Prev
Next

Money probably can buy you happiness

Adam Ferrier

by Adam Ferrier

04 Feb 05:50am

Filed under: Happiness, Money, Society

48 comments

Does your new model six-cylinder car make you happier? What about that new in-home cinema, complete with HD-TV, surround sound, and reclining couches? You think so. How about the holiday you recently took with the family?

Queueing for happiness at DJs.

Unfortunately, as humans we are not that good at predicting, understanding, or acting in a way that makes us happy.  This lack of knowledge is even more pronounced when it comes to the relationship between what we buy and how happy it makes us. 

Have you even considered how happy various purchases you’ve made have actually made you? 

The relationship between happiness, money and what we buy is a complex one, and until recently has been completely neglected. Quite surprising when we live in a capitalist, money obsessed society.

Luckily for us Australians most global studies on happiness find a pretty strong correlation between happiness and financial prosperity. In particular the happiness of a country is mainly determined by the level of wealth, health, and education that nation has to offer*.

However, how do people within those prosperous nations spend their money to ensure they stay happier?  Short answer is they have no idea.  However, if want to know how to ‘buy happiness’ take the following on board.  People who research these types of things suggest that if you ant to be happier, you should purchase:

Romance: Happy wife, happy life. Buy your loved one flowers, or spend on things that facilitate a significant relationship.

Interests: Get in ‘Flow’ and foster deep interests, buy the new golf clubs, or spend on things you are already truly passionate about (note: the same is not true for things you have a superficial or shallow interest in)

Experiences: Experiences last forever. If it’s a choice between the two buy the family holiday over the new car.

Sociability: Enhance sociability with others, shout dinner for 8 at a nice restaurant, or buy a BBQ and make sure you invite the neighbors over

Gifts: Giving to others will make you far happier than taking. Donate now.

So there you have it, don’t believe what they’ve always told you money can buy happiness.  Another fallacy you may have heard along these lines is that people who win lotteries are not happier after the win. Again, this just isn’t true.  The most accurate studies in the area show, that even after two years (and probably more) those who experience a financial win fall are happier**.

Money, and how we spend it play a major role in how happy we, and our loved ones are.  As responsible, self-determinist individuals we have to take responsibility for knowing how to spend it to maximize our happiness. Fortunately, the worlds of economics, positive psychology and sustainability are merging, and brewing is the is emergence of accurate information on how to buy happiness.  This will represent a fundamental shift in how people are sold to. It will become increasingly important on marketers to deliver happiness, not just talk about it.

*Adrian White, 2006

** Gardner and Oswald, 2007

Don’t miss: Get The Punch in your inbox every day

Get The Punch on Facebook

48 comments

Show oldest | newest first

    • Bill says:

      08:25am | 04/02/10

      Adam,

      Dude, I know it’s off topic, but it’s killing me.  What’s with the hair? Are you standing in front of something or are the four horns sticking out representative of a mid-life crisis?

      Reply

    • Eric says:

      09:29am | 04/02/10

      Are there four horns, or six? I see six.

    • Adam Ferrier says:

      06:59am | 05/02/10

      Bill I ageree with you always good to get the conversation off with a diversion.  I’m standing in front of a stuffed goat - which for some reason we have mounted on the wall in our office.  I have plenty of biological symbols clearly indicating a mid life crisis - the horns however are not one of them.

    • Paul says:

      08:34am | 04/02/10

      Someone who says money can buy happiness obviously has no idea what happiness is

      Reply

    • Brando says:

      09:28am | 04/02/10

      Or where to shop

    • Grid says:

      06:53pm | 04/02/10

      In the words of ZsaZsa Gabour, “if you think money cant buy happiness, your shopping in the wrong places”
      Ive had a dollar and been flat broke. Guess which one made me happier.
      Cant be happy struggling to pay bills and buy food.

    • Grid says:

      07:30pm | 04/02/10

      Better let the third world countries know we wont be giving them any more money. Theyre perfectaly happy with out it.

    • David Lee Roth says:

      09:02am | 04/02/10

      “Happiness” is a crude concept borne of a narcissistic ansd conceited society. Humans are not designed to be happy. Our brain physiology does not support it. We are designed to consume in order to survive. When we consume our brain will release certain endorphins to congratulate ourselves on gaining a better chance of survival (you got yourself some food, well done, have some happiness endorphins).

      It is only temporary. We are required to keep stimulating this as a survival mechanism.

      The concept of lifelong happiness was an invention of advertising. To expect it is folly.

      Money won’t buy you happiness, but it will buy you a big boat so you can sail right up next to it and not know the difference.

      Reply

    • Bob says:

      12:04pm | 04/02/10

      Have you ever been unemployed for an extended period? To the point where you were stuck in the miserable paradox of living in a wealthy country but having no food or money to buy some? I have.

      Now that I’m employed again the bigger my bank balance gets the greater my hedge against starvation. As a result, I get a dose of those endorphins of which you speak. Not only can money buy happiness, in my case it is happiness itself because of what it represents.

      The brain is a complex thing that given an appropriate association any stimulus can provoke the desired result.

    • Warwick says:

      10:24pm | 23/02/10

      I would agree that happiness, like everything, is only temporary, I would point out that, according to your argument, money will buy you happiness because it gives you choices to ‘get food’ therefore allowing your brain to release those ‘endorphins’ thereby making you feel happy… money is certainly one conduit to happiness.

    • DG says:

      09:27am | 04/02/10

      Money can’t buy happiness - it can buy things that make you happy and even then the happiness is derived from either the acquisition of the thing or the subsequent use of the thing.

      Essentially happiness is the human response to positive stimuli, where positive is in the opinion of the recipient. If you have money you have the potential to acquire more positive stimuli. Alternatively, if you are poor, recently divorced and living in a shoebox positive stimuli may well be hard to come by. It is also worthy of not that negative stimuli has a longer lasting effect than positive stimuli (I understand that this was a biological mechanism that effectively causes a person to keep doing positive things to get the happy hit, and avoid negative things that have the opposite effect).

      Reply

    • Dino says:

      09:33am | 04/02/10

      +1. Money won’t buy you happiness, but it will buy you a big boat so you can sail right up next to it and not know the difference. Good comment.

      How about: “Money don’t get everything it’s true, what it don’t get, I can’t use” (Barrett Strong)

      Reply

    • Mel says:

      09:45am | 04/02/10

      To the comments about not expecting long term happiness (DLR and DG) -  read Daniel Gilberts -Stumbling upon happiness’. The thing that sets us apart from other animals is our ability to contemplate and strive for long terms happiness.

      Reply

    • DG says:

      11:39am | 04/02/10

      There is a significant difference between the pursuit for long term happiness and that achievement. The ultimate goal is for a long term, repeatedly positive stimuli - such has a happy relationship where it is not so much the continued existence of the relationship that bring happiness but the experiences associated with the ongoing relationship - the affection, love intimacy, shared positive experience etc.

      I do agree with Gilbert that we are notoriously poor in guessing how happy something will make us (or how happy something has made us previously - also known as looking back with rose coloured glasses) so we should look to others and see how their experiences make them feel - however I think that needs to be subject to the disclaimer that I mentioned above about personal preference.

      That is not inconsistent with “long term happiness”. I was simply saying that no stimuli will make you happy forever, you need regular positive stimuli to retain a level of happiness. Without positive stimuli happiness wanes. For example for a relationship to provide happiness both parties to the relationship have to maintain their interest and enthusiasm. An apathetic relationship will not bring happiness - it requires both parties to provide positive stimuli to the other (depending on the needs of that other person - i.e one persons positive stimuli may be “giving them space”, and so long as you keep giving them that positive stimuli the “relationship” will remain a positive stimuli contributing to the happiness of that person, if you stop that behaviour the relationship will cease to be a positive stimuli and will not longer bring happiness).

      Consider - a “good job” provides happiness only so long as it keeps providing positive stimuli. If the job changes and stops providing that stimuli the “job” no longer promotes happiness.

    • The Blissful Ignoramus dotcom says:

      09:47am | 04/02/10

      I Don’t Know why we strive to purchase status symbols.

      I do know, the things we buy rarely reflect the true state of us.

      Reply

    • Julia says:

      09:58am | 04/02/10

      I’ve always thought that money can’t buy happiness. But it certainly rents a nice imitation of it.

      Reply

    • Liz says:

      10:11am | 04/02/10

      Alternatively get new friends and a life.

      Reply

    • Yapping cow says:

      10:40am | 04/02/10

      The most important thing actually is health (mental and physical). No point in having money and being the Jones they keep up with without your health as you can’t enjoy anything without good health.

      Reply

    • jo says:

      11:06am | 08/02/10

      money give you better health both in terms of better life style and better health care

    • George says:

      10:46am | 04/02/10

      I agreee money doesn’t buy happiness, but poverty doesn’t either. Better to be rich and unhappy than por and unhappy.

      Reply

    • Luke says:

      10:49am | 04/02/10

      In principal Money cannot buy happiness.  The want for material possessions comes from a need to continue to have the latest and greatest things.  There is a need for material possesions so that you can live life, but anything above that is driven by greed.  Greed is not good (despite what the movies say) and leads to selfishness, jealousy and other negative behaviours.  Greed is also never satisfied, once you have the latest car, house, watch, phone etc what next? A person is not judged by the posessions they have but the quality of the friends and family they keep.  If you think posessions will bring you happiness you will be in for a rude shock.

      Reply

    • stealthpooch says:

      11:06am | 04/02/10

      Money doesn’t buy happiness per se, but it helps. 

      What are the things that make me the happiest?
      making and seeing art, the dog, gardening, skiing, good food and wine, and o/s travel (usually to see more art).  All of those things involve expenses, often quite a lot.  As a result it’s been a few years since I’ve been skiing, I’m slogging away at 3 jobs saving for my next overseas trip, while trying to save up for some more printing ink.  I can’t say for sure whether I’d be any happier if it took me less time to save - if I could just take off to any gallery around the world without having to worry about money; if I could go to good restaurants and be able to order anything off the wine list, not just the house wine; or if I’d be a better artist if I could buy a tube of printing ink immediately.  But I reckon it’d help.

      Reply

    • cb says:

      11:06am | 04/02/10

      i love money!

      Reply

    • Bob says:

      12:09pm | 04/02/10

      Mee too.

      It buys food and shelter for myself and my children. It even shuts-up my ex. When she whines, I stuff some money in her face and she goes away. So much easier than having to care about her. Money rocks!

    • Leigh says:

      11:11am | 04/02/10

      What (enough) money gives is freedom from the necessity of spending five sevenths of most of our lives in a place and with people not entirely of our choosing.

      Freedom from the drudgery of employment, without financial worries, is what would make most people happy.  I call it “f*** you money”. Can you imagine a life never having to answer/pander/justify to a cretinous boss or work colleague?

      Reply

    • td says:

      11:32am | 04/02/10

      I agree. I can’t stand my job and it makes me miserable. As soon as I leave for the day, I’m much happier. But until I get a better job or some eff you money, I’m stuck.

      There are plenty of circumstances where money will buy you happiness. And a whole lot more.

    • NCG says:

      11:42am | 04/02/10

      The idea that money can’t buy happiness is a sentiment most often made by those who don’t have any. Frankly I enjoy the fact that little is out of reach due to a solid financial situation. I’m unsure how driving a rundown car, living in a squalid rental property and working a crappy job, just to scrape by in life,  can bring happiness….

      Comments from Stealthpooch @ 1106 and Leigh @ 1111 are spot on in my view.

      Reply

    • Mike says:

      12:08pm | 04/02/10

      This is deluded. Happiness is only EVER found within.  No external conditions can ever create true happiness. Fleeting feelings of pleasure or satisfaction but never, ever, true & profound lasting happiness. Once the experience fades the “self” is left desiring and wanting in order to fill the void that inevitably opens up again when we spend our lives not examining anything. Sometimes a little introspection can bring insight but most of us are too afraid to look so we distract ourselves with things that we think will make us happy but fail to and then we have to chase it again. For example, giving to others will only make one happier if the reason for giving is motivated by authentic altruism. Giving in order to feel happy is motivated by a selfish desire so it is bound to be unsatisfactory.

      Reply

    • Bob says:

      02:02pm | 04/02/10

      So much dogmatic language!

      I think you missed the opening part where Adam mentioned we humans aren’t too good at accurately (and honestly) understanding our needs.

      The question “Have you even considered how happy various purchases you’ve made have actually made you? ” is an invitation to indulge in the sort of introspection you mention.

      My money makes me happy because I have engaged in such self analysis and spend it on the right things for the right reasons. And who the hell are you to declare me delusional?

    • JJJ says:

      04:01pm | 04/02/10

      I agree with your comment, Mike.

      Happiness is a choice. You can choose to let a new car make you happy and you can choose to let an old, beat-up car make you unhappy, but your reaction to the world around you is TOTALLY your choice.

    • Grid says:

      07:01pm | 04/02/10

      Funny, everyone was happy when Mr Rudd gave them all MONEY.

    • Bob says:

      08:10pm | 04/02/10

      “Totally”? Now that is delusional. We have some say over it and the outside determines the rest. Try telling some starving kid in Ethiopia “Cheer up little fella, life is what you make of it!” but give him nothing to eat and see how it goes.

      It’s about balance. I agree in part with what you and Mike are saying but not to the extreme extent as you.

    • Davy says:

      12:25pm | 04/02/10

      Well if money cant buy you love then why do we have such a burgeoning sex industry.

      Reply

    • Hochfelden says:

      01:17pm | 04/02/10

      Since when was having sex with a prostitute anything to do with love?

    • Davy says:

      02:51pm | 04/02/10

      Define Love.

    • Trev says:

      01:00pm | 04/02/10

      I work with a bozo who (combined with his wife) has an income of 200-230k.  Money buys them staggering amounts of ‘high class’ expensive rubbish (enormous TVs, several expensive cars).  He hates his wife (she’s as ugly as all hell and has a personality to match - just a wretched, wretched human being) and they’ve just had a child (which they buy everything imaginable for).  He spends his days drooling over any (ANY) female unfortunate enough to walk buy his ugly face (there is no embellishment in this post, none whatsoever to detail the full atrocity of this guys life would be to write a War and Peace length post).  As I understand it, money buys him the things he needs to ‘not have to deal with his wife’ - he buys holidays, cars and real estate (they are millions in debt by his own estimation).  Money is a ‘separator’ for them, if they had to deal with their own personal failings/problems they’d be divorced (simple as that).  Money may buy a level of comfort, it may buy you out of a hole but rarely have I ever seen the people who actually covet money and obtain it (as both he and his wife have) as being actually ‘happy’ people.  Money-lust seems to somehow erode ones ability to appreciate the very things that we often say ‘money can’t buy’ (like trying to achieve peace by killing people in war - one act actually negates the intended other/effect).  You can buy an expensive holiday but you can’t ‘buy’ the experience of sharing it with someone you love (unless you love prostitutes).  A round about way of saying I spend much of my time laughing at this fella’s miserable misfortunes (which, sadistically - makes me very happy indeed). grin

      Reply

    • James says:

      01:20pm | 04/02/10

      Then why are so many of my better-off friends so angry and bitter?  And why are their wives all on Valium and Prozac?  Perhaps they spend too much time listening to marketing rubbish…

      Reply

    • AdamC says:

      03:01pm | 04/02/10

      Geez, some of the comments here are ridiculous. Yes, I know of unhappy rich people – but I know of a lot more unhappy poor people!

      I like money. I like earning money, spending money and (paradoxically) saving money.

      Money is nice. Money is cool. Money can be exchanged for goods and services.

      Money rocks.

      I don’t think much about whether money makes me happy. I like money anyway. It already does enough for me.

      And, you know what, I would like to have more of it. A lot more.

      Reply

    • Bitten says:

      03:05pm | 04/02/10

      The fact is, some people are good at being happy. Happiness takes a great deal of personal and interpersonal insight, the ability to understand ourselves and others and to therefore identify what it is that truly makes us happy. If you are one of these people, there is no doubt that money can facilitate ongoing happiness. Whether it is used to let your parents retire early and go on a world trip, to educate your children at the institution of their choice, to ensure that the elderly neighbour who loves her garden but cannot manage it anymore has paid help to work in her garden for her, money in all of these instances can engender happiness for some people. Other people simply have no idea how to live well and indeed can barely live. These people will never be happy, no matter how much money they do or do not have.

      Reply

    • MONEY AND/OR HAPPINESS says:

      04:15pm | 04/02/10

      Happiest comes from within ones own self. That is to say, you learn to adopt an attitude that can accommodate whatever circumstance is haled towards you yet still being able to hold the happiness within.  To learn this happy type of attitude takes a lot of practice.  It helps you overcome a not-so-welcomed tragedy showing up in your life and eases an event that causes great suffering and distress, such as a serious illness or accident, crime or natural catastrophe.

      All this is great happiness is perfect when you have ABUNDENCE, MONEY, SECURITY and all the rest that comes with it.  The rubbish you may have been told that money doe’s not bring you happiness is B.. Sh.t.  I would much prefer to suffer a catastrophe knowing I have a huge stack of loot at my disposal.

      Do not confuse the wanting of money over the worshiping of money, you’ll send yourself mad.
      The wanting of money is perfectly normal I say.  Money makes the world go around and I love that.

      Reply

    • Ross says:

      05:15pm | 04/02/10

      When I was working and had a dollar or two . money ment little to me as long as me and mine got some joy from it .Now I;m old and sick and poor but I still have some of the items that made me happy then and they still make me feel happy today. So yes money can make you happy if you spend it well.and don;t let the lack of it get you down.

      Reply

    • Lisa says:

      07:26pm | 04/02/10

      With a significant wedding anniversary looming, to my own surprise I found I really wanted a lovely solitaire anniversary ring to replace my super el cheapo original engagement ring.
      This irrational desire did not go away.
      I saved up for two years, and finally got the new one.

      TBH I am pretty surprised at how happy this little possession still makes me, two years after receiving it!
      Every day, I enjoy my lovely anniversary jewellery, and the love I feel it represents (because my husband agreed that I should have it, and because I am wearing it on my wedding finger).

      How does a woman’s enjoyment of an apparently useless gift tie in with this research?

      Is my survival enhanced because I could sell the ring for groceries? Or because I feel that my status is enhanced ? Or because it becomes part of the family’s ‘stuff’? Or because the gratification was delayed?
      Somebody with a fancy boat, car, or suit of clothes, please weigh in!

      Reply

    • Matt says:

      08:01pm | 04/02/10

      If money can’t buy happiness then it can certainly buy a better form of unhappiness lol

      As someone else has said, money can be exchanged for goods & services, and we buy the ones that make us happy if we know what we are doing. I know every time I give my car a squirt it brings a big smile to my face :D

      Reply

    • Gerard Oosterman says:

      01:40am | 05/02/10

      Happiness is vastly over-rated.
      I own a leghorn chicken that I have a platonic relationship with. It is a relationship that is deep and meaningful and affords me moments of contendness and inner peace. His name is Eggonot. Two years ago some jealous person stole my Eggonot .
      I ended up in putting ‘lost chicken’ signs on many telegraph poles in the Inner West.
      Luckily, the person who had stolen him became riddled with guilt and regret and returned my beloved Eggonot.
      With his return I experienced intense moments of contendness, even happiness perhaps. 
      I have become somewhat less cynical and more tolerant of people who confess they sometimes feel ‘happy’.

      I feel now that there is hope for all of us.

      http://oosterman.wordpress.com/

      Reply

    • Kenny says:

      07:59am | 05/02/10

      good article… thanks

      Reply

    • Hugh says:

      12:39am | 06/02/10

      Adam Ferrier is happy he wrote this article to stir the pot and encourage discussion and readership.
      By including happiness within social settings, I think he is intelligent enough to realise that happiness from material possesions does not last.
      However, Adam is confused with cause and effect eg. buying flowers does not directly result in love or affection from your partner - it mearly enhances the relationship.

      Reply

    • Buffy says:

      02:09pm | 06/02/10

      Hugh and what does “enhancing the relationship do?” ...makes you happy.

      Reply

    • Cuddlyscamp hairylegs says:

      07:02pm | 07/02/10

      By definition it would, though I would have said happier, along with “merely”.

      If Hugh thinks buying presents does not reflect in extra affection, why do people buy them in the first place, and see what happens when one doesn’t buy them for an extended period, then begin buying them.

      Apart from that, I think he may have missed the overall thrust of the argument, since he is attributing something to the author, that the author makes clear are not his ideas.

 
Comment

Recent posts

The latest and greatest

Transparency policy not so candid in practice

Transparency policy not so candid in practice

Transparency’s all the rage these days. And accountability. Politicians and public servants promise… Read more

Most commented

The talk of the town

  1. What voters really think of Tony Abbott's religion 191
  2. Why there is no International Man’s Day 182
  3. Token ceremony openings must be brought to an end 88
  4. The Senate protects us from bad government 84
  5. Don’t bring your kids and other supermarket rules 65
  6. Ignore water, ignore women 56
  7. Why stop at binning welcome to country and prayers 54
  8. A lower voting age risks a lower voting standard 47
  9. Why are people so unkind, to Lada Gaga 41
  10. Yes to housing affordability, but don’t take my home 41

Punch live

Up to the minute Twitter chatter

Lucy Kippist

lucyjk 18 Mar 10 09:14AM

@SimonThomsen LOL you can try!

Lucy Kippist

lucyjk 18 Mar 10 08:21AM

Don't bring your children and other "rules" of supermarket shopping. Got a gripe or two of your own? Add to my list: http://bit.ly/dBWydm

Lucy Kippist

lucyjk 18 Mar 10 07:55AM

What voters really think of Tony Abbott, great piece by Nic Christensen & Tina Tek: http://bit.ly/bvLWSz#thepunch

tory_maguire

_Tors 18 Mar 10 07:34AM

Am actually going to miss the Blackhawks that have been stalking Sydney lately.

See all tweets

Light weight

Gentle jabs to the ribs

Breaking news: Something is going on

Breaking news: Something is going on

Is this the greatest ever send-up of 24-hour news? Warning: contains strong language and hilarity. From… Read more

10 comments

Newsletter

Read all about it

Sign up to the free daily Punch newsletter

Subscribe to The Punch RSS feed