While chasing money is a human experience, it shouldn’t be to the cost of loved ones and being of good character.
Sure, money is important as it makes the world go around but it shouldn’t make you constantly dissatisfied and affect your relationships.
Harvard Business School researchers Grant E. Donnelly and Michael Norton did a survey of 4000 millionaires that are US financial institution clients.
They found that money contributes to happiness to meet basic needs but above a certain level, more money does not yield much more happiness.
“The more we have of it, it seems, the more money wears off,” they said. “Indeed, research by Nobel laureates Daniel Kahneman and Angus Deaton suggests that the happiness benefits of increased income diminish around US$75,000 – in part because increases beyond that point likely don’t exert as large an impact on people’s ability to live comfortably.”
They found it was also better to make millions than to inherit or marry into them.
“Those who earned their wealth reported significantly greater happiness than those who primarily inherited or married into it,” they added.
So what’s the solution? Giving it away made them happier!
A wealthy businessman who started a US chemist was once asked how much he was worth. He said, “About two million dollars.” The reporter replied, “What, you are worth 10 times that!”
The businessman answered, “Yes, but that’s what I gave away so that’s what I’m worth.”
Particularly at the end of the year you see the frenzy of buying and spending but here is the crux of the matter – you can use money to make others happy – for a little while anyway.
Here’s a new year’s resolution. There is joy in giving and this can be carried through to the whole year ahead, not just at certain times of the year.
Also this doesn’t just mean possessions but can be extended to helping others in need and not just your friends and family either.
True heroes are those who risk their lives to help others. While we may not be required to do this, we can help in smaller ways.
Help your neighbour when they go away e.g. watering plants; aid a person if they don’t know how to use a parking meter; a work colleague overloaded with work; and much more.
Even a smile, thank you or praise goes a long way!
So this coming year focus on family, loved ones and being the best you can be. Sure, you should pay the bills but have time for fun as well.
Source: inc.com/peter-cohan/will-10-million-make-you-happier-harvard-says-yes-if-you-make-it-yourself-give-it-away.html
