{"id":1214032,"date":"2023-12-21T15:00:00","date_gmt":"2023-12-21T20:00:00","guid":{"rendered":"https:\/\/www.prime-wow.com\/?p=1214032"},"modified":"2023-12-21T15:00:00","modified_gmt":"2023-12-21T20:00:00","slug":"how-the-wealth-happiness-nexus-could-change-the-way-you-think-about-money","status":"publish","type":"post","link":"https:\/\/www.prime-wow.com\/?p=1214032","title":{"rendered":"How the \u2018Wealth-Happiness Nexus\u2019 Could Change the Way You Think About Money"},"content":{"rendered":"

You\u2019ve heard that money doesn\u2019t buy happiness<\/a>, but you probably haven\u2019t heard of the wealth-happiness nexus. While money alone doesn\u2019t buy happiness, it definitely makes you feel more secure\u2014and can empower you to buy things that facilitate<\/em> happiness, too. The idea of the wealth-happiness nexus takes things a step further, exploring not only how wealth can or cannot make us happy, but how happiness can positively impact our bottom line.<\/p>\n

What is the wealth-happiness nexus?<\/h2>\n

Lots of research has shown that there\u2019s a link<\/u><\/a> between overall satisfaction and economic growth. While you don\u2019t need a bunch of scientists to tell you that you feel happier when you have a robust checking account, it\u2019s worth considering these conclusions: The relationship, it turns out, is bi-directional, meaning happiness not only comes from economic growth, but can \u201cbe an engine\u201d for it, too. Happiness can help you make more money. Again, even on a common-sense level, this makes sense. When you feel happy and like your needs are met, you are less stressed and can get more done.\u00a0<\/p>\n

What else plays into this nexus?<\/h2>\n

Having money doesn\u2019t automatically make you happy, of course. Like any emotion, happiness is subjective and depends on all kinds of personal factors within you. Just like there\u2019s research on the link between happiness and money overall, there\u2019s also been research on the little elements at play<\/u><\/a>.<\/p>\n

In this research, it wasn\u2019t income that seemed to impact a person\u2019s wellbeing so much as the following two concepts: subjective socioeconomic status and something called “Comsim.” Subjective socioeconomic status is an individual\u2019s perception of their own social and economic standing, which isn\u2019t determined by income, education, or job, but rather that person\u2019s own feelings and beliefs about how they compare to others around them. Comsim is the practice of comparing your current socioeconomic situation with individuals from similar backgrounds, based on the idea that it\u2019s easier to draw comparisons with someone who had the same upbringing you did than it is with your immediate peers. Both of these factors seem to be significant predictors of subjective wellbeing, and if you focus on them too much, you can reduce your own happiness, no matter how much money you actually have.<\/p>\n

The objective, then, is to focus more on personal goals, progress, and accomplishments. Avoid comparing yourself to others and instead consider your financial position in a purely personal way. Consider whether you have enough for the budget you\u2019re<\/em> setting for the new year, not whether you have enough to compete with your childhood best friend. Celebrate any financial gains you make and don\u2019t think about the ones you see other people make.\u00a0<\/p>\n

To start, assess your finances using a checklist<\/u><\/a> before the year is over, then set a resolution<\/u><\/a> to make more if you want, but also to celebrate your successes and spend money on things you enjoy. Your goal isn\u2019t actually to be rich and happy, but self-satisfied and above the urge to compete with everyone else. There\u2019s the real wealth-happiness nexus.<\/p>\n


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\nSource: LifeHacker – How the \u2018Wealth-Happiness Nexus\u2019 Could Change the Way You Think About Money<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

You\u2019ve heard that money doesn\u2019t buy happiness, but you probably haven\u2019t heard of the wealth-happiness nexus. While money alone doesn\u2019t buy happiness, it definitely makes you feel more secure\u2014and can empower you to buy things that facilitate happiness, too. The … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[91,110],"tags":[92],"class_list":["post-1214032","post","type-post","status-publish","format-standard","hentry","category-lifehacker","category-unfiltered-rss","tag-lifehacker"],"_links":{"self":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1214032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1214032"}],"version-history":[{"count":0,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1214032\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1214032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1214032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1214032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}