There are many studies that try to show empirically if something as simple and material as money can be the ‘elixir’ of the eternal happiness of the human being. If we ask someone the question, many will say that “money does not buy the happiness of the person.” However, many others will add to their response a shy “… but it helps.”
By ethical and moral standards of modern humanity, we want to think that a pile of bills and coins are not the solution to misfortune. However, taking into account that we are in a society where consumerism is found in every corner and above all, where, in addition, the economic crisis has left (and continues to do so) a large gap in the portfolio of thousands of people, it would not be a madness to affirm that money does give happiness, or rather, tranquility .
However, you have to be cautious, as money is a double-edged sword . When it comes to income, scientists say that there is actually an ideal amount we can earn each year to feel emotionally satisfied, and believe it or not, having too much money could drag you into unhappy territory.
In the select world of millionaires, a group of scientists have studied how people’s happiness varies in relation to the origin of their fortune . The results, obtained from two samples of 4,000 people, show that, as expected, the greater the wealth, the greater the happiness, but this must be exaggeratedly large to make the person happy. Now, millionaires or millionaires who have earned their fortune on their own merits will be significantly happier than the one who has inherited it. Therefore, according to this case it is confirmed that in one way or another money gives, to a greater or lesser extent, some happiness.
A constant debate
Heritage, power and wealth have always been a matter of debate among people; and throughout history, the true reason for the most important conflicts. Therefore, it is not surprising that it arouses the curiosity of scientists, psychologists, anthropologists, etc., and tries to lawfully prove how it affects us. And, what is it about money that clouds human judgment?
The answers are very varied, but the truth is that money gives us material and emotional stability.
A previous study from Case Western University (USA) determined that, statistically speaking, household income is strongly related to emotional well-being and a person’s assessment of their own quality of life. For this, the data of individuals over time were used to demonstrate that income can cause a reduction in negative emotions. It also found that an increase in income can reduce the incidence of serious mental illness . So, in this case, money is decisive.
It has also been discovered that there is a limit at which money no longer brings us so much happiness, something they have described as ” the money-happiness threshold .” According to this research, in the US for example, the ideal entry point per individual is $ 95,000 (77,000 euros) per year for material well-being and 60,000 to 75,000 (48,500 to 60,000 euros) for emotional well-being.
In summary, what is known for sure is that money brings happiness to the person by being an insurance of tranquility and economic stability. Given this, problems such as stress or anxiety decrease and give way to more positive feelings. However, this state is limited, because from a certain amount, our interest in it decreases and therefore its value. So when you ask the famous question about happiness and money, the famous “no, but it helps” answer is not that far from correct.
Reference: Grant E. Donnelly, Tianyi Zheng, Emily Haisley, and Michael I. Norton. The Amount and Source of Millionaires’ Wealth (Moderately) Predict Their Happiness. Sage Journals (2018) DOI: https://doi.org/10.1177/0146167217744766
