For the first time, maybe ever, I feel really content and safe in terms of our finances.
While we do have considerable student loan debt, I am paying more than $1,000 a month towards it using my side hustle income. Plus, my income from my salaried job is more than double what it was in the job I had two years ago.
I don’t say this to be showy, because everyone knows things can change in an instant. I just say this to illustrate that I really think that money has brought on this happiness.
Don’t Get Me Wrong
Don’t get me wrong; I don’t think that money can buy you happiness in the form of fancy purses and shoes. However, actually having some in the bank, in an emergency fund, and in a retirement account with enough to cover all my bills makes me very, very happy.
It wasn’t long ago that I stood in the Wal-Mart checkout line unable to buy my groceries because two cards were declined. I know what it felt like to be embarrassed because I couldn’t pay for something and how much stress it caused to swipe a credit card because I didn’t have enough cash in the bank to purchase something I needed. I never, ever want to go back to that point in my life, and it’s those memories that keep me working long past I should to ensure it never happens again.
Just Give It Time
So, if you are someone who is constantly stressed about money and just the thought of it makes you unhappy, all I can say is that it’s amazing what can happen in the span of a year so please don’t give up hope. Almost exactly one year ago, I was only working part time with two freelance clients struggling to pay the minimum on my student loans and get rid of my credit card debt. Then, out of the blue, I got a call from my boss saying someone at my work left the island last minute without notice, and she asked me if I could take over their position. That promotion was a game changer for me in terms of my income, and as I moved into that job at work, my blog started to grow rapidly as well.
Basically I’ve come an incredibly long way in a short amount of time. I’ve worked harder over the last few months than I ever have in my life, but the rewards have been truly great. Paying off my credit card debt was the best feeling, and every time I throw more money at those pesky student loans, I feel great too. Like I said, all this is making me really happy. Sure, I know that my family and my health are more important than dollar bills, but even your relationships and health can be affected when you’re overly stressed about your finances so I say one can directly benefit the other.
What do you think? Does money buy you happiness?
Photo Credit: FreeDigitalPhotos.net
SingleMomIncome says
The lack of money can you make miserable. It’s the freedom that money brings that can make you happy rather than the money itself. I am kind of stressed about money right now but I just keep working at it. I know I’ll be where I need to be sooner than later.
BudgetBlonde says
SingleMomIncome Interesting point! Also, I feel like it’s better to be a little stressed about money and working on it than completely oblivious! Keep at it!
YourDailyFin says
Its the freedom that I am after and the things the money can help me afford like nice trips with the family and having less stress. I don’t think it can ‘buy’ you happiness but it sure does help with being happy.
BudgetBlonde says
YourDailyFin Yes it totally does help!
RFIndependence says
Yes, money buys me choices and freedom away from a day job, that makes me happy therefore money buys happiness.
BudgetBlonde says
RFIndependence I tend to agree!
Holly at ClubThrifty says
I think that money can buy happiness for people who are happy when they’re secure. Material possessions don’t really make me happy…but money and security definitely does!
BudgetBlonde says
Holly at ClubThrifty Really good point and a good reminder that we all derive happiness from different things. Thanks, Holly!
FrugalRules says
I can relate to that feeling Cat as I was there a number of years ago. As you said, it’s not the things which money can buy that’ll really bring happiness, but the freedom and confidence that things are on the right path and seeing headway – that’s quite a feeling!
BudgetBlonde says
FrugalRules I know it’s so nice! Hope it lasts!
Matt @ Mom and Dad Money says
I certainly think that there’s an amount of income for everyone that’s “enough” to make them happy. Over that amount there probably isn’t much true happiness being added, but up to that point any increased income/wealth can certainly add to your ability to enjoy life. I know that having financial security definitely decreases the amount of daily stress in our lives, which certainly allows us to enjoy it more easily.
BudgetBlonde says
Matt @ Mom and Dad Money I totally agree. I get really stressed about money so I think I definitely notice when things are going well.
Samgill says
Being secured financially can definitely make you happy. It is very much true that hard work and dedication pays off and I am happy to see you growing day by day DC. Being able to gain financial freedom is very important and of course you need to balance your personal life too
BudgetBlonde says
Samgill Thanks!! And just so you don’t think that DC had his cards declined at Wal Mart, this is a staff writer story, haha! He’s a little bit more put together than I am when it comes to finances. :D
SenseofCents says
I think being financially independent can bring happiness, but making more money doesn’t always mean that life will be better. If I didn’t have a mortgage, I would be much happier with a lower income :)
BudgetBlonde says
SenseofCents I’m definitely not picky about income as long as I can pay the bills. :)
ayoungpro says
Money can buy freedom, and freedom can cause happiness, so I say yes!
BudgetBlonde says
ayoungpro Haha exactly!
brokeandbeau says
I can definitely see how a lessening of financial stress can contribute to happiness. Just thinking about financial freedom puts a big smile on my face.
BudgetBlonde says
brokeandbeau I know – me too!!
TacklingOurDebt says
Money can buy you a sense of security which for many will make them happier, less stressed out, people. On the flip side too much money can cause people more stress and grief then they ever imagined.
BudgetBlonde says
TacklingOurDebt Exactly. I don’t think being a billionaire is as great as it’s made out to be.
CanadianBudgetB says
I think money can relieve the stress of worry and that brings the happiness. When we spend money it’s just that instant gratification which for some is a happiness as well. Glad to hear you are in a good place now financially.
BudgetBlonde says
CanadianBudgetB Thanks Mr. CBB! For now at least haha
missyhomemakerblog says
Money can buy security, and to me security is happiness :)
BudgetBlonde says
missyhomemakerblog Same for me! :)
CommonCentsWealth says
I completely agree with you here. Money can definitely buy you happiness up to a certain point. After that point is reached I don’t think that there really is much correlation, but you need enough money to feel comfortable in order to be happy.
BudgetBlonde says
CommonCentsWealth True. I haven’t reached that point just yet haha!
Eyesonthedollar says
Money doesn’t buy love or family, but it sure can make you sleep better at night and avoid that panicky feeling at the end of the month.
BudgetBlonde says
Eyesonthedollar So true!!
Monicaonmoney says
That’s a great story, I’m glad to hear that you’re doing well financially speaking now. I know what you mean, there is a sense of happiness and security that comes with having some money in the bank.
BudgetBlonde says
Monicaonmoney Thanks so much!
SavvyWithSaving says
I don’t think money can buy happiness in the sense of having more money to buy “stuff”. But I do think that being financially independent will bring you happiness, so for me at least, yes money can buy happiness.
BudgetBlonde says
SavvyWithSaving That’s exactly the point. Glad you feel the same way! :)
DonebyForty says
There is some really interesting research that backs up your claim, Cat. I have a post in the works on it.
BudgetBlonde says
DonebyForty Ooh I can’t wait to see it!!! :)
JourneytoSaving says
I do agree that having money in the bank makes me more content as I don’t have to stress about how I’m going to pay for things. Living paycheck to paycheck is just not a lifestyle I’m meant for. To have the knowledge that you are prepared for whatever life may throw at you is very comforting! Thank you for also pointing out how you’ve come a long way in a year. I’m still basically entry-level after graduation last year and I am really hoping I can advance somewhere soon, so your story gives me hope!
BudgetBlonde says
JourneytoSaving Definitely! Just work super hard. Your higher ups will notice!
MicrosMissions says
This reminds me of a comedy skit by Daniel Tosh. He talks about how money can buy you a wave runner and no person could possibly frown while riding one. Granted this is along the lines of frivolous consumer purchases. I do agree though that having less stress by having the emergency fund can make life much more enjoyable.
BudgetBlonde says
MicrosMissions Hahaha that’s so funny and true.
Beachbudget says
That’s so awesome to hear. I can hear you gushing through your words! For me it’s less about “happiness” and more of I worry less and feel more confident and like I have more control. I remember this time last year too and I felt so lost and out of control. The biggest change this year has been the addition of side income. It makes me feel like I have more control over my incoming money instead of me having to rely on video editing work coming in and dealing with the producer I don’t like working with. I feel WAY more autonomy in my career and having multiple streams of income has really helped in that area. Hmm, I think you just inspired a post I need to write! :)
BudgetBlonde says
Beachbudget Awww yay!!! You have definitely been rocking the side income lately. Congrats to you!
Tara Zee says
That’s so great to hear about your career turnaround! Isn’t it funny how life kind of works out like that? You’re spot on about being patient. It’s so easy for folks to get impatient and give up with our short-term memories but good jobs still take time! Here’s to your freelance career doing even better!
BudgetBlonde says
Tara Zee That is so sweet. Thanks so much!
DebtFreeDreaming says
I DO think that money can buy you happiness – but like you said, not in the way of frivolous items. I would have to imagine that being debt free, having a nice savings set aside, preparing for retirement and being able to better provide for my family will make me pretty damn happy! On a side note, you have a great story about how you got to where you are, congratulations!
BudgetBlonde says
DebtFreeDreaming Aw thank you!!! And I agree with everything you said as well!
addvodka says
I think that money can make stress diminish, which can make you happy. Less stressed = healthier and happier overall!
BudgetBlonde says
addvodka Totally!!
femmefrugality says
I’m totally with you. It’s hard to be happy or content when you’re constantly stressing about money. There’s a bell curve to the whole $ vs happiness issue. After a certain point, once you’re secure, more money to buy more crap isn’t going to make you more happy. But that security that comes with being financially established will. And until you get there, you do have to just be patient and keep on working to make the situation better!
BudgetBlonde says
femmefrugality Exactly. I’m not quite to that threshold yet lol!
caralynerickson says
I totally agree with you. Money can’t buy happiness, but it does buy an increased feeling of security which does wonders for a person!
BudgetBlonde says
caralynerickson So true!!