Who Says Money Doesn't buy Happiness?
Wednesday, June 19, 2013If you missed my column on Saturday you can read it on the Geelong Advertisers page.
My original was a lot longer but due to space restrictions I had to cut a fair bit out so here is the full version. Would love to hear what you think, if you agree or disagree.
The age old argument continues to pop
up in conversations everywhere but I am going out on a limb here and am going
to say that yes it does indeed come close to buying happiness. I do however
think it needs to be teamed up with some other important factors.
I have sat on both sides of the fence
a few times, as a teenager when my parents marriage dissolved and again as an
adult when my marriage did the same thing. Of course I had my heady student
days of eating 2 minute noodles and travelling the world sleeping on rooftops
of hostels to save a few dollars but that doesn’t count.
Being poor is not fun, it can be very
debilitating, confidence can be lost and it can be extremely hard to put on
your happy face for the world to see. Lying awake at night wondering how you
are going to pay the bills can be paralyzing. Even if you have the love of your
life lying next to you the lack of money can start to do it’s damage. Many
relationships have ended due to economical issues. To me that debunks the
theory that love is all you need to be truly happy. In fact just today someone
was referring to a couple that were divorcing and had a lot of money and out it
came “see money doesn’t buy happiness” I am tipping that marriage would have
broken up regardless of how much or how little money they had. I can
categorically tell you that being poor on top of a marriage breakdown is no
fun.
If life has not turned out the way
you had hoped and you find yourself in your 40’s single and childless, can you
imagine also having no money on top of it? I have a few school friends who have
found themselves in the unmarried/childless life but luckily they have well
paying jobs and travel the world on their vacations and live life to the
fullest. They can address their health issues and look good at the same time.
Knowing your life didn’t turn out as planned but being able to sleep at night
because you can pay the bills, dress nicely, catch up with friends for dinners
and take fabulous vacations sure does take the edge of.
I feel very sad for people who got
stuck somehow in the cycle of poverty, they can’t afford to dress well to even
turn up to a job interview, they cant afford a computer in their home to be
able to look for jobs, better educate themselves or to simply connect with the
world out there and feel less lonely. The rest of us have multiple screens and
take it for granted.
2 years ago I volunteered for the
Salvos on Christmas Day in Corio and I met a man, in his 40’s who was so crazy
excited because a friend had given him his old mobile phone as a present AND it
had $20 credit on it. He was on cloud 9 and trying to decide who to call first.
That possession alone made him happy and also made him feel important.
Don’t even get me started on health.
They say bad teeth are the first sign of poverty and it is true. Tooth pain is
excruciating and not covered under Medicare so can you imagine just having to
live with the pain because its also highly likely you cant afford the pain
killers.
There is a new study that has been
done by University of Michigan economists Betsey Stevenson and Justin Wolfer.
They have examined data from more than 150 countries from sources including the
World Bank and the Gallup World Poll. The husband-and-wife team found that the
more money people have the happier they are. In fact, the study found zero
unhappy millionaires. No surprise there.
Money, while it doesn’t always buy
happiness, is an important means to achieving higher living standards and I am
sure that in turn makes us happier.
Nobel prize-winning
economist Daniel Kahneman has also received lots of attention with research
that says money makes us happier. He does however say that beyond about $75,000
in annual income – enough to fund a moderately comfortable lifestyle – more
money does not make people much happier, he said.
For me personally, a
little extra income in my life has had a dramatic change on my happiness
levels. I want to be clear that it is not just the money but how I spend my
money. Here are my top 5 happiness tips.
1. Planning a holiday is
right up there in increasing my endorphins. Even if it’s a few years out,
knowing it is coming keeps me going. I would way rather spend my hard earned
money on experiences over possessions. That has been my creed in life since my
teens. The memories of experiences last a life time, a brand new shiny car
lasts but a moment. I have never once hard my kids or grown ups say “remember
the day I got my new computer, I felt so ______” but I sure do hear a lot of
“remember that holiday we went on 1/5/10/20 years ago and how amazing it was”
2. Less television and
commuting makes me a happier girl. Those two are known to be the least happy
use of our time. I watch very little and am selective in what I choose to
subject myself to. The news just makes me miserable. I choose to work from home
to avoid the ugly commute.
3. Spending quality time
with my family and friends, taking a walk on the beach, having a picnic,
throwing a BBQ, seeing a movie, sharing great food.
4. Volunteering to help
others makes a lot of people happier. There is a great satisfaction in helping
others and I am instilling this in my children.
5. Being grateful for what
I do have and not concentrating on what I don’t have. They say people who keep
a gratitude journal and write in it everyday are much happier people.
You can find my column in the GT on the 3rd Saturday of every month.
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