Study: Money Does Not Buy Much Happiness

[sweeps]

Although most people imagine that if they had more money they could do more fun things and perhaps be happier, the reality seems to be that those with higher incomes tend to be tenser, and spend less time on simple leisurely activities.

Study: Money Does Not Buy Much Happiness

[Thrifty Ray]

This is so true, at least in my case. I am living the reverse...rather than more money we now have less money because I became a WAHM last year. But we have more happy times as a family, better meals, I am able to bargain shop, I can chauffeur my daughter to activities (before she wasnt able to participate as no one was availableto take her)....etc, etc...

The added money bought 'things' but what our family really needed was someone to have the time to care for everything.

This has worked beautifully for us....and if you ask (which I often do just to keep the pulse) DH and DD3 do not feel like this was a sacrifice...rather, they feel it was the best thing for us.

[Ima saver]

I agree that money does not buy happiness, but not having enough money to pay the bills does cause a lot of worry!!

[Thrifty Ray]

Great point Ima Saver!

While most can afford to cut some (things?) out of their budget if they are creative and/or keep an open mind, NOT having enough to cover the basics wouldnt be the road to happiness either.

I am so interested in proving the study's validity, I'll volunteer to accept $1.2 million tax free in cash to prove it.

In all seriousness though, I've never been rich by any stretch of the imagination and I do earn more now than I did 5 years ago to be sure but I have less "things" now. Along with shedding the junk out of my life came my new attitude about debt and those two things are what increased my happiness factor.

I once believed, like so many others, that happiness came from shiny things. But the attendant concerns that go with possessions (upkeep, concern over loss, buyer's remorse, etc.) were causing far more fret in my life than whatever illusory joy they provided.

Having a peaceful home with mostly half empty rooms and just a handful of bills has turned out to be a much, much more pleasant way (for me) to live.

Certainly not for everyone, I have friends who cannot fathom living like I do just as I can no longer imagine going back to living the way they are today.

[Broken Arrow]

Originally Posted by rexdart

Having a peaceful home with mostly half empty rooms and just a handful of bills has turned out to be a much, much more pleasant way (for me) to live.

It's not half empty. I prefer to think of it as a decor style called "Eclectic Minimalism".

I was like that when I was married too, not wanting to buy too much furniture. Unfortunate, my ex didn't see it my way. To this day, this is still one of her many complaints about me, because we spent years sleeping on the floor with just a set of mattress and a box spring.

Thing is, I actually like the simplicity and clean look of not having too much furniture. A set of mattress and a small desk is all the furniture this guy needs! (But I admit I also have a small dresser and a night stand.)

[markio26]

money is a tool and it makes life easier...it does not buy happiness... it does bring around friends and family asking for handouts.. however... good for you, thriftyray...family should come first always...

[Ima saver]

I bought my first house at age 21. I had no money for furniture, so we went without until we could save to buy one piece at a time. My mother gave me some old beds, and I was thrilled!! I was just so happy to have my own house!!

Originally Posted by Broken Arrow

It's not half empty. I prefer to think of it as a decor style called "Eclectic Minimalism".

classic, I'm stealing that!

Originally Posted by Broken Arrow

we spent years sleeping on the floor with just a set of mattress and a box spring.

ok slow down cowboy, I'm not THAT bad!


I at least spent 20 bucks on the rails!


but I, like you, do prefer the uncluttered life. most everything in my home has to "earn" its place. if it ain't doing anything and I've not used it in a fair while, it's outta here!

[funnyvalentine]

I think in many cases, it's a case of priorities and really looking at what makes you happy; do the three new suv's make you happy or do you have them because you think you need them. For me, yes, there are things that I buy that make me happy, but every purchase is considered carefully. I drive an 8 year old Jeep but I just spent the money to set up a lampworking studio in my greenhouse. Having a Lexus wouldn't necessarily make me happy, but having a private space to create does; it's all about choices....

[PRICEPLUS]

Happiness is a state of mind that you choose!

[jmjj215]

I read somewhere that it's really a diminishing return above a certain income limit - more money above that point doesn't really buy much more happiness. Those I believe you'd get a big happiness bang for your buck if you went from 30-40k per year, that same 10k'd have a much smaller impact going from 90-100k.

[jmjj215]

Also, a while back gallup did a poll of many different people across many different income brackets and they all said about the same thing: "I'd be happy with just about 10% more or so..."

Jesse I think you are absolutely right.


For my lifestyle, my wants, arriving at where I am now (low 30's) made them attainable but with some strain. 40K would be a "sweet spot" for me to be sure. This all assumes I did not adjust my lifestyle along with the extra money, that of course throws the benefit right out the window.

But I didn't do so on my way to where I am now so I feel reasonably sure I wouldn't going from here to 40k.

[kealina]

Originally Posted by markio26

money is a tool and it makes life easier...it does not buy happiness... it does bring around friends and family asking for handouts.. however... good for you, thriftyray...family should come first always...

markio, i definately agree with you on the first part and the last part... money is not an end but a means to an end, and it's what you do with it that matters... family should be more important than money always...
as long as you're able to get by, which is very important , there are other things in life...


as for the handouts part, it makes me sad to hear you say that.... although there are many people out there ready to take advantage some of us don't... i've had people (including my mom) ridicule me for not taking advantage but you know what? i'm proud of who i am and reading that just made me even more glad... i'm glad that those in my life with more money can trust me not to be like that...

[lrjohnson]

Low expectations can equal MET expectations. And that's a GOOD thing.

When my income went up, my spending did not go up at the same rate. Now, if my pay was cut in half, it would slow my savings but make very little difference in my day to day quality of life and my standard of living. I don't have a lot of things I'd have to give up.

I am absolutely with Rex and Arrow (or is it Broken ?) I love simple, clean, sparse, tidy and plain. So restful.

[Broken Arrow]

Originally Posted by lrjohnson

I am absolutely with Rex and Arrow (or is it Broken ?) I love simple, clean, sparse, tidy and plain. So restful.

You call me cowboy too, lil' missy. YEEEHAWWW!

Ok, that was corny. BA might be easier to type though. May I recommend that instead?

Seriously, although I admit I'm perfectly fine with a spartan set, my real goal some day is to have a nice home with decent furnishings. Yes, I heard it here first folks; a hetero male that actually likes interior decorating.

I basically like the cleanliness and practicality of the contemporary style as a base, but I do think that too many sharp lines aren't very soothing. Therefore, I would juxtapose that with organic elements such as fabrics, wood grained items, container plants. Last but not least, I think people don't emphasize lighting design enough, and I would use that to set the mood and pace of the room.

It's very difficult to even try to articulate what I have in mind, so what I've done is try to find some examples online. Unfortunately, I was unable to find a model example. Instead, I'll provide a few references that resemble what I am looking for.


Starting with this example, one can see that clean and simple doesn't have to look ugly. At least, it's not ugly to me anyway.

Although it's got lots of organic patterns for balance, to me, it still lacks a soothing and "alive" kind of feel. Container plants for accent and mood lighting is what's essentially missing in here.


Next, we have this amazing example of a fantasy bedroom! Obviously, it isn't real, and if it is, it certainly isn't very practical. I mean, the last thing I want to do is have to mow the rug on a regular basis.

However, from a thematic point of view, it certain captures how a bedroom should FEEL for me, though certainly not how it should be.


Finally, we have an example that comes the closest to what I have in mind in terms of feel and even decor style. Clean, simple, and yet, relaxing at the same time.

It's still not close to what I'm thinking of, but it's still a well-executed bedroom in my opinion.

Of course, I would never dream of doing such a thing until I actually have a house, and then, have the funds upfront to furnish a room like that. For now, I can only dream... and save.

[SuzeOFan]

The difference between a rich man and a poor man....

The rich man at least gets to choose his misery...!


But as Mary Poppins so eloquently put it: "Enough is as good as a Feast!"

[CRFSaver]

That first one is the one I have from Ikea. Love it! Except I went for regular side dressers for the storage!