Does money buy happiness? The short answer: It can. The long answer? It can – but if you’re not careful, it can have the opposite effect.
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Money & Anxiety is a bad mix that – more often than not – we don’t even realise we’re drinking.
The sad part is: Nobody talks about it. Almost every entrepreneur gets peer pressured to “grind hard”, while a bigger area of their life – health – is often overlooked.
This was ESPECIALLY true for Sarah herself.
You’d think someone like Sarah – young, super positive, and financially free – would be the last person to ever experience anxiety.
But things started to get weird…
The first strike: Insomnia.
At this point, Sarah couldn’t even sleep longer than an hour. She’d wake up completely exhausted, yet eager to get up – because her dreams were filled with nightmares.
Second strike: Pulse issues.
By now, things were really getting weird…
She started to her own pulse beating. ALOUD.
The worst part was that she could hear it getting louder – especially when she was trying to relax.
The third strike was a deal-breaker: She got bored of playing video games.
THIS WAS A BIG DEAL.
Before, she’d couldn’t go a day without playing video games.
But a year passed … and Sarah hadn’t even touched a single game.
It was only until then she knew something was definitely up, and decided to take a trip to the doctor.
And her results couldn’t have said it any clearer: Anxiety and depression.
Luckily, Sarah did recover from this.
But we know there are a lot of other people, like Sarah, fighting this battle silently. If this is you, we hope this blog reaches you in the best timing.
In this blog post, we’ll be answering the following:
- Does money buy happiness?
- Why do billionaires & athletes get depressed?
- How can you experience happiness every day?
Let’s get started.
Does money buy happiness?
The short answer: Yes.
But there is a more important factor at play when it comes to this question: HOW you spend your money.
It’s a scientific fact that spending money on material things doesn’t make us sustainably happy. Sure, we might have our moment in awe at those new shoes we bought, or that holiday to Bali.
But nothing beats the happiness and fulfilment of using your money to buy back your TIME.
One of the great things about money is that it allows you to spend more time with friends, family and pursuing hobbies.
This means spending money on things like:
- Hiring a cleaner
- Hiring someone to mow the front lawn
- Having a chef prepare your meals
- Hiring a nanny to take care of your kids
Buying back our time allows us to focus on the things we truly LOVE. And this has a direct, positive impact on happiness.
It’s funny though. Studies have also shown that a lot of households with normal incomes COULD hire the kid down the road to mow the lawn for them if they just bought less stuff.
And this would directly improve their level of happiness. Yet people will almost always choose to buy the STUFF and continue to mow the lawn themselves instead.
Why do billionaires and athletes get depressed?
This can be explained using the hedonic treadmill as an example.
You see, this is the scientifically observed tendency where all of us quickly return to a stable level of happiness. For example: If you won the lottery tomorrow, you’d get a HUGE boost of happiness. You’d be super happy. But eventually, you’ll return to your previous, baseline happiness level. Long-term it doesn’t matter.
Most athletes and entrepreneurs fall into this trap. After reaching a goal, they enjoy the rush of happiness and achievement. After a while though, that goal becomes normalized, so they try and reach bigger goals to achieve that sense of happiness again.
What we’re really doing (without realising), is associating success with happiness. And this is where we get trapped running our own hedonic treadmill.
This is dangerous. You may have noticed that in the entrepreneurial community, there is a LOT of peer pressure to be always working. Always hustling. HOWEVER, this mindset can eventually result in something that is the total opposite: BURNOUT.
A Swedish study showed that when we work, we fire different neurons in our brain. So of course, the more work we do, the more we engage them. However, doing this too much leads our brain to try and work more efficiently. So, it goes into survival mode and starts to rewire your brain so that your neurons start fire TOGETHER. This means it becomes harder to access different parts of your brain, such as the parts involved in problem solving, focus, and emotional reasoning.
Understanding how wealth can run you into a chaos doesn’t matter if you don’t know how to escape. Which leads me onto my next point…
How can you experience happiness every day?
While we get a big dose of happiness when something big happens, science has also shown that little things make us almost just as happy.
- Eating a nice apple
- Giving someone a hug
- Exercising and treating your body right
- Drinking a nice cup of coffee
The difference though, is that the happiness boost from these little things doesn’t last as long as the big ones. So, the key is to add lots and lots of these nice, little things into your life every day.
Indirectly, this is also a sense of gratitude: The quality of being THANKFUL. And is an awesome way of experiencing genuine happiness from the INSIDE OUT. Rather than the outside in.
To end on a good note, I’d like to leave you with a gift I think you’ll love.
Six steps to building a six-figure Dropship store:
In it, I’ve included:
- How just one “winning item” can earn $10k/month. Yep. A lot of people don’t realize this… but most stores make the majority of their money from just a handful of items!
- The right way to choose AliExpress suppliers. Picking the right AliExpress dropshipper is crucial to drastically reduce things like refunds. Learn how to pick the right suppliers.
- Why long shipping times DON’T matter. A lot of people are scared to start Dropshipping because of “long” shipping times. You’ll learn why this doesn’t matter inside.
- Why six-figure stores take ONLY 2 hours a day to manage. You’ll learn how they utilize apps like Oberlo to make their stores semi-automated… making managing orders super simple!