What if money *can* buy happiness?
A guest essay from Gretchen Rubin.
Today’s guest essay is from Gretchen Rubin, New York Times bestselling author, podcaster, and speaker. If you want to read more from Gretchen, sign up for her newsletter! It’s a weekly round-up of what’s making Gretchen happy, as well as practical tips, research, and resources about how we can make our lives happier, healthier, more productive, and more creative.
But first, here’s what else people are talking about on Diem:
We’ve all heard the truism that “Money can’t buy happiness.” Well, money can’t buy happiness, but it can buy many things that contribute mightily to happiness. Often money contributes to happiness in the negative: the lack of it brings more unhappiness than possessing it brings happiness (Good health is the same way—it’s easy to take money or health for granted until we don’t have it anymore.) People’s biggest worries include financial anxiety, health concerns, job insecurity, and having to do tiring and boring chores. But spent right, money can go a long way to addressing these problems.
Money can boost our happiness.
Philosophers and scientists agree that having strong relationships is a key—perhaps the key—to a happy life, and money can pay for a plane ticket to attend a family reunion, a babysitter for a date night with a sweetheart, or pizza and beer with friends.
Sometimes, even a somewhat silly purchase can make a difference. Because I suffer from icy feet when I get in bed at night, I was very interested to read research that suggests that having warm feet helps people to fall asleep faster. I bought myself an electric foot warmer, and—it worked! More sleep means I have more energy; more energy means I find it easier to engage with the world with compassion, imagination, and persistence.
Novelty and challenge are another key element to happiness, and money can pay for a trip to France, for a drawing class, or for a mountain bike. We’re happier when our lives reflect our values; money allows us to donate to causes we believe in, frees us to volunteer our time, and allows us to spend money to provide others with opportunities and support.
Is money essential for these aims? No. But money can make it easier. Some of the best things in life aren’t free. Plus, of course, one of the most precious things that money can buy is freedom from having to worry about money.
Spending money for happiness means spending money wisely
It’s important to note, however, that no matter how much money we have, we make choices about how we spend it, and those decisions can boost or undermine our happiness. Some purchases are more likely to contribute to our happiness than others. You might buy cigarettes, or you might buy fresh produce. You might splurge to acquire your fourth pair of expensive sunglasses, or you might splurge by signing up for a yoga class. You might spend money gambling in Las Vegas, or you might spend that money on getting a dog.
It’s important then, when we prioritize money, to also prioritize happier ways of spending it. Ask yourself…
If, by the end of the year, you’d achieved one thing, what’s the one accomplishment that would make the biggest difference to your happiness? Is there an affordable way to help yourself achieve this aim?
Consider the items you use every day. Would upgrading any of these items improve your experience? Pay special attention to anything related to sleep and exercise—they’re both very important for happiness and health, so they’re worth an investment.
Is there a skill you’ve always wanted to learn, for work or for fun? Could you purchase equipment, training, or classes that would allow you to expand your capabilities? (Remember, however, that buying something isn’t the same as benefiting from it. Be careful not to let your purchases outstrip your use–in other words, don’t buy a lot of photography equipment if you’re not taking a lot of photos.)
Could you make a small investment that would unlock a big benefit? For instance, if you bought an outdoor chair, you could drink your morning coffee on your porch; if you bought some graphic-design software, you could have much more fun with a creative side-project.
What values are important to you, and how might you use money to support them? For instance, you could donate money to a voter-registration organization, buy a home composter, or shop at a farmers market.
Good health is important for happiness. Do you need to make investments in your health, such as scheduling a check-up, doing physical therapy, or going to the dentist?
Reflection
Review your purchases, both big and small, for the last six months. Do you spend money in a way that reflects your values? For instance, maybe you were very eager to join a Buy Nothing group, but you never use it. If we want to make our lives happier, healthier, more productive, and more creative, it’s crucial to spend our money wisely.
What will you change about your spending habits? What items or purchases are “happy” purchases for you? What items or purchases do you regret? Share your thoughts on Diem!
ICYMI
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