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MONEY OR HAPPINESS: WHICH IS MORE IMPORTANT?

Money is Important than Happiness?

 

When we focus on monetary goals, we run the risk of becoming trapped on the 'hedonic treadmill'

Here's the opening paragraph from my forthcoming book, Your Money: The Missing Manual. It's the sum of everything I've learned during my five year journey to get rich slowly:


"You don't want to be rich and  you want to be happy. Many people mistakenly believe that the former leads to the latter. While it's certainly true that money can help you achieve your goals, provide for your future, and make life more enjoyable, merely having money doesn't guarantee happiness."

Many of us (including me) get wrapped up in the belief that having more money is the key to a better life. But it's not. The key to a better life is increased happiness. For some people, that does mean more money. But according to the research Tal Ben-Shahar shares in his book Happier, most of us would be better served by:

Creating rituals around the things we love to do.
Expressing gratitude for the good things in our lives.
Setting meaningful goals that reflect our values and interests.
Playing to our strengths instead of dwelling on weaknesses.
Simplifying our lives  and  not just the Stuff, but the time.

We're more likely to lead happy lives by putting these principles into practice than by getting another raise at work and  especially if the increased income would only lead to increased spending. When we focus on monetary goals, we run the risk of becoming trapped on the "hedonic treadmill" (also known as lifestyle inflation), working harder and harder to make more and more money. This does not lead to happiness.

SOMETIMES MONEY CAN BUY HAPPINESS

Wealth and happiness aren't mutually exclusive, of course. According to financial writer Jonathan Clements, financial stability improves well-being in three ways:

If you have money, you don't have to worry about it. By living below your means, you can obtain a degree of financial control even if you aren't rich. Avoiding debt gives you options.

Money can give you the freedom to pursue your passions. What is it you want out of life? What gives you a sense of purpose? These are the sorts of things you want to pursue in retirement. Better yet, try to structure your career around something you love to do.

Money can buy you time with friends and family. In fact, Clements says, true wealth comes from relationships, not from dollars and cents. Social capital is worth more than financial capital.

Money is a tool. As with any tool, a skilled craftsman can use it to build something amazing: A meaningful life filled with family and friends. But if you're not careful, if you don't have a plan, the life you construct with your money can be a tenuous thing and  even dangerous.

LESSONS LEARNED

Studies show that the pursuit of money is less likely to bring personal fulfillment than focusing on self-improvement and, especially, close relationships with others. Here are a handful of lessons I've learned during my research into the connection between money and wealth. I didn't come up with any of these ideas; they're products of actual research into what makes us happy:

People who are materialistic tend to be less happy than those who aren't. If your aim is to have more money and more Stuff, you'll be less content than others whose goals are built around relationships or mental/spiritual fulfillment. (Because I'm a perma-geek, I'm always reminded of what Princess Leia says to Han Solo in Star Wars: "IF MONEY IS ALL THAT YOU LOVE, THEN THAT'S WHAT YOU'LL RECEIVE.")

Oversaving does not lead to happiness. While it's important to save for the future (and to cope with current emergencies), research shows that oversaving can actually have a negative impact on your quality of life. If you're meeting your goals for saving, it's okay to spend some on the things that make you happy.

Experiences tend to make us happier than material things. We have different reactions to the money we spend on experiences and the money we spend on Stuff: When we spend on experiences, our perceptions are magnified (meaning we feel happier or sadder than when we spend on Stuff), and the feelings tend to linger longer. And since most of our experiences are positive, spending on activities instead of material goods generally makes us happier.

When we lower our expectations, our happiness increases. High expectations come when we compare ourselves to others or when we're bombarded by advertising.

We come to accept the things we see on TV as "normal", and because we don't have these things, we feel inadequate. Our expectations rise, and before long we're caught up in lifestyle inflation. But if we can consciously manage our expectations and  both financial and otherwise and  we can increase our sense of well-being.

Really, there's only one way to ever be satisfied with how much money you have: You must define how much is Enough. True happiness comes when you learn to be content with what you have. If you don't take the time to figure out what Enough means to you, you'll always be unhappy with your financial situation.

HOW MUCH IS ENOUGH?

Enough looks different to each of us. It's not just different amounts of money, but different types of wealth. For me, Enough is having my home paid off and cash set aside to let me buy books and go out to dinner with my wife once in a while. For you, Enough may mean living in a small apartment but owning a boat and having the freedom to sail for months at a time.

To find Enough, you have to set goals. You have to look inside to find your values. It can take months or years to get clear on what makes a meaningful life for you, but after you've done this, you can make choices that reflect your priorities.

After all, that's why you're doing this. You're not building wealth just so you can bathe in buckets of cash. You're building wealth so you don't have to worry about money, so you can pursue your passions, and so you can spend time with your family and friends.

Remember, my friends: True wealth isn't about money. True wealth is about relationships, about good health, and about continued self-improvement. True wealth is about happiness. Ultimately, it's more important to be happy than it is to be rich.

Money is Important than Happiness?




Lovely Thoughts for Lovely People Just Like You

Short Inspirational Quotes about Life Love and You

 

 

"I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use." Galileo Gelilei

 

 

 

 

 

Quotes about Life

 

 

 

 

 

 

 

Sometimes, a simple quote of a few words has a stronger effect on us than any philosophy book. Such a quote may directly reach our heart and set us thinking. Don't believe it? Take a look.

 

 

 

 

 

 

 

"The journey of a thousand miles begins with a single step."

 

 

 

- Lao Tzu

 

 

 

 

 

 

 

The aforementioned quote is by one of the most popular Chinese philosophers, Lao Tzu (or Laozi). It is found in the classic text Tao Te Ching, which dates back to the 6th century B.C. This simple quote has many meanings; and equivalents of the same are found in many other languages and scriptures in the world. When translated literally from Chinese, it translates as "A thousand-mile journey starts from your feet down there". It can also be interpreted in many different ways. Here are few more simple yet deeply inspirational quotes.

 

 

 

 

 

 

 

Life isn't about finding yourself. Life's about creating yourself.

 

 

 

- George Bernard Shaw

 

 

 

 

 

 

 

A goal without a plan is just a wish.

 

 

 

- Antoine de Saint Exupery

 

 

 

 

 

 

 

Hope is the dream of a man awake.

 

 

 

- French Proverb

 

 

 

 

 

 

 

It's not what you look at that matters, it's what you see.

 

 

 

- Henry David Thoreau

 

 

 

 

 

 

 

Formal education will make you a living. Self education will make you a fortune.

 

 

 

- Jim Rohn

 

 

 

 

 

 

 

Talk doesn't cook rice.

 

 

 

- Chinese Proverb

 

 

 

 

 

 

 

Life is change. Growth is optional. Choose wisely.

 

 

 

- Karen Kaiser Clark

 

 

 

 

 

 

 

Many of life's failures are people who had not realized how close they were to success when they gave up.

 

 

 

- Thomas A. Edison

 

 

 

 

 

 

 

Whatever the mind can conceive and believe, the mind can achieve.

 

 

 

- Napoleon Hill

 

 

 

 

 

 

 

Anyone who has never made a mistake has never tried anything new!

 

 

 

- Albert Einstein

 

 

 

 

 

 

 

The time is always right to do what is right.

 

 

 

- Martin Luther King Jr.

 

 

 

 

 

 

 

Trust yourself. You know more than you think you do.

 

 

 

- Benjamin Spock

 

 

 

 

 

 

 

Inspirational Quotes about Love

 

 

 

 

 

 

 

It will be easier for those who have experienced love or are in love now to know the true meaning of the quotes mentioned below. They will also make you realize that love is the only thing that makes life worth living. Love also provides the necessary encouragement.

 

 

 

 

 

 

 

If you judge people, you have no time to love them.

 

 

 

- Mother Teresa

 

 

 

 

 

 

 

The way to love anything is to realize that it might be lost.

 

 

 

- G.K. Chesterton

 

 

 

 

 

 

 

The supreme happiness of life is the conviction that we are loved.

 

 

 

- Victor Hugo

 

 

 

 

 

 

 

We are all born for love. It is the principle of existence, and its only end.

 

 

 

- Benjamin Disraeli

 

 

 

 

 

 

 

Love and desire are the spirit's wings to great deeds.

 

 

 

- Johann Wolfgang von Goethe

 

 

 

 

 

 

 

Love is that condition in which the happiness of another person is essential to your own.

 

 

 

- Robert Heinlein

 

 

 

 

 

 

 

He has achieved success who has lived well, laughed often, and loved much.

 

 

 

- Bessie Stanley

 

 

 

 

 

 

 

Love has nothing to do with what you are expecting to get, it's what you are expected to give; which is everything.

 

 

 

- Katharine Hepburn

 

 

 

 

 

 

 

Love is always bestowed as a gift: freely, willingly, and without expectation.... We don't love to be loved; we love to love.

 

 

 

- Leo Buscaglia

 

 

 

 

 

 

 

To love is to receive a glimpse of heaven.

 

 

 

- Karen Sunde

 

 

 

 

 

 

 

Love and magic have a great deal in common. They enrich the soul, delight the heart. And they both take practice.

 

 

 

- Nora Roberts

 

 

 

 

 

 

 

Romance is the glamor which turns the dust of everyday life into a golden haze.

 

 

 

- Amanda Cross

 

 

 

 

 

 

 

For those who love; time is eternity.

 

 

 

- Henry Van Dyke

 

 

 

 

 

 

 

Love is great when you find someone to give it to.

 

 

 

- Chris Myrick

 

 

 

 

 

 

 

Love life and life will love you back. Love people and they will love you back.

 

 

 

- Arthur Rubinstein

 

 

 

 

 

 

 

Love is neither true or false, love is love.

 

 

 

- Camilla Saunders

 

 

 

 

 

 

 

Didn't you know that people hide love like a flower too precious to be picked?

 

 

 

- Wu Ti

Inspirational Motivational Quotes on Life Love