The Truth About Money and Happiness

We have all heard it before… “Money can’t buy happiness.”

I want to explore this statement with you today and the mindset behind it because I actually agree with it, believe it or not. But I want to change the focus not to whether this is a true statement, but instead, to whether or not it is an applicable statement. Many in society seem to use this as the answer, but the answer is only as good as the question and the problem solved by the answer itself. And that’s where I think this statement of “money can’t buy happiness” falls short.

First, let’s explore a world where money could buy happiness. This would make happiness a buyable commodity like gas or milk, and it could be purchased freely using money. In this scenario, I don’t think this changes anything for most people compared to where they are at today. The facts are that 8 out of 10 Americans live paycheck to paycheck. 60% of Americans have less than $1,000 saved. 7 out of 10 Americans say there is “no way” they can retire at age 65. If money could buy happiness, the statistics show that the average person wouldn’t have enough money to purchase it in the first place.

The fact is money can’t buy happiness directly. Based on what I’ve described above, this is actually a good thing for people. Money can be used to buy things that make us happy though, and that is easily observed by taking your spouse on a nice date, traveling, saving up for that dream car, and many other positive experiences that are linked to a purchase.

But there are really two questions here: Where does happiness come from? What can and can’t money buy?

So, where does happiness come from? I believe happiness comes from being productive and valuable in the world around us. It comes from overcoming obstacles as we achieve our goals in life. It comes from doing things that make us feel good about ourselves. Happiness is within our control, and the responsibility for having it cannot be placed on other things or other people. Nothing can “buy” happiness. We create it ourselves.

What can and can’t money buy? Simply put, money can buy anything that can be bought. It’s like asking “what can gasoline fuel?” Well, it can fuel anything that can be fueled by gasoline. What can’t money buy? Let’s stick with my gasoline example. Imagine you and I driving down the highway and you see that my gas tank is on empty. You plainly tell me, “Jerry, you need more gas.” To which I reply sharply, “Gas can’t buy happiness.” I don’t get more gas, and we run out in the middle of the highway and are stranded until someone who has gas gives us some of theirs. This is a funny example, but this is how it is when we say, “money can’t buy happiness.” It isn’t relevant to the problems around us, it isn’t even the question being asked, and it solves absolutely nothing because whether it can or cannot buy happiness wouldn’t change anything in an individual’s life. If it could, it would be up to them to have enough money to make the purchase. If it couldn’t, it would still be up to the individual to figure out how to have happiness regardless of money.

The final question I want to ask is an important one: Where does money come from?

Does it come from the banks? The government? Rich people?

No. Money comes from being productive and valuable in the world around us. Back before we ever had “dollars,” it was a barter system. You produced something valuable that I wanted and traded it to me for something valuable I produced that you wanted. We both worked hard to serve one another’s needs, and in exchange, we feel good about ourselves and get what we want and are happy.

Production of value for others is the root of both money and happiness.

So, to all of those philosophizing on whether money can or can’t buy happiness, go be productive and valuable to others. And by doing so, you will end up with money and happiness.

And to those like me, who already are productive, don’t slow down. We live on a planet that thinks work is punishment and tries to tempt us with phrases like the one taken up in this article and other phrases like “don’t work too hard” or “you can’t take it with you.” The happiest people on this planet are those who produce the most value to others around them. You are right to work hard, and I want to give you permission to carry on. And by continuing, you will have both happiness and money, and that money is a resource that may not be able to purchase happiness (you won’t need it to because you’ll create your own), but it can help you improve the quality of life for yourself, your loved ones, and the world around you. And that effect will make you happy.

In closing, my mission in life is to help good people build more wealth who make the world a better place. So, if you’re a good person who wants to help make the world a better place and this article helped you, I want to encourage you to start planning your next quarterly trip and putting this into practice. And feel free to write to me and let me know how it went.

If you’re a client of mine and you’d like help leveling up, send an email to my team with “Level Up” in the subject line to [email protected] .

If you’re a follower and have not read my book The Blueprint to Financial Freedom yet, that is the place to start. This book covers the specifics for each level in the various chapters and you can grab the book for free as my gift.

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The Blueprint to Financial Freedom by Jerry Fetta

To Purpose, Wealth & Freedom,

Jerry Fetta

Jerry Fetta is the CEO and Founder of Wealth DynamX. He is a nationally recognized financial expert featured in Forbes, Yahoo Finance, Fox, Chicago Weekly News, New York Finance, interviewed on 100+ podcasts with world renowned experts, earning endorsements and affiliations throughout his career with names like Kevin O’Leary, Grant Cardone, Dave Ramsey, and Pamela Yellen.

Jerry’s mission in life is to help create millions of financially educated and solvent families achieving greater financial freedom and sharing the truth about money with those around them.

Learn more at www.WealthDynamX.com

(DISCLAIMER: The information in this content should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Wealth DynamX can and does not provide advice unless/until engaged by you.)