Today I got to thinking about phrase “money doesn’t buy happiness…” and while it can’t buy things like love, I think having money has a more significant impact on our lives than most people talk about.
A lot of us turned to trading to achieve some sort of financial independence. I’ve read so many intro posts where people talk about how badly they want to help their families and it breaks my heart every time. Partly because I know that a lot of those traders are likely to give up and disappear, always looking for the next big thing for the answer. At the end of the day, we all just want to be comfortable in life.
Anyways, I got to thinking about this today when I found out a big project I’ve been working on might turn out to make me a lot of money. Suddenly, I felt a huge weight lift off my shoulders and felt truly at peace. Trading helps me a lot, but with inflation and everything else going on, two car payments, a mortgage, $330 power bill, loan payments, groceries, and everything else, I often worry a lot. Finding out I may not have to worry about these things made my mood better and I felt happier, I actually sat down and watched Netflix in complete peace. Usually, I have productive anxiety so I can’t sit back and relax.
Do you guys feel like having money has a big impact on the quality of our lives? Has anyone here truly started their way from the bottom and worked up to the top? How would you say your life changed? Anyone here have a lot of money but find that life stayed just as stressful? I think it would be interesting to hear different perspectives on this.
It’ a really good question. I think that money undoubtedly buys happiness cos it gives you more options and a better quality of life. We’d rather eat £35 half-lobster in a restaurant than survive on MacDonalds, right?
On the other hand my daughter has just returned from Cambodia which is one of the poorest countries in the world and was remarking on how happy and content, hospitable and unselfish people in the village were. A type of happiness which is scarcer on Western nations.
On the other hand, when she got sick in Cambodia, we could afford to pay 2600 dollars for a three day admission in the best hospital in the country, whereas if the locals get sick, they can’t afford a hospital…
I honestly don’t know the answer to your question. It would be really interesting to see what baby-pips members from poorer nations think about this.
I consider financial freedom is not having any money to worry about. Happiness comes from within wherever your life journey takes you.
The new generation want everything easy, without having to work for it. I would bet a pound to a penny that the newbies on this site moaning about their lifestyle still posses mobile phones and are seduced by what’s on social media platforms. Just press a button and a whole wad of money will fall into their laps.
You can tell how old I am., but hey, I’m happy wth my lifestyle.
So happy to see almost everyone is so positive about this. Because from young age we hear “Money doesn’t buy happiness” from everywhere, from our parents, relatives to our religious institutions. But in a place like babypips, where traders / people who want to change their lifestyles, who wants to achieve more in life, simply people who search and work to better themselves, the attitude also changes into a positive aspect.
It’s funny the phrase “Money doesn’t buy happiness” almost always comes from people who lacks it. Is that a defense mechanism? something they tell themselves to feel good and out of hypocrisy? I always wonder…
My way of seeing it. Money is very important. Money may not directly buy happiness, but it’s the foundation to happiness. what money really gives is Freedom and choices, One can choose to be happy after making money work for you. or be greedy and continue to work for money and continue to say “Money doesn’t buy happiness”, It’s a CHOICE they made. Had they been smarter and find ways to make money work for them they’ll be happy.
So yes, Money is the foundation, it gives you choices, to live freely and of course happily, but it’s ultimately a choice you make,
They are more grateful for what they have. That’s a great mentality to have, and I think it’s healthy to appreciate what you have, because if you don’t then you’ll never have enough.
Here’s the kicker. Imagine how she would have felt going to the local clinic and the facility looks like it’s short on funding. Would she be thinking, ¨well, I’m just grateful for what I have.¨ Nope. She’d be thinking, ¨oh man, I wish I could go to a better health facility.¨
Going to a lower-end facility would have spiked her stress levels compared to going to a well-funded hospital.
I’m 100% certain she’s grateful for that upgrade. No doubt. And only money can make that happen.
Money CAN improve your quality of life, but only material things. If you don’t appreciate the things you have, you will take the upgrade for granted.
This is a serious issue that everyone should think about and not just in trading terms. It says something about the general expectations from trading that people so often talk in terms of millions - as if anything less than a million is a failure!
But I think one can get a more realistic idea of the role of money (or rather wealth) if one looks at the opposite view, i.e. does a lack of money make you unhappy.
And here we start to see that there is a pivot point in one’s wealth. Above this level life is comfortable and enjoyable but below this level it brings difficulties and frustrations.
This brings us to the words of the old Rolling Stones song:
" You can’t always get what you want But if you try sometimes, well, you just might find You get what you need"
But happiness itself, in my opinion is not based on money, it is based on the presence of core needs such as:
good health
a place to call home
family, friends and pets
security
hope and positive expectations for the future
Money may not in itself produce happiness but it can help to provide and preserve a lot of these basic needs which do produce happiness.
So we actually have three levels here:
Too little wealth stifles our other needs
Sufficient wealth provides many of our needs and our wants
Too much wealth can destroy our sense of value, provide a false sense of security and introduce other forms of difficulties and concerns
I think every trader, as part of their business plan, should have a clearly stated objective regarding what they are aiming to achieve with their trading business. It might be wealth creation, a specific object like a car or a house, a specific regular income, kid’s school fees - or maybe even a million in the bank!
For me, Happiness is something very personal and it has nothing to do with how rich you are. Maybe the meaning of Happiness is different for the person who has money. But it is not necessary that a person having money is always happy. Money can surely provide you with a stable life and fulfil most of your desires that will make you happy. But true happiness comes from within and it has nothing to do with how much money you have.
But also yes, money CAN buy peace of mind which is a huge contributor to happiness. Those who say otherwise have no idea what it’s like to be poor or are in denial. I can’t imagine being happy about not having enough money to buy food for the day or that I’m about to get evicted because I can’t pay rent…
No, Money can’t buy happiness. happiness comes from within. having all the money in the world and things you fancy that too can make you unhappy. isn’t the quantity but quality of life, things and perspectives. you do need to be money smart for you not to worry about money later on in life. you can have it all today and tomorrow be left with nothing. it’s not how much you’re making, how much you’re giving and how much effort you put in to make more or less income. there are things money can’t buy and pay for with cash.
3 times in my life I have been walking the streets with holes in my shoes and nowhere to sleep. But I was younger then and had no FEAR - now I have a house which I own outright and people who pay me to rent rooms.
I am NOT “happier now” - than I was then - life is just different. - ther were times in my poverty when I was extremely happy -
Ther are times now when I envy that devilish spirit !
Money is only important when you are disasterously skint !
Maybe not, but it can buy most things. It can pay for heat in the winter and air conditioning in the summer. There’s a huge difference between going to a cheap dentist and an expensive dentist. Only money provides that. If you have to go to a bad dentist and he just wants to pull your teeth out because he wants to make more money, then you have to wear false teeth at a young age…you might feel a bit sad about your oral health.
Perhaps money can’t buy happiness, but I’d like to try before I commit to that idea 100%.
Obviously it’s to do with different environments/country and their culture here .To feed an empty stomach and clothing are necessities. Even then the fact that we are no longer hunter gatherers all but a few, the complexities of modern life can make people what you call " unhappy"
Things money can buy:
stable housing
healthy diet
better health insurance
car that won’t leave you stranded on the side of the road
clean socks and underwear
friends
Prob happier then too because you had no idea what it’s like to have a comfortable life? I grew up poor and if I look back, I could say money didn’t bother me then but I wasn’t the one trying to feed the family lol. I think having money brings a different set of problems but I’d always take that over not having any for basic necessities.
I definitely think so. Because without money you cannot get a good education, not have a proper job, and not be able to maintain health and take care of yourself. In the modern world, money definitely is the means to happiness.
