The world is driven by materialism. In this kind of world, the adage “money cannot buy happiness” continues to cause debates. Yes, financial security is necessity, but genuine happiness does not transcend from wealth. Happiness comes from within. Money can make living life better and easier in many ways. However, money makes people more greedy. It also leads to more stress amongst individuals, greater narcissism amongst those that have lots of money, subordinate amounts of apathy, a significant decrease in self-esteem and additional conflicted relationships.

Money gives us food, shelter, clothes, and materialistic items. Happiness stems from a person’s state of mind, not the sum of their money. The University of Minnesota’s research shows that the more money people have, the unhappier they become. The study stated, “Our wants can be insatiable—the more we get, the more we want.” That leads to debt, or in other words, stress. The negative tension from debt makes no one happy. It brings people financial distress and the pressure of maintain a specific lifestyle. Gaining wealth could trigger an endless pursuit that will leave people feeling empty-handed and unfulfilled.

Time Magazine writes, “Happiness is often misunderstood and misrepresented…we tend to think it only can exist in the absence of ‘bad stuff,’ so we spend money to avoid the unfavorable and uncomfortable…happiness can be found when we confront the discomfort.” People spend their money thinking it will make them happy, but in reality it brings short-lasting gratification. People that use their money thinking they will be happy if they buy what they want lack self-awareness. When one lacks self-awareness, according to Harvard Business Review, they are unable to accept criticism, unable to step into another person’s shoes, they find it difficult to ‘read the room,’ their egos are inflated, and they blame other people for failure and take credit for any successes. Becoming more self-aware of happiness can help in a fulfilled and balanced life– not a life of spending all of the money they make because they believe it would make them happier. 

Awareness of what exactly can happen to someone who believes and acts on the idea that money can buy happiness is a way to address the fact that money cannot. Understanding that money is a tool, and not guaranteed   happiness, can create a healthier mind-set. So can encouraging a healthy, well-rounded view of wealth by stressing the significance of relationships, self-growth, and purpose. Awareness will often foster a mind-set that true happiness does not come from money, but from intrinsic features, such as relationships and personal growth. Just being aware of the limitations of money encourages a well-being beyond financial success.