Session 9: Money and happiness
Course conclusion
So far in the course, you have learned what money is and how you may think about spending and investing it. But an important question is this – does money make people happy?
Several studies have tried to answer this question. However, the results of this research are somewhat inconclusive.
For example, some studies suggest that an increase in the amount of money that people have does seem to increase their self-reported level of happiness. Other studies find no association between money and happiness. Also, a change in happiness due to money is usually not long-lasting.
It could be argued that serious money-related difficulties can create worries and stress, and, therefore, reduce happiness. Also, people may compare their wealth with that of their peers and friends. This comparison may also affect happiness.
Overall, the link between money and happiness is very complex. The short video below may help you to reflect on the relationship between money and happiness.
Something to talk about - money and happiness
Watch this video in which two people try to answer the following question: Can money buy you happiness?
Use the box below to answer the following questions (or write them down in your notepad):
Why is money important?
Is money essential to be happy?
How can you use money to make others happy?
If you enrolled on the course, a digital badge and course certificate will now be awarded if you have completed all nine sessions of the course.
Want to know more?
This has been a short course on financial education.
If you would like to know more about the subject, you may wish to visit other free (at the time of writing) online resources.
