Will Having More Money Make You Happy?

By MAD21

I stumbled on an old article at MintLife called, "Why Rich People Aren't Really Happier." In this article, a few experts talked about why those who are 'rich' are really no happier than those living paycheck-to-paycheck. In fact, they are almost more stressed because of the desire to spend. The experts state:

"The ability to imagine — to try to predict our future state of mind — is what sets us apart from less-evolved species. It’s also the very thing that stunts our shot at true happiness.

We assume that a sportier car, a bigger house, a better-paying job, or that dress will bring us joy because, well, they did in the past, right?

Not really, says Daniel Gilbert, a Harvard psychology professor and the author of Stumbling on Happiness....

What’s so wrong with relishing and embellishing the good? It’s costly. Faulty emotional recall makes us do dumb things with our money, like buying cool new stuff that never quite satisfies.

In so many areas, we know when enough is enough. When we’re healthy, we don’t strive for extreme health. After a good meal, we’re sated — we don’t order another filet mignon to augment our satisfaction.

Yet our “pause” button shorts out when it comes to money. The brief pick-me-up that accompanies a raise or windfall (think of it like a caffeine buzz) drives us to want more. We get a raise, spend it, adapt to our improved circumstances, and seek more money, working up a sweat on what University of Southern California economist Richard Easterlin calls the hedonic treadmill."

We all have to realize that happiness truly lives in being thankful for what we already have, with where we are. That doesn't mean we don't strive to be in a better place, but we need to watch our motives. Wanting the bigger house, the more expensive car, or the latest toys are all things that helped cause our economic state today. People living above their means. Looking for happiness in some thing, instead just being happy with what they already have.

So the next time you find yourself wanting to by the next newest thing, stop for a moment and ask yourself, "Can I afford it?" "Do I really need it?" "Why do I want to buy it?" and "Will it still be important to have it in a few months?"