Money Can't Buy Happiness? Here Are 5 Ways That it Can

• Author: Monica Jackson
• Posted: 2024-09-01

The old adage is that money cannot buy you happiness. However, experts are not entirely correct here. While money is not everything, having enough of it helps takes some of the extra angst out of your life. Moreover, money can buy you experiences that can help enrich your life. While we do not advocate spending your entire focus and energy in pursuit of money, paying attention to your finances is important and can help improve your quality of life. Here are five ways that money can help buy you some happiness.

It Can Make Your Marriage Healthier

Money is one of the most common reasons why spouses fight. In some cases, it will end up leading to a divorce because the spouses are under constant pressure. More money to go around means that a married couple will need to make fewer hard choices. It will also decrease the amount of stress that is present in their daily lives. The survey numbers in this area are alarming. Over 40% of Gen Xers who get divorced say that fights about money were the primary reason for their divorce. Even more financially stable Boomers are vulnerable to money pressures. These stresses are only heightened during times of economic anxiety. While relationships should be strong no matter the couple's financial situation, money invariably plays a role.

You Can Take Vacations

The ability to take some time to get away from your daily life is vital to being able to recharge and destress. While it seems depressing to say that we live 48 weeks a year for the other four that we can take off of work, many people are able to keep going for months after their vacation. In the end, experiences are what people remember in life as opposed to their jobs and careers. Money will make it easier to take a trip. Even if you do not go to a five-star resort, going anywhere away from home for a little bit will enrich your life. However, we would never recommend going into debt to pay for a vacation.

You Can Afford Hobbies

Even when you are not on vacation, you can add to your daily life by taking up some hobbies. A byproduct of most hobbies is that they cost money. Even if you take up something that seems to be free like some forms of exercise, it requires shoes and clothing. Being occupied and constructively busy, as opposed to watching something online or television will help your physical and mental health. However, many people do not take up hobbies because they cannot afford it. While you can try to find a free or cheap hobby, having some extra money every month will help you be able to add a hobby or two.

The Little Things Are More Available

You would be surprised how much of an extra difference the little things make in life. Some people hesitate to pay for convenience because they would rather save money. Each person must make their own choices based on their personal financial situation. However, certain conveniences here and there can reduce one's stress level in life. For example, having money to pay for housecleaning every now and then helps you walk into a clean home without having to spend hours doing the cleaning. Even a few dollar cup of coffee when you are in the mood for it can brighten up your day. Bidget experts usually advise that the little things are the first to go when trying to cut back on your budget, so extra money could help you keep these in your life.

You Have More Margin for Error

A scary number of Americans are one financial mistake away from a financial precipice. This could force them to take out a high interest loan that is just devastating to their chances of ever getting out of debt. Having some extra money will mean that one financial mistake will not put someone into a debt spiral from which they will never emerge. More wiggle room equals less stress, and you can sleep better at night knowing that you do not need to achieve absolute perfection in your financial life in order to get by every day. Extra wiggle room also means that you can buy a few extra things so you do not have to do things like laundry more often.