Ask:
I thought this article was interesting. Basically it states that relative, not absolute income does play a role in how happy you are. We tend not to look at how much money we make, but compare our incomes with our peers. While health plays a bigger role in determining happiness, income was up there too. What do you all think?
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I defintely agree!!! I can tell you that these periods of my life when I am stressed about money and bill, I am not very happy. I am much happier just knowing that the bills can be paid with no worries and I can stop for a burger if I want to without breaking the bank!
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I don't have to be rich to be happy, but I am happier when I know that all my bills will be paid on time. The tighter money is the more stress there is, so I guess it does boil down to more money more happiness.
Answer:
Originally Posted by Happymom
I defintely agree!!! I can tell you that these periods of my life when I am stressed about money and bill, I am not very happy. I am much happier just knowing that the bills can be paid with no worries and I can stop for a burger if I want to without breaking the bank!
In the research I've read, money does have a big impact on happiness when you're struggling to make ends meet. In other words, the less you have, the bigger impact more money has on your happiness. If you gave a poor man and Donald Trump each $1000, who do you think it would impact the most?
However, the more you have the law of diminishing returns takes effect. Once you have all those security needs met and a little extra to boot, more money doesn't mean as much. If you think of Maslow's Hierarchy of Needs, Survival Needs are pretty much near the bottom, which would be situations where money needs to pay the basics like food and shelter. After that, people need things like quality relationships and a purpose in life to grow and develop.
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The number one thing that makes me happy is getting to stay home with my little girl. I realize my peers are sometimes on a different phase in there life. I still have a huge list of things that I want, that take money. I know many of them will make us happier (having another child, getting to travel as a family, having a home that I feel I can bring friend into) I would like to be rid of the stress of living paycheck to paycheck, figuring out how we are going to pay off the debt. You need to do what makes you happy. Its no fun having money if you don't have anyone to share it with.
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I agree as well. I think back to my single days of owning my own house and living paycheck to paycheck, having always to split my car insurance bill into segments in order to pay it, etc. and I am much happier just being able to take a breath and not worry about $ all the time. Knowing that ds's college is partially paid for is another relief. I would if I had to, but the idea of getting a full time job when he's in high school to pay for his college doesn't thrill me.