How to buy happiness with money
If you were to win the lotto, what would you do? I would settle my debt, leave my work, and buy myself a buggati. Even though it will never happen, it's still entertaining to imagine. According to statistics, your chances of winning the lottery are lower than those of having quadruplets or being struck by a meteor. That is, unless you're Evelyn Adams, of course. Adams won a $3.9 million lottery jackpot in 1985 in the state of New Jersey. She won once again just four months later, bringing her total compensation to $5.4 million, or around $15 million in today's dollars.
Adams was the first individual to ever win multiple lotteries totaling $1 million in American history. She essentially rose from working in a convenience store to having a value greater than some CEOs over night. Adams used her newly acquired income to pay off debt, establish a college fund for her daughter, purchase a car, and shower her loved ones with gifts. You'd be dead mistaken if you assumed that a tale like this would have a happy ending.
Adams found her privacy was vanishing soon after winning. She believed that she had to be seen everywhere she went. Additionally, while some people praised her luck, others disliked her for it. Still more approached her for money. She abandoned her ambitions to attend college and pursue a music degree, made a number of poor business decisions, and ultimately gave up a sizeable chunk of her riches. She gambled away the last of her money at the casinos in Atlantic City, and by 2012, she had lost all of it. She currently resides in a trailer park.
I won the American dream, but I also lost it, Adams would later remark about her experience. The fall was really difficult. It is known as "rock bottom." Evelyn Adams' tale is not very unique. Numerous lottery winners have seen their purported good fortune rapidly turn bad as the unexpected inflow of money destroyed their lives. I suppose the adage is accurate. You can't purchase happiness with money. That said, it isn't. Wealth and happiness are positively correlated, according to scientific research. Finding out how to use that money to buy happiness rather than simply having it turns out to be the secret. But in order to comprehend this, we must first provide a definition of happy.
Though you may expect it to be relatively easy to define, happiness is actually extremely difficult from a psychological standpoint. We have a special awareness of what feels pleasant thanks to the hundreds of different neurotransmitters that are involved. Each one has a particular function and is in charge of a variety of diverse emotional experiences. Dopamine, serotonin, and oxytocin, however, are by far the most significant of them. Dopamine and our reward system are closely related. Serotonin aids in relaxation. We develop ties and bonds because of oxytocin. When combined, these three chemicals form the happiness trifecta, a formidable chemical concoction that underlies joy, elation, contentment, and all other positive emotions. Aside from neurochemistry, our subjective definitions of happiness can be loosely separated into two groups: Pleasure and purpose
According to studies, these activities are a more consistent source of enjoyment than any material possession. No matter how thrilled you were to purchase that new smartphone, it will eventually age. The power will run out, the screen will break, and a new model will appear and capture your attention once more. Simply watch my complete planned obsolescence video to have an understanding of what I mean.
A once-in-a-lifetime journey to a distant country, however, will be cherished for years to come. What begins as a trip will develop into a tale you tell time and time again, bringing you joy on an ongoing basis. Of course, finding a little happiness doesn't require you to spend a fortune on a trip abroad. The advantages of attending a concert, hiking, or simply going out to dinner with friends are the same.
The experiences that allow us to develop while doing so are maybe the best investments. Feelings of progress and personal improvement are produced by learning a new skill or enrolling in courses at a nearby university. In fact, skill mastery is a key strategy in cognitive behavior therapy for treating a range of mood disorders, including depression and borderline personality disorder. Anyone can use this method to increase their sense of purpose and self-assurance.
Even better if you can share these kinds of events with your loved ones. Because interpersonal relationships are by far what makes people the happiest. We are sociable beings by nature. We seek a sense of acceptance, affection, and belonging. Therefore, investing on our relationships with money is the best use of our resources. Experiences where we may spend time with the people we love, partake in hobbies, and engage in other enjoyable activities are a terrific approach to do this.
Giving, however, is more effective still. You don't have to spend all of your money to benefit. Therefore, be judicious about the donations you make and make sure they are well within your means. Giving has psychological advantages that can be shown in kids before they turn two. Many of us instinctively recognize the delight of sharing before we can walk or talk. This isn't just some corny, sentimental saying. Instead, it has a direct impact on our neurochemistry.
We experience an increase in oxytocin when we offer someone a present. We feel happier, less stressed, and more secure as a result of developing our social networks. Additionally, oxytocin increases serotonin and dopamine, which adds to the overall happy emotional experience. This procedure is an evolutionary adaption designed to encourage the prosocial actions that help the tribe as a whole and ensure its survival.
We experience an increase in oxytocin when we offer someone a present. We feel happier, less stressed, and more secure as a result of developing our social networks. Additionally, oxytocin increases serotonin and dopamine, which adds to the overall happy emotional experience. This procedure is an evolutionary adaption designed to encourage the prosocial actions that help the tribe as a whole and ensure its survival.
If you ever win the lotto, keep this in mind. However, even if you don't, even if you've never created a Fortune 500 company or invented a ground-breaking new product, having money on your side can still make you happy. We can find that we're richer than we could have ever dreamed if we spend more money on experiences than on pleasures, prioritize comforts over pleasures, and take care of the connections in our lives.