Being wealthy or financially struggling does not determine an individual’s happiness. 

Studies by psychologists around the world suggest that being wealthier causes issues that would elevate anxieties to a level that is on par with those who struggle financially. These anxieties stem from the so-called “rich people problems” that many jokingly speak about.

So, simply based on this, either side can be dealing with issues that affect their emotional health which proves that being on either side of the token won’t really matter at the end of the day.   

With wealth comes problems. 

The first set of them is higher taxes, which one may not be as accustomed to paying. The more taxes an individual has to pay, the more financial means they have to set aside for the payment. Another challenge that may present itself is losing friends. Friends of those who are wealthy may invest time into a relationship with a wealthy individual simply for their money, or because of their potential connections to other financial means and success.

When they realize that things aren’t just handed over to them on a silver platter, they abandon the friendship and create trust issues within the wealthy individual going forward. A wealthy individual has to be careful of who they are friends with because they might not know the other person’s real intentions.

The third issue that they might run into is maintaining their wealth. This is due to the many aspects of the economy which have a larger effect on wealthier individuals than others. 

If the stock market crashes or if interest rates go up, this may negatively impact an individual and their family, leading to a period of stress-inducing financial recuperation.

Lastly, the safety of those who are wealthy may come into question. especially if they’re public figures. With some or an immense sense of wealth, comes dangers because people begin to take notice.

On the other side of the spectrum, some are struggling financially.  

The first issue is simply making ends meet and hoping to have some leeway to provide for their family or loved ones, let alone themselves. Many tend to not even reach this point of leeway, resulting in a paycheck-to-paycheck kind of lifestyle which is inherently stressful.

Secondly, spending is a challenge to overcome because most of the time, the majority of any financial means will go to what is necessary. This more so ties into another issue which has to do with not being able to enjoy money for what it is.

The lack of leeway won’t allow an individual to spend casually or for their own enjoyment or happiness. An individual’s life may end up revolving around trying to survive which to many isn’t a healthy way of living.

One last issue that arises is how to approach raising and financially supporting a family with a lack of financial means. Many families will adopt the mentality of simply living for their children. This mentality leaves little to no room for self-improvement, joy, and overall happiness throughout life. Others will adopt a mentality of survival doing whatever they can to put food on the table and keep a roof over their family’s heads. 

Happiness is not determined by an individual’s financial status or wealth. Wealth does not mean health or happiness in all cases.

This is a disproportionately believed or acknowledged thought pattern that may damage an individual more so than help. Obviously, there may be other forms of evidence that may go against my belief, but based on personal experience, money brings some happiness but when a shortage of it comes along, there’s nothing but stress.

To determine whether happiness correlates with the financial wealth of an individual, it’s necessary to define and understand happiness for what it is.

Happiness is defined as “a sense of well-being, joy, or contentment.

Knowing the layers and definite features that happiness presents is vital to determining whether an individual is happy either because of monetary means or other unrelated reasons.

So, if an individual is solely happy due to money being in their life, it’s likely that other areas of their lives are surrounded by a lack of joy. While those who are happy with or without money may appreciate what life has to offer them in a multitude of ways that others struggle to do.

As a result, an individual may experience the truest form of happiness and contentment throughout life without the piece of paper the world is consumed by.