Money and HappinessIs financial security the key to happiness?

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ask996 | High School Teacher | (Level 1) Senior Educator

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Financial security is not the key to happiness. Look at the many number of people who are considered wealthy exchange spouse frequently. Look at the rich "heirs" or "heiresses" who have everything money can buy, and yet they search for validation through drugs, alcohol, promiscuous sex. Financial security might remove a lot of stressers for some, but for others it piles more stress on.

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dastice | Elementary School Teacher | (Level 1) Assistant Educator

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While financial security does not guarantee happiness, it is incredibly difficult to have peace of mind in our society without it.  The stress of financial hardship tends to put a strain on other areas of a person's life as well, making a sense of well-being nearly impossible.

Unfortunately, many people in our society live above their means, regardless of how much money they have.  We can assume that it is unhappiness that causes people to spend money on things they cannot afford in the first place.  People feel they must "keep up with the Joneses" in order to feel better about themselves.  In that respect, unhappiness can, in some cases, be the cause of financial insecurity.  Conversely, people who earn less but who are comfortable with their status will likely be content to live within their means.

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accessteacher | High School Teacher | (Level 3) Distinguished Educator

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Certainly I think financial security can contribute to happiness, but I do think there is a danger of someone leading there life with the sole aim of gaining financial security and never really living in the process. I am probably not the best example as financial security isn't a goal for me - I like to do crazy things and want to make the most of my life instead of just thinking about my pension and starting my life when I hit 65, but at the same time I have made sure that I am educated and qualified to an extent that means I am able to gain money through work. So I guess it depends on your outlook.

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besure77 | Middle School Teacher | (Level 1) Senior Educator

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To me, financial security means feeling comfortable. If something happens where you need money right away, it is there and you do not have to stress about it.

I really wouldn't say that it is the key to happiness but being financially secure definitely helps.

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M.P. Ossa | College Teacher | (Level 1) Distinguished Educator

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Financial Security is not just having a lot of money to count on, but having less expenses or no expenses at all compared to whatever you bring in.

Certainly not having too much expense nor too may financial responsibilities are a much bigger key to happiness since whatever amount of money comes your way can be spent on things you would spend on amusements, and things that ultimately will make you feel and live better.

If advice were requested, mine would be to not become entangled with credit cards, loans, and impossible mortgages, to live sensibly, clear of debt and that ill be a bigger joy than a huge bank account that could be in danger of misuse.

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

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There are many ways to answer this question. First, if you can prove that financial security is not the key to happiness in an easy way. If this were the case, then rich people would be happy, all of them. This is not the case clearly. So, there must be other factors. Also, there are some poor people that are extremely happy. Or consider people that live in poverty stricken countries. Some of them are very happy.

With that said, it would be equally wrong to state that finances mean nothing. The lack of finances can bring great hardships and cause a great amount of stress. A fair opinion would be that finances are important, but not the key to happiness.

In the end, I think what plays a huge role is the society in which a person live. In this sense, sociology helps a lot in answering this question.

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coachingcorner | High School Teacher | (Level 1) Senior Educator

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Financial security can certainly go a long way to achieving happiness, but it is unlikely to be the only key. For example, there are many rich people in the world who are way past being financially secure, being millionaires themselves, but who are desperately lonely, or sick or very aged. Human beings need affection in order to feel secure, as well as money. For some, wealthiness seems to go hand in hand with loneliness - perhaps because a true friend is hard to discern when a person has a lot of money. The other person's motives can often be questionable in terms of true affection or desire for access to a rich person's wealth. However, it is also difficult to make the course of true love run smooth when there is poverty, lack of food, disease or lack of work in evidence. The real key seems to be balance.

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted on

Of course financial security is very important to happiness, but it is not the only thing.  The balance between the need for financial security and other things also changes with one's circumstances.

Now that I have children, financial security is more important than it once was.  I have to be able to provide my kids a good life in order for me to be happy.

But, on the other hand, it is not everything. That is why I quit my full-time job to stay home with my kids.  I want them to have emotional support and happiness as well.

So money is important, but it is not everything.

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giorgiana1976 | College Teacher | (Level 3) Valedictorian

Posted on

When we look towards the future, women who thought a lot more about financial situation, they proved to be less satisfied with their lives, says Talya Miron-Shatz, a researcher for the Woodrow Wilson School of Public and International Affairs in Princeton University. And, contrary to expectations, many of those who had such worries,have no shortage of money, added Miron-Shatz, suggesting that it is not enough to have money to get overall satisfaction.

Even if you get to earn $ 100,000 per year, if you are constantly worried that you may be kicked out, you could lose your health insurance or it simply you will not succeed, then you will not be happy.

Such concerns affect many women with different incomes.

Miron-Shatz has collected around 1,000 women of various ages and incomes and with his research showed that financial security is as important for the study subjects as monetary assets.

Financial stability is very important and it is not greed.

 

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