15 Reasons Why Money Can't Buy Happiness

Are you familiar with the phrase money can’t buy happiness? Do you believe in that? Let’s find out and see what it really means?

Money can’t buy happiness is an expression to tell people that you still can’t buy happiness no matter how much money you have. It is a reminder to people who prioritize earning money above all else in their lives. 

But is it really true that money can’t buy happiness? 

In this article, you will know whether or not money can’t buy happiness. And the reasons people have to agree or disagree with this statement.

Is Money The Key To Happiness?

Money is practically used in our lives for food, clothing, housing, entertainment, and so on. We need it to live our lives. The question is, is money the key to happiness? 

That depends on your definition of happiness. 

You can do the things that make you happy, whether it involves money or not. However, keep in mind that working too much can have consequences. You end up getting exhausted and weary. 

You might have made a lot of money, but it’ll be wasted if you don’t take care of your health. So make time for yourself, get some rest, and spend some time with family or friends. This is the same as spending time on yourself and will make you happier.

As with all things, the answer is balance. 

Balance working with resting, and you’ll find that money doesn’t stress you out or is of significant importance to you. It’s just a tool to live your life. 

We all know what money can do, buy you food, things, and let you have new experiences. Which increases your overall happiness for the moment. 

Money may be the key to some things that procure pleasure, but remember, not all can be bought with money.

Though one thing is for sure, money is the easiest way to reach financial independence, which is freedom and happiness for a lot of people wanting to retire early.

Why Do They Say Money Can’t Buy Happiness?

This is what piques the interest of everyone. Why do they say money can’t buy happiness

They say that because there are many things that can’t be bought with money, that bring people happiness. Examples include a loving partner, health, friendships, and more.

If money can’t buy happiness, it still buys things like gadgets, pays your bills, and different stuff that makes you feel better. However, the pleasure from the things you buy with money eventually fades. You’ll feel more content for a while, but that feeling won’t last.

And no matter how many years or hours you’ve worked, you won’t be independently wealthy right away. Many rich people, for instance, are miserable right now, for what reason? They work their butts off nonstop to the extent that they forget to take a break. 

Indeed, becoming wealthy is not that easy, so there are ways to make money that won’t compromise your health and happiness. You just have to find the things that make you happy.

15 Reasons Why Money Can’t Buy Happiness

There are many reasons why money can’t buy happiness, and we’ve compiled 15 of them for you to find out why you can’t confuse cash as the source of your happiness. 

1. Money Only Provides Temporary Pleasure

Every time we depend on money for happiness, it will only last for a short time. For instance, buying the dress you found on Amazon without even considering your budget. You go ahead and buy it. But will it increase your happiness? Does wearing it truly make you happy?

Impulsive vs Compulsive Spending

You may experience joy when you buy it and the first couple of times you wear it. However, that joy won’t last long. You need to buy new stuff in order to get that feeling again. 

Having money to buy things that you want will give you joy, but only temporary. That’s not sustainable for anyone.

2. Money Can’t Change Your Mindset

Your mindset plays a big part in your happiness, and it is something money can’t buy or fix. 

It is something that only you can do. It doesn’t matter what your bank balance is, because having a pessimistic mindset won’t bring you happiness.

3. Money Doesn’t Always Satisfy Your Desires

According to the new study, having more money does not mean more satisfaction. Surveying 1.6 million people from 162 countries, researchers discovered that more money does not eventually lead to greater feelings of fulfillment.

People who are dissatisfied after gaining achievements are on the hedonic treadmill. It means that once you have what you want, you’re not satisfied but you want more. You get used to the current situation and want more, bigger, better. 

People will always want more. They think about what they don’t have and can’t have. As a result, people become bored, irritated, and disappointed easily.

4. Money Can’t Buy You A Relationship

Relationships are one of the significant factors that can stimulate happiness, and unfortunately, you can’t buy that. When we have a special person in our life, we’re more likely to be happy, we are on cloud nine, and they inspire us. 

Focus on building relationships with your partner and friends without taking money into the account, and you will likely be happier in the long run.

5. Money Won’t Buy You More Time

There are a lot of things that we still haven’t done, and when you die, you can’t use your money to extend your life. So pursuing money for happiness can be time-consuming, and sadly we don’t have all the time in the world.

Rather than spending overtime on your 9 to 5 work to earn more money, spend more time with your family, friends, and fun & frugal hobbies. They make you happy, and at the same, you make them happy. 

It’s a win-win situation that does not require money.

6. Money Doesn’t Solve All Your Problems

Money isn’t always the solution to every problem we have. Some issues won’t go away even if you were given a lot of money. Many people see money as a solution to their problem, even if solving the problem actually requires self-healing, love, and others.

Money can’t fix all your problems, but you can. And if you want to live life to the fullest, solving problems without money is the way to go.

7. Material Things Don’t Make Us Happy

Material things provide a fleeting pleasure. Whenever we receive money, gift cards, or coupons, our minds immediately think about the products that we can buy from it. 

Unfortunately, it does not add to our happiness.

Many people may have pretty and branded clothes or drive nice cars but are still not happy. In reality, people go shopping to break free whenever they are stressed, sad, or lonely. It may take your mind off of your problems, but it doesn’t bring you happiness.

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8. Money Does Not Promote Better Health

When having a lot of money, people tend to spend more money on tasty and unhealthy foods. In the society of wealthy people, many of them have poor health, even though they have the best medical care. If they continue to go that path, it will only be a short time before everything else fails.

Regardless of how much money you have, discipline yourself to eat healthily and exercise to prevent unwanted sickness. Take care of your health!

You can even make money losing weight or make money walking. Get motivated to increase your health and live longer.

9. Money Makes You Work More

It’s not just about building your net worth but also when you buy things. Every time you purchase items, your savings take a hit, and what happens when you run out? You have to work more to bring back the money you used. 

The worst case is if you have to pay it off in monthly installments, that means you have to work overtime or look for a side hustle. Remember, the more stuff you buy, the more you have to work to pay it back. 

So don’t spend on things that are unnecessary and bring lasting happiness.

10. Money Is Not Correlated With Growth

Personal development is important for every person. Growing means you improve from your past self as well as change your habits for the better. Spiritual growth is about reaching out to and connecting with your inner soul.

A lot of people are in pursuit of money instead of personal and spiritual growth. Thinking that money can help them grow as a person. 

While investing in yourself can grow you as a person, it’s unwise to rely on cash for your happiness. 

Personal and spiritual development brings more than money can. You develop core values from coping with the trials in life. You will learn more lessons than the different feelings money can show you.

11. Money Means More Expenses

Having a lot of money comes with a lot of responsibilities. And the more money you gain, the more expenses people generally make. 

People may fail to notice this, but when they get a raise from work or their part-time job, their expenses rarely stay the way they are. 

It’s easy to give in to lifestyle inflation. Eating out in restaurants rather than making your food at home or buying new clothes for every occasion, for example. 

There’s nothing wrong with spending some money for yourself to celebrate small achievements. However, when you spend too much, that’s a different story. Keep in mind that the more you spend, the bigger your expenses will be, and more expenses mean you have to work more to gain what you have lost.

12. Money Does Not Free You From Anxiety

To have a high-paying job is a dream come true, and your quality of life may have improved. But money can’t buy you out of the pressure that life gives you. 

Hostile Work Environment

Your worries won’t go away just because you have money. You need peace of mind that money can’t really buy.

As to happiness, that depends on the way you look at the situation. Instead of overthinking it, develop more positive emotions like hope, optimism, and gratitude. These powerful emotions will help improve your health and the way you face any problems. 

13. Money Can’t Give You Peace Of Mind

There will be no peace of mind if you constantly worry about money or how money is the answer to everything. You can be happy whether you have enough money or none at all. It’s your choice.

To have peace of mind is keeping things within perspective. It’s not about having a nice car to go to work or a huge home for a small family. It’s about a car that can bring you to work safely, a house to provide shelter for you and your family. 

The way you look at things is the key to self-development and, at the same time, to happiness.

14. Money Can Keep You Stuck Emotionally

Money can make us do impossible things, especially with our emotions. For example, those who have won the lottery. What happens with them? After they receive the money, they spend it on one senseless purchase after another. That’s because they don’t know how to handle an astounding amount of money.

Over 70% of people who win the lottery end up worse than before they won. That’s a scary financial statistic that still blows my mind. They don’t know how to deal with the money emotionally, and just spend it all. 

15. Money Can Attract Toxic People

While being wealthy doesn’t guarantee you’ll be happy, it does attract people who are after your money. Wealthy people often need to be careful about the people they attract.

Believe it or not, some people only care about getting money out of others. They already abandon their core values and would display immoral behavior to take advantage of you. Be careful who you attract. They may look friendly outside, but once they gain your trust, they will just exploit you as much as they can.

Reasons That Money Can Buy Happiness

If there are reasons why money can’t buy happiness, there are reasons too, stating that money can buy happiness

As Gertrude Stein said, “whoever said money can’t buy happiness simply didn’t know where to go shopping.” 

That might be true because money can give us happiness to some extent. We can buy the things that we want without worrying, paying bills on time, or simply purchase necessities like food and clothing.

Aside from that, here are a few reasons that money can make us happy:

Money Reduces Stress, And No Stress Means Happiness

The more money you have, the less you worry about things that involve money. The less stressed you are, the more you can focus on things that make you happy.

No Debts

Debts are enemies and hindrances to your financial goals. They are the obstacles that you have to settle in order to attain the wealth you want. So the more money you have means you can pay off your debt and be able to build your wealth also.

Money Buys Experiences

Experiences are another way of learning, and it brings us more happiness than buying material possessions. If you have more money in your hands, you can spend it on concerts, family vacations, road trips, and even learning high-income skills to help boost your income. 

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Memories last longer and increase the level of happiness.

Travel Across The World

When you talk about experiences, it’s impossible not to mention traveling. Roaming around the country or the world is the best way to grow outside your comfort zone, meet different people, and learn the culture, traditions, foods, and places. 

A person who has enough money will always try to travel more in their lifetime, discovering new things and wonders can give you a lot of happiness.

How Much Money Do You Need To Be Happy?

When did people earn enough money? Have you encountered someone? If so, let us know. We want to know their secret too on how they did it. 

One of the best money can’t buy happiness quotes that struck me is “Money can’t buy happiness but neither can poverty” by Leo Rosten.

It got me thinking that we can be happy no matter what the financial state. Our happiness lies in us. We are responsible for our own happiness, so you don’t have to wait to be rich and wealthy to be happy. 

You don’t have to restrict yourself just to achieve contentment. Be happy no matter what you have, do things you love, and explore things that bring joy to your life! 

You don’t have to chase happiness. You can create your own.

As A Matter Of Fact, Money Can’t Buy Happiness

We are so attached to the idea that happiness can only be achieved when everything in our lives is settled perfectly, so we pursue it through money. And yet, most of us are still working day and night just to get hold of this fanciful life we are dreaming of.

You spend so much time in your lives to achieve the bank account of your dreams that you realize that you are old, unhealthy, and alone. 

And will your money save you from this?

It will take your most precious time and effort before you can reach the happiness you are looking for. So before you waste more time, start living your life the best way you know. Money can solve and provide temporary happiness, but that’s the only role of money in your life. Money can be a means to an end, but it should not be your ultimate goal. 

Remember not to get so busy making a living that you forget to live.

Money can’t be your source of happiness. It should start with you. 

This article originally appeared on Radical FIRE and has been republished with permission.