Episode 1210: Can Money Buy Happiness?

[00:00:00] Scott Maderer: Thanks for joining me on episode 1,210 of the inspired stewardship podcast.

[00:00:06] Sebastian Schug: I do challenge you to invest in yourself. I challenge you to invest in others in the future, even though that it is uncertain and the paths may sometimes be Rocky, but in doing so, I'm hoping that it can develop an influence.

[00:00:22] I'm hoping that it can impact the world utilizing your time your talent. And treasures to live out your calling, whatever they may be. It may not even be in the same creative avenue that I have explained, but I'm hoping that it can be general enough to help you come to that conclusion.

[00:00:41] Having the ability to adapt with faith as your journey progresses is of course, key understanding that root of why you choose to do it in the first. And in plugging this show, one way to be inspired is to listen to inspired stewardship.

[00:00:58] Scott Maderer: that's [00:01:00] why that expression money can't buy happiness has some truth to it. What we often, instead of trying to create experiences and relationships, we often focus on buying things, buying stuff. They're the newest iPhone, the newest watch, the newest toy, the best computer, the coolest car. Welcome and thank you for joining us on the inspired stewardship podcast.

[00:01:25] If you truly desire to become the person who God wants you to be, then you must learn to use your time, your talent and your treasures for your true calling in the inspired stewardship podcast, you will learn to invest in yourself, invest in others and develop your influence so that. Can impact the world

[00:01:46] in today's episode about developing your influence through stewarding your treasures. I talk with you about buying happiness with money. I talk about why money can buy happiness in some ways, and why money can buy [00:02:00] happiness in others. As we talk about stewarding your treasures. Wouldn't it be great. If you could support this podcast and do it without costing yourself, an extra dime turns out you can't.

[00:02:12] All you have to do is use inspired stewardship.com/amazon. When you're ready to make a purchase via Amazon and a small commission will come back to support the show. If you enjoy the show, when you're ready to buy from Amazon, just use inspired stewardship.com/. I think we've all heard the expression, that money can't buy happiness and there's truth to that at some level.

[00:02:39] But there's also some not truth to that as well. Things that bring you happiness have some sort of intrinsic value they're valuable to you, but they're not necessarily valuable to others. Things that make you happy, aren't necessarily the same things that make other people. [00:03:00] Money on the other hand has a utilitarian value, a extrinsic value.

[00:03:05] It is recognized as having value in the real world, but that value doesn't necessarily equate to happiness. Either. You can find things that make you happiness happy, and you can buy them at a store. But. That tendency, that feeling tends to not last very long. So it's bringing you happiness, but it tends to be fleeting in some ways.

[00:03:34] Now, obviously in certain situations, if you're living below the poverty line or if you're struggling and not making very much money, then doubling your income or increasing your income can bring security and safety. It can bring stability to your life. And along with that, it can bring happiness. And I've talked before about how there's studies that show somewhere around 60 to $75,000 [00:04:00] a year.

[00:04:02] Begins to be that kind of turning point where it begins after that to have diminishing returns and somewhere around 95 to a hundred thousand dollars a year, it stabilizes and going from a hundred to 150. Does it increase your happiness where going from 35 to 70, certainly would at least in most cases that's true.

[00:04:23] And a lot of that just has to do. Being able to access things like healthcare, better food better living situations and those sorts of things. But there's a different way to look at this as well. Money can buy happiness in terms of buying experiences. If it turns out that when you spend money on things that build relationships and build connections and have experiences that create memories that turns.

[00:04:52] Out to have a more lasting effect on your happiness as well. It turns out that giving [00:05:00] in some ways, being able to give either money away or giving gifts and other things, again, up to a certain level, begins to affect our happiness as well. But buying things for ourself, even things that are worth the same amount as the gift that we would give.

[00:05:17] Has a more transient effect. It doesn't last as long, the happiness doesn't stick as long being rich. Is it necessarily the route to happiness instead doing things and spending money on others is often the route to affecting our own happiness, creating experiences, creating gifts, creating relationships, and using the money to facilitate that tends out, tends to have a longer lasting effect on your happiness than the other things.

[00:05:56] That's why that expression money can't buy happys. [00:06:00] Has some truth to it because what we often, instead of trying to create experiences in relationships, we often focus on buying things, buying stuff the newest iPhone, the newest watch, the newest toy, the best computer, the coolest car and all of the studies.

[00:06:19] So show that when we spend our money in that way. Yes. It gives us a little momentary moment of joy. But that joy doesn't last, it doesn't stick. And the happiness that creates is transitions quickly to a series of normalities. And what's more then it's, you have to even spend even more and buy the fancier thing or the next gift.

[00:06:43] It's why you get on this treadmill of constantly wanting the next newest toy, cuz that gives you that moment of joy back. But remembering that, that joy doesn't. You have a choice to also get off of that treadmill and begin to use your money in other [00:07:00] ways to create experiences and to create gifts that actually have a more lasting effect on your happiness instead.

[00:07:08] Thanks for listening.

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[00:07:36] Inspired stewardship.com/treasures or text in the us 4 4, 2, 2, 2 treasures tips. And we'll send you five weeks of our best tips on stewarding your treasures until next time invest your. Your talent and your treasures develop your [00:08:00] influence and impact the world.