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Money Can’t Buy Happiness Essay | Essay on Money can’t buy Happiness for Students and Children in English

February 14, 2024 by Veerendra

“Money Can’t Buy Happiness” Essay: The problem with the saying, “money can’t buy happiness” is that it’s only partly right. When we think of spending money typically, we tend to think about spending money on things – a new car, a new TV, the latest sound-cancelling headphones and so on.

However, as human beings with sophisticated minds, over time, we often adapt surprisingly well to new changes in our world.

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That new TV we have wanted for so long after a few months is just a TV to us as we have gotten used to the higher clarity, better audio, and the 4K resolution. That new game out in the market, which we will spend a lot of money on, will soon get boring and we will eventually stop playing it. People often equate money with happiness, but that may or may not be the case depending on the context and situation.

Below are given a few examples of long and short essays concerning the topic.

Long and Short Essays on Money Can’t Buy Happiness for Kids and Children

We have provided a few sample essays on the mentioned topic. There is one extended essay of 500 words; a short piece of 100-150 words; and ten lines on the subject of money not buying happiness.

Long Essay on Money Can’t Buy Happiness 500 Words in English

Such long essays are usually helpful for students in classes 7, 8, 9, and 10. They are asked to write these essays for assignments and exams.

We often think that our lives would be so much better off if we just had more money. For example, “that person in my class has the brand new Playstation. I wish my parents were that rich to buy me one.” or “That person has a nice looking Rolex. If only I had the money to buy one.” “If only I had the money to buy a new car.” Hence, the list goes on. But what we take for granted is that once we have enough money to buy that item, we get bored of it and desire something new.

Psychologists call this the “Hedonic Treadmill” – New things always become “old”, and they need to be replaced with newer items.

Another factor we’re not going to be happy with buying things is that we want to compare ourselves to those around us – our families, our friends, celebrities, advertisements, etc.

When we see some new advertisements on TV, we feel like we have to buy it as a celebrity endorses it. When we open social media, we see photos of our friends and relatives who have gone for vacations and trips, and we feel we need the money to go on a vacation to enjoy ourselves as that is the only way to spend time with family properly. But what we don’t realize is comparisons are often insidious and harming, especially if we see ourselves at the non-receiving end.

What we should keep in mind is money always begs for more money. Of course, the main aim of a modern lifestyle is to get a proper job and earn wealth, but making earning wealth the sole purpose of one’s existence is dangerous and harmful. One will never be happy and peaceful and will always yearn for more wealth. He/she will never be satisfied. No amount of wealth can be seen as “enough”. If one’s sole purpose is to accumulate wealth to spend on material goods, then he/she will never be satisfied with their life.

Greek Philosopher, Diogenes says, “He has the most who is most content with the least.” This means that when a person appreciates and knows the value of his earnings, and does not take it for granted, and takes care of it properly, he can be happier than the wealthiest person on Earth.

With this being said, there are ways in which you can utilize your money more happily and healthily; Instead of wasting money on material goods, spend your accumulated wealth on road trips and vacations, picnics, family outings, etc. Getting out of the house and getting the experience of the outside world will have a positive impact on your mental health. Visiting new locations, be it solo, with friends, or family will boost your morale as you visit new places and meet new people, giving you new experiences and will teach you how to use your money carefully. If you have enough money to spare, you should donate some money to charity to help those less unfortunate. Not only will you be doing a good deed, but acts of charity will also teach you to be empathetic towards others.

All in all, the bottom line then is whether money buys you happiness or not is entirely dependent on how you choose to spend it.

Short Essay on Money Can’t Buy Happiness 150 Words in English

Such short essays are usually helpful for students in classes 1,2,3,4,5, and 6. They are asked to write these essays for assignments and exams.

We often think to ourselves, “If only I had the money to buy the PlayStation.”.” If only I had the money to buy a new car”.

Of course, the main aim of a modern lifestyle is to get a proper job and earn wealth, but making earning wealth the sole purpose of one’s existence is dangerous and harmful. We started equating our success to the material things we own in comparison to others.

There is always the question of “Who has the latest iPhone?” If one’s sole purpose is to accumulate wealth to spend on material goods, then he/she will never be satisfied with their life. There will always be a desire for something newer once the “new” becomes “old” again.

10 Lines on Money Can’t Buy Happiness Essay in English

Focussed on making as much wealth as possible, you may lose the time available at hand.
Buying things for personal consumption may feel rewarding at first. But using that money for a cause other than personal gain will help in growing a positive personality.
Money cannot buy authentic relationships like friendship, love, etc.
Everything isn’t about money, it’s the little things in life that matter the most.
Money cannot buy time, so use your time wisely.
Money cannot fix broken relationships.
Addiction to earning money can cause severe mental stress.
Money can seem to be “never enough.”
Materialism can become an unhealthy obsession.
Money alone cannot buy peace of mind.

10 Lines Essay on Money Can’t Buy Happiness in English

FAQ’s Money Can’t Buy Happiness Essay

Question 1. Can money buy happiness?

Answer: Whether or not money buys you, happiness depends on how you chose to spend it. Always hoarding money will cause more anxiety and mental stress. Spending money in healthy ways like, for a vacation, or charity, will help you establish a positive and healthy mind.

Question 2. How to be happy with less money?

Answer: Of course, money is a necessity, but life should not solely revolve around the material gains it brings. If one can refrain from spending money uselessly on material goods, he will be much happier.

Question 3. What is the best way to utilize money?

Answer: Refrain from too much materialism. Instead, spend some of that money on trips with friends/family, charities, etc., as they help you refresh your mind, and help to maintain good mental health.

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Essay on Money can’t buy Happiness for Children and Students – CBSE 2023

Table of Contents

Happiness is an emotion that we discover inside our own selves as human beings. An object can make a person happy for a short while but happiness is for a lifetime. If somebody thinks money can buy happiness then that is not true happiness.

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Target Exam ---

Money is given huge importance and the simple things which bring us true happiness are often overlooked. One of the things that give happiness is love. It does not cost anything but can fill your life with happiness. This feeling cannot be purchased. It cannot be traded for any amount of money in the world. Generally, people believe that they can make someone feel happy or loved with the help of money, and perhaps they can but only for a while.

Long and Short Essay on Money can’t buy Happiness in English

Here are essays of varying lengths on the topic Money can’t buy happiness. You can select anyone you need:

Money can’t buy Happiness Essay 1 (200 words)

In general, Happiness is a difficult word to define. The way of measuring happiness is different for everyone. Few people trust that money can buy happiness, whereas others disagree. According to me, although having lots of money will surely provide us lot of ways to entertain ourselves but it can’t buy love and happiness.

Money can’t buy love and a happy life comes from having good friends and family who care about us. Our life becomes meaningful and happy when we are around loved ones. For example, I have read an article about a famous actress in Bollywood who died due to depression and was all alone during her last days. She had been a really popular actress because of her beauty and acting skills. Even though she was earning a huge fortune every year, she was not happy as she didn’t have any close friend or family who could take care of her. Whereas I have seen people who have a happy life without money because they are surrounded by people who love them and care for them.

In most cases people have to work hard to earn lots of money and due to which they have less time for their social life. Many businessmen work 6 days a week and earn good money but they don’t have the time to spend that money and remain stressed. People have money but if they don’t have the time to enjoy their life than it is worthless.

Money can’t buy Happiness Essay 2 (300 words)

Introduction

This term happiness can be well explained by the happiness model. It is quite simple; Happiness refers to a greater presentation which can bring greater rewards. Let’s take a look at the Happiness Model:

The Happiness Model

According to this model, if you love what you do then it is obvious that you will be keen on knowing it better and will have a better clarity on the subject. With this clarity, you are bound to perform better which lead you to success and thus the reward attached to it.

A Psychological study has revealed that bigger happiness, comfort, and positivity can show the way to better performance. Whatsoever activity one is undertaking, he is sure to be successful when he is in a state of happiness. It enables him to perform at a superior level.

What does it bring? It brings the rewards that you are aiming at. These can be both monetary and non-monetary. It can be a simple appreciation from your superior at work and receiving a pat on the back. On the other hand, it may also lead to the achievement of your sales target and attainment of the bonus attached to it, or a greater opportunity of getting a promotion.

The more constant and steady your happiness and optimistic outlook is, the better performance you will have in your pursuit.

A person will be more productive and more successful in whatever work he is doing if he is coming to work with excitement each day. In your personal life, it is not different.

You will reap the reward if you do what you love. You will generally perform better and will not only be more wealthy in monetary and non-monetary terms but you will also lead a more fulfilling and happy life. There is a world of opportunities. So get out into the world and enjoy what’s around.

Also Read: Essay on Black Money in English for Children and Students

Money can’t buy Happiness 3 (400 words)

A lot of people think that happiness can be acquired with the help of money, or that you need money to be happy. But there are a few of us that still believe that the best things in life are free. Many things that can make us truly happy cost nothing. Friends, family, relationships all are priceless. Such things cannot be bought and that is what real happiness is about. Several people think that material wealth or just plain money can make them happy, or can buy them the things they believe can make them happy.

Money can’t buy Happiness

Our family, friends, and relatives are the people that have been there for us all through our lives. All the memories we have with us were created with them and every story behind our bumps, bruises, embarrassments, dating experiences and all other extraordinary events is known to them. No amount of money on the planet could pay for that. Memories are formed and created hence they cannot be paid for or paid off. I have been a family oriented person, so I don’t appreciate why some people would think that money could buy happiness.

Lot of us think of our friends as treasures. A friend is somebody that likes you for what you are and who you are, and they continue to believe in you even when you stop believing in yourself. The friendship which we form is a tight bond and we get emotionally involved with people. Money can’t obstruct with our approach, nor can money buy us true friends. We as individuals would be very sorrowful without friends to tell our secrets to and having a shoulder to lean on when we need it.

I have personally seen people who buy clothes, accessories, food or anything to buy friends. It might work but only for a while and then it just goes to demonstrate once again that money cannot buy happiness.

The finest things in life are indeed free. We may occasionally take for granted the items we have, which are priceless. We might not realize how important love, family, and friends are, but when we really analyze it, we know that indeed the best things in life are free of cost. Money can only buy the materialistic things and relations that last for a short while whereas no money is required for the relations build with heart and emotions. Remember, money can’t buy you happiness but happiness can get you more money!

Money can’t buy Happiness 4 (500 words)

Can you be happy if you have a big mansion to stay, an indoor pool to bathe or a luxury car to drive. Or is it something related to the sense of freedom, love, relationship, and self-realization. There are basically two types of people who think that Money can’t buy happiness – Those who have an excess of money and still find themselves unhappy and those who have never had plenty of money.

What is Happin ess?

What is happiness? Is it pleasure?

Is there any difference between happiness and pleasure?

Happiness is always defined differently by different people. Somebody’s happiness may be a bad fortune to the other. So what is ultimate happiness? It is something which differentiates you from the materialistic pleasures and you stay in constant bliss. You multiply your happiness by helping others, being calm and caring. This kind of happiness cannot be bought with money.

Needs V/S Wants

Life is very simple but we make it complicated. The basic rule of life includes ‘Needs and Wants’. The things which are basics for human survival like food, clothes, shelter etc are the needs. Sufficient money, electricity, education, and transport can also be counted as needs in modern day life. Once a man fulfils his basic needs, he doesn’t stop there, he desires for more. A salary hike, a better home in the city, expensive clothes, luxury vehicle and when he crosses this stage he wants even more like a world tour, a luxury villa and new hobbies like golf, sailing, etc.

So basically wants are never ending and if the happiness is dependent on these factors then it’s really hard to imagine that one will get happiness because he/she will be always indulged in acquiring more and more. It is good to be ambitious and money can be a good driving force to lead a comfortable life but when one becomes greedy and selfish then the ultimate goals of life are replaced with materialistic things. An achievement does bring happiness but for a short span. We work hard for years to achieve something but it vanishes in few days or months.

Is Money Important?

It will be wrong to say that money is not important. Just imagine, you are travelling somewhere with your family. In this journey, your goal is the journey itself and not the destination. That journey with family is the happiness but the fuel required to run the car throughout the journey requires money. If the fuel tank dries, you can still drive it on a slope but that will be risky. Human life also works the same way, money is essential to run the life and it is very difficult to survive without money. You struggle for happiness when earning money is the only goal in your life.

Happiness v/s Pleasure

You can acquire pleasure with money but actually you need a lot of money to buy pleasure. A wise man will not mix happiness with pleasure whereas a common man thinks pleasure as definitive happiness and at the end of the day he may find himself in depression, anger, loneliness but with a lot of money. There are several businessmen in India who earn in millions and can afford pleasures but they get happiness by doing social work and charity and that is the source of their happiness. Mr. Ratan Tata who is one of India’s top businessmen spends 60% of his earning to social service, NGO, and charity.

It should be noted that money is an essential part of modern life and one cannot survive without it but one should not make money as the sole source of happiness. Money can buy pleasures but not happiness and these two things should be kept different.

Money can’t buy Happiness 5 (600 words)

Happiness and honesty are some of the human attributes that cost nothing at all. As it is said, the best things in life are free and there are certain things in life where the currency has no value – like friends, family, and good memories.

True Happiness is Priceless

Some priceless possessions that are essential for happiness but cannot be bought are mentioned below:

An honest opinion from a loved one.
True friends who have your back.
A family you can always count on.
Humour and laughter
Having a positive attitude
Doing a good deed
The first time someone says, “I love you.”
Quality time with your loved ones.
Having someone listen to you intently.
The love of your children, family, and significant other.
Pushing one to achieve something great.

Happiness and Other Things Money Cannot Buy

Clearly, money cannot buy happiness. What else can money not buy?

Love : Money can buy attraction, power, and lust but it cannot buy love. Love is an emotion that can only be felt and experienced. It is something intimate, heartfelt and mysterious.
Truth : Money may be able to buy authority but the truth is most powerful of all. Sometimes money is exhausted to shove beliefs or an agenda and can even be used to generate unfair study to strengthen an opinion. Sometimes, people are able to hide the truth with the help of money but not for long. In the end, no matter how much money is spent on forging the truth it will always be exposed.
Time : You will never get back the time you have spent. Each minute that has passed will never return. Despite so much scientific and medical advancements, there is no way that we can reverse the time or extend our life. No amount of money can turn the clock back so we should live our life to the fullest, work hard and enjoy what we have.
Peace: It has been seen that the wealthier a person, the less peace of mind he possesses. Money cannot buy you peace. Many individuals have spent countless amount of money to establish inner peace and this vast sum of money has never been able to come close to what we could define as peaceful. Peace does not depend on your bank statement. It depends on how you train your mind and set your expectations.
Talent : Money can certainly help you to enhance and develop a talent within you but you won’t be able to purchase talent or skill. Besides inborn talent, there is a zest to learn and gain knowledge to nurture a skill or talent. All this cannot be purchased with any amount of money.

These are all essential components of happiness!

“Money has never made a man happy and nor will it. There is nothing in its nature to produce happiness”. A precious and priceless asset, happiness is something no sum of money can ever buy. It is doubtlessly treasured more than any material item you possess.

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Money Can T Buy Happiness

This essay will explore the adage “Money can’t buy happiness.” It will discuss the relationship between wealth and well-being, examining how and why increased income does not necessarily lead to increased happiness, and the factors that contribute to genuine contentment and fulfillment. On PapersOwl, there’s also a selection of free essay templates associated with Happiness.

How it works

Since happiness is a unique experience, the factors that promote happiness can of course be different for everyone. However, scientific research in the last 20 years has come a long way to identify many common factors that contribute to our happiness. Money (or income) is one of them. When we encounter the questions if feeling happy is related with money or not, some will use their opt in favour of money. However, the others, including me, claim money has a tiny role and comes not in the leading positions when compared with other effects.

In its simplest form, we can say: Yes, money is affecting our happiness. However, after this sentence, I can add a sentence that starts with “but’’.

What dimension of happiness is affected by money? There are many answers to this question. Because different theories and different disciplines (such as psychology, economy) can define in different ways. However, there is a general definition that is now accepted in the field of psychology. In fact, if we look at the dimensions of happiness rather than definition, we can better understand this concept.

Happiness is a concept with both emotional and cognitive dimensions. Emotionally feeling good means experiencing positive emotions frequently rather than experiencing negative emotions less often. Some experts define this as emotional balance. In the cognitive sense, happiness reflects the person’s perception of his / her life as satisfying. Many studies show that emotional and cognitive aspects of happiness can be affected by different factors. Money is one of these factors. For example, the monthly income of a person is important for life satisfaction and does not show a meaningful relationship with the emotional dimension of happiness. So as our income increases, we are beginning to perceive our lives as more satisfying. However, increasing income does not affect our daily emotional state much. Therefore, it may be important to know in what sense our income makes us happy.

If the quantity of money increases, does your level of happiness also increase? The answer to this question can be summarized as follows: While more money does not bring happiness, little money can make you feel emotionally worse. Therefore, making less money than a certain income level can reduce our quality of life. On the other hand, excess money after reaching a certain economic standard can increase our life satisfaction. The surplus money that comes after reaching a certain economic standard may not be emotionally happy. For example, in a study conducted by Kahneman and Deaton in 2010, it was seen that the winners of more than US $ 75,000 a year in the US compared to the winners of 75,000 US Dollars and the winners above this figure were not happier, or rather, their daily emotional states did not change.

In fact, the main point here is that if our earnings are enough to capture the living standards of our own, then this encourages us to feel good. However, gaining more than this income does not give us any extra happiness. In other words, I would not be very happy if I made so much money, it might not be meaningful to make guesses. Connecting our happiness to money may leave us completely powerless. Because when we get it and catch it, we feel happy but then we start searching for more.

Why is earning a lot of money problem for happiness? After a certain level of income (I said this is an average of $ 75,000 a year for America), there are a few reasons why money doesn’t make us happy in the emotional sense after a certain amount of money. One of these is that when people earn more money, people start to feel less gratitude for small things. There are also researches that support the fact that people can not really be happy with some tiny things as they earn more money. Another reason is that as income increases, people stop doing activities that will make them feel good in everyday life. For example, people with high incomes spend more time on working, shopping, child care or other obligatory jobs than being interested in socializing or hobbies or leisure activities that make them feel good. This can restrict their happiness.

How would spending money make us happy? Not having enough money is enough for a good life. The relationship between money and happiness is that a high income contributes to our happiness only when we spend it for those who need it or to buy gifts for our loved ones. For example, in a series of research by Professor Dunn and his friends, it shows that when university students spend about $ 10 or $ 20 of money to buy something for someone else, they feel better than spending time for themselves. Other studies show that they feel better when they use a certain amount of money given to them to experience experiences such as traveling or a little trip. His research in many rich and poor countries also shows that person is happier when almost everyone pays his / her money to a charity. Briefly, research tells us how our use of money is effective in our happiness.

Well, why do we choose to spend money for an article if it makes us happier to spend money for an experience or for someone else? One of the reasons for this is that our experiences are temporary and we think that what we buy is more permanent. For example, instead of spending money to go on a concert or a trip, we can choose to buy a new television which we think will be more permanent. So again, we can make mistakes when guessing what makes us happy.

Of course the outcome is not to spend our money for others and not to spend money. It is important for our happiness and life satisfaction to meet our own needs. It may not make sense to give our money to others in debt. I’ll talk about the details of the debt in the future.

Does it really make you happy to have something new? As I said, we’re pretty bad at predicting what makes us happy. We think we will be very happy when we have a new phone. So when our happiness increases with a new event, situation or something that we just have, we get used to the good feelings that we have experienced, and after a while we return to our old happiness level. Therefore, a new dress we bought brings a short time of happiness, and after a few days or even a few hours, we realize that we are not so happy or that our happiness lasts shorter than we expected.

Experiences are not like that. When we have a trip, a concert or a cinema experience, these experiences can help us to meet our psychological needs and make us feel better for longer. Because experiences are usually things we share with others, which brings us closer to others. We know that this kind of interpersonal relations has an important place in our happiness. Meeting the need for bonding with others is an experience that makes us feel good. This does not mean that the things we buy will not make us happy or give up on doing so. In fact, it is important to know that we are going to make a mistake when we guess what makes us happy. Moreover, we must be aware that our happiness may not be so long when we have something we desire, and that we may be disappointed that we are not happy again after we have reached the things we have been connected.

Does saving money make you happy? Our debts have a negative impact on our happiness. On the other hand, having an accumulation to keep us safe in the economic sense can contribute to our happiness. In fact, the debt causes conflicts in marriage and therefore negatively affects the happiness of couples. The negativity of being indebted has a stronger impact than the happiness of our experience. In other words, it may not make us happy to take a trip in debt and borrow again; The stress of debt can be more effective than the beauty of our experiences.

How accurate is it to compare ourselves with others? Another important factor in the relationship between money and happiness is relative income. Many people prefer to compare their earnings with the earnings of those around them (usually their peers). This situation, which is frequently seen especially among white-collar people, is not very useful. Research shows that the happiness of the group or the person we are comparing decreases as our income increases. But this is not always valid for everyone. For example, when comparing income in the early part of working life has a positive effect, a similar comparison in later times may adversely affect happiness. People’s income comparison with others at a young age and in their careers may be positive in terms of predicting their future earnings and increasing their motivation. However, the comparison of income after coming to a certain position may adversely affect happiness as it may lead to negative thoughts about the future.

On the other hand, according to the results of our research, it is better to see that our income is much more than one of our level (or our peers in general), especially in terms of career. However, social comparisons often rebound and leave a negative impact. Therefore, I cannot say that economic comparisons are very healthy.

Furthermore, your income from the past, your income today and the income you expect in the future can be quite important when looking at the relationship between money and happiness. Now it’s better to win more than we did in the past. I already mentioned above how the comparison affects happiness. If we are going to make us happy, we will be able to accept this idea even if we know that we won’t earn 8 billion a month. So even if it is not rational, we can hold onto a thought that makes us happy. For example, it is quite useful to appreciate what we have in economic terms and to remind them often. A materialist lifestyle may have negative consequences for psychological health. For example, when we look at America, people have more things (more cars or electronic goods per capita) compared to 50 years ago, but are they happier in the last 50 years? No. There is even the fact that they owe more. Especially nowadays it is quite natural to have more things to shop, to have more things and to take part in consumer culture. People may need it. However, it can affect our quality of life and relations badly. The life satisfaction of the people who make the habit of looking for riches decreases and they are less happy during the day.

In short, I can say that constantly thinking of making more money and looking for wealth, wishing to have more make us unhappy. Money is always a need but only enough to lead a good life. However, some people have different thoughts on this subject and these thoughts are actually confusing. For example, some say that expecting an increase in our financial situation has a positive impact on both general life satisfaction and economic satisfaction. So in the future – compared to today – we expect to be in a good economic situation, in other words, it is good to think optimistically about it. The financial situation that individuals think that they will have in the present and in the future contributes to their happiness. Another thing is that if there is an unexpected positive change in our income, our life satisfaction increases but in case of an unexpected negative change in our income, our life satisfaction is adversely affected. In other words, if we make an expectation error about our future financial expectations, this affects our life satisfaction badly.

What about comparing wealthy and prosperous countries with poor ones? I think that welfare countries are happier. Developed countries like Denmark, Finland, Norway and Canada are the happiest countries. Poor African countries appear to be at the end of the list. However, it should be kept in mind that the average levels of happiness in the country are taken into account. So there are unhappy people in rich countries, happy people in poor countries. In addition, while thinking about this issue in the framework of the above, it would be appropriate to make an evaluation. If we look at countries, the average income level is important for happiness and life satisfaction. But income, or money, is not enough to explain the difference in happiness between countries. In addition to income, factors such as democracy, social rights, human rights, security and trust are important factors in the level of general happiness of the countries.

As a consequence, the relationship between money and happiness is not that simple. Yes, money makes a sense of happiness, but there are many factors that prevent or allow it. Therefore, it is not quite right to make a comment without taking into account the circumstances and conditions. I believe that we can encourage our happiness for what we have. Because we know that we adapt to almost every situation. When we get a success, we are happy when we buy an item we want; but after a while we get used to it and we can return to our old level of happiness again. But it is also possible to slow down this harmony, or to be more realistic.

Work cites:

https://wws.princeton.edu/sites/default/files/content/docs/news/Happiness_Money_Summary.pdf
https://news.harvard.edu/gazette/story/2008/04/money-spent-on-others-can-buy-happiness/
https://www.nytimes.com/2006/02/08/health/materialism-is-badfor-you-studies-say.html

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Money Can’t Buy Happiness Essay for Students and Children in English

Money Can’t Buy Happiness Essay: The proverb “Money Can’t Buy Happiness” states that money can buy all the materialistic things like cars, houses, and also you can live a luxurious life too but having all the materialistic things surely will not give happiness. Money can be used to buy anything in the world but there is no shop where you can walk and buy happiness and so they say money can’t buy happiness.

When it comes to the question of whether money can buy happiness or not the answer here is that money is just a tool to buy things that give us luxury which in turn will give us happiness. But it doesn’t necessarily increase our happiness. Buying more and more luxurious things won’t really bring you more joy. More money isn’t going to improve your mindset, nor will it bring peace to mind. In other words, you can say that more money can’t buy happiness. There are many aspects which money can’t give.

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Suppose you think a new 24” LED TV will bring you happiness but after having the same 24” LED you see a better option and it makes you feel sad. You want to have better than this. It is not actually the tv that gives you happiness, it is the human nature of having more. A human being is one who is never satisfied. Happiness is actually the state of mind which cannot be achieved by materialistic things. There are many reasons which prove that money can’t buy happiness.

Buying stuff won’t make us happy, because we tend to compare it with others. Comparisons are ridiculous and quite often harmful to us.

What is Happiness?

Is it a big car, a luxurious house, or a big-screen LED TV? Buying any new stuff feels great at first. But gradually months and years later, the excitement decreases. The bright, shiny, newness will eventually go down and you’ll want a new one or more.

Happiness is a feeling. Feeling that money can’t buy. If someone asks are you happy, what will you answer?.

Happiness means satisfaction. Be satisfied with what you have in your life. Not to crave on the things that you don’t have.

Reasons Why Money Can’t Buy Happiness

There are some very good reasons why having more money doesn’t necessarily make a person happier. It can actually turn the opposite. Many wealthy people, for example, are actually under stress.

Here we mention few reasons why money can’t buy happiness

Money Can’t Buy Happiness Essay for Students

More Stuff More Work

Many think that if you get more luxurious stuff our life would be happier but that isn’t true. The more the stuff, the more work it takes to take care of it. Day by day everything has become larger. Today people want larger houses to live in but keeping it clean and maintained is again a challenge. It takes more time and effort to keep your mansions neat and tidy.

More Stuff Less Free Time

As you own more stuff, you will get less free time because you’ll be spending time in the maintenance of the things you bought. Time is very important for everyone, but much of our free time is spent doing house chores and taking care of our stuff. You can use the money to hire maids but that is not possible in every situation.

More Stuff More Expenses

The more stuff you own, the more money you will have to spend to maintain it.

For example, bigger houses need more repairs than smaller ones. Unfortunately, repairs are a necessary part and can be expensive.

The more stuff you own, the more work and money is spent to maintain it. Having less stuff can free up some of your time to do things you enjoy. So money cannot always bring you happiness.

Materialistic things give Temporary Satisfaction

Money can buy temporary happiness. Everyone experiences themselves on cloud nine when they’ve bought something they’ve been desiring. These feelings of happiness are usually temporary. This happiness soon fades away and that new thing is no longer interesting.

Scientists have proved that we get more happiness from our experiences but not from materialistic things. And also they don’t cost much.

Time spent with your loved ones will give you more happiness than buying a costly item that you were eyeing for a long time.

Money Can’t Buy Family, Friends and Love

Family, friends and your loved ones are the people who will make you special. They are the people whose surroundings will make you happy. And definitely, money cannot buy these relationships.

When people are dying and taking their last breath they don’t want to see the things they own or the achievements of their life. All they want to see are their loved ones.

It’s their relationships that really matter but not stuff.

True love doesn’t care whether your loved one is rich or poor. That person will value you for who you are and not money.

Money Can’t Give You Peace of Mind

A person can live without a big house, he can survive without driving a car but cannot live with a stressful mind. True happiness has nothing to do with the bank balance. More money also sometimes steals away the peace of mind because of insecurity.

Changing our outlook for money is the first step in achieving true happiness, the kind of happiness that comes from being satisfied with what you have.

In conclusion, once you have your basic needs like food, water, shelter, clothing and the feeling of safety, then money can’t buy happiness.

It’s up to you to build meaningful relationships, enjoy the little things in life, and start spending your money on experiences and other people rather than materialistic things.

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Can Money Really Buy Happiness?

Money and happiness are related—but not in the way you think..

Updated November 10, 2023 | Reviewed by Chloe Williams

More money is linked to increased happiness, some research shows.
People who won the lottery have greater life satisfaction, even years later.
Wealth is not associated with happiness globally; non-material things are more likely to predict wellbeing.
Money, in and of itself, cannot buy happiness, but it can provide a means to the things we value in life.

Money is a big part of our lives, our identities, and perhaps our well-being. Sometimes, it can feel like your happiness hinges on how much cash is in your bank account. Have you ever thought to yourself, “If only I could increase my salary by 12 percent, I’d feel better”? How about, “I wish I had an inheritance. How easier life would be!” I don’t blame you — I’ve had the same thoughts many times.

But what does psychological research say about the age-old question: Can money really buy happiness? Let’s take a brutally honest exploration of how money and happiness are (and aren’t) related. (Spoiler alert: I’ve got bad news, good news, and lots of caveats.)

Higher earners are generally happier

Over 10 years ago, a study based on Gallup Poll data on 1,000 people made a big headline in the news. It found that people with higher incomes report being happier... but only up to an annual income of $75,000 (equivalent to about $90,000 today). After this point, a high emotional well-being wasn’t directly correlated to more money. This seemed to show that once a persons’ basic (and some “advanced”) needs are comfortably met, more money isn’t necessary for well-being.

But a new 2021 study of over one million participants found that there’s no such thing as an inflection point where more money doesn’t equal more happiness, at least not up to an annual salary of $500,000. In this study, participants’ well-being was measured in more detail. Instead of being asked to remember how well they felt in the past week, month, or year, they were asked how they felt right now in the moment. And based on this real-time assessment, very high earners were feeling great.

Similarly, a Swedish study on lottery winners found that even after years, people who won the lottery had greater life satisfaction, mental health, and were more prepared to face misfortune like divorce , illness, and being alone than regular folks who didn’t win the lottery. It’s almost as if having a pile of money made those things less difficult to cope with for the winners.

Evaluative vs. experienced well-being

At this point, it's important to suss out what researchers actually mean by "happiness." There are two major types of well-being psychologists measure: evaluative and experienced. Evaluative well-being refers to your answer to, “How do you think your life is going?” It’s what you think about your life. Experienced well-being, however, is your answer to, “What emotions are you feeling from day to day, and in what proportions?” It is your actual experience of positive and negative emotions.

In both of these studies — the one that found the happiness curve to flatten after $75,000 and the one that didn't — the researchers were focusing on experienced well-being. That means there's a disagreement in the research about whether day-to-day experiences of positive emotions really increase with higher and higher incomes, without limit. Which study is more accurate? Well, the 2021 study surveyed many more people, so it has the advantage of being more representative. However, there is a big caveat...

Material wealth is not associated with happiness everywhere in the world

If you’re not a very high earner, you may be feeling a bit irritated right now. How unfair that the rest of us can’t even comfort ourselves with the idea that millionaires must be sad in their giant mansions!

But not so fast.

Yes, in the large million-person study, experienced well-being (aka, happiness) did continually increase with higher income. But this study only included people in the United States. It wouldn't be a stretch to say that our culture is quite materialistic, more so than other countries, and income level plays a huge role in our lifestyle.

Another study of Mayan people in a poor, rural region of Yucatan, Mexico, did not find the level of wealth to be related to happiness, which the participants had high levels of overall. Separately, a Gallup World Poll study of people from many countries and cultures also found that, although higher income was associated with higher life evaluation, it was non-material things that predicted experienced well-being (e.g., learning, autonomy, respect, social support).

Earned wealth generates more happiness than inherited wealth

More good news: For those of us with really big dreams of “making it” and striking it rich through talent and hard work, know that the actual process of reaching your dream will not only bring you cash but also happiness. A study of ultra-rich millionaires (net worth of at least $8,000,000) found that those who earned their wealth through work and effort got more of a happiness boost from their money than those who inherited it. So keep dreaming big and reaching for your entrepreneurial goals … as long as you’re not sacrificing your actual well-being in the pursuit.

There are different types of happiness, and wealth is better for some than others

We’ve been talking about “happiness” as if it’s one big thing. But happiness actually has many different components and flavors. Think about all the positive emotions you’ve felt — can we break them down into more specifics? How about:

Contentment
Gratefulness

...and that's just a short list.

It turns out that wealth may be associated with some of these categories of “happiness,” specifically self-focused positive emotions such as pride and contentment, whereas less wealthy people have more other-focused positive emotions like love and compassion.

In fact, in the Swedish lottery winners study, people’s feelings about their social well-being (with friends, family, neighbors, and society) were no different between lottery winners and regular people.

Money is a means to the things we value, not happiness itself

One major difference between lottery winners and non-winners, it turns out, is that lottery winners have more spare time. This is the thing that really makes me envious , and I would hypothesize that this is the main reason why lottery winners are more satisfied with their life.

Consider this simply: If we had the financial security to spend time on things we enjoy and value, instead of feeling pressured to generate income all the time, why wouldn’t we be happier?

This is good news. It’s a reminder that money, in and of itself, cannot literally buy happiness. It can buy time and peace of mind. It can buy security and aesthetic experiences, and the ability to be generous to your family and friends. It makes room for other things that are important in life.

In fact, the researchers in that lottery winner study used statistical approaches to benchmark how much happiness winning $100,000 brings in the short-term (less than one year) and long-term (more than five years) compared to other major life events. For better or worse, getting married and having a baby each give a bigger short-term happiness boost than winning money, but in the long run, all three of these events have the same impact.

What does this mean? We make of our wealth and our life what we will. This is especially true for the vast majority of the world made up of people struggling to meet basic needs and to rise out of insecurity. We’ve learned that being rich can boost your life satisfaction and make it easier to have positive emotions, so it’s certainly worth your effort to set goals, work hard, and move towards financial health.

But getting rich is not the only way to be happy. You can still earn health, compassion, community, love, pride, connectedness, and so much more, even if you don’t have a lot of zeros in your bank account. After all, the original definition of “wealth” referred to a person’s holistic wellness in life, which means we all have the potential to be wealthy... in body, mind, and soul.

Kahneman, D., & Deaton, A.. High income improves evaluation of life but not emotional well-being. . Proceedings of the national academy of sciences. 2010.

Killingsworth, M. A. . Experienced well-being rises with income, even above $75,000 per year .. Proceedings of the National Academy of Sciences. 2021.

Lindqvist, E., Östling, R., & Cesarini, D. . Long-run effects of lottery wealth on psychological well-being. . The Review of Economic Studies. 2020.

Guardiola, J., González‐Gómez, F., García‐Rubio, M. A., & Lendechy‐Grajales, Á.. Does higher income equal higher levels of happiness in every society? The case of the Mayan people. . International Journal of Social Welfare. 2013.

Diener, E., Ng, W., Harter, J., & Arora, R. . Wealth and happiness across the world: material prosperity predicts life evaluation, whereas psychosocial prosperity predicts positive feeling. . Journal of personality and social psychology. 2010.

Donnelly, G. E., Zheng, T., Haisley, E., & Norton, M. I.. The amount and source of millionaires’ wealth (moderately) predict their happiness . . Personality and Social Psychology Bulletin. 2018.

Piff, P. K., & Moskowitz, J. P. . Wealth, poverty, and happiness: Social class is differentially associated with positive emotions.. Emotion. 2018.

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Essay on Money can’t buy Happiness

Long and Short Essay on Money can’t buy Happiness in English

Here are essays of varying lengths on the topic Money can’t buy happiness. You can select anyone you need:

Money can’t buy Happiness Essay 1 (200 words)

Money can’t buy Happiness Essay 2 (300 words)

Introduction

The Happiness Model

The more constant and steady your happiness and optimistic outlook is, the better performance you will have in your pursuit.

A person will be more productive and more successful in whatever work he is doing if he is coming to work with excitement each day. In your personal life, it is not different.

Money can’t buy Happiness 3 (400 words)

Money can’t buy Happiness

Money can’t buy Happiness 4 (500 words)

What is Happin ess?

What is happiness? Is it pleasure?

Is there any difference between happiness and pleasure?

Needs V/S Wants

Is Money Important?

Happiness v/s Pleasure

Money can’t buy Happiness 5 (600 words)

True Happiness is Priceless

Some priceless possessions that are essential for happiness but cannot be bought are mentioned below:

An honest opinion from a loved one.
True friends who have your back.
A family you can always count on.
Humour and laughter
Having a positive attitude
Doing a good deed
The first time someone says, “I love you.”
Quality time with your loved ones.
Having someone listen to you intently.
The love of your children, family, and significant other.
Pushing one to achieve something great.

Happiness and Other Things Money Cannot Buy

Clearly, money cannot buy happiness. What else can money not buy?

Love : Money can buy attraction, power, and lust but it cannot buy love. Love is an emotion that can only be felt and experienced. It is something intimate, heartfelt and mysterious.

Truth : Money may be able to buy authority but the truth is most powerful of all. Sometimes money is exhausted to shove beliefs or an agenda and can even be used to generate unfair study to strengthen an opinion. Sometimes, people are able to hide the truth with the help of money but not for long. In the end, no matter how much money is spent on forging the truth it will always be exposed.

Time : You will never get back the time you have spent. Each minute that has passed will never return. Despite so much scientific and medical advancements, there is no way that we can reverse the time or extend our life. No amount of money can turn the clock back so we should live our life to the fullest, work hard and enjoy what we have.

Peace: It has been seen that the wealthier a person, the less peace of mind he possesses. Money cannot buy you peace. Many individuals have spent countless amount of money to establish inner peace and this vast sum of money has never been able to come close to what we could define as peaceful. Peace does not depend on your bank statement. It depends on how you train your mind and set your expectations.

Talent : Money can certainly help you to enhance and develop a talent within you but you won’t be able to purchase talent or skill. Besides inborn talent, there is a zest to learn and gain knowledge to nurture a skill or talent. All this cannot be purchased with any amount of money.

These are all essential components of happiness!

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Does Money Buy Happiness?

Money can not buy happiness.

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Can Money Buy Happiness? An Argumentative Analysis

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Topic: Happiness , Money , Personal Statement

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Happiness and Other Things Money Cannot Buy

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Why money can't buy happiness

Money Can’t Buy Happiness Essay for Students and Children in English

What is Happiness?

Reasons Why Money Can’t Buy Happiness

More Stuff More Work

More Stuff Less Free Time

More Stuff More Expenses

Materialistic things give Temporary Satisfaction

Money Can’t Buy Family, Friends and Love

Money Can’t Give You Peace of Mind

Money Can't Buy Happiness: Persuasive Essay

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Can Money Really Buy Happiness?

Higher earners are generally happier

Evaluative vs. experienced well-being

Material wealth is not associated with happiness everywhere in the world

Earned wealth generates more happiness than inherited wealth

There are different types of happiness, and wealth is better for some than others

Money is a means to the things we value, not happiness itself

Essay on Money can’t buy Happiness

Long and Short Essay on Money can’t buy Happiness in English

Money can’t buy Happiness Essay 1 (200 words)

Money can’t buy Happiness Essay 2 (300 words)

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Money can’t buy Happiness 4 (500 words)

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