Money and Happiness

 

MONEY AND HAPPINESS 

It is but natural to relate money and happiness as when you shop and don't have to think about putting the item back because you do not have enough money. Money can lead to happiness (when you buy) or unhappiness (when you can't afford to buy). Or take the case of window shopping in Champs-Élysées in Paris looking at Hermes, Chanel and thinking wish you could afford it. Thus, we are wholly wired to thinking Money and Happiness are one and the same. But is that true.

Think of a family where wife is cooking with leftovers and children playing with home-made toys. They are also happy as they have no desire to compete and day to day needs are met.

Thus money brings happiness only if you have the capability to hold the amount needed to buy something you wished for. You may not buy the item, but the fact that you can afford the item, brings you the happiness because of money.

 I will again go to an example:

Imagine a family earning $10,000 or more a month. They have certain aspirations and lifestyle to live. Their income goes up to $20,000 a month. The aspirations increases and purchases increases and expect the good life to continue. Thus, as aspirations increases one can notice a significant decline in happiness as they are used to that lifestyle and any decrease in per month will cause them immense unhappiness.

Another family earning $1,000 per month. Their aspirations are not high. They are happy with what they have probably living in a small flat and just about managing their day-to-day life. Their happiness level is better as they have no aspirations.

The two examples show that mere Money does not bring in happiness as in first case despite having money there is a fear of losing it and staying poor, while in 2nd case they are not worried as they are living at the bottom of the pool, and it can't get much worse.

Or take another example:

Siddharth Shankar, an Indian-origin entrepreneur who sold his business for $500 million,Mr Shankar revealed that he found the transition tough after selling his company, mainly because he missed having a daily routine. After 15 years of being constantly engaged, he struggled with the sudden lack of purpose, joking about the limits of leisure activities like PlayStation and golf. He found it hard to switch off from his entrepreneurial mindset.

"How much PlayStation can one play? How much golf can I play? What more can I do? It's not that easy to switch off," he explained.

He has huge amount of money but no happiness

Many in Gulf, stay in a shared accommodation or small flat to save and build a large house to stay after retirement. The thought is I will enjoy after I retire. They are sacrificing today for a hopefully better tomorrow. Another may have a different view. Since I am going to spend a large part of my time here, I may as well enjoy life and manage with what I have in my little part of life after retirement.

Which is right? No one knows. Both, in their own ways are right. Saving money or spending it. Thus, for one holding money gives happiness, while for another spending it. The issue comes only if the huge house is a liability as due to old age and the lower physical fitness does not enable to enjoy the house. In case of the other having lived in a big flat, now going back to staying in a smaller one becomes an issue in old age.