Can money buy happiness? Popular wisdom continues to say “no”, but people keep acting as if the answer were “yes”. The drive to accumulate assets is a major drive in many lives. That may be an attempt to give meaning to life, a reaction to fear of not having enough, a leap for the brass ring of social prestige, or the need to make dear old Dad proud. Does it work?
Apparently, it does if you give it away. According to the Social Capital Community Benchmark Survey of 30,000 American households, people who gave money to charity in 2000 were 43% more likely than non-givers to say they were “very happy” about their lives. Brain function studies suggest that the high of giving money is as satisfying as getting money.
Too much money can be a drag. Dr. Martin Seligman, who is well-known for his work on learned helplessness, points out that depression is the inevitable result of the belief that one’s choices have no significance. People who are provided for in every possible way are just as miserable as those who are trapped in situations of dire want. Humans are hard-wired to enjoy overcoming problems and challenges. Cavemen who lacked the drive to survive had their genes washed out of the human genome pool thousands of years ago.
Money in itself cannot make us happy. However, it is a useful a tool to actualize what is important to us. If I am enamored with the idea of learning about anthropology and I have the money to enroll in college, then the money buys me the opportunity to experience a fuller life. However, it is up to me to find zest, significance and purpose in my studies. If I am concerned about the plight of the Asian red-throated warbler and want to help, my money will allow me to get involved directly or indirectly, giving me the satisfaction of making a positive impact on a world that is often unkind to the helpless.
From where I sit, making the world a better place is the ultimate source of satisfaction. If money is used wisely for that purpose, happiness will increase. Otherwise, it is just one more burden to look after.