Money or Happiness. Can You Have Both?

Money and happiness

Most of us will spend our entire lives chasing money, continuously striving for more of the stuff. Now when you put it like that, it sounds like a never-ending and strenuous journey. Alternatively, what if we try to constantly hunt happiness? That appears to be a more attractive offering. Although you may have already decided which you hold in higher regard, ultimately we all want both. We often require a serious perspective shift to achieve happiness and this can be a result of creating a healthy relationship with money, amongst other things.

What does an unhealthy relationship with money look like?

An unhealthy relationship with money could be defined as, always worrying you do not have enough money, feeling guilty when you spend money or spending it carelessly. For some, a healthy relationship with money is easy but for most people, that is a far cry from the truth. It is predicted that:

'Millennials are 4 times as likely to have unhealthy relationships with money than people aged over 55'.

There are so many reasons that this is the case, the cost-of-living crisis or the horror stories we hear about getting onto the property ladder but mainly the huge amount of products and services available to us, that can fuel our overconsumption and spending habits.

Can money buy happiness?

This is a question most of us will be asked at least once throughout our lifetimes. I think the answer to this question will change throughout one's life, dependent on what their financial position might be. There is an association with how financial security increases a person's well-being and fulfilment due to the opportunities it can provide and the sense of control over one's life it will give. However, after the point of financial security and plus a small discretionary income, more and more money will not categorically make you happy. Other things become more important.

When I was younger and thought of what I wanted when I was older, all I could think of was the coolest house and the trendiest clothes. Which I would argue would make me the happiest and this would be as a result of having a lot of money. The realisation that changed my perspective on money is feeling happy as a result of relationships and sharing experiences. You become so rich when you cherish experiences and relationships. I am aware this is not the case for everyone and some people have toxic relationships with people, but focusing on those ones that aren't, say a family member, a friend, a boyfriend, a classmate, or a work colleague, could alter your happiness.

So maybe the most important thing to take away from this is to make a conscious effort to create a healthy relationship with money and focus on your true personal happiness.

I may not be old or particularly wise but I can say that money is a want and happiness is a need.