Table of ContentsSummaryIntroductionConclusionWorks CitedSummaryEvery person has a different understanding of happiness. In addition to having different thoughts on the subject, people have personal ways of being happy. Does money buy happiness has sparked a heated debate because not everyone in this world has the same opinion. It's an age-old question, the phenomenon of the effects of wealth on happiness and its corresponding impact. Say no to plagiarism. Get a tailor-made essay on "Why violent video games should not be banned"? Get an original essay In the past, proponents of reducing our focus on consumption have been largely motivated by the idea that there had something psychologically or spiritually unhealthy about high levels. of materialism. Meanwhile, in today's materialistic world, the expression that "money doesn't buy happiness" tends to be proven otherwise. Various sources discussing the correlations between money and happiness through topics such as prosocial spending, materialism, the pursuit of spending on others, and the effects of homelessness on physical and mental health. In our modern age, money can buy everything, including individual happiness. Many people believe that personal happiness is correlated with finance, while others believe that certain factors have huge implications.IntroductionAs we explore deeper into whether money can buy happiness or not, let's define the meaning of happiness and its relationship between money and finance. and the factors affecting both. So what defines happiness? We use “happiness” as a term of value, roughly synonymous with well-being or fulfillment. Others use the word as a purely descriptive psychological term, akin to "depression" or "tranquillity". Philosophers and thinkers of all generations have defined happiness as a mental state composed of positive thoughts and emotions that bring joy to the individual. Philosophers who write about "happiness" generally consider their subject to be one of two things, each corresponding to a different sense of the term: a state of mind, a life going well for the person who leads it. But questions about “happiness” and “satisfaction” in surveys elicited subjective responses. For example, general social surveys use a three-point verbal happiness scale, which asks the question: "Overall, how would you say things are going this way?" days – would you say that you are very happy, somewhat happy or not too happy with the life you lead? Different measures of happiness and life satisfaction correlate well with each other and, according to factor analyses, represent a single unitary construct. Happiness responses are correlated with physical reactions that can be considered to describe true internal happiness: people who report being happy tend to smile more, show higher levels of stress responses, and are less likely to commit suicide. In trying to arrive at a definition of happiness, researchers, psychologists, and socialists have arrived at two general theories of what happiness means. The first is the hedonic theory. This suggests that happiness – or well-being – is entirely about achieving pleasure and avoiding pain. The more pleasure you experience and the less pain you experience, the happier you are and the greater your well-being. The hedonic view dates back to the Greek philosopher Aristippus, who described the ultimate goal of life as experiencing maximum pleasure. The theoryEudaimonic, on the other hand, focuses on meaning and defines well-being in terms of achievement. “Happiness” refers to a measure of an individual’s evaluation of their overall quality of life (Veenhoven 1997). The term is generally used interchangeably with "life satisfaction." The term that encompasses both concepts is “subjective well-being”. For example, the extent to which we realize our potential in life. The Greek philosopher Aristotle explained that happiness is a combination of immediate pleasures and a life well lived. In other words, doing a good job with whatever you choose to do, while being free from suffering. This means that the amount of money people earned did not determine their happiness, but how they earned that money affected their happiness. According to Harvard Business School researchers Grant Donnelly (Millionaires' Happiness) and Michael Norton (Spending for Happiness), after surveying 4,000 millionaires, about 90% of them would agree to work for less money if it meant they would do something they considered personally rewarding. An article titled “Maybe Money Buys Happiness After All” (Leonhardst, 2008) and “If You're Richer, You're Happier” (Finkelstein, 2008) reports that the more money, the more happiness there is. A glimpse of millionaire happiness is limited to a single sample from Forbes' 1983 list of the world's richest people. The study claims that approximately 49 wealthy individuals each with a net worth greater than $125 million were compared to average earners in the same geographic areas. The very rich were, on average, a little happier than average earners and reported being slightly more satisfied with life. The authors concluded that wealthier people are happier than relatively poorer people. But the effects are weak. In addition to the relationship between happiness and the amount of money, the way people spend their money has been shown to influence happiness. For example, spending on others and giving to charity are generally associated with greater happiness than spending on material goods for oneself. The New York Times and The Times of London refute the long-standing assertion, commonly attributed to Richard Easterlin, that money has no effect. not “buy” happiness supported by its reasons. The idea that more money does not mean happiness comes from the temporary nature of material values. People's happiness levels only increase as income increases. For example, you earn AED 12,000 per year. You will barely be able to afford food, let alone shelter, and you will probably be very stressed or living off others by scavenging through trash. Now let's say you earn AED 600,000 a year, you can afford a house, a Tesla car and you can dine at a fancy restaurant and still save some money so you can travel first class wherever you want, but you you're basically doing the same things as before, but you're working a lot harder and you don't have a lot of time to spend with your family. Today, earning 12,000 AED per year, or 600,000 AED per year, is quite improbable, and it is also an absurd amount of money usually acquired by earning money with money and not by working harder or contributing more to society. This is where most people think of pleasure and not happiness. Material wealth influences happiness. But it depends on the ability of these materials to satisfy individual needs. The fact that more money gives the freedom to acquire material goodsimplies that it can directly make you happier. People have varied motivations in life, which influences their definition of happiness. For example, Andrew Carnegie donated the majority of his fortune to charities, foundations, and universities with the goal of leading a useful and dignified life. This explains the misconception that there is a relationship between earning more money and being happier in life. Happiness and satisfaction come from achieving personal goals and ambitions. Some are inclined to believe that being well off can be a plus and that, in the area of ​​personal happiness, a more simplistic lifestyle could increase the consequences of satisfaction. Furthermore, fundamental aspects of the minimalist lifestyle are linked to this reality that the downsides of sad events concern money-related events. As a concrete example, some scientific research undertaken by a prestigious university has claimed that the disadvantages of being in a money deficit are negatively correlated with the inability to enjoy life. It is therefore correct to assume that money affects happiness. The modern world has put a price on everything and as a result, for many, wealth is indeed the root and ultimate happiness. Having wealth has the benefit of sometimes allowing you to attend certain universities to get particular degrees, but to do that you need to have skills, talent, brains, and endless sleepless nights to back that money up in order to get your degree. Money can provide all the temporary comforts of life, but one must also consider what type of person also benefits from money. Additionally, someone who possesses vast wealth may be considered lucky by many, but the individual himself only realizes that if there is no one to share the bounty with, there is no in fact no sweetness, whatever the maturity of the fruit. Some people have a lot of money, but they are always bored and lonely, or a person dying of an incurable illness cannot be satisfied while having a lot of money. If we look at things from a practical point of view, there are many facts that financial pressure has destroyed relationships. The phrase “more money, more trouble” is widely believed to be true by many people. In addition to having more money, many people suffer from addictions such as drugs, which cause them to commit suicide, commit a crime, or use money as a tool to achieve these things. Even if more money gives you this pleasure, it does not guarantee that you will be happy. Money is just a tool. It is the courage to get through difficult times and finally the joy of overcoming them. Happiness is subjective and financial aspects do not determine it. Donnelly and Norton looked at the literature and found that money contributes to happiness by meeting basic needs – but that beyond a certain level, more money doesn't produce significantly more happiness. In the area of ​​personal happiness, a more simplistic lifestyle could increase the consequences. to be satisfied. Furthermore, fundamental aspects of the minimalist lifestyle are linked to this reality that the downsides of sad events concern money-related events. As a concrete example, some scientific research undertaken by a prestigious university has claimed that the disadvantages of money deficit are negatively correlated with the inability to enjoy life. Therefore, it is correct to assume that wealth affects happiness. Keep in mind: this is just one., 31(1), 21-33.