Can Money Buy Happiness in Your Relationship?

Can money buy happiness in your relationship? The answer is: it depends. 

Nobel Prize-winning economist Daniel Kahneman originally found that money only boosts happiness up to $75,000 in annual earnings. The researchers concluded that money had little impact beyond that amount.

However, he later found that money boosts happiness for most people, up to $500,000.

Marriage, Money, and Relationship Satisfaction

Research shows a nearly direct correlation between higher household income and increased happiness. Such findings are not one-offs nor did they take place in brief periods of time.

Since the 1970s, happiness levels have remained stable among the wealthiest, while those at the lower end of the income spectrum have seen a decline. During that time, happiness levels have remained stable among the wealthiest, while those at the lower end of the income spectrum have seen a decline.

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Related: Why is Money a Good Thing For Your Net Worth?

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Is the Love of Money the Root of All Evil?

Let's get right to the point. Having a hatred of money is counterproductive to using it to buy joy in your life and build wealth. 

In his Klontz Money Script Inventory (KMSI), financial psychologist Dr. Brad Klontz discovered that those whose money scripts fall into the Money Avoidance category hold the belief that money is inherently evil, harmful, or inherently bad. They may reject building wealth as a desirable goal or view wealthy people as greedy or wrong. 

In other words, hating money is one of the biggest psychological barriers to building happiness with money. Money doesn't buy happiness, but what we can do with it can buy happiness, and that's what drives our happiness.

Why Buying Stuff Fails to Create Lasting Happiness

Hedonic adaptation refers to the process of becoming accustomed to a positive or negative stimulus so that its emotional effects diminish over time. The satisfaction you feel when you buy the one thing you really want is instantaneous. As time goes on, we adapt to those same items, so they no longer bring us happiness.  

Therefore, we believe that these materialistic items will bring us more happiness from the moment we receive them, and that this feeling of joy will last longer than it actually does. The statement is simply untrue. Buying "stuff," tangible items, will not make us happy. 

Keeping Up With the Joneses

The social media world amplifies the false images of happy consumers wearing prized possessions, enhancing the problem of keeping up with the Joneses. This is particularly dangerous when we spend money on "stuff" that quickly becomes worthless to others and not needed by you. 

Don't compare yourself to the Kardashians or the Joneses. Take some time to think about what makes you happy in life and who makes you happy. Make the most of your money by spending it on these experiences with these people.

Professional Support

I support couples who want to better manage money or the home as a team in their relationship. I am also available for group coaching events.

I'm the only Certified Financial Therapist™, Accredited Financial Counselor® and Fair Play Facilitator®, empowering high-achieving couples with systems to manage money and the home as a team — drawn from decades of national leadership and lived experience.

Click here for more details about how and when I can support you.

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