Good Health Blog

Does Money make you feel better?

- April 15, 2012

Research can answer some very interesting questions. Many international studies have shown that it is the quality of our personal relationships, not the size of our bank balance, which has the greatest effect on our state of wellbeing.

Believing that money is the key to happiness can also harm a person’s wellbeing. For example, a person who chooses to work a lot of overtime misses out on time with family, friends and leisure pursuits.

The added stress of long working hours may also reduce a person’s life satisfaction. Research shows that people who pursue ‘extrinsic’ goals like money and fame are more anxious, depressed and dissatisfied than people who value ‘intrinsic’ goals like close relationships with loved ones.

Wellbeing can be elusive

Wellbeing is important, but seems a little hard to come by. One American study into mental health found that, while one in four respondents was depressed, only one in five was happy – the rest fell somewhere between, neither happy nor depressed. A recent Australian consumer study into wellbeing showed that:

* 58 per cent wish they could spend more time on improving their health and wellbeing.
* 79 per cent of parents with children aged less than 18 years of age wish they could spend more time on improving their health and wellbeing.

* 83 per cent are prepared to pay more money for products or services that enhance their feelings of wellbeing.

I guess the above statistics show an interesting trend and explain the success of the ‘health supplement’ industry which often promises that you will feel better/less stressed/more energy if you buy their vitamin/mineral/supplement despite many medical authorities demonstrating that nutritional deficiency is quite rare in many countries.

Money does not make you feel better. Only you have the ability to make the steps to improve your feeling of wellbeing. It is not rocket science. A great start is to exercise regularly, eat and drink healthily. Spend time with family and friends.