Can money buy happiness?

Let's explore the link between joy and riches, plus how to achieve true happiness.

IN a nutshell Hello, and happy Monday! Today, we'll try to answer the age-old question of whether or not money can buy happiness. After that, spend the rest of your time with us today by reading about these other financial and emotional health topics: • Spark joy with the National Parks Annual Pass • Whether or not retail therapy really works • How much it costs to raise a child from birth to age 17 • Are vegetable and seed oils bad for you? Be well, Morgan Mandriota Newsletter Editor, Healthline

Written by Morgan Mandriota June 26, 2023 • 5 min read

what's got us buzzing Can money really buy happiness? It depends Yes, money can buy happiness … for some people, that is. Past research suggests that emotional well-being spikes alongside increased funds for 80% of people, but money isn't a foolproof cure for the remaining 20%. Furthermore, the real spark of money-motivated happiness may actually depend on how you spend it. So, what's the best way to finance joy? According to a newer study, you'll want to invest in experiences (that are aligned with helping you achieve your goals) rather than things. Experts believe this is because the thrill of buying a bigger TV or fancier car will fade much quicker than, say, anticipating and going on vacation (then reliving it through memories for a while after). Older studies confirm this theory. Research from 2013 found that acquiring material possessions is linked to unhappiness, poor relationships, feelings of isolation, and overall diminished well-being. But no matter how much stuff you buy, it can't resolve feelings of misery or deeper rooted issues. How to be happier, with or without money. Whether you make $25,000 or $250,000 per year, there are science-backed tips to boost happiness. For starters, you can exercise, give compliments, practice gratitude, declutter your space, breathe deeply, get into nature, and connect with loved ones. Check out our list of 27 happiness habits to add to your routine for more ideas. Read more: 14 tips to save money while eating healthy 8 ways to improve financial wellness during tough times

great finds Editor faves with health perks       America the Beautiful National Parks and Federal Lands Pass Find joy in two science-backed ways by 1) getting into nature and 2) spending your money on experiences with this 2023 America the Beautiful pass. For $80, you'll score unlimited access to 423 national parks and hundreds of federal recreation areas (2,000 places in total!). Each pass is good for one carload of people, making it an even better deal if you're traveling with friends or family. Explore the USGS site to see the list of agencies that accept it and which public spaces you'll be able to visit. Shop now Every product we recommend has gone through Healthline's vetting process. If you buy through links on this page, we may receive a small commission or other tangible benefit. Healthline has sole editorial control over this newsletter. Potential uses for the products listed here are not health claims made by the manufacturers. Healthline is owned by RVO Health.

Monday Kick Start Retail therapy: Check out now or check in with a therapist? The potential pros. Retail therapy is the act of buying things as a means to relieve stress and frustration. I know we just covered a whole story about how money can't exactly buy happiness, but a 2011 study suggests that shopping does cheer people up when they're feeling down. According to other research, retail therapy can buy you the following perks: regain a sense of lost control increase dopamine (and activate the brain's reward pathway) joy that lasts longer than the initial purchase Responsible retail therapy tips. "It's important to self-monitor to ensure we're not engaging in any activities compulsively," says board certified psychiatric-mental health nurse practitioner Shari Harding. You may also want to stick to a budget and make sure any items can be returned (in case of post-purchase regret). Shopper, beware! If retail therapy causes emotional or financial distress, or shopping is your only coping mechanism, then it may be time to start professional therapy. Before adding to cart, consider trying other (free!) self-soothing activities, like taking a bath or meditating. However, if buying a little gift lifts your mood when you're down and doesn't harm anybody, go on and treat yourself. Read more: Ways retail therapy can help and hurt Understanding financial stress and how to cope The relationship between depression and shopping Healthline's Therapy resource center

Health Hype How much money does it cost to raise a child from birth to age 17? (Find the answer at the end of this email)

health stories you need What we're reading next 🌽 Are vegetable and seed oils bad for you? Learn about the health effects of different oils and which ones you might want to use more often for better well-being. 👀 Potential uses of 3D printers for eye care. 3D printing is already used for implants and prosthetics, but it could also optimize eye health care in the future. 🦠 How common is MRSA? Let's discuss the risk factors, symptoms, complications, and treatment options for this antibiotic-resistant staph bacteria. ❓ OCD screening quiz. Think you might have obsessive-compulsive disorder (OCD)? Take this quick self-assessment to see whether you may want to speak with a therapist to learn more.

Health Hype Answer How much money does it cost to raise a child from birth to age 17? $233,610! Yep, that's right. This number comes from a 2017 analysis from the U.S. Department of Agriculture, which breaks down expenses like diapers, feeding, clothing, cribs and other gear, child care, medical costs, and more. Factors depend on where you live, what your child care needs are, and your insurance coverage, among other factors. With inflation nowadays, that $233,610 translates to $5 billion today. (Just kidding, but parenting is definitely expensive.) Learn more about how much it costs to raise a baby and what you can do to prepare.

Thanks for reading! We'd love to know: Do you think money can buy happiness? Share your thoughts with us at wellnesswire@healthline.com. (Please note that we may use your name and response in an upcoming newsletter!)

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