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Start with Challenge Question: It’s an age old saying. Money can’t buy happiness. But can it? Like, actual true happiness?
I guess the question is not so much “can money buy happiness” as it is “what do you consider happiness”?
Quote – “Money can’t buy happiness, but it can make you awfully comfortable while you’re being miserable.” – Clare Boothe Luce
Quote – “Anyone who tells you money can’t buy happiness never had any.” – Samuel L Jackson
For the purposes of this conversation, we are going to define happiness as being able to meet your basic needs, enjoying life experiences and having social ties.
Going off of my boy Maslow, our basic needs mostly can be pretty much be purchased. So money checks the box there.
What about enjoying life experiences? A jet ski is a helluva experience. That cost money. Hiking in the park and enjoying nature is free…minus the mosquito repellant. So overall, that’s free. Disney. Money. Stargazing or beach going (if you’re close to one). Free. Watching movies. A little money. Laughing about your favorite movie with friends. Free.
So it goes both ways there.
So, it is possible to have money buy elements of happiness, but its not necessary. However, it is difficult to say that without basic needs like shelter met, that happiness can be found. It doesn’t have to be fancy, but it has to be safe and reliable. That usually takes a form of money. So I’d give the point to money on this one.
Study
In a study done with over 450,000 Americans in 2010, they seemed to correlate a magical number of income where emotional well-being (defined as spending time with people they like, avoiding pain and disease and enjoying leisure) was $75,000.
Adjust for inflation and that’s about $89,000/household.
This is about the average income where the trend of well-being seems to taper off. The study isn’t sure why but they give a few reasons. But I think I have an idea that they kind of danced around but didn’t hit. LIFESTYLE CREEP.
$89k for a household is just enough to keep everyone comfortable, have a nice house, maybe a vacation or two a year if you watch your spending. But its not enough to significantly upgrade your lifestyle and take on debt that can weigh you down and cause stress.
41% of Divorced Gen Xers say they did it because of financial issues and dating experts say that money is the number conflict driver in relationships.
1/3 of couples say they have lied to their partner about debt.
Why is this? Because talking about money isn’t talking about money. It’s a discussion around values, goals, and priorities because that is what we use money towards!
The more shallow a relationship, the less these things get discussed and can become problematic in moving a relationship forward if those things digress too much.
Now having money means that there is more to be blown and not having enough means that stress can increase. So it’s really more about wealth than it is having money.
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About Lifebuilder
The Lifebuilder Podcast helps ambitious entrepreneurs and leaders gain clarity, eliminate distractions, and achieve their goals faster. Each episode gives practical strategies for personal growth, productivity, and building a meaningful life. If you want clear direction, better focus, and proven frameworks to win at life and work, this show gives you the tools to get unstuck and move forward.
