FCP011 – Can Money Buy Happiness?

Welcome back to the Financial Conversation Podcast!

Hello again everyone! In this episode, we are pondering a question that can have an impact on your psyche and your personal finances: can money buy happiness?

We are examining this idea from multiple angles and the various aspects that go hand and hand with the idea of happiness gained from spending money.

Choosing what is important to you and how to spend your money is your choice, so we are examining what is important to each of us and dispersing tips about how to save money while still pursuing what makes us happy.

Many people debate the question of: can money buy happiness? There are times when it can and times when it can't. The answer may be simpler than you think.

In this episode we discuss:

  • 1:10 – Is $75,000 the income needed to reach the top of the happiness threshold?
  • 6:45 – Using money to make yourself happy with a “temporary high” from buying something
  • 14:10 – Do you get “stuck” thinking about your goals and unable to feel happy until they’re accomplished?
  • 18:15 – Why you should be grateful for everything
  • 23:30 – Experiences vs material things – What do we value more?
  • 37:15 – Can money buy happiness? – What about when you buy time by outsourcing?
  • 43:40 – The bottom line – Does money buy happiness?
  • 44:00 – Is balance the secret to life, or is it just our cop-out?

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