Can you be happy without being rich?

by Jen (July 17, 2008)

A recent guest article by Saravanan P of Engineer’s Finance at Get Rich Slowly asks: Is It More Important to Be Rich or to Be Happy? The answer pleasantly surprised me:

Being happy is a state of mind and heart that does not matter whether we are rich or poor. But we can only make statements like “It’s more important to be happy than it is to be rich” when we are rich and not poor. Being rich always gives us the power to do things at the time we want. In short, it gives us freedom.

Amen. Poor is a relative term, and Saravanan is talking about the sort of poverty in which you’re actually hungry for food you can’t afford. When your basic needs aren’t being met, you can’t even get around to the navel gazing required to sort out whether you’re pleased with how life’s going or not. Only someone who’s never known that kind of poverty would think happiness is more important than wealth.

That said, if your basic needs of food, shelter and warmth are being met but you want more money, you need to think long and hard about what it is you want from money, or you’ll never be happy.

• Protection against layoffs, rent increases you can’t afford, other financial factors you can’t control in your life. If this is your motive (it’s definitely mine), what you’re seeking is control and/or freedom from financial forces that control you. If this is your motive, then consider what’s controlling you. Is it just money? Or is it your employer? Is it your mortgage? Could you find the same control/freedom through moving to a cheaper location, finding a more stable job, or becoming self-employed, or a combination of the above? There may be much simpler solutions for you than “getting rich.”
• To provide for your kids/finance a cause you care about/have an income while you pursue your dream to be an artist/writer/etc. If this is your motive, make sure you don’t pick a method for increasing your income that takes your time or energy away from your kids/cause/dream, or you’ll be miserable no matter how rich you get.
• To compete with the Joneses. If you realize this is your motive, ask yourself why you judge yourself by a superficial standard someone else has set? It’s a never-ending quest, trying to be the coolest/richest/most up-to-date dude on the block. It’s time to start enjoying your life and your stuff, and stop worrying about what other people think. Chances are you already have a really cool life and all you need to do is relax and have a blast. And if you don’t love your stuff - if you find out you really didn’t want the very latest iPhone at all - sell it! Declutter your life and you may feel more free than any amount of money ever would have made you feel.

There’s nothing wrong with wanting more money (as long as you wouldn’t hurt others to get it). By being honest with ourselves about why we want it - about what it is we really want, that money represents to us - we give ourselves a good chance of being happy at any financial level above true poverty.

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