Why Money Actually Does Buy Happiness
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- čas přidán 28. 06. 2024
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In this episode, Chelsea covers the research-backed ways money has been proven to contribute to happiness.
Source links:
news.harvard.edu/gazette/stor...
www.psychologytoday.com/us/bl...
www.cnbc.com/2017/11/03/gretc...
www.independent.co.uk/life-st...
www.forbes.com/sites/modeledb...
www.bamboohr.com/blog/part-ti...
www.theatlantic.com/family/ar...
hbswk.hbs.edu/item/more-proof...
sociology.ucdavis.edu/researc...
www.purdue.edu/newsroom/purdu...
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2:05 Why Money Doesn't Buy Happiness
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Finally! Someone had the guts to say it! Yes, money does buy happiness. For me money, provides a feeling of security and takes a lot of worries away. And that allows me to spend my energy on better things than worrying about where my rent and grocery money is going to come from next.
So True!
yes! ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship.. even be a completely financially independent woman can be a luxury.. how do I do that while sick?
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
@@rba4377 good point bringing up luxury beliefs, it’s the new politically correct way for rich, privileged people to show off their status!
💯💯💯💯💯💯💯💯💯💯💯💯
Indeed money does not buy happiness. Money buys the freedom to pursue your own happiness.
Yes money buys happiness. It pays for therapy, physio session, acupuncture appointments, deep tissue massage, tutoring or private classes, nice vacations, eating organic food, paying for cleaners, I could go on…
As someone who used to have to split a $10/week grocery budget with her cat, yes. Money buys every form of happiness, every time
I'd like to add a personal anectdote on "rich people work more". I work for a small company of less than 1doz. people, yet the difference in tax brackets between the owners and employees is... substantial. The owners "work more" hours, but also during the day take personal calls on their work phone, visit with friends, run errands not related to the business etc. So yes my boss might stay an hour later than I do, yet she was at her hair and nail appointment for 3 hours so... make the math make sense
YES!!!! My boss worked 24/7 but got personal things done during that time... meanwhile as per regulation in australia at the time, i would only get paid overtime when i did 20 minutes overtime... so they would make me work for another 15 mins all the time... that never added up for me financially... but she could not see it. ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship..
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
Would love a video on luxury beliefs overall :)
I once saw a pie chart of how the average CEO divides up their time. At first glance it looked like a lot, as the chart suggested they work very long hours… but it quickly became clear that what they counted as ‘work’ included gym visits, lunches, personal errands, etc. Accounting for all that reduced their work hours to the same or less than the average person’s.
@@stupidsexyflanders2023 This reminds me of a video by some guy boss bro on youtube that was about "productivity" and what he does in a day... most of the day was spent NOT WORKING. He drove a luxury car around, went to the gym, went out to eat, etc. and justified all of these things as "it makes me more productive". Imagine that! Having time to do non-work self care makes a person more productive! Maybe stop working your employees to death now?? But nah, it's always different for them. Self care is an "investment" when you're rich, but when you're poor your just an expendable labor source.
I have been saying this forever! I have had money and I have dead broke. Having money is leaps and bounds better! When people tell me "Money does not buy happiness", I tell them "Neither does poverty." You can do what you want when you have money. I have never aged so much or been so physically, mentally, and emotionally ill as when I was in deep financial crisis. Not having money is a nightmare. Thank you for telling the truth.
Haha that is the exact reply I have too!
YES! ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship..
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
My mental health and level of happiness is better now that I have a partner that helps me be safe financially
I say the same thing.
Also for those who have been shamed by people for wanting to earn more with “Money is the root of all evil “… money isn’t evil it’s the love of it. Having a love of anything that makes you willing to compromise integrity and morality is a problem. There is nothing wrong with wanting to earn more. It can give you some freedoms, a healthier lifestyle and the ability to help others. This is just for anyone who grew up in a strict religious home like I did.
Yes thank you!
yes! ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship..
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
I agree
1 Timothy 6:10. Love of money is the the root of all kinds of evil.
Basically, be careful about your motives, and don't make money the end in itself.
'poverty makes you live in constant stress over your car breaking down'
Exactely. The biggest change in going from poor to middle-class is that i can now deal with a crisis (f.e. buying new glasses or a new phone within days, instead of duct-taping the old one together for months).
Having to wait for your next paycheck to buy necessities feels like your life slipping away week by week: always trying to catch up.
I always say, "Money can buy happiness, but it can't guarantee it."
This!
Yep, literally every dream I heard people talking about is connected to money. Move to another country? Money. Have a child? A lot of money. Open businesses, travel, learn new staff - absolutely everything requires money. It's crazy there are still so many people saying "Money don't give happiness" and when you ask what stops them from achieving their dreams their answer is or time or money. And about stress: psychologist also costs a lot of money. Here it is.
What about the living in a shack in the woods like Thoreau dream, but I see your point
I was just about to comment about therapy costing a fortune in most places. I'm in Canada. I've been seeking a therapist with a license/designation covered by my insurance, but the one I found who I might vibe well with costs $180/hour for a virtual appointment. My insurance only covers $500 per year.
So I guess I'll just stay stressed and (moderately) depressed, then.
@@joezawinulreviewsandreacti2509 property taxes. That's good hunting land, it's expensive! A shack probably costs $20-$50k. Digging an outhouse requires money or a strong back.
And then there's food. You might be able to do heat if you buy enough acreage.
And then you either need a car or enough credit for a credit card to order your groceries delivered.
I think the saying really means more money doesn't guaranty happiness. Or rather it's logarithmic, not geometric. The first $70,000 is more important than the second $500k. I would rather be happily married earning $200k a year than be on Musk.
But also financial stability may not guaranty a happy marriage, but lack of money or unequal income causes a lot of divorces.
But I think everyone understands. But as they say time is money.
YES! ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship..
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
Would love a video on luxury beliefs overall :)
At 11:35 you mentioned how low wage work limits opportunities to learn new skills needed for better jobs. Well, I recently learned a new term. A friend told me that during "downtime" at work he studies for the industry he really wants to be in. That blew me away. At every job I've ever had you are engaged with your work pretty much non-stop and if you pause for more than 10 seconds you're hit with, "If you've got time to lean, you've got time to clean". My friend also has time to shop, pay his bills, look up people on Facebook, plan his vacation, even make playlists. All stuff that low wage workers would be doing on their free time. Whoever said, "We all have the same 24 hours to work with" doesn't understand that 2 people spending 8 hours at work might have different expectations of them that limit what their free time offers.
Aye as someone who works in software - the actual effort I out into usually barely crosses 6 hours most days
Sure the occasional crunch of 10 hours or more happens but all the other downtime is time I do other things like study or catch upon media
Wouldn't move to a more restrictive job even if it pays more
Oh my gosh this is so true! Financial anxiety hits so hard and it's frustrating how much it plagues people. It's kinda hard to be happy when you're afraid you're not going to make rent or buy your groceries. There is *relief* when you reach an income that allows you to worry less.
Thank you for highlighting the value of time. More money buys you time. Not to mention the psychological impact of being "low class," when I was struggling I felt like a non-person. I remember walking into a restaurant once and they ignored me for 20 minutes until my more wealthy looking friend walked in and the server appeared out of nowhere instantly.
Or how when you work in customer service, the customers don't see you as a person, and sometimes will actively mistreat you because they can.
Had this. Me and my partner had plenty in savings, went into a shop and were going to make several high ticket purchases for home applicants and white goods. They ignored us because of the way we were dressed (we were working on our home that day)
Their loss
@@rba4377 say this AGAIN
My husband and I had an aha moment when we realized we could use money to solve problems. Late to the airport? Park in the expensive short-term parking lot to get in faster. Never get around to finishing painting the spare bedroom? Hire a painter to get it done! Your favorite physician stops taking your insurance? It’s not ideal, but you can pay out of pocket.
We were low-income students when we first got married. Once we started earning decent salaries, the freedom that money bought us was an absolute game changer. I’ve long thought that the “money doesn’t buy happiness” belief was a lie. How can you be happy if you can’t meet your basic needs? Maslow and all that.
Love this! When told "money doesn't buy happiness", I've often retorted "but it can buy peace of mind, and that's worth a whole lot"
One of the few people I follow on social media is Dan Price. He's the CEO of a company who read the original study about the "happiness threshold" being about $70k. He almost immediately decreased his own pay and increased every employees' salary to $70k or above, along with starting to provide all of these other benefits like free daycare. He's one of the few rich people who I don't find morally abhorrent, and he really put his money where his mouth is.
He's also been credibly accused of sexual assault, unfortunately.
Unfortunately he has a history of sexual and physical violence against women.
"The dubious claims of Dan Price, the Gravity Payments CEO paying everyone $70,000
Turns out 90% of the Dan Price story is completely made up and he's trying to make a fool of us all."
"But in a December 2015 recent article for Bloomberg, reporter Karen Weise raised revealing questions about the Dan Price story, suggesting that he was “writing his own origin myth one interview at a time” and hinting that the entire wage raise was spurred by Price to skyrocket him to CEO celebrity status and hurt his cofounder brother."
You should research this more.
@@ivacheung792 yikes. Well, there goes another shred of my faith in humanity.
@@suizilla I will. Thank you for the update. I've been following him since the story first made the rounds and hadn't heard of any contradictions.
What makes me happy is the casual way Chelsea says "rich people are assholes." Always makes me smile. 🙂
If a poor person and a rich person are both unhappy, the last one can still get the best mental help, dine out with friends, go on vacations, visit the spa, have fun outings with their kids, not have to worry if anything essential breaks down that needs replacing, etc., etc.
I see ultra rich like Howard Stern complain about being miserable. I think there’s something about paying everyone to do things for you. If you’re paying people to clean, raise your children, take care of your property, take care of your money, etc etc etc. i think you don’t feel fulfilled anymore like you’ve lost touch of something important to your humanity.
He's actually talked about how he's a lot happier after starting to work on himself and go to therapy. Also, he helps his wife rescue cats so I'm sure that brings happiness to his life because how can you not smile when you know you're using your platform to help save an adorable kitty?
The term money can’t buy you happiness is a bit tone deaf. Of course happiness does not increase measurably after making around 80-100k annually I believe but that doesn’t mean that money can’t buy happiness. Happiness can mean a lack of stress because you know you can pay your bills and feed yourself, get medicine and reliable transportation. Anyone who says money can’t buy happiness hasn’t experienced struggle or poverty.
YES! ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship.. even be a completely financially independent woman can be a luxury.. how do I do that while sick?
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
Towards the end of the video, Chelsea mentions the anxiety that comes from knowing that you should be doing but not being able to do it because you don't have the flexible income for it, such as not being able to make investments or save money. It was so validating to hear that specific stressor being recognized. I'm a regular watcher of TFD, but I'm also a broke college student. I'm desperately trying to pay off credit card debt while also saving what little money I can. It eats me up inside that I'm making so little money at my age, knowing that this degree I'm working towards may or may not help me. It's so stressful!
Talking as someone who is currently on a PhD stipend that's a several hundred euros below the minimum wage here in Germany (where I currently live), let me tell you - money absolutely does buy happiness.
Currently I'm just "getting by" in the sense that my income covers my fixed expenses but anything extra has me digging in my meagre savings. I have to think about every other expense - my friends go on a trip? I have to think really hard whether I can join. Something breaks? Forget it - I can't buy a replacement. I save diligently every euro left at the end of the month so I can travel to see loved ones that are abroad... It's honestly quite stressful sometimes if life throws things at you that you didn't budget for.
Money doesn't literally buy happiness but it buys you options, freedom and peace of mind that you simply don't have if you are short on cash. Those that tell you otherwise are speaking from perspective of privilege, if you ask me.
Definitely agree.
This is also why I didn't pursue a PhD. I ruined myself enough with an arts degree.
...you know getting a PhD is the height of privelege right? What's more a paid for PhD by citizen's money. What's even worst is when the research is done by government money and the result sold to companies for private profits. Basically socialising the cost and privatizing the profits.
@@aesyamazeli8804 I'm the first person to graduate university, let alone pursue a PhD, in my family - so yeah, I'm very aware that getting a PhD is a huge privilege. I also never said I regret doing a PhD or that I'm ungrateful for the opportunity.
What I am saying is that IMO junior researchers are underpaid. Making just around 1000 euros is not a living wage in an expensive European city. I make it work, but because of my firstgen background I also never realised how many people in academia are financially supported by parents or a partner to get to this point - I worked for my money throughout getting my degrees. Call me principled but I don't think a scientific career should be only for those that came from privileged backgrounds. What's more is that the funding situation for PhD students is very precarious and programmes are not adequately financed and planned. Literally nobody at my department, including the most talented students, managed to finish within the appointed three years which has people scrambling for extra stipends or write the end of their dissertation on unemployment benefits. If you ask me the system very much dependent on being able to exploit PhD students who need the degree to further their careers, and that to be honest is not a position of privilege in my personal opinion. Even if I chose to be part of that system myself, I don't think it is conceited to point out problems with it.
I'm also very aware that a lot of public money circulates the academic system, and that a lot of it goes to private companies (for example to scientific journals where your work is eventually published). A lot of people earn money of the labour of junior researchers (who do most of the science, run experiments, analyse data etc etc) but it just isn't the junior researchers themselves, lol
After not seeing my sister and nephew for 3 years, I was more than happy to pay for half of their flights so that they could visit us and my parents. It has bought my whole family a lot of happiness 😊😊😊😊. We also have the financial means to do excursions and we have the time, and time equals money.
"Money can't buy happiness": Another quote to keep the lower socio-economic class quiet
You need money for a comfortable life. There's no going around it and yes it makes us all happy. There are extremes but overall this is the Rule.
Even though my salary is the highest it’s been we have so much going out that I actually bring in less than ever after everything is paid. I’ve never had to say wait until next pay day and then we can buy whatever. But that’s my reality now. A lot of things around the house I can’t afford to fix. Expensive vacations are in the past. I’m not materialistic at all and I’m not interested in designer anything but money for security alone is happiness.
I’m a 25 year old pharmacist. I set my goal from 13 years old to make over $100,000 a year, and didn’t look back. I know people think I’m being vain to prioritize that but then I see patients who can’t afford the medicine to treat their conditions. So many phone calls about how much they need it but they don’t have that kind of money (expensive or not), so they have to just endure it. It’s sad. My sister needed her medicine just to stay awake for more than a couple hours. When her insurance didn’t want to pay for it, I’m glad I was able to afford spending a couple thousand on it for cash price without thinking about it. Feels good enough to me.
I think that's smart. With college and housing prices being what they are, I would tell any young person to aim for that. It's not greedy...it's being practical to have options and less stress in your life...and to be generous as you mentioned.
Money definitely can buy happiness because it can buy freedom in choices.
Everybody who has ever said “money doesn’t buy happiness” doesn’t know what it’s like to not have it. They have enough money and don’t know what it’s like to not have it. Even if they don’t have money, they’re often surrounded by family/friends who are able to help them out.
Money does buy happiness, however, after a certain amount there is a significant amount of diminishing returns. A 20% raise for someone making 30K, whilst not as large (numerically) as someone making 100K, will easily give them far greater peace of mind and breathing room compared to the latter.
Financial security completely can contribute to happiness. For example, I had my first daughter at 18. I was very poor. While we did have a really close relationship, her development was definitely affected by my stress over money. Cut to my second child at 29, I own a home, I am able to stay home with him and I am less stressed! I see that reflected in my son's experience.
100% YES!!! ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship.. even be a completely financially independent woman can be a luxury.. how do I do that while sick?
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
If anyone have low income, consider applying for any local or governmental aid.
I'm currently on food stamps right now as I'm trying to start a small businesses. For sure, being food secure frees up my mental energy.
If youre a student or someone working part time, please try to apply, esp if youre living in the Silicon Valley! California still has a surplus from The American Rescue Plan back in 2019
Yep. This is something I clued into a long time ago. Having enough money in conjunction with work conditions you don't hate overall equals less stress and more time to do things that make you happy and improve your health. I am by no means wealthy (at least by American standards). This year I'm hoping to at long last buy a home for myself and I have no clue if it'll be even remotely possible. But aside from that, I can live on my own, make rent, save money most of the time, and spend money on the essentials as well as little fun things usually without thinking much about the cost. There was a time in my life when none of that was true and the difference between then and now in how I feel is MASSIVE. Basically, the less you have to think about money; the greater your odds of achieving happiness.
Also, it makes sense that the $70K-$100K is about where people's desire for money starts to flatline. Granted, this will vary from person to person as will the local cost of living, financial dependents, and other such factors, but all things being equal that range seems to be about where all the things your average person might desire become financially comfortable. At that point, more money probably won't lead you to too much more than what you already have. Nobody wants to be broke of course, but I haven't met too many people who actually seriously want to be super-rich.
There are a lot of people that want to be superrich they just don't want to work for it. They rather play the lottery.
I've come to say, "Money doesn't buy happiness, but poverty brings misery."
Omg I can’t even express the feelings I felt when you said “To know what you should be doing but you literally can’t because of your situation.” I have been trying to explain to people around me this exact same thing. But nobody understands your situation.
Everyone is always like, “Rise above your problems”, “Everything happens for a reason” etc. I have been stuck in a vicious cycle where I haven’t been able to work or study from last 3 years because of some immigration issues. And I have this constant urge to do something more and feel like I should be doing so much more. I have so much potential but I literally cannot because of the situation I am in.
And listening to someone else say the exact same words that I have been feeling all along makes me both tear up and feel happy that someone does understand. Thank you so much for all you do. Your videos - every single statement you make - are helping alot of people. 🙏
i feel the same!
‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship.. even be a completely financially independent woman can be a luxury.. how do I do that while sick?
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
If money wasn’t tied to things that you literally need to survive like food and housing then sure, it wouldn’t lead to happiness per say, but until those things are uncoupled you can’t even think about trying to be happy without thinking if you have enough money to do so.
I remember having this happiness question pop up in one of my college classes. I said that I would be happier with more money and some white male students pounced on me with "money can't be happiness" and "you have to pick something else". By that time, I'd been supporting myself for 6 years on minimum wage jobs and trying to keep a roof over my head while taking a full-time class load. I refused to back down but there was no getting through to them.
I will rephrase to "money does not buy happiness, but sure facilitates it"
Whoever said money doesn't buy happiness clearly doesn't know where to shop.
As a kid my Uncle would say tell me, “Money isn’t #1 but it beats #2!”
Who would what?
I always lead with compassion with my clients, and have definitely told them the idea that money can't buy happiness is bullshit. We live in Toronto, a city where middle class is earning $100k+ a year but most people struggle to get past $40-50k. When I tell them that, I can tell it's like a weight has been lifted - a gaslighting that has made them feel crazy for years.
$70K doesn't even go that far in Toronto. That will not buy you a house/ condo. Howdy!
@@TheMagdalenaBB oh I completely agree! A lot of the people I work with though aren't even earning that much so they think 70k is what they need to survive Toronto. Reality is, nope. It's quite the shock but also not if you've lived here and tried to do the right thing financially.
I’m from Toronto and I second this. I’m moved to Mexico for the time being to save money to hopefully be able to afford a condo or a home in Hamilton in a year or so.
FINALLY SOMEONE GETS IT , I never met a poor person ( myself) who gonna be like " yes I am happy being unemployed , not being able to afford anything "
I'm not sure about happiness because that could mean a different thing for everyone, but I think a certain amount of financial security reduces stress and anxiety. But after an optimal amount of money-work-life-relationship balance, having more money stops increasing your quality of life.
I would like to say happiness is defined differently between people and culture. So if having a yacht and eating expensive food is your lifestyle, then $70,000 won't bring happiness. But if all you want is a 3bed/2bath home in the first ring suburb, then yeah, $70,000 might be all right. No one talks about this and it makes me go crazy. $70,000 alone can't buy you a cabin in the woods with a boat. $70,000 a year most likely means your children wont qualify for financial aid, meaning you might have to cosign loans for them.
Happiness is defined differently for everyone.
This is so very true. I grew up in deep poverty as a child and then slowly climbed as an adult. I still struggle to cerebrally acknowledge that I am considered wealthy due to that ever sneaky scarcity mindset. The truth is that I am able to do things with relative ease and not suffer financially. One of those things is indeed autonomy of time. I don’t have to work any specific job and I am ruthless about my time so I can do things like travel and work out and color (great stress reliever) and spend time with people I love and wonder why my dog’s toes often smell like corn chips. I’m blessed and grateful. Great video 🌟
Financial stress is well, stressful. Being able to afford things without having to constantly think about money would be a huge relief to anyone. Money can pay for experiences like travel, not to mention just the day-to-day.
Next time someone tells you “money doesn’t buy happiness”, say to them “Ok. Cool. So you wouldn’t mind giving me all of your money?”
Money doesn't buy happiness. Money gives you security and that is great, but you can still be pretty miserable inside.
I would say this...if money didn't buy happiness, then why do people with "old money" do everything in their power to keep it in the family?! Included lying, cheating, stealing to keep that financial power within their blood line.
A quick note on some of the language Chelsea used to report scientific findings in this video. In reporting results of empirical research, one should NEVER use the term "prove". Empirical research is based on information presently available and probabilistic statistical techniques. What we know now about anything could change in the future with additional data collection. Instead, use language such as "data support", "evidence indicates", or "results show", etc.
Thank you for sharing your thoughtful commentary! When I earned less money (than I should've been making). It was extremely hard to budget for massages, vacations, personal grooming, etc. None of these things should be a luxury, but it can be. Also, lower earning women are expected to tolerate toxic, unhealthy, abusive jobs, relationships, etx. by default.
In 2017, my income almost doubled and it allowed me to use my earnings to travel more, schedule regular personal grooming, time to explore my loves (hiking/nature Photography), and so much mote. Having more income and savings allowed me to resign from a toxic, unhealthy workplace culture in June. I don't feel "trapped" or tied to anything or anyone. More access to money and wellness tools is so liberating!
I’m just here to say, I love money and the freedom it allows us to have. Money is a blessing and anyone who talks about it like it’s not has never experienced poverty materially. Thanks TFD. You always level the playing field.
Hello, Chelsea. I just came here as a means of letting you know that I recently heard your interview with Guy Raz on How I Built This. Wonderful interview. I love that you highlighted the working practices of your company, such as the four-day work week and the system of paying your employees. Thank you for that!
9:32 mins- Chelsea speaking of working less hours not by choice reminds me of a job I had at an attorney’s office; sometimes on Friday he would want to leave early so he would have all legal assistants and his one paralegal wrap up early and close the office; but would also not pay us the remaining hours - we were forced to not work those hours. This was when I was being paid $11.00 an hour.
I love the fact that I can pretty much buy what I want when I want, within reason, for my daughter and myself. It hasn’t always been that way.
Even that $75K study is only 1/2 the story. That study found that immediate "happiness" i.e I feel joy/happy right now, did not increase beyond $75k. HOWEVER, the same study found that being content and satisfied with your life's purpose most definitely DID increase with the more money you earned.
I'm the happiest I've ever been. But having more financial security would be a plus. That's all what most people want in this life. Not asking to be millionaires and live in mansions. We're just sick of struggling and being taken advantage of.
Money gives us choices in life which could lead to happiness…
But at the end of the day, you still need to figure out what makes you happy.. and for some people, that could be a lot harder than earning more money.
Me and my boyfriend both got a promotion at our jobs, I earn almost 3 times my old salary and he earns the double, we have been so relaxed with our spending. Listen, saving really puts me into a relaxed mind space but having the freedom to save and still have money to spend is on another level... Plus even having money to put on the "save account" is a privilege that now I own and that before I couldn't really consider cause if I had saved then I wouldn't have had money to spend and to live so... Yes money buys freedom and takes away a lot of stress and anxiety and gives you the privilege to say "it's fine, whatever happens we can deal with it, don't stress about it"... And that to me sounds like happiness.
I was waiting for this type of video. We need to stop spewing the “money doesn’t matter” type of capitalism lies
yes! ‘Money doesn’t buy happiness” is one of many LUXURY BELIEFS! People that go around throwing
that quote around or for example preach about free love or non monogamic relations often dont come from those places and dont have to deal with their consequences like being raised in a single parent household or household with complicated relationship.. even be a completely financially independent woman can be a luxury.. how do I do that while sick?
As a naive 20 yo mid class girl I used to say that about money all the time, until.. fastfoward.. I was the one sacrificing everything little joy in life to try to build a safety net on minimum wage income.
Anyone who thinks money doesn't buy happiness is fooling themselves.
Money is needed for shelter, food, transportation, education, in the US healthcare, overall security, the bare minimum for anyone.
Certainly above survival is different levels of comfort, convenience and above all choice.
Money buys you the luxury of choice.
There’s *definitely* a strong correlation between Chelsea saying “rich people are assholes” and me pressing the Like button.
I love this video. I have always hated broke people telling, wealthy people telling me, that money doesn't buy happiness. Poor people say it because there trying to justify their lack of knowing how to make money, and wealthy people say it curb any feelings of jealously. As far as free time while making money, you tend to just work all day with separations during the day for the gym, lunch with friends etc. I have slept on the streets before. I just recently landed a job making around 180 a year and I can tell you I am much happier now working and making good money, then sleeping on the streets fighting rats from eating my feet!!
This! I have had both poor and rich people tell me that money doesn't buy happiness for the same reasons you stated! I have also had middle-class people tell me that to justify their mediocre, unambitious lives. They have often said this to me when I was going after my goals and dreams. People will try to stop your progress by telling you nonsense. They don't want to see you doing well! I am happy that you turned your life around, started making good money, and that you are doing well! Keep going!
Autonomy. When you are free to choose what you want to do with your time, you feel free. That is happiness. I disagree with you on people that make less have more time. When I was broke I worked two jobs. I worked a 40 hour a week job and then a 32 hour a week job with one full day off during the week. I found that I did laundry, shopping, cleaning, self maintenance (shave legs, mani/ped on self, etc.) on the one day I had off. Of course I wouldn't get out of bed until 10am, (that sleeping in was due to being hung over from Sat night....because I felt trapped and needed some release!).
With money you can provide better quality of life for your family and others. Not having stress about basic things like food, shelter, reliable car and able to buy what you want in cash.
Lol after this video I'm going to go pickup my bupropion scrip I've been on since 2014 with money for the copay and the health insurance coverage I also buy with money
Money LITERALLY buys happiness eg dopamine re-uptake inhibition
Every year when the big boss comes around he tells us that money doesn’t make your workplace better your coworkers do. Unfortunately he has sighted the same study 4 years in a row so at this point when he says it I just throw up in my mouth a little and then move on with my life.
This was a great video and my 2 cents on this matter is that money will buy you happiness to an extent. Like all great things, moderation and balance is needed to truly realize the full potential of being happy. The real weakness that we see in the eyes of the entrepreneur is that they are never satisfied with their success. They are always trying to grow larger or do something different to find more success, in the end they are never truly satisfied, even after they become successful.
Thank you thank you thank you! Thank you for saying this and for keeping on saying it.
I needed to hear this. Thank you.
LOve the last line "Tell then to go F*&%Themselves" I feel like that a lot 🤣
This right here is why I am subscribed to this channel. I appreciate this content. Thank you!
Well money buys you security and that often leads to a higher level of satisfaction. So yes, money does buy happiness and this is specially true to this country.
will never not be amused by people who reference daily coffee buying in budgeting and also say money doesn't buy happiness with zero awareness of the basic biochemistry of caffeine consumption
IIRC, that time use survey also codes house chores as "leisure." Brigid Schulte's book "Overwhelmed" changed my whole thinking on this.
Fantastic. And loved that ending!
Well, money itself won't make me happy. When I received some inherited money I was as sad as before. Buuut, suddenly finding a job wasn't so urgent, I could spend my time selling stuff that was in the house and pay the remodelacion with said money. I could afford therapy and the gym, I had time to walk a lot (walking makes me happy), I could afford all the exotic ingredients I like to try new recipes. So, money helped me to be able to go out there and find happiness.
On the other hand, there was. A time when I was broke. I survived with 3500 euros per year. At that time I felt sooo much freedom. I didn't have a home, nor job, nor debt, nor bills, nothing. I just travelled around, hitchhiked, volunteered in hostels, used couchsurfing, cooked Mexican stuff for other people in exchange of being able to eat a portion of what I made. I was so damn poor, but felt so fulfilled. Now, not gonna lie, having parent with money was a huuuge stress relief, knowing that if I made a mistake they would be able to help me made me less worried. Never needed it, but the option was there.
Freaking money, why does it have to be so useful? 😑
As a child, my mother used to always say “money doesn’t buy happiness but it sure helps”
Does anyone else struggle with discussing money or thinking about having to work at/with/for it? Depression and anxiety have always loomed large in my life for as long as I can remember, but around the topic of money these really seem to flare. Even clicking this video has my mood plummeting and my mind disassociating, though I'm pushing through because I know the message is important. Maybe growing up lower income (but still with enough) as a girl/woman has something to do with it? Or having issues around avoidance?
I like you get to the point and you talk about things as you see them instead of being hypocritical like most people. 👏🏻👏🏻👏🏻
Fabulous video! Thanks 🤪
Love this vid! Thank you
Money pays my therapy and it is a huge game changer in my life.
This is very true! I forgot which book I read this in, but it said "Money isn't everything, the lack of money is".
Having money to meet and exceed my needs has ALWAYS made me happier than not having money! I've always found the people making this bulls*it statement were those who had not been WITHOUT money!
Thanks, Chelsea! This was a good one, very insightful. Now that I am finally making my own money, I really appreciate the feeling of being able to do something nice for myself or others with that resource. :)
Love your videos! Well said 👍
My biggest factor of happyness is being childfree. I have so much time for myself. And I totally enjoy it. I can do whatever I want whenever I want. I don't like the idea to make someone else a priority in my life. I watched my friends becoming mothers. Pregnancy appealed to be mostly restrictions and physical suffering. Than weeks of pain and post natal depression after labor. Breastfeeding pain, sleepless nights. Stuck at home most of the time, stress or boredom. And breakdowns. I never wanted kids but seeing my friends so miserable and being trapped in this for two decades of putting their kids needs first - Motherhood became something that I see as a big destroyer of happyness in my opinion.
I have my money for myself, mothers either have to first care for the kids needs or are financially dependent on a man. And I know from friends that some guys start cheating while the woman is pregnant.
I know my happyness comes from having my time for myself and being financially independent.
One of my mother's old friend used to always say that money doesn't buy happiness but can sure give a good kick in the b*tt of unhappiness! When you don't have worry about your bills life is definitely much easier.
What an excellent video! Thank you for saying the truth!
Thank you!
Absolutely true. I'm not rich by any means, but I make a decent salary and am pretty good with my money. This month, I needed dental work and had the money to cover the expense. Also, my dog now needs surgery and I'll be able to cover the expense. Not being able to cover these expenses would of caused me great stress and sadness, but being able to cover these expenses has brought me peace of mind and, I would say, happiness.
I liked this video in the intro because you've never failed me - and I suspect this is going to be *chefs kiss*
This video hits is in line with what I have long felt. Its that combination of having the self awareness to know what you will enjoy and bring you happiness/fulfilment, the money to pursue these things in life while still having funds for retirement and security and the time to dedicate to these pursuits. An immediate personal example is the fact that I am watching this video between weight lifting sets but just got a message from my swing dance partner about when I might go see a band and dance and I would stay out for another band, socialising and more dancing all things I value if I didn't have to get up early for my 10 hour a day construction job t1hat funds all of the above. If I had unlimited funds I could workout weekdays have practice time, dance time, more friend time etc. Best get the workout done to go pursue happiness in other ways but a good between set video anyway lol.
Sure, but also working long hours at a stressful job to make a large paycheck is also not happiness.
I think if you can find a job that suits your lifestyle, doesn’t cause too much stress, earns you enough to keep up with your expenses (this will vary person to person), and gives you enough time to pursue other hobbies and interests…that’s happiness.
Great content! Keep it up!
Holy sh*t girl, you've nailed this!!! Thank you SO much! I'm a single mom, and I've overcome A LOT (left an abusive marriage, went into debt because of it, put myself through school for a new profession, graduated and got a good job). I know there's so much good there, but I truly miss having time to myself! I mostly miss being able to exercise whenever and however much I want (I utilize the small space in our apartment to the best of my ability). Thank you for recognizing ALL of the ways that having some accessible funds does improve quality of life! The reality is that time is money!
love the shirt Chelsea😍
Whoever said money can't buy happiness clearly never bought a puppy. 😁
I love Crystal Light too!!! 🙃
Money buys peace of mind for sure!