How The ‘WealthHappiness Nexus Could Change The Way You Think About Money

Oleh Admin 24 Des, 2023 Posting Komentar

You've probably heard that money can't buy happiness, but you've probably never heard of the connection between wealth and happiness. While money itself doesn't make you happy, it makes you feel more secure and also allows you to purchase things that make it easier for you to be happy. The idea of the connection between wealth and happiness goes even further, exploring not only how wealth can make us happy or not, but also how happiness can positively impact our outcomes.

What is the link between wealth and happiness?

Numerous studies have shown that there is a connection between overall happiness and economic growth . While you don't need a bunch of scientists to tell you that you're happier when you have a strong checking account, it's worth considering these findings: It turns out the relationship is two-way, meaning that happiness doesn't just come from economic reasons. . growth, but it can also be a “driving force”. Happiness can help you earn more money. Again, this also makes sense from a common sense perspective. When you feel happy and your needs are met, you are less stressed and can achieve more.

What else plays a role in this context?

Of course, money doesn't automatically make you happy. Like any feeling, happiness is subjective and depends on many personal factors within you. Just as there is research on the link between happiness and money in general, there is also research on smaller factors that influence .

In this study, income does not appear to impact a person's well-being as much as the next two concepts: subjective socioeconomic status and something called "comsim." Subjective socioeconomic status is a person's perception of their social and economic status, determined not by income, education, or occupation, but by that person's feelings and beliefs. No one knows how they look compared to others. Comsim is the practice of comparing your current socioeconomic situation to that of people from similar backgrounds, based on the idea that it is easier to compare yourself to someone who has a similar upbringing to yours than to your closest peers. These two factors appear to be important predictors of subjective well-being, and focusing too much on them can reduce your happiness, regardless of how much money you actually have.

The goal is to focus more on personal goals, progress and success. Do not compare yourself with others, look at your financial situation exclusively on a personal level. Ask yourself if the budget you set for yourself for the new year is enough, not if you have enough to compete with your childhood best friend. Celebrate all the financial successes you experience and don't think about the ones you see in others.

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Before the end of the year, first review your finances with a checklist and then decide to earn more if you want, as well as celebrate your successes and spend money on things you enjoy. Your goal is not really to be rich and happy, but to be happy with yourself and no longer compete with others. This is the true connection between wealth and happiness.