Question

Can money buy happiness? See what Daniel Gilbert has to say about it, and then discuss what you think?

http://www.bakadesuyo.com/2012/01/8-ways-that-money-can-buy-happiness/

Answer 1

Harvard happiness expert Daniel Gilbert explains 8 ways to increase happiness.

1. Materials vs. experiences – He argues that spending money on an experience will bring more happiness than spending money on material items because the mere memories of the experience that we gain will refresh us every time we think of it.

2. Spending on self vs. Spending on others – When we spend money on others that brings more happiness than spending money on ourselves because seeing a person happy brings more happiness. It’s to say that people who involve in pro-social behaviors. This particular behavior is common across cultures around the world because it is believed that when you help others you give it to God himself.

3. Small vs. large pleasures – He says that frequency is more important than intensity. So smaller things done in a regular interval frequently brings more happiness than a one in a while event. So small trips every weekend is far better than big holiday once in a year.

4. Overpriced insurance & warranties – He explains that overpriced warranties and insurances don’t bring happiness. It’s only exaggerated information that people will feel safe with the extended warranties and overpriced insurance. So he suggests that we avoid them.

5. Delaying consumption – Expectation increases the pleasure, says Daniel Gilbert. The thought and feel of buying something new will bring more happiness and pleasure than the event itself because when you buy it, the pleasure and happiness is over but postponing it will bring added pleasure during the time period.

6. Peripheral purchases – When we something in a distance will affect our day today life because we can’t visit it very often and the maintenance will cost us more.

7. Comparison shopping – Most of the time we spend more time comparing products and end up buying an undesirable product than a more desirable product because most of the options that we thought were different will have no effect in the functioning of that product.

In my point of view, money can buy happiness if it is spent wisely. In today’s materialistic world, money plays a crucial role in deciding even people’s character. Everyone in the world is after money because without which there would be no recognition even from one’s own family. Although there is no doubt that money can buy us happiness, where we spend definitely increases or decreases our happiness. One is not going to be happy by receiving money but by giving and sharing things with others. This pro-social behavior is what is more desired than keeping the money for oneself and end up in despair. Money alone will not bring happiness but what we do with the money brings happiness. Most of the time people will keep saving for a bigger holiday abroad and save more money but in the process they will lose all the small happiness that they could have enjoyed.

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