The constant message relayed in our
materialistic society that money is the most important thing in our
lives and the constant desire for more, have had far reaching
consequences for our societal value system and morals. This unending
pursuit of money has damaged family relationships, the environment and
global socio-economic systems.
Sadly, in our consumption-driven society
many of us have come to believe that all our worries would be solved if
we have more money. Indeed, wealth has become the ultimate measure of
who we are, and we have become defined by it. Chasing after money for
its own sake can damage our value system, and we pay for it in time,
health, and stress.
What does money mean to you? Do you
have a healthy relationship with your money? Do you worship it? Or do
you use it as a tool to achieve your goals? Does your life depend on it?
Would you do anything, to get it? What really matters to you? What
really does make you feel happy and fulfilled?
Continue after the cut....
It is important to understand your own
money personality and to put it in the right perspective. The ways in
which you make money and how you spend it reveal a lot about your
personality. This relates to the emotional aspects of money such as
needs, values, relationship choices, feelings about earning and career
choices, spending, saving, and investing. Issues of control, security,
self-esteem, and a sense of well-being are always evident when money
matters come up.
What do you need? Abraham Maslow was an
American psychologist best known for his theory of the “hierarchy of
needs” which he developed in the mid-1900s. This model served as a tool
for understanding human motivation and development. He identified five
levels of human needs that must be satisfied by one’s own environment in
order for an individual to reach his or her full potential.
Maslow’s pyramid illustrates human needs
stacked in layers with physiological needs at the base of the pyramid
which involves the most basic needs; that is, what a person needs to
stay alive, such as air, water, food, sleep, warmth, shelter and
hygiene. At the second level, Maslow places safety, security,
employment, money and financial stability, and good health. By the fifth
and highest level, human beings seek self-actualisation and fulfilment.
We have the desire and the ability to grow; doing something that makes
life complete such as supporting a cause or following a calling to
realise personal potential or seeking personal growth.
Why doesn’t the lucrative promotion or
the brand-new mansion in the best part of town keep us swathed in a
permanent state of happiness? We like to think that if we just had a
little bit more money, we would be happier, but once we attain that
goal, something still seems to be missing. It appears that the more
money we have, the more we want; but buying the car, boat, or bike of
our dreams will only bring transient joy instead of a deep, lasting
sense of fulfilment. We tend to overestimate how much pleasure we will
get from having more money.
Certainly, earning more makes us happy
in the short term, but we quickly adjust to a new lifestyle and all it
brings. Naturally, there is a thrill in having that shiny new car, but
soon most of us get used to it and start wanting the newer, more
powerful model. Having made a special purchase, we immediately dream of
acquiring the better, “latest” version. Scientists call it ‘the hedonic
treadmill’ – and many people spend far too much time on it.
Professor Emeritus Lord Richard Layard,
Director of The Centre for Economic Performance at the London School of
Economics, in his book ‘Happiness: Lessons from the New Science’,
discusses the relationship between happiness and rising standards of
wealth.
A critic of consumer society and the
all-consuming pursuit of money, he suggests that we eventually get
trapped on the “hedonic treadmill”: Our happiness begins to wane as we
start to take the new positive changes in our life for granted.
Money can bring happiness but for the
most part it is temporary. A dramatic change in wealth such as the move
from abject poverty to financial security can significantly increase
happiness, but satisfaction will be transient; its effect will only last
until the beneficiary gets used to the new status. Layard argues that
once poverty and discomfort have been eliminated, extra income is much
less important than human relationships. So how do we step off that
hedonic treadmill?
Having spent several years interacting
with people with various levels of wealth, I am convinced that money
does not in itself create or sustain happiness. It certainly buys very
nice things and does improve the quality of life and a standard of
living. Yes, money is important, as it helps you to pay your bills, to
educate your children, support your family and so on; but if you rely
upon it as the key to happiness, it can be illusory as it does not
always address life’s real issues, such as, concern for your family,
problems in relationships, and work-related stress.
Money can buy food, shelter, education, and experiences, and it pays for health care and day-to-day comforts.
Of course, if you don’t have enough
money to send your children to school, can’t provide for your elderly
parents, or can’t afford costly surgery that can alleviate the pain from
an old injury, it would be hard to be happy. In that sense, money can
buy happiness by eliminating some worries and bringing quick relief to
financial concerns.
Beyond that, longer-term happiness is
dependent upon your personality and on realising how fortunate you are
to have the things that truly matter in life: a strong relationship with
God, a loving family, good reliable friends, good health for yourself
and your loved ones, a fulfilling and secure job, a thriving business, a
safe environment, moral values, and freedom. Next to these things all
the money in the world pales into insignificance.
Happiness comes from giving
Having money is a great responsibility
because it enables one to do things for others. Material possessions
eventually lose their sparkle then beg to be replaced. Yet, one can make
transformational gifts by helping others and even shaping or saving
lives. It is through generosity that one can attain the best
relationship with money. By deciding to make a difference in someone
else’s life, you can give much more meaning to your own. The joy that
this brings is by far the most lasting form of happiness.
-Nimi Akinkugbe
Share your thoughts...thanks!
No comments:
Post a Comment