Why Money is more essential for Happiness than you think
Only the Rich preach Happiness over Money
Did you ever fall into the age-old argument, Money or happiness?
Maybe!
( No, you do not need to choose one )
What was your motive behind taking up your current job/profession?
Money?
Happiness?
Status?
Sense of fulfillment?
What if I say the hierarchical level of needs dictates your choice?
The Maslow’s hierarchy of needs!
What is Maslow’s Hierarchy of Needs?
Abraham Maslow is an American psychologist. He came up with 5 hierarchical levels of need. The levels of needs are physiological, safety, love/belongingness, self-esteem, and self-actualization. He believed these needs are not only hierarchical. But at the same time, they are sequential. The higher needs could be achieved only when the basic needs are satisfied.
Let’s decode the Hierarchy of Needs in relevance to our lives
The 5 levels of needs are set hierarchically. And, the higher needs could be attained only if the lower or basic needs are fulfilled.
Level 1 — Physiological needs
Physiological needs refer to the basic needs for survival. These include the need for food, clothing, shelter, reproduction, and rest.
Level 2 — Safety needs
Safety needs refer to a sense of safety and security. It transcends safety needs at the physical, emotional, and financial levels.
Yes, this is where the NEED FOR MONEY comes from.
The Physiological and Safety need together form the basic or lower-level needs. These two basic needs are not only essential for survival. It is also essential to climb the ladder to a higher level of fulfillment.
Level 3 — Love/belongingness needs
This level refers to our desire to build valuable relationships. It is the need for a sense of belongingness in the form of a family, intimate relationships, and friendship. It is the need to be a part of a community.
Level 4- Self Esteem
This is the 4th level of needs. Once the lower needs are satisfied, one craves recognition and prestige. It becomes essential to accomplish goals and be recognized for the same.
We could associate it with our professional and personal goals. As a part of any community, we feel the need to be valued. We wish to excel in our fields and be appreciated. We need to be appreciated for our work on a specific project at the office. We need to feel appreciated for our efforts in providing for our family.
Level 5 — Self-Actualization
It is the highest level of need. It refers to achieving the full potential of what a human being can be. People at this level are unabashed by opinions. They are self-aware and mindful of what they want to be.
This could be fulfilling our passion. This level defines our desire to be an artist, a business person, and a person who desires happiness over money.
The higher levels of needs are typically associated with happiness. But, it is impossible to achieve it which the lack of access to lower-level needs.
Why do we need to talk about money?
Have you ever wanted to study at one of the best universities in the world?
Have you ever wanted to buy something so badly?
Have you ever needed to take a vacation?
Have you ever wanted to start a business, or quit a 9–5 job you don’t like?
Is your answer to any of the above questions a yes? What is holding you back?
Money! Duh!
Education to luxuries, enjoying a vacation to taking risks for business, have one thing in common. They all cost us money. And, someone with access to resources is in a better condition to live their life on their terms.
Why there is nothing wrong with working for money
This theory of hierarchical needs very well defines this. Only people who have their basic needs fulfilled can go for the luxury of a higher level of needs. Only when we are financially secure and stable, we would be in a better position to take risks or challenges. It is always riskier for broke people than stable.
Let’s say you have limited resources. And, you can only choose between physiological needs and luxury wants. One would go for physiological needs as a priority.
The fulfillment of physiological needs does not necessarily guarantee a happy life. Satisfaction and dissatisfaction are mutually exclusive. It only satisfies our hygiene needs; in other words, it does not make us dissatisfied. But, it may not necessarily contribute to our motivation or satisfaction either.
Only when we overcome hygiene factors could we focus on the motivators.
Money is not an end in itself
Since money makes us go places, should we treat it as the most important part of life?
No!
Money is a means to a better life and not an end itself. Hence, living a fulfilling life should be our ultimate goal. Not being obsessive with money. It is the ticket to a better life for yourself and the people around you. Hence, treat it like one—a ticket, not the event.
An unhealthy obsession with money can result in a toxic mentality as well. It may make us more competitive and comparative. As a sane human being, you can never meet all your wants, let how hard you try. Human beings, by nature, would always want more.
Human wants are unlimited. When one want is satisfied, another want takes its place.
— Karl Marx
Let me narrate a tiny story,
Once upon a time lived two kings. They decided to ally by getting their children married to each other. The father of the bride presented the other kingdom with lavish gifts. They presented gold, utensils, gems, jewelry, weapons, 100 elephants, and much more.
Upon receiving the gifts, the king said, you have showered us with luxuries in every way possible. But, there is a thing still missing.
To this, the other king responded, surprised, what is it, my lord?
The king replied you forgot to put vermilion on the forehead of the elephants!
This is exactly the case with us. After buying everything you had in our amazon cart, you are still eyeing the other product on your wishlist. After hoarding all the books you needed, you realize your TBR ( To Be Read) list has increased further.
Do not get trapped in this vicious cycle of wants. Instead, build a virtuous cycle. A sustainable and practical cycle of needs and desires. And be grateful for every tiny thing you possess.
A wise person should have money in their head, but not in their heart.
— Jonathan Swift
Money or Happiness
Targets of developing countries and developed countries differ. Developing countries focus more on the lower level needs, food security, housing, sanitation, etc. While developed countries focus on improving their quality of life at higher levels.
This is because the developing countries still lack basic needs. They do not have the luxury of worrying about their quality of life.
Hence, it is not Money or happiness. It is earning your way to happiness. Fulfill your lower needs to be able to fulfill your higher needs.
Money equals freedom, the highest form of happiness. Money equals pleasure. The more you have the more pleasurable life is. People with money can never know what it is like to be without money.
— Clifford Thurlow, Gigolo: Inside the Secret World of the Super Rich
