Money and happiness, enhances your well-being. But are they related to each other? Is there any link between the two? So, what comes to you when you think about the luxurious vacations, big homes, expensive cars and lots more.
A groundbreaking study from Harvard University recommends that the true value of money is in its ability to decrease stress and offer full control over challenges in life. The study tells that financial stability plays a critical role in enhancing emotional well-being by improving the day-to-day frustrations that can drain our mental health.
Financial Stability Eases Daily Stress
As per the research, having additional financial resources lets individuals to direct life’s hassles, ranging from small annoyances like a rainy day to much substantial stressors events like unexpected medical bills, without becoming dazed. We frequently focus on the ability of wealth to bring happiness, but its real influence lies in the peace of mind it proposes.
Financial security, therefore, delivers the freedom to handle problems before they intensify, thus making a buffer against the unpredictability of life.
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Higher Incomes Lead to Greater Life Satisfaction
The study further reveals that incomes are directly proportional to life satisfaction. Higher is the income, more satisfied are the individuals. Research participants with better financial resources stated feeling more in control of their lives and livelihood, thus, less burdened by ordinary problems.
However, the amount of frustration they face is similar to as of lower-income individuals. But, the intensity of those frustrations was much comparatively lower to that of more vulnerable. Money doesn’t eradicate problems but makes them easier to handle by presenting each and fast solutions, like paying at convenience stores.
Alleviating Stress in Struggling Communities
The research also highlights the effect of financial strain on mental health. For individuals who are living paycheck to paycheck, continuous financial anxiety can create a “disgrace spiral,” where feelings of failure avoid them from looking for solutions. This cycle magnifies stress, deteriorate mental health and affect relationships and work altogether.
The findings also support for systemic changes to better care for individuals who are financially struggling, urging a change in social views about poverty.
Money as a Stress-Relief Tool
Although, money is not the only thing that guarantee happiness, but it undeniably plays a very crucial role in reducing stress in your life and livelihood. As per the research, financial safety and security offers individuals with better control, emotional steadiness, and a good quality of life. As society stays with economic inequality, financial stability is not just a luxury, it is the foundation for mental and emotional well-being of every individual.
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
He is committed to entrenched data, facts, research, solutions, and a dedication to value-based journalism. He has covered trade tariff wars, international alliances, corporate policies, government initiatives, regulatory developments, along with micro- and macroeconomic shifts impacting global fiscal dynamics.
