In the article “From the ‘Perfect’ Salary to Keeping Up with the Joneses, here’s How Money Really Affects Your Happiness,” Cory Stieg concludes that knowing the connection between wealth and well-being is crucial because this includes taking into account a particular income threshold for happiness, the significance of finding meaning in one’s work, the influence of spending habits on happiness, and the role of relative income. Her premises are:
- Research indicates that people tend to feel happier as they make more money up to a certain income threshold, estimated to be around $75,000 to $95,000 per year, and beyond this income level, increased wealth does not significantly contribute to emotional well-being;
- Job satisfaction and a sense of meaning or purpose in work are more crucial for overall well-being than a high salary;
- Spending money on personal growth, connecting with others, contributing to the community, and experiences tends to contribute more to happiness than material purchases.
In another piece – the TEDTalk video “Paradox of Choice” – Barry Schwartz states that the key to happiness is to have modest expectations rather than a lot of options, as having more choice does not always translate into greater well-being or pleasure. His premises are:
- The proliferation of choices has led to decision paralysis;
- Even when choices are made, people tend to be less satisfied;
- Clinical depression has increased in industrialized societies, partly attributed to the disappointment stemming from high expectations and self-blame for choices made.
Happiness is a complex topic, and its understanding changes over time. I stand that happiness is a balance of our needs and desires. I agree that we do not need seven figures on our bank accounts to be happy because satisfaction in life is not in material goods but in our experience and gratitude that we are still alive and our loved ones are with us. At the same time, people need to have a choice to be happy. It is not as big as we can see now in capitalistic countries, but having no choice will also not give more happiness. If I want classic black pants, but all stores have only jeans that are “the kind that used to be the only kind,” I will be unhappy. Also, it seems that in the fast-fashion world, we have too many choices. The truth is that we have an option to buy now or never if we want something specific but later. It leads to my main argument: happiness is understanding your needs and desires at the correct time. When they are satisfied, then you will also be happy.
3 thoughts on “Mariia Yarmolenko Conversation 5”
Hello Mariia, this is a very well written response. It is quite complex to see what may lead to happiness this is something that will be looked at as long as humanity exists. From what you wrote in your argument it seems that happiness is this fluid thing that as humans we constantly have to satiate these needs not only monetarily but emotionally as well, and in that I agree. The idea of happiness being this lifelong feeling for those that have achieved it i feel is a pipe dream, and in reality it may be more along the lines of what you stated for many (since its definition shifts from person to person). It’s this combination of real world change with emotional satisfaction that will constantly change as we change with time, and capturing those moments where we can actually satiate those real world and emotional needs in tandem, creates these moments of happiness that cannot be matched easily by most things. Traveling for many is always a good example, as it is something that often times costs money, sometimes a lot of it, but the experience garnered can be of the most profound and enlightening things one can do under the appropriate circumstances relative to the traveler’s goals of course.
Happiness is complicated and changes as we grow. I think being happy means having what we need and want. You don’t need tons of money to be happy. It’s about being thankful for life and having loved ones. But, having choices is also important for happiness. Too many options can be overwhelming. Happiness is knowing what you want and getting it at the right time. When our needs are met, we feel happy.
Hi Mariia,
I do agree of what you said about knowing the connection between wealth and well being. It is important that being wealthy does not guarantee well being. Also about your argument I agree because what you said is nothing but true. happiness sometimes depends on very complex things, and it vary from everybody for example “I will be happy if I get a puppy, but you might not be happy if you get a puppy” so it depends on our desires. Money is crucial for our lives because without it we cannot afford living, eating, clothing etc. But money will no satisfy everything, money cannot buy good friends, good partner, good family… At the end and realististic speaking, money don’t buy happiness, but without money we cannot afford to live.