Yes it can! Turns out the idea that money can’t buy happiness has been disproved by science - at least up to a point.

Truth is, money, to a certain extent, quells financial fears and allows for increased satisfaction in life. It’s definitely easier to find happiness if your basic needs (and maybe a little more) are met. After all, it’s better to cry in a Porsche than on a bicycle, right?! So yes, there is definitely a connection between money and happiness, and don’t let anyone tell you any different. However, and here’s the kicker, research revealed that once your income exceeds a certain amount, more money won’t bring more happiness.

Warren Buffet, CEO and chairman of Berkshire Hathaway, the fourth richest man in the world (worth US$88.9 billion) says that he would spend US$100 million on a house if that would make him happier, instead he is living in the same house he bought in 1958. For him this house is the happiest house in the world, because it has memories. So, the idea that money can’t buy happiness – the mantra of the hopeful poor everywhere – is not without substance.

Unfortunately when we see what others have, it can make us want the same type of life because we automatically assume that a person who has more, has a better life. Although most of us are plagued by the “if only” syndrome, we forget that having a wad of cash doesn’t mean that you’ll attract a more adoring partner or enjoy better friendships. Turns out that money is just a small piece in the happiness puzzle.

So, what does it take for people, (rich or poor) to be happy? As a French thinker put it almost 350 years ago: “If only we wanted to be happy it would be easy; but we want to be happier than other people, which is almost always difficult, since we think they’re happier than what they truly are.” Happy people banish comparison and take pleasure in the successes of others rather than using those successes as a yardstick to measure their own lives.

A rich and beautiful life is about spending your time passionately with the people you love and who love you. It’s about experiences and memories, not about things.

So yes, it’s true that money does make you happy, but only a little. It’s impact isn’t as large as you think. If you have clothes to wear, food to eat and a roof over your head; increased disposable income will have a small influence on your sense of wellbeing.

How much does money affect your motivation to live a happy life? Will you really be happier once you own that beach house?


DISCLAIMER: The information on this website is for educational purposes only, and is not intended as medical advice, diagnosis or treatment. If you are experiencing symptoms or need health advice, please consult a healthcare professional.