Does money really buy happiness?

Does money really buy happiness?

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Discussion

LordHaveMurci

11,263 posts

146 months

Saturday 14th May
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Mr Whippy said:
I don’t get how some people justify all the stuff they buy.
Why should people justify what they spend their own money on?

Not everybody buys brands to impress others, some people appreciate (or need) quality.

JonChalk

5,545 posts

87 months

Saturday 14th May
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OldSkoolRS said:
To steal a line from a Sheryl Crow song; it's not having what you want, it's wanting what you've got.
To quote Röyksopp;

It's what I want that's easy
It's getting it that's complicated

OldSkoolRS

4,296 posts

156 months

Saturday 14th May
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I like that Jonchalk, though I'll confess as to not being familar with that song (as you could probably guess from my older reference smile ).

DaveCWK

1,679 posts

151 months

Saturday 14th May
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Wasn't there an actual study done on this, & basically 'not being poor' is all that really matters, with happiness not improving with a household income over $70k or so.

markiii

2,072 posts

171 months

Saturday 14th May
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If it doesn't you have no imagination

Bacon Is Proof

5,707 posts

208 months

Saturday 14th May
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Happiness is a state of mind, and is a choice.
Most people never bother to take a step back and work out what it is that would actually make them happy and end up chasing the ideals of others instead.
Money is of no relevance, beyond the basics.

21ATS

677 posts

49 months

Saturday 14th May
quotequote all
LordHaveMurci said:
Mr Whippy said:
I don’t get how some people justify all the stuff they buy.
Not everybody buys brands to impress others, some people appreciate (or need) quality.
After a while though, you start to realise that sometimes "brand" doesn't necessarily = quality.

21ATS

677 posts

49 months

Saturday 14th May
quotequote all
Bacon Is Proof said:
Happiness is a state of mind, and is a choice.
Most people never bother to take a step back and work out what it is that would actually make them happy and end up chasing the ideals of others instead.
Money is of no relevance, beyond the basics.
^ This, the irony though is that it quite often takes having money to come to this conclusion. Catch 22.

I take my hat off to those who truly manage this independently.

LooneyTunes

5,348 posts

135 months

Saturday 14th May
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Derek Chevalier said:
Mr Spoon said:
Not having enough money will certainly make someone unhappy. When I refer to not enough, I mean not enough for a basic living standard, shelter, food etc.

What about being able to buy whatever you want, whenever you want?

What about financially secure or wealthy people? Those who can maintain a lifestyle for a significant period, years, not months, weeks or days without an income?

When does the average wealthy person stop living beyond their means?
No. I think it can lead to a certain restlessness, not contentment.
There’s a big difference vs “made” money and those who simply win it.

If you win it, there’s no time to adjust and tour frame of reference can be massively skewed. Spend, spend, spend. It has fallen from the sky and is such an unimaginable sum that it can never run out. Until it does.

If you make it then you’ve probably been quite driven. What you do is a key part of your identity (if not to you, then certainly to others). When you stop, there’s a hole that you need to fill, but (as others have said) people can perceive you differently. Both of those can lead to some restlessness, as you need to carve a new niche whilst also dealing (if you want to) with the fact that some people have incorrect preconceived views. BUT you’ve probably mixed with people with a bit more cash and had time to think things through.

The trick is to keep going. Set goals and deliver against them. They don’t always need to be financial, but they often turn out to be. You sometimes can’t help making a bit more, but not always for yourself. For example, a very dear family friend decided to rethink the way a charity he was involved in raised money. He pretty quickly worked out that there were smarter ways to raise much more than would be possible by shaking a tin at the supermarket and made a huge difference locally.

The harder things are:

1) managing the multiple personas/preconceptions that you need to juggle if you want to avoid others feeling uncomfortable. You still need to be yourself but turn different elements up or down depending on the people and situation.
2) bringing up kids that have only known one lifestyle. Even if they know it’s not normal they can’t always relate to the real world.
3) as someone else has said, recognising that some people, even ones you’ve known for years, have a problem with other people’s wealth. Not all of them get over it.

As for “stuff”. You don’t have to spend. And if you want to spend, you don’t need to spend overtly on branded or expensive stuff. Most of the wealthy guys I know consider their purchase even if they’re at a level few can relate to. There’s stuff they value and will spend on, stuff they don’t and won’t, and stuff that most people never know they’ve spent on.

As for the “average wealthy person”, I don’t even know what that means. Everyone is different and almost without exception there’s always someone with a bigger boat.

Sheetmaself

5,207 posts

175 months

Saturday 14th May
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Im far from on the breadline, but up until a few years ago net worth was a healthy 7 figure number.

I would say I’m the same. I want something so i save up and buy it. The trinkets might be lower value but the chase and feeling of achieving the goal is the same.

That said imho money doesn’t buy happiness but poverty sure can make you miserable.

NMNeil

3,924 posts

27 months

Saturday 14th May
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AC43 said:
From the Rich bds Frenzy in Bike magazine in the 80's;

"Money can't buy you happiness but it can buy you a better class of misery".
Close to what my gran used to say.
"Money can't buy you happiness, but at least you can be fking miserable in comfort" biggrin

MaxFromage

964 posts

108 months

Saturday 14th May
quotequote all
I have clients with vastly different personal wealth, from negative to £100m+. It almost appears to be pot luck how happy they are. However if you dig a bit deeper, (as Simpo said first) contentment seems to be the key. Minimal living works for me despite having the funds for more 'things'.

SirCarsAllot

52 posts

1 month

Saturday 14th May
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Many things have to be right ‘before’ money comes along, dangerous game if they’re not.

DanL

4,897 posts

242 months

Saturday 14th May
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NMNeil said:
AC43 said:
From the Rich bds Frenzy in Bike magazine in the 80's;

"Money can't buy you happiness but it can buy you a better class of misery".
Close to what my gran used to say.
"Money can't buy you happiness, but at least you can be fking miserable in comfort" biggrin
The better class of misery line is a Spike Milligan line. smile

SirCarsAllot

52 posts

1 month

Saturday 14th May
quotequote all
DanL said:
NMNeil said:
AC43 said:
From the Rich bds Frenzy in Bike magazine in the 80's;

"Money can't buy you happiness but it can buy you a better class of misery".
Close to what my gran used to say.
"Money can't buy you happiness, but at least you can be fking miserable in comfort" biggrin
The better class of misery line is a Spike Milligan line. smile
Yes, but spike Milligan got it from his gran

bigothunter

4,237 posts

37 months

Saturday 14th May
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Money can't buy happiness but it allows you to choose how to be miserable...

Derek Chevalier

3,433 posts

150 months

Sunday 15th May
quotequote all
LooneyTunes said:
There’s a big difference vs “made” money and those who simply win it.

If you win it, there’s no time to adjust and tour frame of reference can be massively skewed. Spend, spend, spend. It has fallen from the sky and is such an unimaginable sum that it can never run out. Until it does.

If you make it then you’ve probably been quite driven.
I agree differences in how quickly the money arrives can make the experience vastly different, but just to add there are many that suddenly "win" in their careers, working hard for many years and then in a very short space of time their fortunes change for the better - this can be equally challenging to acclimatise to as the lottery winner, IMO.

LooneyTunes

5,348 posts

135 months

Sunday 15th May
quotequote all
Derek Chevalier said:
LooneyTunes said:
There’s a big difference vs “made” money and those who simply win it.

If you win it, there’s no time to adjust and tour frame of reference can be massively skewed. Spend, spend, spend. It has fallen from the sky and is such an unimaginable sum that it can never run out. Until it does.

If you make it then you’ve probably been quite driven.
I agree differences in how quickly the money arrives can make the experience vastly different, but just to add there are many that suddenly "win" in their careers, working hard for many years and then in a very short space of time their fortunes change for the better - this can be equally challenging to acclimatise to as the lottery winner, IMO.
True, and it’s probably also tricky if you work in a sector that means you don’t know (m)any people with money already and/or don’t have much financial experience.

Personally I have several groups of friends, where there’s some crossover in terms of who hangs out with whom, but the topics of conversation are quite different. All wealthy guys have their weakness when it comes to spending, and the piss often gets taken accordingly, but you can have open conversations about expensive stuff or life/lifestyle matters that you can’t really have with other friends, often whilst just going for a walk.

Pit Pony

5,744 posts

98 months

Sunday 15th May
quotequote all
Mr Whippy said:
I don’t get how some people justify all the stuff they buy.

In most cases you could spend half as much, get something almost as good, and over 10 years probably save enough to pay off your mortgage early.


Some people are just fully signed up materialism addicts.
In my midweek house, I have the cheapest washing machine there is possible to buy and a white knight tumble dryer that's probably 27 years old. Both just do the job. No fuss.
In our family home, we have just had a new kitchen, after 32 years. with the latest WiFi controlled washer dryer. It's st.
It doesn't have a short 30 minute cycle, it doesn't get the clothes dry enough. You know toasty warm. It vibrates so much at 1600 rpm that you think its going to take off. The manufacturer has replaced parts, and we just run it at 1200 rpm, where it's fine.

Jaguar steve

8,314 posts

187 months

Sunday 15th May
quotequote all
21ATS said:
LordHaveMurci said:
Mr Whippy said:
I don’t get how some people justify all the stuff they buy.
Not everybody buys brands to impress others, some people appreciate (or need) quality.
After a while though, you start to realise that sometimes "brand" doesn't necessarily = quality.
And when you realise that you'll also realise "brand" is often more about successfully creating a subjective image of quality that's tacked onto any product via glossy magazines and slick multi-million pound advertising campaigns rather than having real objective quality built into the product from the outset.

That imitation of quality will detract from your life rather than adding to it, because whenever artificial hopes and expectations of quality are created you'll invariably never being able to satisfy them.