How Money REALLY Affects Your Happiness, Relationships & Confidence

in #money5 years ago

Dear Steem community,
How money affects our confidence relationships and happiness this article is the collaborative effort between practical wisdom and downtown success and see more articles from downtown success please see my posts let's face it we live in a materialistic society and as men we believe that living and expensive lifestyle and having more money will make us feel more confident loved and happy when we're born our parents try to give us the best education

How Money REALLY Affects Your Happiness, Relationships & Confidence.jpg

so that we're capable enough to compete after studies we work hard put extra hours in to make money as much as we can to afford a certain lifestyle but this belief that more money will make us confident loved and happy is far from true according to research conducted by Princeton University that happiness and income are correlated but only up to $75,000 the emotional well-being of a person rises as annual income increases up to about $75,000 but not further than that this makes sense because people who make significantly less than $75,000 spend a lot of their time worrying about basic necessities like having enough food to eat and covering the rent money can pretty easily alleviate those kinds of stresses so boosting one's income up to around $75,000 can help but as wealth Rises happiness levels remain the same in fact happiness might tend to decrease part of the diminishing return effect can be explained by adaptations as wealth Rises people adjust or get used to their new and better circumstances this increases their expectations and aspirations for example a newly rich person moving to an upscale neighborhood will make the acquaintance of other people who seem evil wealthier and that can diminish happiness he may be driven to increase earnings by comparison to others or a desire for material gains wealthy people also could face new problems tied to wealth such as children who become spoiled lazy or unappreciative now we know that money can make us happier after our basic needs are met let's talk about how money affects relationships according to research it's true that couples with extreme financial stress tend to have lower levels of satisfaction in their relationships emotionally strained by their financial struggle some people become more hostile or uncommunicative towards their spouses many couples even point fingers at one another for their financial downfall this is not to say however that low-income couples are doomed to have less successful relationships than rich people rich people also face lower levels of satisfaction in their relationships due to various reasons one of them is they are working a lot harder and they don't have as much time to spend with their spouse now let's look at the social relationship CNN once wrote this interesting article on what happens to people when they win the lottery people think that their life would turn out to be amazing if they won a lottery but according to this article people who win lotteries spend all their money going into debt and when they win the lottery all of their friends and acquaintances bug them for money which in fact ruins their social relationships so they have more debt and worse friendships after they win the lottery so whether you have money or you don't you will only have strong relationships if you share experiences and value to their lives keep your promises have open communication and be on the same page when it comes to financial matters now let's look at how money can affect your confidence can money make a person more confident in order to answer this question we first need to examine the way self-confidence works if you grew in a community that made you believe that tall men are more attractive to women than short men then probably you will feel more confident if you're a tall men now here is the interesting part if you were raised in an isolated tribe that taught you that short men are better than tall men then you'll have less confidence if you are a tall man it depends on your beliefs it's the same thing with money if you were raised to believe that money makes a person more worthy then certainly you'll feel more confident if you had more money unfortunately thanks to social media the world has become like a small village that makes you think that money is everything and we'll start money shaming you if you don't have enough of it this is why the majority of people right now believe that money makes a person more worthy and as a result they'll feel more confident if they're able to get lots of money the truth is confidence has very little to do with money there was research conducted by a college in which all the students were asked what made them confident everyone gave a different answer like going on a solo trip or pursuing a hobby but none of them said that money made them more confident I'm not saying that money is pointless and one shouldn't work hard for money there's nothing wrong in pursuing money if it's done for a healthy purpose the reefs why most people are pursuing money is because they believe the materialistic adaptations they think that a fancy house or an expensive car will make them feel confident loved and happy but the truth is often when we buy a new car we regret our purchase because we feel we may have made the wrong choice or that we have spent too extravagantly or something better will be available in the future this feeling is called buyer's remorse the reason for this is that when we buy objects they're easily interchangeable with other objects we get a brand new car but there's a new model out within the next six months material things tend to eventually become outdated or broken we get an initial boost in mood when we first buy them but it quickly dies off so the big question is how we allocate our money after our basic needs are met one of the enemies of happiness is adaptation says dr. Thomas Gilovich a psychology professor at Cornell University who's been studying the question of money and happiness for over two decades Gilovich and other researchers have found that experiences deliver more lasting happiness than things the experience of taking your family on vacation will strengthen your family bond the experience of starting your business or a solo mountain trekking will make you confident and at the end of the day happiness is always a collection of good memories and no material possession will ever match the kind of memories you get from experiences so the real purpose of money should be getting life experiences because only experiences will make you feel confident loved and happy and will that value to your growth

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