Jagoinvestor
December 6, 2019
What does “more money” give you in life? (shocking replies inside)
What does “more money” give you in life?
I asked this question on twitter a few days back and gave 3 options to choose from. Here are the results
What does “more money” gives you in life?
— JagoInvestor (@jagoinvestor_) November 11, 2019
A total of 120 people voted on the question and I got the answer somewhere on the lines of what I have always believed in.
Are Happiness and Convenience the same?
A lot of people confuse “convenience” with “happiness” and hence believe that getting ultra-rich will make them very happy in life. They don’t realize that when they will get ultra-rich, they will be able to afford everything from nice house to amazing vacations, all the gadgets they want and fancy cars.
This all will make their life super easy and they will not be worrying about anything in life which can be bought with money.
But that’s not “happiness”, its “Convenience”
Money and Happiness
There are many books written on the topic of money and happiness and there is tons of research to conclude now that an increase in happiness you get out of having more and more money keeps diminishing over time.
So may be quite unhappy when you are poor because you are frustrated and have no idea where the next meal will come from.
Going from Rs 10,000 to Rs 1,00,000 (increase of 90,000) is very different than going from Rs 1,00,000 to 2,00,000.
Your life style will not drastically change if you earn 20 lacs a month instead of 6 lacs a month. But it surely is a big change from Rs 20,000 a month to 80,000 a month.
Out of 120 people who voted on my tweet, 76% people choose “more convenience” as their answer and only 12% choose “more happiness”. I am sure people who choose “more happiness” still need to see a good salary in life
I personally think that you surely need to aim to build great wealth and aim for huge income because more money will surely be better than less money in life. At least you have one less thing to worry in life and that is MONEY.
Around 12% people also voted for “more worries” as their answer. Money can also bring trouble in life at times, especially if you are not ready to share the fruits of wealth with others and if you have no idea how to extract happiness out of your money.
There are many examples on earth where people have done suicide and gone mad while their bank accounts had millions. Remember that unhappiness can come from various sources like relationships, health, how you feel about yourself, family issues and money.
What do you think about this topic?
Please share your thoughts about “What does more money give you in life?”.
Let me make it clear that above points are my personal thoughts about money and I accept that different people have a different experience in life which shapes their relationship with money. I would love to see how people think about this topic.
I would agree with the “More Convenience”, except that I would use the term, “More Options” — whether I am thinking of starting my own enterprise, supporting my child in an “off-beat” avenue which he/she really likes but which has no short-term earning potential, a choice of hospitals for medical treatment, a choice of hobbies to cultivate, and so on.
Hence being financially-independent ASAP is of paramount importance.
Thanks for sharing your views Koustubh
Well informative. This is important as of high education costs and daily expenses increasing, its really difficult for middle class family to live. Due to that, most of them are chasing for money.
Thanks for sharing your views on this Abhishek !
What is happening within the middle class is an unspoken travesty. The pressure to maintain a certain lifestyle is eroding their capacity to enjoy any given moment.
Thanks for your comment Sanjeev .. Please keep sharing your views like this..
Manish
Your poll result indicates that money can buy convenience , not happiness. Happiness and worries are state of mind/ feelings.
Convenience may be more related to physical aspects rather than mental aspect.
Yes, mostly that’s what money gives you .. more of physical comfort.. .. It also gives you mental comfort, but we generally over estimate it. There was a time when there was no concept of money in this world. I am sure people were happy back them too !
Manish
yes money needed but one part of life it fill your needs but for feeding soul you don’t need money…so chasing is good but you have a clear vision how much money you need in life for living a well settled life not confused between happiness and money.
Good point
Informative Post
”Money is a good thing to run after. It is very important to be financially stable but you have to keep your wrongs and rights in mind. Don’t shy away from earning but without selling your soul” By : Shahrukh Khan
Exactly.. that’s what we are also talking in the article!
Dumb quote from SRK. These guys sell even face creams for money and promote racist mindset.
The best financial advice is one NOT handed to you by the famous. Wealth and Fame should be considered mutually exclusive in my opinion. But agreeing with one thing, that one should not shy away from selling one’s soul for money (especially in this day and age)
Thanks for comment
I need more money to serve the society. I have an ambition to build an organisation to serve mentally retarded people, who roam the streets, explore garbage/dustbins for food. Because they are treatable, the disease has medical solutions. But my monthly salary cannot aford such a grand idea. So, I need more money to make my dream/endeavour come true.
Very noble thought.
You can connect with this group:
Sheows.org or oldagehomeindia.in
They are also doing truly Noble work.
More money will boost my confidence and also feel secured. This will ultimately lead me to a better life
There can’t be any doubt on the fact that more money does not necessarily mean more happiness. As rightly pointed out, increase in earnings, say from 50 thousand to one lac gives more happiness than say from 10lacs to 10.5 lacs. Very well written article. Kudos to the author.
Thanks for your comment.