how money changes you you've probably heard of the expression money is the root of all evils and
while it does sound like it's too idealistic or even arguably flawed some people ardently believe
it as such on the other hand others submit to another commonly heard phrase that is the world
revolves around money turning it into a faith that drives them into seeking more and more and thus
growing in greed despite all these varied opinions one fact remains irrefutable and it is that money
is inseparable to anyone who is a human being money is necessary for almost everything we do
for virtually all our lifetime if money is bad then it is a necessary evil it is the legal tender
that we cannot do without as such many people have experienced different circumstances when it comes
to money some were born poor and they toiled hard till just to get by while others were born with a
silver spoon one of the most recognized scholars of the university of utah professor kristen smith
crow opined some factors affect us way more than we're aware of even if we have good intentions
we all have different feelings and opinions when it comes to money possessing money or not
possessing it may end up affecting who we are by endowing us with traits such as greed or frugality
and this brings us to our topic does money change us and if so how well in today's video we're going
to be sharing with you a couple of ways money does change you one does money cloud moral judgment
over time psychologists have researched how money changes people they have attempted on
many occasions to study the impact the influence of inequality and wealth on human behavior
there are many things to note about the psychology of wealth and having more money and it has been
concluded that money can influence our thought process in more ways than we can imagine
no matter a person's economic status in fact it's not wrong to note that wealth leading to a
very high sense of moral entitlement in a study carried out by uc berkeley in select locations
in san francisco with crosswalks that requires drivers to stop for the pedestrians to walk across
it was concluded that the drivers of luxurious vehicles would more often tend to disobey this
simple rule of community orderliness compared to drivers of less expensive cars the expensive car
drivers were less likely to stop and allow the pedestrians passage and were also more
likely to cut off other drivers claiming the right of access another research carried out
also showed that people were more likely to behave irrationally after being exposed to money-related
words pointing to the fact the mere thought of money is more likely to lead to immoral behavior
lending credence to the cloud of moral judgment so yes money can sometimes cloud our judgment two
is it a case of more money less empathy studies have always been carried out to help unearth the
real reasons behind human behavior some of these studies have shown that wealth and having lots
of money may be antagonistic to having compassion and empathy so let us turn to psychology to help
explain this point in the journal of psychological science it was revealed that people of lower
economic status the middle class and all who do not have as much money as the wealthy are better
at reading the facial expressions of other people which is an essential indication of having empathy
this should not come as a surprise as it is only to be expected for the immediate environments of
the lower class to be different from that of the higher class when you belong lower or middle class
you are required to respond to a lot of social threats and vulnerabilities perception thus
really matters when it comes to this as one relies heavily most of the time on communication with
others to determine whether there is an imminent threat or possible opportunities as mentioned
earlier having lots of money influences your behavior however not being rich allows for higher
emotional intelligence research has even concluded on the fact that the use of fake money can elicit
bad behavior in people as they would start to behave with lesser regard for others in a captured
scenario where two students were playing the money game monopoly it was observed that the player
with more money although acted shy expressing discomfort at first he later grew into the game
and he taunted the other player while moving his pieces around you can imagine what would happen
when having more money in the real world when just a virtual game can elicit this reaction
three wealth and substance abuse while in the real sense of it money is not known to cause addiction
it has been linked with an increased tendency to dabble into addictive substances studies
have shown that the children of the wealthy and powerful are more likely to abuse substances
this is mostly linked to the high pressure from their homes to attain the already high standards
set by their parents as well as isolation from their busy parents these children also have issues
with adjusting to societal norms studies have also concluded on the fact that students from
well-to-do families tend to get higher scores from their tests than the lower class students
it's also said that children from wealthy homes are more likely to internalize their struggles
concerning substance abuse even in adulthood the rich are always known to drink more and more
expensively than the poor 4. more money cannot buy happiness this statement may sound cliche but it's
the truth you may not want to hear it's common for people to seek power money and success and all
that comes with it this is expected but come to think of it this may be getting in the way of the
things that matter the most in life such as health love and happiness upon gathering opinions from a
lot of people the uniting view is that there's no direct relationship between the income of
individuals and happiness however according to a 2010 study based on a gallup poll of more than 450
000 respondents suggested that making an income of 75 000 a year may make you more satisfied with
your life once you can afford health care a good place to live nutritious foods clothing and so on
more money may not increase your happiness aside from the fact that increased income makes no
difference it is common knowledge that extremely wealthy people do suffer from increased rates of
depression in their life some findings have even further stated that money does not lead
to dissatisfaction but the constant search for it is what creates unrealistic needs and expectations
leading to dissatisfaction also chasing after worldly success on an above average level is said
to lead to a lower relationship satisfaction to an extent many americans are increasingly
looking beyond money and success to define the level of happiness one is attained in life
5. money can be addictive this may look like i'm overstating the facts or saying something
that cannot be any further from the truth i mean how on earth can money be addictive but take it
or leave it this is a real thing according to psychologist dr tian dayton the pursuit
of wealth in all its entirety without having time for the things that matter can become
addictive you might think this is the same line as substance abuse or addiction however it's classed
as a behavioral addiction the compulsive need to acquire money and the power that comes with it
is considered as a part of a class of behaviors the good feeling you get when you make money can
become addictive in the long run this compulsive habit is also linked to the behavioral condition
known as shopaholism which is the constant love for shopping for the latest goods
it is said that in contemporary times process addictions are increasingly becoming accepted
as they involve relationships with behaviors such as eating sex gambling and money it's known that
compulsive behaviors such as eating and spending money can result in the release of dopamine which
is commonly known as the feel-good chemicals so therefore making and spending money can
release dopamine which can become addictive 6. service and self-sufficiency money has
been known to have specific influence on the self-sufficient nature and the services provided
it is said that those who are conscious about making money tend to be more self-sufficient than
others who are of the line of thought that money is not a priority according to a psychological
study carried out in the yale school of management studies it was observed that in a situation where
two different groups with different outlooks on money are given challenging and impossible tasks
the money-related group was bent on solving these tasks more than the other group with the passive
outlook on making money even in instances where it was not possible to finish the task alone they
seem to be more intentional about getting the job done the study concluded on the fact that money
conscious individuals are more capable than their peers most notably when money is made as the focus
furthermore the research also observed how the conscious money group was less likely to offer
help or assist in a task that was not theirs to begin with the group that was not concerned
about money displayed compassion and service in a money-free environment 7 business and social value
research carried out in the past have investigated on how money influences the way you value time
and effort this was proven in a 2004 study where researchers such as dan ariely and james heyman
created an experiment where they attempted to measure how motivated a person can be
when the task to be completed was a sign based on money in this project the subjects were asked to
drag circles randomly across the computer screen the first group was simply asked to do this as a
favor while the second group was asked to do it with an assurance that 50 cents would be paid
while the last group asked the same but this time with five dollars is the catch
this simple exercise leads to the conclusion that there are two reasons for completing a task
one was the social reason where on recognizing a task's social worth people find it worthy of
time and a crucial part of the social duty to be done however when money is offered the social
concept is thrown out the window and it is now thought of more as a business venture money is an
excellent motivator when it comes to determining the extent of the value to be attached to things
completing a task for free is said to have a positive effect on a person's thinking but this
is not considered when money is introduced this can have an impact on your actual living as if you
feel you deserve more money you may perform way below expectations as a result money has changed
you at this point as with normal human thinking the rags to riches story is the dream of everyone
either it happens through a very high paying job or you win a lottery many studies have proven that
money affects people psychologically it might change your behavior and it might not even be
for the better money has a way of influencing your thoughts and actions it does not precisely
shape your beliefs but it will undoubtedly affect the way you act and think towards others
in this way improving your understanding of how money unconsciously influences your behavior
will hopefully lead you to making better decisions and steering away from the negatives of it
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