By Iván Vázquez Islas
A study at Princeton University in the United States states that people with high incomes show a higher degree of happiness than those who do not. In addition, an increase in income generally gives pleasure to those who experience it, under certain parameters. In short, money does bring happiness, but not forever.
In economics we have a concept called Decreasing Marginal Utility, which I will explain to you through an example: let’s suppose you had a very heavy day, one of those that you had a bad breakfast and you didn’t even have time to eat, and by the time night comes you are already grumpy, terribly hungry and all you want is to devour something, then you finally have the opportunity to sit down to eat and they serve you your favorite dish. Suppose it is a large steak, you take the cutlery, cut a piece and put it in your mouth, mmmm yummy, that first piece tastes like heaven, you cut a second piece and it still tastes good but a little less than the first and so on, until you satiate your appetite and you can’t eat any more, and if you continue, it might even disgust you. The same thing happens with money, according to the study, money does provide happiness, but the time comes when all our needs and desires are already covered that a little more money will not make us happierThis point is different for each person.
Another study, this one from the United Kingdom Office for National Statistics, has shown that happy people are more likely to have a better income than those who are not, that is, their optimistic way of living makes them get, identify and take advantage of more opportunities than less happy people. There is a correlation between money and happiness, both happiness can bring us more money, and money can give us more happiness.
And a third study, also very interesting, from Columbia University in England, which states that money does not bring happiness, but it does lessen sadness. And it is understandable, since the scarcity of money, living from day to day without financial certainty can bring us extremely high levels of stress, low or no access to technology and information, low levels of education, poor access to health systems, poor diet, physical and/or mental illnesses that can sometimes lead to suicide. So it is logical that money lessens the calamities.
And if money represents a piece of our life, it could be causally affirmed that money can give us happiness because we would be providing it to ourselves.
Regardless of our income, happiness is a much more complex matter that depends on many factors that go beyond our purchasing power and we know that many of the best things in life are free, and whether money gives us happiness, happiness gives us money or that money lessens sadness, all cases are favorable, and we can love it or hate it, but the best thing would be to seek balance, and know that if we want or have to play, we must learn the rules and enjoy the road.
I leave you the original links from another study.
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