Improvement pill here today I want to discuss a very touchy subject it's
something that many people don't like to talk about and it's the relationship
between money and happiness can money actually buy happiness but before we get
started I do want to thank my sponsor this week Squarespace for making this
video possible they helped me remake my website which
you guys can check out at improvement pill net so can money actually buy
happiness well a study conducted in 2010 at Princeton University looked at a
large group of people how much money they made and also their levels of
happiness on a day to day basis the researchers came to the conclusion that
yes making more money will make you happier but only until you reach an
income of about seventy five thousand dollars a year they found that people
with low incomes tend to have problems that people with higher incomes do not
things like the pressure to pay your bills putting a roof over your head and
covering medical emergencies can cause high levels of stress which affects your
overall happiness so having more money was equivalent to having less problems
and because you have less problems you were happier this particular study was
referred to a lot in TED Talks by social media influencers and even motivational
speakers and I feel like a lot of people now believe that well you only need to
make about seventy five thousand dollars to be happy right there's no point in
making any more money because it's not gonna improve your life but just how
true is this statement well a study conducted this year by Professor
Whillans at the Harvard Business School found that the way you spend your money
can actually have a huge effect on your levels of happiness they found that
people who spent more money on services like a personal maid a laundry service
or even a grocery delivery service reported being significantly happier
than their counterparts who made the same amount of money see it turns out
that by having less responsibilities and chores you can spend more time on the
things you actually enjoy like your family your friends or your hobby and
it's this freedom that drastically increases your levels of happiness so
it's not really right to say that making more than $75,000 will not make you
happier because if you think about it it's pretty expensive to hire made or
have your groceries delivered to you if you only make seventy five thousand
dollars a year but what this study really teaches us is that it's not how
much you make it's how you use it let's say for example you're
someone who makes $100,000 or even 150 thousand dollars a year and you can
afford to hire people to do your chores this doesn't necessarily mean that
you're gonna be happy because jobs that pay this much tend to require very very
long hours and if that's the case there's a high chance that you'll
actually be less happy than someone who makes a bit less than you but has a lot
more free time on their hands and this is a common trap that I noticed a lot of
people fall into there's so many of us that are told to go to school get that
degree to finally secure that high paying job so many of us are under the
assumption that if we make a certain amount of money if we can get our yearly
income to seventy five thousand a hundred thousand two hundred thousand
we'll be happy but we fail to recognize that the amount of freedom we have is
just as important without any time to do the things you want to do life is just
not that great so instead we should be focusing on ways to make a decent sum of
money without having to sacrifice too much of our free time and this is a
concept that really drove me down the path that I'm on today see when I was
younger I worked very very hard to climb the ladder I was convinced that once I
reached the top and made more money I would be happier but when I finally
climbed to the top and started my own sales company I realized that it wasn't
that great I was making a generous living but spent close to a hundred
hours a week trapped in the office I'll get back home exhausted eat pass out
just to wake up early to start my hour-and-a-half commute back to the
office again I had never felt so enslaved before in my life I literally
had no freedom to do anything that I liked it got to the point where I said
you know what I've had enough there has to be another way where I can make a
living without having to sell my soul and that's what eventually led me to the
world of digital marketing which is a topic that I covered deeply in another
video of mine if you're interested in that you can check it out in the link in
the description below but there's also different ways of obtaining more freedom
I've had many friends who were able to negotiate remote work where they were
allowed to complete their work on their own time from wherever they wanted and
this gave them dozens of hours per week to do whatever they liked another option
is to carefully choose a career that actually interests you something that
you are at least somewhat passionate about and by doing
this you won't feel like you're wasting your time working in your field of
choice so remember guys there's a sweet spot that you want to be at to get the
most out of your money you want to be making enough so that you're not
stressed about the bills but at the same time you want to make sure you have
enough freedom to enjoy the things in life that make you happy
so can money buy happiness yes it can but you have to be smart about it again
I would like to thank our sponsors Squarespace for making this video
possible I've been thinking about rebuilding my website for quite a while
now and Squarespace made the entire process extremely easy they have a bunch
of high-quality templates that you can choose from and the editing process is
simple and straightforward you can drag and drop your pages to rearrange them
you can click on any feature on a page and adjust how it looks it's great for
those of you that are somewhat intimidated by the idea of building your
own website head on over to Squarespace calm forward-slash improvement pill for
10% off their yearly plan