What They Don't Teach You About Money & Happiness
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- čas přidán 27. 08. 2020
- Does money buy happiness?
Can more money make us happier?
The answer to these questions is: Yes... And no.
It really depends on the individual, the situation they're in, and how they're spending their money.
In this video I'll examine the relationship between money and happiness.
And hopefully you'll be able to answer those questions for yourself.
Sources:
75k mark: www.pnas.org/content/107/38/1...
Relative position: www.semanticscholar.org/paper...
Relative position 2: www.ncbi.nlm.nih.gov/pmc/arti...
Lottery winners: www.researchgate.net/publicat...
Working more vs working less: papers.ssrn.com/sol3/papers.c...
Spending on others: www.researchgate.net/publicat...
Images © Piers Baker www.svgdoodlewhiteboard.com
This channel helps me lot to become Better Than Yesterday
That is why the channel is even called that
I agree 💯
Mohammed Arsh M 23 u are the best
@@emmag8620 thanks a lot🥰
Mohammed Arsh M 23 What shall we chat
I've always felt that having more money than you need, never really makes you happier... But not having enough money, can cause a lot of despair.
So true! 👍
Exactly!
Having ENOUGH money isn’t the key to happiness. It’s the key to a lot less stress because when people have money the are granted the ability to have control over their lives without the people who control the things we need being able to lord over them.
You said the fact!!
The key is to be contented. It's not that buying a 5 dollar ice cream would make you happy. It's that you are being contented with what you have.
"I just want to be rich enough to be unhappy but not enough to be miserable."
-Laura (The Orville)
brah, imagine being so fucking dumb that you don't know what to do with your money
That's deep
If you go from dirt poor to middle class I think you'll get a nice boost in happiness. But if you go from middle class to upper class your change in happiness isn't as much. The poorer you are the more $1 will boost your happiness, while the richer you are the less any extra $1 will boost your happiness.
well said, I feel the same, going from my place right now to a ¨normal¨level would make me happier for sure.
Perspective. The same applies to our perception of time spans as we get older
Great ill screen shot that :D
People just want control over their lives without the need for the systems around them to step in and make it more tedious and sadly we made excessive amounts of money one of the requirements for that.
That's called marginal utility.
This guy has taught me literally everything 🥺♥️ MOST HONEST AND GENUINE PERSON ON THE INTERNET
“Too many people spend money they haven't earned, to buy things they don't want, to impress people that they don't like.”
― Will Rogers
Cars.. The #1 thing they buy to impress people they don't like. I love the fact that I don't care what my car looks like, I drive it because it does the same thing as theirs without the monthly repayments.
Very good video , refreshing
And they believe this is a necessity.
Money doesn't bring real happiness but ofcourse it brings happiness when you're able to afford those things you need
And what things do you need?
@@MrSojek it differs by people's personality and society
but what about when your floating in the Caribbean on your own yacht with your extremely happy family lol
Needs are subjective.
Money is a basic need, like food and water. When you're thirsty, you need water to drink. When you're hungry, you need food to eat. But once you're quenched and sated, you don't really want anymore food or water for the time being. Money's the same way. You need enough to get by, and maybe a little bit more to enjoy a nice night out once a week or so. But overall you don't need anymore than that. Not having money is detrimental. Having extra money is not really a big deal. While some may argue that if given the option, you would much rather satisfy your hunger cravings with gourmet meals than a cheap turkey sandwich and the same argument can be made with money, in that if you needed to fulfill your house and transportation needs you would like a nice house and a fancy car if possible, that still is mostly a need. Once your stomach is full, you don't care for much more than that.
Basic needs are like a bucket with a hole at the bottom. They consistently deplete and need to be maintained. But having more of that need will just overflow, so there's no point.
“Money often costs too much.”
--Ralph Waldo Emerson
Great quote!
This channel is amazing. I first found you for the summary of atomic habits and then the chain reaction started. I'm finally at a place where I'm going to give all I got to better myself. Truly be better than yesterday
Money doesn’t make us happier. Having ENOUGH money makes us less stressed. It’s power and freedom in a capitalist society. Not to mention that at least in the United States most people don’t make $75,0000 therefore more people could have a higher quality of life and aren’t getting one. That’s why money is tied to happiness. Because everyone doesn’t have enough for the notion to dissipate. Havi the freedoms to live like a normal person but if a big expense comes up it doesn’t phase you as much is what people want. If their car breaks down they don’t have to decide between getting it fixed or getting a new one. They can just say “I’ll do this” and be done with it because money isn’t a factor. With enough money money is no longer apart of the equation so people can focus on the other problems in their life. If I could walk I to a dealership and pay for a car just as easily as I could pay for a burger then that takes a lot of burden of of my end. After all, the things that we need to get ahead in life and not get screwed over tend to be the most expensive things because the people in control of those things know people will do anything for it. Being self made without a degree isn’t for everyone so some people want to go to a good college ($$$$$), some people just want a reliable form a transportation ($$$$$), some people just don’t want to live in a place that dying by the day ($$$$$), most people just want control over what happens in their life and to being able to determine that without the strain of the systems in place around them but that reserved for the people with ($$$$$$$$$$$$$). When I say control I mean people want to be able to live without those who control the things that we need or want lording over us who have less than they do. Money is power. Someone actually asked me what I think they best part of being wealthy would be and I said “people who have enough money can say no to other people’s no because with money you can control the situation.”
Money takes you from being unhappy to being a bit happy, but not much further
To get better than yesterday makes me happy. ^^
"A calm and modest life, brings more happiness than the pursuit of success combined with constant restlessness."
-Albert Einstein
Please do one on "can fame make you happy?"
Can having a mansion and 100 asian maids make you happy?
@@Zeriel00 Nope.
@@Zeriel00 no
famale*
Ask Kurt Cobain, Robin Williams, Ernest Hemingway...
"The more you learn, the more you earn"- Warren Buffet
The comparison is the end of happiness and the beginning of dissatisfaction.
Fact!! Agree
It’s less of money buying happiness, and more of money *buying you options to escape sadness.* When you’re poor, you have no such choice.
Well said!!👌👌
Wow. You are back! I missed you channel.
Money doesn't buy happiness, but poverty doesn't buy it either.
From my point of view, money has to be seen as a means, not an end.
Define the life you want to lead and calculate how much it costs, you only need that amount of money.
Very good logic.
Money only makes you a more extreme version of what you already are. If you were a happy person before you made money, you will likely be happier. If you were mean you have more power to be mean to more people.
interesting thought. I think it does in a way make you happier because it keeps you busy it technically will allow you to DO MORE, doing more allows us to live more in the moment /present instead of our heads, which then makes us even happier
@@jintymcginty1469 Yeah that's true.
Wow it's unbelievable. I was thinking yesterday that money will bring all my happiness. And today this video came out. 🤭 well thank you for the video ☺ I loved it ❤❤
Your videos are absolutely awesome, as always! Keep up the good job! Thank you very much! 💚
Money does not make you happy but having no money makes life miserable. Nothing better than having a passion that makes at least enough money to be comfortable.
Dang, These tips are really gonna help my future. Thank you!❤️
One million subscribers. Congratulations. Totally deserved. Thanks for all your interesting videos.
Such a master in simplifying complex concepts! Keep it coming. Thanks
Not having the money even for the basic needs, breaks you from inside.
That's the reality.
Learning the Hedonic Adaptaion, I can only imagine how sad Dan Bilzerian's life actually is. Since he'd done almost all the awesome things, it's gonna be harder for him to find things that would bring him joy☹
This video came at the right time. Fabulous advice, gratitude is the best attitude.
I really liked those sentence transitions in the end when you are about to say "Better Than Yesterday".
but all in all your, channel really helped me a lot.
I personally know people that have literally nothing and enjoy life, and people that are CEO’s and only worry about money, yes money makes life easier, but it won’t make you happier...”We make a living by what we get, but we make a life by what we give” -Winston Churchill
good point mate💪
Omg at 4:25
I will definitely prefer option C. I do not care what my coworkers make. I seriously dont.
-If they make more... good for them, I'll just continue my life.
-If I know they make 20k I'll feel bad for them but I'll continue my life.
-If we all make the same, whatever, I'll continue my life the same in every scenario.
Do people really feel bad or good for these things?? Why??
You are doing great with these videos. I listen to them while doing everyday tasks
Option C is actually the best option. Sure you make less than everyone you’re directly working with, but you’ll definitely have room for promotions and could end up making the same 120k your colleagues are making eventually. Picking option A might feel good initially, but there’s no room for a promotion and you’ll most definitely never make anything more than 40k at that position in that company because everyone else around you is making 20k. Plus the dude in the 60k position can still flex on the 40k dude whenever he wants (same company after all).
Love your work! Thanks for your knowledge.
This is the most practical explanation.......if you are a person change from middle class to higher class you will understand everything...........
For me actually yes and quite alot. Qyite oftenly overlooked is the financial independence.
At this point I already learned based on when it comes to money only treating it as a resource is one way to balance between saving vs buying. Only using wisely to be responsible is one way that brings you happy on any hard work on your end to maintain the now part.
Listened to other instances by wrestlers like Chris Jericho & Vince Russo on examples they experienced made me understand to lead of not focusing on the money as one priority while just work hard and do the things in order to maintain the right set of mindset to not end up in a messy state.
Indeed, is not a simple question! At times , because of unexpectaded situations we run out of money and is Hard mantain the hapiness. In another hand we work on for hours a day, chaising more money, and we end up get sick and overwelming :(
In my humble opinion we always have to balance our needs, avoid to spend and taking care our self, and taking time to muse on about this topic.
Really interesting to learn about hedonic adaptation! Thanks for the knowledge 😊
THIS. IS. GENIUS.
congradulations for achieving a million subscribers! watching your videos motivates me to work on my own
When he talked about the social media part, definitely felt that.
A wonderful 👏 and well articulated point. This is what we all should be taught in school :)
Every video you made can provide valuable perspective for me.
In my current stage, I earn money for my own house. In advanced city which I am living, buying a house need so much money. People who are living here may spend 50% wages per month by 25 years for buying a house. It is the primary reason why people living in my city are unhappy.
Love your videos cause all of them have subtitles , helps me a lot to improve my english
"Money can't buy happiness but I'd rather cry in my fucking Buggati"
-Anoynimus
Dumb.
thanks for the vid bro! , 1 tip for anyone addicted to instagram etc. please delete all social media apps it will make you feel way better! get a detox from the dopamine addiction and stop comparing yourself with everyone because you are you! and you have your own journey!
All I want is the opportunity to prove money won't buy me happiness
PLEASE COME BACK
i subscribed to you! good video. thank you , and really helpful! keep being consistent , trust me! much love to u
You sir are a credit to mankind. Thank you
Excellent video i can assure you living close to ur job and avoidng traffic is crucial for happiness i always moved whenever changed job to a close aparment
The most precious thing money can buy is time
@L1m1tless not directly buy but save time. Like if you have cheff who makes you best quality/balanced food you save time not making food for yourself everyday. And save on benefits to live healthy and longer life, and longer life = more time.
And adding to that, money can only be earned by selling your time.
This video clears up a lot of confusion!! 😅
It's interesting to me how peer pressure plays such a big role. It's much more healthy to fine-tune our finances based on our own personal needs, not on what our peers are doing.
*Most* people don't upgrade their lifestyles when they attain/earn more money and that's the simplest way to have more money.
Also, when buying things, buy based on quality and practicality, not price, even if it takes a while to save up to buy it. It's always more expensive to buy repeats of a low-quality item, than to buy one high-quality item. I personally found this to be essential in achieving the happiness from money effect.
Thank you, Better Than Yesterday, for a great video. 😁
Iam loving this Channel
This is encapsulated nicely in the law of diminishing returns.
Nice! The Lord said do not go after the things of this world for our life is not made up on the amount of our possesions..rather seek the Lord's kindom and righteousness and all your needs will be added unto you.
Indeed, it must be said Financial wealth without balance, family and love is just MONEY, and we all know that money cannot buy everything. Health is the greatest gift, contentment the greatest wealth, faithfulness the best relationship. If we think money does everything, we will end up doing everything for money, and never find happiness 🖖
Money buys freedom.
without freedom you can't be happy.
freedom alone won't make you happy.
Money is a prerequisite of happyness, but not the only piece of the puzzle.
Depends on how you think when it come to choosing A, B, or C.
I'd pick C, because it would give me drive to work towards making $120,000. I have a lot of drive and I am vary competitive by nature. Which eventually causes me to rise to the top of my pear group.
Your every video is very educative
Please add more videos on finance. I have waiting for this masterpiece
111th view nice videos
Better than yesterday nice content we need more like this
Well Money can buy happyness if and only if you are getting enough money or more than enough money and you have wached this video🤣. you will be happy for your entire life.
Thanks to this intelligent guy❤️ for making this informative video about money and happyness.
Thanks for the Interesting topic! Believe me I definitely have learned a lot tonight at first because I'm learning english and your video has too much new vocabulary (at least for me) and by the time Know I now the money does not make us happier It depends how we spend the money!
I changed jobs, however i get payed exactly the same salary.
The only difference, now i am doing something i really like
that's one huge difference, good for you buddy!! :D
Excellent!
so, to continuosly experiencing the happniess, you need to going back and forth between low-middle class every few months...
Money doesn't make you happy but it removes 90% of the things that cause you stress and make you unhappy. the last 10% is up to you.
Completely agree with you
Well said, love your philosophy!!
The point about how much we earn in comparison with co-workers is so true.
In my first job I had a low salary for my degree, but everyone else there had bad salaries too since it was a shitty company, so I didn't feel bad.
Then I moved to a multinational top-10 company earning more and the happiness didn't last much after I learn everyone there earned more than me, even basic positions.
So I moved to a medium company and after a lot of negotiations, I accepted the job and ended earning way more than my coworkers. Though it didn't make me feel happy since as soon as the others knew how much I earned, they started complaining. And when a new girl without any experience got a higher salary and benefits than me because she has the manager girlfriend, that make me felt like shit again and I quit the company.
Now I'm starting my own entrepreneurship since I don't what to deal with that anymore, even if I still can't cover my bills with my earnings.
Money won't buy you happiness, but it also won't make you feel despair like when you have no money.
Thank you, i learned something new
Easy answer. More then I have know.
Hey can you please make a video on meditation, how to start with it and all basics? I know there are tons of videos/information on the internet but everything you say kind of hits home. Thank you and keep up with the good work. 🌸
I sum up the video : money makes people sad, so here's my paypal you can send me all you have and be happy for the rest of your life
Plz don't carry the burden alone, put my paypal up too.
@@fictionaddiction4706 ok i accept your help thanks man
Ok, where's your paypal bud
Awesome💯💯💯💯
We should make more money so that we could make our and others life comfortable . Giving money in charity makes us happy.
Making more money and spending it on learning something new and our hobbies also makes us happy.This is a good effect of making more money
If you ever decide to do a podcast, I would totally be up for it!!!
Money doesn’t buy happiness necessarily. But it does buy an individual options. It allows an individual to indulge in their hobbies, to relocate, to travel/take vacations, and many other things.
Lack of money leads to more distress and a lack of freedom/feeling of independence.
I enjoy your videos, thanks for the content.
Thank you, you help me so much
Yes bro you are right
For me happiness9 means the accomplishment of your goals (whether it's for business, family or individual purposes). Yes, more money can you make happier. But when it comes to have a diner every single day in that luxury restaurant or buy the latest phone not already commercialized trying to have many things but not giving a single damn about these things , would we not like to be in an infinite circle that we couldn't enjoy of our own interests in life and not being able to have this feeling of accomplishment. You know... This voice that tells us "you did it! Let's try bigger".
The test analogy makes logical sense (it must've been difficult if 50ish others failed)
The money thing is a fallacy, the the 60k live like you made 20k and only break into the difference if it suits your one if your systems for one of your goals.
Your argument would make sense if you lived on a planet isolated from all but your colleagues, then the total amount everyone makes determines the value the money carries, then choice A is correct.
But on planet earth, we should stop comparing ourselves to specific individuals and instead comparing to our idea if our ideal self.
Same with lotto, forget it and only spend systematic towards goals
Not my account btw. But I agree with the end, I am happier as a welfare recoveree than a full time manager and heroin addict. Don't get me wrong, I want to find a way not to rely on taxpayers money. But doing it my way is important, I can't do 9-5, and missing with one missile wastes orders of magnjtude more of your money than I ever have. I have skills an ideas and they will bring prosperity if I can focus and be the best ne I can be. But, with PTSD, manic-deppression, addiction before puberty there is a real possibility my emergency emotional response system will never grow past that of an elementary schooler....... Idk why I wrote all this, life's a bitch but hopefully less so than yesterday.
Famous quote from someone who was financially wealthy, about increasing his/her wealth : "...after awhile, they're just numbers." Why is that? Because this person KNOWS he/she has all the basic money needed, and KNOWS their basic necessities are covered far into the future, so they have security. With that out of the way, the rest is really icing on the cake. It's the first #'s at the bottom that make the big difference.
What a great channel
Lol I can relate..... takeaway used to be really nice when we got it once a week as a family, but now that I'm a bachelor and I have takeaway for convenience at least 4 times a week I keep finding faults with it and thus I'm not enjoying it as much anymore. I'll cook from now and have takeaway once... good points especially the Ferrari & BMW example
your chanel is so usefull, thank you so much
best channel
thanx for effort👍
but if you gift someone everyday, you will also adapt to it, eventually it will become a burden. so, everything in moderation. even act of kindness and pretty much everything else.
Nice video very informative 👍
Parabéns pela qualidade dos vídeos, seu canal é excelente e muito construtivo. Estou me tornando cada vez melhor graças às suas dicas. Um abraço de uma fã do Brasil. Thank you!
I feel the same
Eu penso a mesma coisa
Thank you sir
Money is the reason I study, how toxic my life is.
This is also the question I’m asking in myself...
I think this video may have convinced me to retire early.
Thank you so much for subtitles I am from Russia
Earning more money without knowing how much you need, leads to unhappiness. 🤑