Money Isn’t Everything, Not Having It Is

I’ve had many, many debates about money and its significance in our lives. I’ve been on both sides of the argument at different points in my life, and have met dozens of people that are on one side or the other. Basically, people either believe that money plays little to no role in whether or not a person is happy or they believe it does indeed play a big role. Since I’ve argued for both viewpoints, I have to say that I fall somewhere in between.

I can’t say that having money guarantees happiness because I know there are plenty of rich people that are unhappy out there. At the same time, I have seen so many people miserable with their lives because of the problems that arise with the lack of money. So it is clear to me that money doesn’t equal happiness, but I do think its part of the equation.

When it comes to the equation of happiness, I feel that a person’s mental attitude is actually the biggest factor. Everyone has their own definition of happiness, and their own perception of life itself.  And their mental attitude determines how they perceive things in life, good or bad.

So, if happiness is mostly determined by a person’s mental attitude, why does this argument even exist? The answer is simple but so often overlooked. Money doesn’t guarantee you happiness, but it sure does make it a heck of a lot easier to achieve. Or to put it another way: Money isn’t everything, but not having it is. Imagine a life where you had more money than you’d ever need. You would possess the following things that even with the best mental attitude you can’t necessarily have without money:

• Freedom: Sure, we live in a free country. But most of us aren’t free to do whatever we want. For example, how many of us can on the spur of the moment go on a vacation somewhere overseas for a month? Even if we had a little money saved up, we can’t just leave without letting our employers know ahead of time. And in a world where you have more money than you’d ever need, you don’t rely on that employer for your next paycheck.
• Time: If you have a full time job, it means that almost 30% of your days are dedicated to work and work alone.  Five days week, you spend almost 10 hours doing things related to your job. 1 hour to get ready and to drive to work, 8 hours on the job itself, and 1 hour to get back home during rush hour. Let’s put that into perspective. Let’s say you work for 40 years (ages 25-65) before you retire. At 10 hours a day, 5 days a week,  50 weeks a year (2 weeks subtracted for vacation time)  over 40 years, you will have worked 100,000 hours or about 11 years. And that’s counting full 24 hour days! Assuming one sleeps 8 hours a day, that comes out to 17 waking years. Ask an elderly person what they would do with 17 more years in their prime.
• Health: This is a big one. When you have a lot of money, generally your health will be better. This is because not only will you be able to schedule more checkups with your doctor, you’ll be able to afford eating healthier. But most importantly, you’ll have less stress in your life. If you really think about it, a lot of the things that cause stress are somehow related to the lack of money. And remember, stress is one of the biggest causes of illness.
• Luxury: This is last on the list for a reason. When most people think about being rich, luxury is what comes to mind first. This is probably why so many people are against the idea that money can bring happiness. It would be superficial to think so. And if luxury was the only thing that money brought, than I would agree with them.

Sure, money isn’t everything. But freedom, time, health, and luxury are just a few of the things that money can help bring into your life. And the lack of money can bring the exact opposite. I don’t know about you, but to me having these things are important, but even more important is not having the opposite. That’s my motivation to be financially free. What’s yours?

Tagged as: happiness, health, money