an increase in salary and work hours. Consequently, high-paying jobs often result in less leisure time available to spend with family or on hobbies and can cause more unhappiness.

Not all that glitters is gold

Extensive research explored whether a sudden financial windfall was associated with a spike in happiness (e.g., Sherman et al., 2020). The findings were mixed. Sometimes, having more money is associated with increased life satisfaction and improved physical and mental health.

This boost in happiness, however, is not guaranteed, nor is it long. Sometimes, individuals even wish it had never happened (Brickman et al., 1978; Sherman et al., 2020).

Consider lottery winners. These people win sizable sums of money — typically more extensive than a salary increase — large enough to impact their lives significantly. Despite this, research has consistently shown that although lottery winners report higher immediate, short-term happiness, they do not experience higher long-term happiness (Sherman et al., 2020).

Here are some reasons for this:

• Previous everyday activities and experiences become less enjoyable when compared to a unique, unusual experience like winning the lottery.
• People habituate to their new lifestyle.
• A sudden increase in wealth can disrupt social relationships among friends and family members.
• Work and hobbies typically give us small nuggets of joy over a more extended period (Csikszentmihalyi et al., 2005). These activities can lose their meaning over a longer period, resulting in more unhappiness (Sherman et al., 2020; Brickman et al., 1978).

Sherman et al. (2020) further argue that lottery winners who decide to quit their job after winning, but do not fill this newly available time with some type of meaningful hobby or interest, are also more likely to become unhappy.

Passive activities do not provide the same happiness as work or hobbies. Instead, if lottery winners continue to take part in activities that give them meaning and require active engagement, then they can avoid further unhappiness.

Happiness: Is it temperature or climate?

Like most psychological research, part of the challenge is clearly defining the topic of investigation — a task made more daunting when the topic falls within two very different fields.

Nettle (2005) describes happiness as a three-tiered concept, ranging from short-lived but intense on one end of the spectrum to more abstract and deep on the other.

The first tier refers to transitory feelings of joy, like when one opens up a birthday present.

The second tier describes judgments about feelings, such as feeling satisfied with your job. The third tier is more complex and refers to life satisfaction.

Across research, different definitions are used: Participants are asked about feelings of (immediate) joy, overall life satisfaction, moments of happiness or satisfaction, and mental wellbeing . The concepts are similar but not identical, thus influencing the results.

Most books on happiness economics are textbooks. Although no doubt very interesting, they’re not the easy-reading books we prefer to recommend.

Instead, below you will find a range of books written by economists that explore happiness. These should provide a good springboard on the overall topic of happiness and what influences it, in case any of our readers want to pick up a more in-depth textbook afterward.

If you have a happiness book you would recommend, please let us know in the comments section.

1. Happiness: Lessons from a New Science – Richard Layard

Richard Layard, a lead economist based in London, explores in his book if and how money can affect happiness.

Layard does an excellent job of introducing topics from various fields and framing them appropriately for the reader.

The book is aimed at readers from varying academic and professional backgrounds, so no experience is needed to enjoy it.

Find the book on Amazon .

2. Happiness by Design: Change What You Do, Not How You Think – Paul Dolan

This book has a more practical spin. The author explains how we can use existing research and theories to make small changes to increase our happiness.

Paul Dolan’s primary thesis is that practical things will have a bigger effect than abstract methods, and we should change our behavior rather than our thinking.

The book is a quick read (airport-perfect!), and Daniel Kahneman penned the foreword.

3. The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness – Morgan Housel

This book is not necessarily about happiness economics, but it is close enough to the overall theme that it is worth mentioning.

Since most people are concerned with making more money, this book helps teach the reader why we make the decisions we do and how we make better decisions about our money.

This book is a worthwhile addition to any bookcase if you are interested in the relationship between finances and psychology in general.

4. Happiness: The Science Behind Your Smile – Daniel Nettle

If you are interested in happiness overall, then we recommend Happiness: The Science Behind Your Smile by Daniel Nettle, a professor of behavioral science at Newcastle University.

In this book, he takes a scientific approach to explaining happiness, starting with an in-depth exploration of the definition of happiness and some of its challenges.

The research that he presents comes from various fields, including social sciences, medicine, neurobiology, and economics.

Because of its small size, this book is perfect for a weekend away or to read on a plane.

5 & 6. Prefer to listen rather than read?

One of our favorite podcasts is Intelligence2, where leading experts in a particular field gather to debate a particular topic.

This show’s host, Dr. Laurie Santos, argues that we can increase our happiness by not hoarding our money for ourselves but by giving it to others instead. If you are interested in this episode , or any of the other episodes in the Happiness Lab podcast series, then head on over to their page.

There are several resources available at PositivePsychology.com for our readers to use in their professional and personal development.

In this section, you’ll find a few that should supplement any work on happiness and economics. Since the undercurrent of the topic is whether happiness can be improved through wealth, a few resources look at happiness overall.

Valued Living Masterclass

Although knowledge is power, knowing that money does not guarantee happiness does not mean that clients will suddenly feel fulfilled and satisfied with their lives.

For this reason, we recommend the Valued Living Masterclass , for professionals to help their clients find meaning in their lives. Rather than keeping up with the Joneses or chasing a high-paying job, professionals can help their clients connect with their inner meaning (i.e., their why ) as a way to find meaning and gain happiness.

Three free exercises

If you want to try it out before committing, look at the Meaning & Valued Living exercise pack , which includes three exercises for free.

Recommended reading

Read our post on Success Versus Happiness for further information on balancing happiness with success, in any domain . This topic is poignant for readers who conflate happiness and success, and will guide readers to better understand their relationship and how the two terms influence each other.

For readers who wonder about altruism , you would find it interesting that rather than hoarding, you can increase your happiness through volunteering and donating. In this post, the author, Dr. Jeremy Sutton, does a fabulous job of approaching altruism from various fields and provides excellent resources for further reading and real-life application.

Our last recommendation is for readers who want to know more about measuring subjective wellbeing and happiness . The post lists various tests and apps that can measure happiness and the overall history of how happiness was measured and defined. This is a good starting point for researchers or clinicians who want to explore happiness economics professionally.

17 Happines Exercises

If you’re looking for more science-based ways to help others develop strategies to boost their wellbeing, this collection contains 17 validated happiness and wellbeing exercises . Use them to help others pursue authentic happiness and work toward a  life filled with purpose and meaning

17 Exercises To Increase Happiness and Wellbeing

Add these 17 Happiness & Subjective Well-Being Exercises [PDF] to your toolkit and help others experience greater purpose, meaning, and positive emotions.

Created by Experts. 100% Science-based.

As you’ve seen in our article, the evidence overwhelmingly clarifies that money does not guarantee more happiness … well, long-term happiness.

Our happiness is relative since we compare ourselves to other people, and over time, as we become accustomed to our wealth, we lose all the happiness gains we made.

Money can ease financial and social difficulties; consequently, it can drastically improve people’s living conditions, life expectancy, and education.

Improvements in these outcomes have a knock-on effect on the overall experience of one’s life and the opportunities for one’s family and children. Nevertheless, better opportunities do not guarantee happiness.

Our intention with this post was to illustrate some complexities surrounding the relationship between money and happiness.

Knowing that money does not guarantee happiness, we recommend less expensive methods to improve one’s happiness:

• Spend time with friends.
• Cultivate hobbies and interests.
• Stay active and eat healthy.
• Try to live a meaningful life.
• Give some love (go smooch your partner or tickle your dog’s belly).

Diamonds might be a girl’s best friend, but money is a fair weather one, at best.

We hope you enjoyed reading this article. Don’t forget to download our three Happiness Exercises for free .

• Brickman, P., Coates, D., & Janoff-Bulman, R. (1978). Lottery winners and accident victims: Is happiness relative? Journal of Personality and Social Psychology , 36 (8), 917.
• Bruni, L. (2007). Handbook on the economics of happiness . Edward Elgar.
• Clark, A. E. (2018). Four decades of the economics of happiness: Where next? Review of Income and Wealth , 64 (2), 245–269.
• Csikszentmihalyi, M., Abuhamdeh, S., & Nakamura, J. (2005). Flow. In A. J. Elliot & C. S. Dweck (Eds.), Handbook of competence and motivation (pp. 598–608). Guilford Publications.
• Diener, E., Sandvik, E., Seidlitz, L., & Diener, M. (1993). The relationship between income and subjective well-being: Relative or absolute? Social Indicators Research , 28 , 195–223.
• Diener, E., & Oishi, S. (2000). Money and happiness: Income and subjective well-being across nations. Culture and Subjective Well-Being , 185 , 218.
• DiMaria, C. H., Peroni, C., & Sarracino, F. (2020). Happiness matters: Productivity gains from subjective well-being. Journal of Happiness Studies , 21 (1), 139–160.
• Easterlin, R. A. (1974). Does economic growth improve the human lot? Some empirical evidence. In P. A. David & M. W. Reder (Eds.), Nations and households in economic growth: Essays in honor of Moses Abramovitz (pp. 89–125). Academic Press.
• Easterlin, R. A. (2004). The economics of happiness. Daedalus , 133 (2), 26–33.
• Graham, C. (2005). The economics of happiness. World Economics , 6 (3), 41–55.
• Haesevoets, T., Dierckx, K., & Van Hiel, A. (2022). Do people believe that you can have too much money? The relationship between hypothetical lottery wins and expected happiness. Judgment and Decision Making , 17 (6), 1229–1254.
• Helliwell, J., Layard, R., & Sachs, J. (Eds.) (2012). World happiness report . The Earth Institute, Columbia University.
• Helliwell, J. F., Layard, R., Sachs, J. D., & Neve, J. E. D. (2021). World happiness report 2021 .
• Kahneman, D., Krueger, A. B., Schkade, D., Schwarz, N., & Stone, A. A. (2006). Would you be happier if you were richer? A focusing illusion. Science , 312 (5782), 1908–1910.
• Nettle, D. (2005). Happiness: The science behind your smile . Oxford University Press.
• Sherman, A., Shavit, T., & Barokas, G. (2020). A dynamic model on happiness and exogenous wealth shock: The case of lottery winners. Journal of Happiness Studies , 21 , 117–137.
• Steptoe, A. (2019). Happiness and health. Annual Review of Public Health , 40 , 339–359.
• Veenhoven, R., & Ehrhardt, J. (1995). The cross-national pattern of happiness: Test of predictions implied in three theories of happiness. Social Indicators Research , 34 , 33–68.

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Money as the Key to Happiness - Essay Example

• Subject: Philosophy
• Type: Essay
• Level: Masters
• Pages: 2 (500 words)
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• Author: darionlangosh

Extract of sample "Money as the Key to Happiness"

Apart from it is essential, it also takes the form of joy. One who has it more than the basic requirement finds it a pleasure to have it. Money not only buys the necessities of life but also has the power of fulfilling one's deepest desires. But not everyone is fortunate enough to have the 'pennies from heaven. In fact, some can't even meet their basic needs. This is mainly because of the inequalities that have prevailed in our societies. The unequal distribution of income, which has a vital role to play in this regard, is directly affected by the prevailing socio-political and economic conditions within the country. C.W.

Mills, in his book The Sociological Imagination, has emphasized the aspect of raising the level of overall country's prosperity. This, as he proposed, is achievable by making efforts to reach a full employment condition by balancing all the variables in such a way that everything gets settled in an equilibrium state. Some also argue that money isn't the actual aspect of bringing happiness to one's life. They say that having money to a greater extent might be the ultimate source of pleasure; however, it is to a certain limit.

This limit though varies from person to person, but after reaching this point the utility becomes nil. This demonstrates an important aspect I.e. money brings well-being and actually well-being is the actual source of happiness. To reach a certain level of well-being, only a certain amount of money might be enough, except for those who merely live for the greed of having more and more. Even several types of research conducted and studies performed have yielded these results i.e. the people who have pursued having more and more money actually end up working late hours.

Such people are going after extrinsic goals i.e. name and fame and often undergo depression, anxiety, and dissatisfaction. On the contrary, people who are after the intrinsic goals such as having a healthy social circle are actually better off. Many times, when asked, only a few people respond that they are dissatisfied. This should lead to the conclusion that the ones who form the major part of the population should be happy. This is however not the case. Because when asked about happiness even fewer responded positively.

Others were either in between or had a near-to-negative reply. This clearly means that not only s the extent of happiness is subjective, but also there are other social aspects/variables that impact the level of happiness in one's life.

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Sample essay: does money bring happiness?

by Manjusha Nambiar · Published April 7, 2014 · Updated November 14, 2023

IELTS essay prompt

Some people believe that money brings happiness; others are of the opinion that having too much money is a problem. Discuss both views and give your own opinion.

Sample response

Almost all of us are motivated by money. The only reason that most of us spend 8 to 10 hours at the workplace is to earn money. Money probably doesn’t bring happiness, but not having enough money to take care of our basic needs will seriously limit our happiness. No one wants to live in poverty and no one will lend to the poor.

Money helps us lead a comfortable life. It helps us provide the best possible education for our children. It ensures that our near and dear ones have access to medical attention whenever they need it.

Having more money than you need is unlikely to increase your levels of happiness, but not having enough will definitely destroy your peace of mind.

There is a limit to the amount of money that we can spend on ourselves. Still, the richest among us have amassed wealth they or their progeny will never use in their lifetime. Still, they aren’t satisfied. They want more. That is the lure of money. It never makes people content. Those who don’t have it want to have it. Those who have it want to have even more of it. Unfortunately, in our pursuit of riches, we often forget to live. We forget to appreciate the little joys that make our lives worth living.

Having a lot of money is definitely a problem. It even threatens our safety and security and makes us the target of thieves. Look at the richest people. They can’t move around freely like you or I. They are always surrounded by their personal security guards and often live their entire lives in constant fear of getting attacked.

To conclude, money is unlikely to make us happy, but we must still earn enough. However, in our pursuit of riches, we must not lose our souls. True happiness comes from spiritual awakening. Money has hardly anything to do with it.

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Manjusha Nambiar

Hi, I'm Manjusha. This is my blog where I give IELTS preparation tips.

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