Does Money Make Most People Happy?

 

Introduction

It is almost evident that money makes most people happy. It is an apparent truth for all of us. However if we consider the different tastes of happiness,then it is debatable whether money actually makes us happy on most occasions or not. There is a saying of conventional wisdom that money cannot buy you happiness. Some popular research work done since last decade shows that people have a propensity of feeling happy with more money they make until a point of time they reach $75,000, every year,at par. However a new study conducted by University of Pennsylvania shows that the wellbeing of people rises with the amount of money they make which even goes beyond $75000 (Ahuvia, 2008). Therefore human happiness is inextricably linked with the amount of money earned. When happiness is measured by experts in their research work, they considered the emotional well-being of people for their kind of feeling on a regular basis and their rate of satisfaction in their overall life. In this case sometimes money has a great role to play and sometimes money does not have a grateful to play. However in this research work will inform first the way in which the presence or absence of mod money makes people feel. The impression of ancillary factories along with presence of money will not be taken into account.

Discussion

People nowadays have the smart phones which exam to check their happiness index throughout the day. There is an application which conducts in this experiment with people. This social experiment revert aid responses from people like how they feeling at the moment or how they will feel with their general life. The finance has been based upon significant data collected over large number of years. Other than money the only potential element to which determines happiness or sadness of people is their relationship with other people. However the data outcome of this research highlighted that all kinds of welding of people continue increasing with increase in income across a variety of income level (Miñarroet al., 2021). The previous Killing worth research was proven polls in this case as the happiness index did not specify when the income range reached the limit of $7,000. At the individual level German assignment help, demonstrates that people can their life style potentially more genuine as that once in their career growth. There is no ceiling of monetary index which can measure maximum happiness rate. More money always has the capability of making people happier.

Difference From Rate Of Satisfaction

The previous research work conducted the regarding money and happiness emphasizes on the overall level of satisfaction of people. In this regard it can be articulated that the research emphasized on the ability of people to accurately remember about how they have been feeling at different moments in the past and accurately integrates such moments into a individual estimation actually makes it impossible for them to remember how they have felt when they have had the money in their pocket (Allik            et al. 2018). Nevertheless if we look at the feelings of people from a third-person perspective with at every moment of their life including the experience of their well-being and evaluate the lives of people at pause and reflection we will realise that money has exclusive capacity of making people happy. In this regard is realistic example can be provided? Given the global pandemic situation it was the propensity of earning more which make people happy (Frijterset al., 2020). Income method is so much as said by Free assignment help experts that even the slightest of higher income provided with a sense of security and happiness. In this case the experience of well being was also concerned. For evidence the people who were having financial cushion able to ride out a period of unemployment and if they were having a high paying job it was more likely that they would be able to work from home and keep their job in the first place and all these elements would provide them with greater agency over their life.

Hand(2018), that income is one of the individual factors to impact the happiness of individual people. However it is not the most important one. This research study has also clearly articulated that there are other elements which determine the overall happiness index of people. However it is important to debate whether there are other factors which can overemphasize the elementary happen is provided by money in the lives of people (Hand, 2018). Large number of people directly feels that money has the biggest viability in the lives of people to determine how they will feel and think or realise. In fact researchers argue that there are very important factors other than money which contribute to the happiness index of people who stop social relationships can be counted as one of equal potential factors or even more potential in comparison to money to make people happy (Mogilner, Whillans and Norton, 2018).

Connection is another important factor which contributes towards sustainable happiness. In order to understand how these elements make people happy this important to understand how earn money fit into our perception of success. Most people associate extra weight with money in purview of the expectation that it will make them happy since it allows us to purchase materialistic things which has emotional and immediate connectivity with our sensibility (Cummins, 2018). However when people were asked to what extent do money indicate happiness or success in their life many of them brought about the composition of money with the various other factors and incident and these factors exist only in their lives and they also provide them with equal cells of accomplishment and the success (Ahana and Sameera, 2020). Studies conducted by various research articles dated that when people got a job which has meaning of significance in the life they were also equally happy.

Regardless of the kind of money they are a job which substances a Passion of people make them happy. Therefore the debate always remains whether the value of people is the happiest or the people who prioritise other elements in life in comparison to money are actually the happier lot. However the question is that almost all researchers have obliged by the fact that some additional savings in the account can always increase the life satisfaction (Miñarroet al., 2021). In this regard to various researchers and online assignment help professional articulated that is not important to emphasize on working harder for dedicate the talent and potential of an individual towards earning money with a greater effort. People simply need to plan their savings and expenditure which will generally e account for their happiness as they will always be limited yet readily available liquid capital in the hands of people. At the individual level it demonstrates that people can their life style potentially more genuine as that once in their career growth (Ahana and Sameera, 2020). There is no ceiling of monetary index which can measure maximum happiness rate. More money always has the capability of making people happier.

Again, if we do not take a break from our expenditure then no amount of money will be substantially in order to determine our happiness. We will always have one or the other way of spending money order to promote and it gets happiness and as such no experience or time or investment will make us happy after a point of time (Ahuvia, 2008). It is from this perspective that the initial research article dated that people do not have the capability of being happy after they have reached the mark of 75000 dollars of earning. The choices of expenditure can promote having is rather than the amount of money invested into the effort. It depends also on the individual kind of personality and individualized advices across people to spend money or associate happiness with money (Frijterset al., 2020). If there are empathetic people who make others understand the value of life and the limitation of money in providing sustainable happiness then they gradually tend to turn to other things like love or mental peace or some hobbies in order to be happy. On the contrary if people grew up in an environment where monetary well-being is given the maximum priority then they also end of chasing money and they also have money to determine the major part of their happiness index.

Prioritising Money Over Time

All of us have sacrificed our free time in order to make more money at some point of our lives or the other. However new research findings demonstrate that giving more priority to money over time can actually reduce our happiness. In a recent study about 1,000 graduating students from British Columbia University completed assignment which measured whether they have the propensity of giving more value to money or time over money. In this regard the maturity of students highlighted that the give more priority to time but the priority is gradually shifting. About 40% reported focusing more priority on money. Hence it is to note that there is a mass proposition around the happiness being provided by money when people perceive others to do the same (Lane, 2017). It implies that there are a large number of other influential things which can give us happiness. However most people are the victim of a social taboo, which makes them think that their interests, perceptions or tactile sensibilities are not worthy in the face of money as a priority. This is the reason why when they any other individual to give more priority to money in comparison to other elements they immediately changed their opinion. This is how the popular opinion around money being the most sensitive element in determination of my happiness for maximum number of people, gains popularity. Get more about social impact of capitalism from cheap assignment help professional of SourceEssay.

However in order to understand how the students giving priority to time in comparison to money could actually contextualize with their cognitive and emotional well-being A measurement was down when students over voluntarily asked before their graduation and one year after the graduation how happy they were in the lives. In this case the students were asked to rate their happiness on a scale from 0 to 1000 indicated not at all happy and 10 implied extremely happy. The researchers were able to discover that the students who gave more priority to money when not as happy as those students who emphasized on time being the more crucial element in comparison to money (Hand, 2018). The results remain the same when the other factors like their socio-economic background were considered. It is important to note that people from shallow social economic background would be naturally at head towards money. Nevertheless in this case a great summarisation can be reduced.  As said by assignment maker Money is always working some or the other place of importance in our life as it is the most important derivative factor to satisfy our needs. On the contrary there should be a greater driver among people to be happy rather than only earning money to fulfil our needs. In case of student it is giving priority to time and making their efforts count for every minute every second which actually enables a achieve greater prosperity or greater success (Cummins, 2018). In this case it's not only refers to getting greater job which pays more money. On the contrary it is the art of estimating the priorities of life at a given time frame which is the present time in comparison to money. Money will be contextual for a student who is currently studying his last professional course and expect to get a job and on the other hand it will also be a pivotal and determining factor when they have already got the job.

Another recent study has been conducted in UK by surveying about 500 people to show that the amount of money that we witness in your account and as bank balance has a direct impact on our happiness index. The people who constantly see a depressing low amount of money every time they go to the bank has the propensity of feeling more dense and dreadful. In this case the good news is that development of small cash reserve can make a difference and if it is true for people who are trying to escape debt as well. There is no doubt that the idea of saving cash given by small amounts is intermediate in our mind (Lane, 2017).

We always have the anxiety of how we can cut back on expenditure or create a budget plan or make some small sacrifices in order to save the small amount of money. However there are still some people have been able to clarify in order to find happiness. They simplify the situation by understand whether the things they buy are important for their survival or not. They also considered whether the expenditure actually contributes to the happiness or not. They have different from making the expenditure if the answer to the second question is a big no. It is imperative that people should then take a break from their expenditure if only for a few weeks. The researchers were able to discover that the students who gave more priority to money when not as happy as those students who emphasized on time being the more crucial element in comparison to money.  Ask for write my essay professional to get well written tuition assignments.

The results remain the same when the other factors like their socio-economic background were considered (Font and Powdthavee, 2021). It is important to note that people from shallow social economic background would be naturally at head towards money. However if they then happy then they should go ahead and enjoy it without limiting themselves. The complete focus is on making the correct expenditure and rational expenditure to bring more happiness likely.

Right Way To Spend Money Makes People Happier

A survey was conducted among the loan applicant sign it was demonstrated that 80% people who are under the age of 30 reported that they were able to drive more happiness in comparison to purchase an experience like tree for concert or special meal menu in comparison to bind material things the gadget are closed. In this case about 62% of the respondents belonged to the generation is it for the millennial generation. It is easy to get sucked into buying things partially as it is easy to compare the immediate happiness those items in the first place. In this case one of the respondents was perfectly happy with her new iPhone 8 received a text message on a phone which offered her iPhone 11 (Xun, 2021).

In this case there was no down payment involved with the process. She immediately tried to look out the loopholes of the iPhone 8 thinking that it has been the elder version and their help slide scratches at the age of the phone followed by some on the phone body because of its falling down from the night stand and so on. This is not an uncommon behaviour (Steelet al., 2018). The research highlights that when there is option for a desired upgrade that people gradually become care less about the existing product. The fact that the material things are used to compare helps in exploring why these are often answering is fine. After all the iPhone 11 am I not look very good after there is a scope of greeting iPhone 11 Pro Max upgrade. On the contrary experiences cannot be easily compared (Cabanas and Illouz, 2019).

Experiences are also difficult to earn like money. Social experiences are there for people who have a lot of responsibility on their head. The modern economy makes it easier and affordable for us to purchase free time. Expenditure of money on the time saving services have been perceived to be indigent provided the current economic condition (Lee and Dewhirst, 2019). However after conducting a survey with 15000 Americans in the middle of the covid-19 scenario it was identified that people who reported purchase in time like a saving their travel time by purchasing more expensive process from closet grocery store executed about 10% higher satisfaction towards life in comparison to those who did not do the same. It is remarkable that this relationship has been considered to be true for people who make above 40000 dollars every year (Xun, 2021). Therefore there is a strict debate between with the time or money is a more valuable asset for people. In a recent study conducted in the year 2017 about 60 working at else for received $40 to make expenditure for time setting purchase did purchase all we can do with that time. Another weekend the same individuals got another $40 to spend on a material thing (Clark, Krekel and Layard, 2019). In comparison to buy a material thing the people who were provided with $40 at first to buy a weekend exhibited the propensity to be the same thing. Figure out much detail from SourceEssay online essay help experts.

Conclusion

It is important to note that all the above mentioned the discussion and case references have their own limitations as the expenditure related choices can promote happiness all the depending on the unique personality or circumstance or mind set of people. The kind of people who are introvert or extrovert can also determine the rate of happiness for specific kind of option to make expenditure. In this regard it can also be educated that the studies are subjective on the basis of the kind of condition to which they are exposed to. However any kind of expenditure people feels happier after pursuing the next chapter of research on expenditure and happiness. People can nowadays utilise expenditure on big data and machine learning to move on population level expectation recommendation and getting more individualized help on making on a rational basis which can actually impact their happiness index.

Reference List

Ahana, S.S. and Sameera, M.S.T.N., 2020. All had grown accustomed to this arrangement, not just the family but Gregor as well: they gratefully accepted the money, and he was happy to provide it, but the exchange no longer felt particularly warm (Kafka 22).

Ahuvia, A., 2008. If money doesn’t make us happy, why do we act as if it does?. Journal of economic psychology, 29(4), pp.491-507.

Allik, J., Mõttus, R., Realo, A. and Rozgonjuk, D., 2018. What makes young Russians happy and satisfied with their lives?. SAGE Open, 8(3), p.2158244018803136.

Cabanas, E. and Illouz, E., 2019. Manufacturing happy citizens: How the science and industry of happiness control our lives. John Wiley & Sons.

Clark, A.E., Krekel, C. and Layard, R., 2019. CEP Discussion Paper No 1658 October 2019 A Happy Choice: Wellbeing as the Goal of Government Paul Frijters.

Cummins, R.A., 2018. The golden triangle of happiness: Essential resources for a happy family. International Journal of Child, Youth and Family Studies, 9(4), pp.12-39.

Font, J.C. and Powdthavee, N., 2021. Does Money Strengthen Our Social Ties? Longitudinal Evidence of Lottery Winners.

Frijters, P., Clark, A.E., Krekel, C. and Layard, R., 2020. A happy choice: wellbeing as the goal of government. Behavioural Public Policy, 4(2), pp.126-165.

Hand, C., 2018. Do the arts make you happy? A quantile regression approach. Journal of Cultural Economics, 42(2), pp.271-286.

Lane, T., 2017. How does happiness relate to economic behaviour? A review of the literature. Journal of behavioral and experimental economics, 68, pp.62-78.

Lee, W.B. and Dewhirst, T., 2019. Happy Brands and Ethical Implications. In Ethical Branding and Marketing (pp. 125-142). Routledge.

Miñarro, S., Reyes-García, V., Aswani, S., Selim, S., Barrington-Leigh, C.P. and Galbraith, E.D., 2021. Happy without money: Minimally monetized societies can exhibit high subjective well-being. Plos one, 16(1), p.e0244569.

Mogilner, C., Whillans, A. and Norton, M.I., 2018. Time, money, and subjective well-being. Handbook of well-being.

Steel, P., Taras, V., Uggerslev, K. and Bosco, F., 2018. The happy culture: A theoretical, meta-analytic, and empirical review of the relationship between culture and wealth and subjective well-being. Personality and Social Psychology Review, 22(2), pp.128-169.

Xun, L., 2021. A Happy Family. In Diary of a Madman and Other Stories (pp. 255-263). University of Hawaii Press.