Hello everyone,
Most of us work hard all our lives so we can make enough money to pay for our basic needs, put some in the savings and spend some to enjoy the little things in life. We often hear people say that if only they had more money, they would have been happier as they would be able to indulge more. But having money doesn’t always equate to being happy.
There have been studies that show people who won lotteries, immediately grew happier but their happiness did not last forever. After about six months, those who were happy-go-lucky before the lottery stayed similar and those who were miserable before getting more money, remained somewhat miserable but with more money. The secret to happiness is in being able to savour each moment. So it’s not exactly how much or how little you have but how you are able to appreciate its value.
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Dear Anjana,
Of late I have been so consumed by the urge to make more and more money that I feel I am not really living my life. I don’t like hanging out with friends at fancy places because I feel that’s a waste of money and I’d rather just stay home and do nothing. I have become so careful with my finances that my mind is always doing calculations. It’s such a contrast from the way I used to be before. I guess with age people grow more careful with money but I feel like I am not able to maintain the right balance between spending and saving.
SR
AR: I am glad to see that you are aware that being overly obsessed with money is definitely not helping you mentally or socially. I agree that with age, we grow to value money and tend to have a savings account as you never know when you might have an urgent need, but secluding yourself from all interactions to save money will do you more harm than good in the long run. Yes, it is important to save but it is also important to reward yourself or do something you like with the money you make. This shows appreciation for self. Humans are social beings and it is not natural for us to stay alone and avoid people. I do agree that with more money you may have more social pressure to live a certain lifestyle, which is a different yet manageable issue. Is there a reason why you are so obsessed with money? Are you saving to buy something extravagant? Did the recent earthquake scare you about how you might urgently need money?
One thing I can guarantee is that being obsessed with money will bring you more unhappiness as you will not be able to enjoy anything. There is a correlation between a person’s wealth and decreased ability to enjoy life experiences, so how far are you willing to go for that? Beyond a certain amount, money cannot buy happiness. Otherwise the richest people would be the happiest but they aren’t.
It is your life and your money, save some for a rainy day but do not be so obsessed with it that you are not able to enjoy life. You will regret it in the end. If it helps, talk to a financial advisor who can help you save, invest and enjoy what you make. Good luck.