Having Money Does not Determine Happiness

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In an age characterized by the dominance of materialistic values and the pervasive influence of consumer culture, the idea that having money is equivalent to experiencing happiness has firmly entrenched itself within society's collective psyche. This viewpoint is consistently reinforced through various media outlets that portray wealth as the ultimate achievement, thereby making affluence a prevalent measure of both success and contentment. Nevertheless, despite the attractiveness of linking financial prosperity with happiness, such a notion needs to be revised and more accurate. This essay aims to challenge the misconception that money is a reliable determinant of happiness by exploring the realms of psychological well-being and interpersonal relationships.
Approaching the issue psychologically, the intricate relationship between money and happiness is more nuanced than initially perceived. According to Friedline et al. (2021), a concept intricately linked to one's state of well-being, as articulated by the Consumer Financial Protection Bureau (CFPB) in 2015, is financial stress. It manifests when families encounter obstacles in meeting their current and ongoing financial commitments. This stress is commonly assessed by considering the physical or mental health manifestations that arise from challenges in satisfying basic needs, managing bill payments, and having financial reserves at the end of the month. Based on this, wealth