Money is power; money is the key to happiness. This seems to be the phrase most individuals live by in today’s society. Unfortunately too many individuals believe money is the path to happiness. Although money is considered an important factor in the success of individuals, money is not worth sacrificing quality of life. In today’s society, it would seem too many individuals are obsessed with money, and they have forgotten how to enjoy life. The fact is money and wealth are not comparable to the importance of being happy and the quality of life.
The concern is how much value individuals put on money. Is it worth a decreased quality of life if it means that one must put in an extremely large number of hours at work every week to make the money they feel will increase their quality of life. How much time should be devoted to earning enough to live a secure and happy life? The answer will be different for most people. Some individuals may prefer to work less and have extra time to spend with their friends and family members, but these individuals will probably not be able to afford the same material items of individuals who decide to work more hours.
F. Scott Fitzgerald’s book titled, The Great Gatsby, asserts the point that although individuals can possess an extremely large amount of money, they are unhappy. Daisy Buchannan was a major character in the book, and she was privileged beyond belief with money. However, her relationship with her husband was tainted. In chapter one of the book, Daisy confides to her cousin, “You see, I think everything is terrible now. I’ve been everywhere and seen everything and done everything.” Daisy had all the money she could hope for and she was an unhappy character throughout the novel. She was a character that Fitzgerald portrayed as wealthy, but also a character with a poor quality of life.
However, money is required to have a good quality of life in today’s contemporary world. Individuals need food, shelter, and clothing to survive and there are many extra material items that are important for improving quality of life, such as medical and dental insurance, reliable transportation, and more. According to the article published in Psychological Topics titled “Well-Being on Planet Earth” by Ed Diener explained, “A perennial question is the degree to which money affects happiness. Many have mentioned that money is not important to happiness, at least above the poverty level.” In the article, Diener examined a study that was conducted, which measured materialistic versus emotional happiness. Diener explained, “The Ladder and Domain Satisfaction scores seem to heavily reflect material well-being, whereas there was much less use of the emotion measures.” Money alone does improve an individual’s quality of life but it does not seem to contribute to happiness, so it is difficult to determine which is more important since one needs both to maintain a happy, healthy life. There has to be a balance. However, it is up to that individual to maintain a balance between the standard of living and the quality of life.
In order to achieve a happy life, one must have a balance between money and quality of life. If there is no balance, then one will greatly outweigh the other, which could result in negative consequences. These negative consequences can include missing time and holidays that should be spent with family members and loved ones, distant relationships with children because of time lost while earning money, and other problems due to the stress that accompanies individuals who are overworked.
There are also other negative consequences for individuals who hold money to a higher regard than other aspects of life. Individuals who devote too much time to their career, for financial purposes, could suffer from an array of health problems. Stroke, heart attack, and high blood pressure are only a few of the health problems individuals can encounter if they are too concerned with money. This is ultimately a poor quality of life. If an individual does not have time to enjoy life because they are working too much, then what is the purpose of having the extra financial security? These individuals most likely have health problems, stress, and poor relationships, which are quality of life issues that most people wish to avoid.
It is important to understand the definition of the quality of life and money, or standard of living. In the article, “Standard Of Living Vs Quality Of Life,” by Amy Fontinelle, “Standard of living and quality of life are often referred to in discussion about the economic and, social well-being of countries and their residents.” Ms. Fontinelle goes on to define the difference between the two, and she also explained how they are connected. Ms. Fontinelle defined quality of living as the level of wealth, comfort, material goods and necessities explained, “Factors that may be used to measure quality of life include the following: freedom from slavery and torture, equal protection of the law” and much more.
The two are connected, but according to Ms. Fontinelle’s definition of the standard of living and quality of life, it would seem money is not a huge factor in the quality of life in the Western part of the world. However, quality of life is also defined by the Collins English Dictionary as, “The standard of health, comfort, and happiness experienced by an individual or group.” This definition of the quality of life would be connected to money, perhaps because it is a more vague definition. However, the comfort and happiness of an individual is unique. Every individual will have a different opinion or perspective on what comfort and happiness is to them, which is what most people define as the quality of life.
In today’s busy world, there are many individuals who have fallen victim to the impact that money can have on our society. These individuals sometimes devote more time at work then they do at home with their family. It is true that these individuals can provide more for their families, but they are only providing their families with material items. These items are not as valuable as the individuals who provide for their families, but some prefer this way of life. However, there are some of these individuals who decide that money is not everything. They will make a career adjustment and pay-cut in order to spend time with their families. The website Sovereign quoted Professor Grand Schofield, of AUT University’s Human Potential Center, as he explained
Most people would say money doesn’t buy happiness, and they’d be right, to an extent. Research in other countries has shown that as long as you’re not in poverty and can pay all your bills, any extra money doesn’t make that much difference to your wellbeing.
The website also went on to describe that there are five key factors to one’s quality of life or well-being. According to the website, the five key factors to an individual’s well-being are; social connection, taking notice, learning, exercising, and giving.
If individuals hold their quality of life to the upmost importance, then their chances of leading a happy life will increase greatly. It is rewarding to one’s soul when they spend hold their quality of life to the upmost importance will not be as concerned with money.
Money is often associated with stress. Many individuals in today’s world face financial problems such as debt or even knowing how to make ends meet. It can be scary for individuals if they are not certain how they are going to pay the bills, and they become determined to do everything in their power to ensure the bills get paid even if it means a decreased quality of life. People who are driven by money often work too hard and devote too much time to their career, which will ultimately lead to stress. In fact, the article “How Money Stress Hurts Your Health, Plus 6 Ways to Beat It” stated, “The 2011 APA Stress In America Report found that out of the eight top sources of stress in America, five were financial: money, work, the economy, job stability and housing costs.” Individuals who are concerned with money more than the quality of life will probably encounter more health problems and encounter more stressful situations than individuals who are not as concerned with money.
Obsession over money can cause problems, but the fact is money is needed to have a stable quality of life. An article on huffpost.com titled, “Money Improves Quality of Life, Up To A Certain Point,” reported that “A study by Princeton University in 2012 found that higher pay translated to increased happiness, up to $75,000. After that benchmark, money had no effect on happiness, according to the study.” Individuals who have enough to live within their means can enjoy a good quality of life. These individuals are organized, prepared, and know how to stay within their budget and spending. However, the article also points out that an income above $75,000 will not have any additional benefits from those who earn less. It would seem if an individual can determine and maintain a balance between the amount of money they earn and the quality of life they prefer, then there will be a balance that will allow the individual to lead a happy and healthy life. The article reported individual who make less are not happy, the article reported:
That individuals who make under $50,000 per year report to have a lower quality of life. A study found that American households that bring in less than $50,000 per year were more likely to say that they are not very happy and are concerned about becoming a financial burden to family members.
This asserts that the two are connected, and that it is difficult to determine which of the two is more important as they are both connected. It is common for individuals to want more than what they can afford, although these individuals may not need these material items. These people may have enough food to eat, a home, and a good family life, but they want extra items that will constitute their happiness. According to these individuals who make under $50,000, mentioned in the article, “Money Improves Quality of Life, Up to a Certain Point,” their quality of life is lacking. However, in other parts of the world individuals who are starving would happily exchange positions with individuals who have all they need but want more. It is still a valid argument that in America, England, and other first world countries, having extra perks such as an Xbox One, iPhone, or Smart TV can improve an individual’s quality of life through entertainment. However, what good is having extra material items if an individual is not able to enjoy these items.
There are some individuals who choose to take a pay-cut to have a better quality of life. This means these individuals must learn to re-adjust how they live in order to have everything they need. It would appear with more money comes more responsibility, stress, and work, which can have a negative impact on an individual’s life. Individuals who decide to take a pay decrease will have to make sacrifices by not being able to purchase the same items as they did in the past, but it is a choice they feel will make them happier and have a better quality of life.
In the modern era, money is critical in order to survive. The more money an individual has the more they can afford, but this does not mean their quality of life will improve. Most individuals who work long hours encounter a great deal of stress, which can have a negative impact on their health and the health of their children. In the Community Development Investment Review the article, “Financial Stress and its Physical Effects on Individuals and Communities” stated, “The stress cause by overwhelming debt is also having a devastating impact on the well-being of America’s children. In addition, the longer-term implications of chronic financial stress are even more alarming.” This validates that family members of individuals who are overworked are subject to health problems, which will increase as the stress continues. These individuals have an increased amount of funds, but a decreased quality of life. This would seem to be an increasing trend in today’s society. However, with the recent economic times it is valid that individuals are concerned with having enough resources and funds if any emergency occurred, so they decide to work more hours for the additional security. This is an understandable action, but it is not worth sacrificing the quality of life.
There is a valid argument for those individuals who work too much and have a poor quality of life due to being over worked, which is these individuals are concerned with protecting their family and loved ones. This is a concern of most adults who have children. They often concern themselves with worst, so that they can be prepared if the worst ever comes to pass. This is an understandable cause, but it is not worth sacrificing an individual’s health, relationships with loved ones, or overall quality of life.
There is also an argument that decreased income means less of an ecological footprint, which is good for the environment. When individuals get laid off or encounter a situation where income is scarce, then they will often make efforts and strides to conserve any way they are able. This could mean planting a garden, taking a bike or walking to a destination, or hanging the laundry out to dry instead of using the dryer. This conservation helps individuals save money, but it also helps the environment. If an individual knows they are helping the environment, then the sense of reward can improve one’s quality of life. The article in Yes Magazine, “Work Less, Live More” by Juliet Schor stated:
A study by David Rosnick and Mark Weisbrot of the Center for Economic and Policy Research Estimated that if the United States were to ship to shift to the working patterns of Western European countries, where workers spend on average 255 hours per year at their Jobs, energy consumption would decline by 20 percent. New Research from Washington State University finds that nations with shorter working hours have considerably smaller carbon and ecological footprints.
If individuals conserve on money and change the way they live, then they will have a better quality of life, and they will also help the environment flourish. Planting a garden can not only reduce an individual’s grocery bill, but it can also help reduce an individual’s ecological footprint. Although this may not seem like a way to improve one’s quality of life, preserving the environment for future generations is rewarding in that conserving the environment ultimately improves every person’s quality of life.
Ultimately, it is up to the individual which is more important: money or quality of life. However, in most places on the planet, one must have the other in order to exist. Individuals need money to buy food to eat; people are starving all over the world because they do not possess the funds to feed themselves or their families. In order to have adequate shelter, one must have enough funds. There are thousands of homeless individuals in the world who do not have money to have a home of their own. On the flip side, there are individuals who have millions of dollars, but a poor quality of life. What is the point of earning enough money to purchase a yacht or vacation home if it is not able to be enjoyed? People can possess all the money in the world, but that will not remedy certain health problems, mend weak relationships with loved ones, or attain happiness. The issue is a double-edged sword, which is why it is crucial to have a balance between money and quality of life. If individuals have a balance that makes them happy, then they have achieved something most individuals will not be able to achieve, which is finding the perfect balance between the standard of living and the quality of life. It is universal that individuals want to achieve a sense of happiness and have a good quality of life, but money is part of having a good quality of life. Unfortunately there are those who are caught up in the notion money is the only way to achieve a good quality of life, and sadly these individuals are the ones who have the poorest quality of life. If individuals find the perfect balance, then they will find happiness.
Works Cited
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Diener, Ed. “Well-Being on Planet Earth.” Psychological Topics 18. University
Of Illinois and the Gallup Organization. 2009. Web. 02 Dec. 2014
Fitzgerald, F. Scott. The Great Gatsby. New York: Scribner, 2004. Print
Fontinelle, Amy. “Standard of Living vs. Quality of Life.” Investopedia. Web.
03 Dec. 2014.
“How Money Stress Hurts Your Health, Plus 6 Ways to Beat It.” LearnVest.
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“New Study Reveals Link Between Money and Quality of Life.” Sovereign.
N.p., n.d. Web. 01 Dec. 2014
“Money Buys Happiness, Up To A Certain Point.” The Huffington Post. N.p., n.d.
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“Work Less, Live More,” Yes! Magazine. N.p., n.d. Web. 05 Dec. 2014
