Money can’t buy happiness, or can it?

The idea that money can’t buy happiness is a powerful one to many. It is not difficult to find examples where someone who has billions still finds themselves desiring more. If money did buy happiness, then these people should be the happiest in the world. However, if they were truly so happy, why do they only desire more? A proponent of this theory would point to cases such as this, where the rich only desire more wealth, never satiated. Because they have passed the point where money stops being a concern, and are still unhappy, they believe money is the only solution. However, this argument is often applied, not just to the wealthy, but to everyone. When used like this, the argument falls apart.

My family is stable now, but it hasn’t always been this way, and we have been in a few very rough spots. When I was a child, around 2012, my dad was working on his PhD, and my mom was home with two children: me and my sister. This time was extremely stressful for them, and while I didn’t notice this at the time, looking back, it’s obvious. Our TV was old, our house was near a sketchier neighborhood, and our cars weren’t the greatest. Living off the PhD stipend given to us by the university wasn’t easy. While I remember being happy at this time, my parents almost certainly wouldn’t like to return. Our finances severely constrained what we were able to do, with vacations few and far between. In this case, while we weren’t going to starve, more money could have drastically improved our situation, leading to a happier experience.

I have also found this true for myself. While I don’t have the financial burdens of bills or a car payment, I still had a job. This newfound money allowed me to do activities on my own. Finally, I could shop without my parents needing to approve every purchase. However, as I worked more, and gained more money, I found that the happiness was not coming from spending the money, but rather from feeling like I was participating in something productive, and using my time well. At a certain point, it almost became meaningless what the number was, as most of it went into savings. Because I already had everything I needed, having money was fun, but didn’t significantly affect how happy I was. However, this would all change if I had bills to pay. The job that I have had would be just barely enough to cover living expenses. I don’t think I would be nearly as happy if I was living on the edge like so many in America do.

Considering all these arguments, I would say that while money can’t buy happiness, having enough of it is required to be happy. Some might use this phrase as an excuse to justify the worse quality of life for those making less, and that is possibly the worst interpretation of the phrase. It is easy for someone who doesn’t need to worry about finances to say this to someone who does. However, the other extreme also holds true. Those with enough money to do anything they could dream of seem to only desire more. They do not seem satisfied with how their life is, despite it being better than nearly anyone else. Their wealth has not bought happiness, despite their best efforts to make it do so. So while the thought that money doesn’t buy happiness holds true for a few, in the vast majority of cases, a person would be happier if they earned  more money.