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money can buy happiness

Were you one of the millions of people who purchased lottery tickets before the $1.5 billion Mega Millions jackpot in October 2018? Even if you told yourself the winnings would all go to charity or be used to pay off your hefty student loans, there’s a good chance you also thought that a burst of income could make you a whole lot happier. That belief is part of what makes millions work overtime, purchase scratch-off tickets and wish upon stars—that money can buy happiness.

The Connection Between Money and Happiness

When it comes to researching the concept that money can buy happiness, there are often diverse findings. In most cases, it isn’t necessarily the amount of income coming in that determines happiness. Instead, it is how the money that you have is used towards purposes that increase your satisfaction. In other words, the amount of money doesn’t matter so long as it is enabling you to access the things that you want. If your greatest desire is to never match your socks again, having the money to pay for someone to do your laundry could “buy” happiness. If your ultimate dream is to own a $5 million mansion, purchasing that property could give you a boost.

Well-Off Doesn’t Equal Wealthy

Conspicuous consumption is more prevalent than ever before thanks to Instagram and our lifestyle of over-sharing. Seeing all of the avocado toast and champagne online can lead plenty of impressionable young people to think that money can buy happiness and lead to a sense of envy and anger. It’s easy to forget that having more money might make your life more Insta-worthy, but what you see online is a highlight reel and in no way the absolute truth. Better friendships, a loyal partner or a fulfilling job don’t go hand-in-hand with wads of cash. 

Is It True That Money Can Buy Happiness?

In short, no. There are many threads that can be found between happy people who are both rich and poor:

  • The happiest people are surrounded by a group of people who they enjoy spending time with who they care for and care about.
  • Life is all about the journey! Humans love to master challenges and solve problems. When you reach the mystical top of the mountain and get what you’re after, if the thing you wanted doesn’t provide lasting joy, you won’t be any happier than before.

Reframe Your Perspective with CBT Baltimore 

If you are struggling to find happiness in your life or are interested in seeking therapy in Baltimore, we’re here to help.  Reach out to the CBT experts at CBT Baltimore at 443-470-9815. We would love to speak with you.