Money makes the best things in life better. In the minds of the masses, the more ways they can demonize money, the more validated they feel for not seeking their own fortunes. Instead of seeing the positive ways that money can enhance the most important things in life like our health, family relationships, and friendships, most people would rather scorn money and tell you how it can destroy the things we hold closest to our hearts. Don’t listen to negative people who don’t know any better. The truth is money is not the most important thing in life, but it will make the most important things in life so much better. A pervasive belief of the masses is that building a fortune requires seven-day workweeks, losing sleep and constant stress. If I believe I have to choose between being rich and being healthy, why would I want to get rich? The truth is wealth gives you far better access to world-class healthcare, preventive medicine, and alternative treatments. If you need a specific cutting-edge procedure that’s not available where you live, you simply fly to a place that offers it. Another reason being rich makes you healthier is the elimination of the biggest stressor of the masses: money. The wealthy don’t have sleepless nights worrying about paying their bills. Imagine how much healthier you would be if you didn’t have to worry about money? How much healthier would you be if you never had to wake up to another alarm clock and could sleep as long as you wanted every day? What would be the impact on your stress level if you could afford to fire your boss?
The psychology of making money.
Some people say that money can make life easier and more comfortable. But others say that having a lot of money can bring some problems. Growing up, I saw all the opportunities that money could bring. I saw children who were creative genius waiting to be uncovered but because their families couldn’t afford a decent education for them, they didn’t go far. On the other hand, children who din’t have a lot of potential managed to succeed in life because their parents earned good money and could afford a better education for them. It is challenging to sustain your life without money. While it is not oxygen, money is a critical tool that presents options and opportunities. Even though money can’t buy happiness, I know that it does make life easier. I know what it’s like to have a lot of money and I also know what it’s like to have nothing So, I personally like having money in my account. In fact, I don’t mind being rich at all. I know why I need lots of money. The appealingly reason is that it affords me the opportunity to do good things that I want to do on a very large scale. I love using money in a way that brings me and others joy every day. Yes smiling and being nice to people is good. But smiling while meeting someone’s need is priceless. That’s why I have stopped denying money’s place in my life. I’ve also stopped limiting myself on how much money I should have. I want loads and loads of money. I don’t mind Warren Buffet’s level of riches. The constant negative focus on money can cause hopelessness and make one feel stuck. Thus, this often becomes a self-fulfilling prophesy when you are down and out. If you are still hating on money or people who have it, you need to work on those issues. It can serve you and your values well.
Shocking study: Because it is very hard to live without money, when you’re worried you won’t have enough, you get pretty miserable.
This chapter gives you a quick overview of the relationship between money and happiness. If you have clothes to wear, food to eat, and a roof over your head, increased disposable income has just a small influence on your sense of well-being. A recent article in the Journal of Consumer Research showed that, in general, our feelings for material purchases fade more quickly than they do for experiential purchases. Experiences, on the other hand, appreciate: Your memories of the things you do—vacations you take, concerts you go to—become fonder with time because you tend to recall the positives and forget the negatives. American culture is consumption-driven. The media teaches you to want the clothes and cars you see on TV and the watches and jewelry you see in magazine ads. In other words, if you want to be content, you should own—and want—less Stuff. Because Stuff has such an important role in your happiness and unhappiness , it deserves a capital S. In their personal-finance classic Your Money or Your Life Penguin, , Joe Dominguez and Vicki Robin argue that the relationship between spending and happiness is non-linear, meaning every dollar you spend brings you a little less happiness than the one before it. More spending does lead to more fulfillment—up to a point. But spending too much can actually have a negative impact on your quality of life. The authors suggest that personal fulfillment—that is, being content with your life—can be graphed on a curve that looks like this:. In this part of the curve, a little money brings a large gain in happiness. If you have nothing, buying things really does contribute to your well-being. After the basics are taken care of, you begin to spend on comforts: a chair to sit in, a pillow to sleep on, a second pair of pants. These purchases, too, bring increased fulfillment. They make you happy, but not as happy as the items that satisfied your survival needs. This part of the curve is still positive, but not as steep as the first section.
Summary of main points
Scientists have finally shredded the old saw about money and happiness. Apparently, money can purchase a whole lot of happiness. After poring over data from countries, researchers from The Wharton School concluded that the more money you have, the more satisfied you are with life — and that relationship holds true whether you are a citizen of the United States or of Burundi. What that means is that your happiness is very dependent on the economic prosperity of the country in which you live. As a general rule, the wealthier a nation is, the happier its citizens are. Intuitively that makes a lot of sense, says study co-author Justin Wolfers, an associate professor of business and public policy at The Wharton School of the University of Pennsylvania. Being from a developed country means we have a much easier life. All of this makes perfect sense to Emanuel Maidenberg, an associate clinical professor of psychiatry at the University of California, Los Angeles. Earlier studies on money and happiness suggested that people were concerned only with the wealth of their next door neighbors. By that logic, people in impoverished countries could be happy if they were just a little bit better off than those around them. That conclusion was very appealing to people from prosperous nations, Wolfers says.
Outworking colleagues is a sure way to live the life of your dreams.
What financial decisions are you making today that can improve your circumstances tomorrow?
Let’s discuss.
Visit https://t.co/idg5Oi9Mri to get started! ————————— #Thoughts #KobeFarewell pic.twitter.com/2uUzl5TXPh— Sycamore.NG (@FinanceSycamore) January 29, 2020
How Money Affects Happiness
Everyone wants to be rich and happy. Some people see the direct connection between money and happiness, others consider them to be two different things. In my opinion, money cannot make anyone happy. What is more, money can rob a person of happiness.
Firstly, the more money you have the more negative feelings you excite in your neighborhood. For example, people may envy you for your wealth and use every chance to play a low-down trick with you. Secondly, much money makes you uneasy about its safety. Well-to-do people are always a tempting target for criminals of any kind. Their houses are robbed, their bank accounts are hacked.
It is often the case that no protective measures can help. But there are people who believe that money brings happiness. If you earn a good living, you can buy more things, for example, a luxurious car or house. You can travel all over the world and see a lot of places of.
All this makes your life brighter and more enjoyable. Nevertheless I cannot agree with the reasons of my opponents. The fact is that happiness is what people feel, it is not what they. A luxurious car or house can give you delight for a limited period of time, and then you get accustomed to all your things.
As regards travelling, it makes you tired rather than happy. I feel pity for people who badly need much money to be happy.
1. Money-making strategy: Drive for Uber or Lyft
If you’re new here, doees click here to get my FREE page investment banking recruiting guide — plus, get weekly updates so that you can break into investment banking. Thanks for visiting! Someone had written a long message asking about the trade-offs of going into finance vs. Does the money justify the long hours and the suffering you endure in demanding, high-intensity jobs like investment banking and private equity? But you also need to understand this topic because many of the people you interact with in fields like finance and technology will be wealthy themselves. Finally, if you want to become wealthy one day, you need to start thinking like people who have already done it. Just ask Rocky. As a result, I was very focused on making money — far more so than students without ,oney, and far more so doed most students from wealthier mony. I got into monney high-paying field investment bankingand then quit and started this business, which has become quite successful. If you go into the finance industry and do reasonably well for years, these three conditions represent the most likely outcome for you. I find ways to squeeze in work anywhere and everywhere: on the subway, in the taxi, bettsr even on the ferry when everyone else is getting drunk. I now use toggl. Key Takeaways: This point is why I encourage you to pitch yourself as offering does money make your life better savings to bankers. Seasoned professionals want free timeor at least time for higher-leverage activities, more than anything. These policies cost us money, but they preserve my sanity and also help our readers and potential customers. But as you progress, build contacts, and get real experience, you should become more discerning about the jobs and promotions you pursue.
Comments
Post a Comment