It’s Possible to Buy Happiness with Money

How many times you may have heard statements like money is the root of all evil, there are things money can’t buy and therefore there is no virtue in chasing money? Sometimes religious beliefs, philosophy schools, and some thinkers tell their followers not to go after money suggesting desire is the cause of suffering as there is no end to human wants.

It’s true there are things that money can’t buy – love, sympathy, empathy, patience and many other qualitative things. And also many things in life come free –the air, water and sunlight. New research and understanding of human behavior suggest that money is not the problem but our attitude towards it.

Here are some ways to find more happiness with your money:

1. Don’t Buy Things, Buy Experiences

buy experiences

When you earn more money you, have a tendency to spend it lavishly on buying things- a car, a new television, a mobile phone, expensive garments, jewellery, accessories, furniture, etc. Instead, buy experiences- such as a great vacation in a resort, a leisure trip, pilgrimage entertainment activities, golfing or sports.

2. Spend Money on Others

spend money on others

The simple act of giving some of your money to the needy or charitable activity can boost your happiness and self-esteem. A Gallup poll conducted in 136 countries showed that people who donate to charity were happier than those who didn’t. You just need to look at the number of billionaires who have donated a major share of their net-worth to know how satisfying it is.

3. Have Some Money to Save and Invest

save money to invest

There is a saying that you must save for a rainy day as recessionary trends come in quick succession after an economic boom. When you invest judiciously in stocks and bonds, you are helping companies and the economy to grow.

4. Avoid Comparisons with Your Neighbors

avoid comparisons with others in spending

If you spend more on buying things to keep up with your neighbors or friends, you’ll accumulate things and still end up unhappy. If your neighbor has bought a new car every two years recently, you needn’t do it. Or if they have refurbished their house recently, you don’t have to follow suit.

5. Be Grateful for the Money You have to Eliminate Fear

be grateful for u got

When you make more money, you should be grateful for whatever you have attained and this will attract more money into your life, thereby eliminating the fear of losing it. Most often the fear of losing money is a major cause of unhappiness in our lives.

6. Use Money to Learn or Acquire a New Skill

learn a new skill

 When you have more money, you can take a break from your business or work and learn a new skill. It could be race car driving, cookery, dance, a business degree or diploma which you always loved to take but couldn’t due to money constraints. Indulging in activities that are allied to your personality gives long lasting happiness, according to recent research.

7. Disclose Your Income and Pay Your Taxes

pay your taxes

If you have a tendency to hide your income, you could end up with more stress and unhappiness. Evasion of tax is liable to be caught and penalized. On the other hand, avoidance of tax through investment in tax saving instruments can help buy peace of mind and happiness.

New research findings debunk the myth that money is the cause of stress, unhappiness and that it could destroy your peace of mind. Money denotes the monetary equivalent of value created in society. When there is more money in your hands, you have more disposable income to not only improve your lives but also the lives of others.

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