Did you know that it costs more than a penny to make a penny?
A coin roughly costs 1.7 cents to manufacture.
So, theoretically, if you change your savings to coins and then sell them, you will end
up richer.
There are a lot of things that we still don't know about our money, even though we use them
every single day, but can it buy happiness?
Does making more money is going to make you happier.
Most people are going to say, that's a dumb question, if having more money isn’t making
you happen, just hand them over to me, they will certainly make me happy.
However, that's not quite accurate because it turns out that the answer to this question
is a little bit more complicated than we have thought.
Of course, if you are starving and don't even have a roof over you, every penny is certainly
going to make you happier because they will satisfy your basic needs.
However, what if you make a little more than you need.
A 2010 study has found that any additional income you make above 82K (adjusted to inflation,75K)
dollars a year in the US, isn’t going to impact your day to day happiness.
Money is like water.
When you don't have it at all, that's the only thing your mind.
When you are walking in the desert trying to find your way out, You care about nothing
but water to drink, you would do absolutely anything just to have a glass of water.
But what happens, if you are given a glass of water, you probably would want a second
one, maybe a third one.
However, after the fifth glass, it won't matter.
Even if you get thirsty again, when you have gallons of water right beside you, you probably
won't drink it immediately because you know that you have it anyways.
And that's the case with money.
Even though we want to believe that happiness is directly related to our materialistic well
being, it's mostly psychological.
If you are broke and you hardly make ends meet and then suddenly you win a thousand
dollars, you will feel like you are the happiest person in the world.
However, what if you make 200K dollars a year and you win a thousand bucks.
Sure you will feel good about it but it's not going to make you super happy.
Even though it's the same thousand dollars, it has a different impact on people based
on their perspective of life.
Lottery winners usually become the most unhappy people a year later.
Because right after receiving that fat paycheck, they rush to experience life greatest pleasures.
And once they run out of cash, they struggle to enjoy everyday pleasures and get into huge
debts to continue that lifestyle.
Nonetheless, our happiness highly depends on how we do compare to the people around
us.
If you make 50 thousand dollars while your friends make 60K dollars year, you will most
likely feel unhappy, whereas if they all make 40k and you are the only one who makes 50K
dollars, you will feel much happier.
That's why with the rise of social media, it's really difficult to feel happy.
Every time you scroll through your Instagram, it seems like everyone is traveling and living
a life full of joy and happiness while you are the only who barely makes ends meet when
in reality most people are living a life that's not much different from yours.