What makes you happy – personal growth or money?
Do you have headaches and stomach problems?
Do you have sleep problems?
If you do, these problems may be related to an overemphasis on extrinsic values or goals based on recent psychological studies. These values include “money, luxury, appearance, attractiveness, status, popularity, looks, and power,” according to Kennon Sheldon, professor of psychology at the University of Missouri.
Studies show that money does not bring happiness and in fact my hurt happiness or our sense of well being.
Recent research also shows that if you are focused more on intrinsic values, such as personal growth or self-knowledge, you tend to be more happy than people who are driven by extrinsic values.
Our consumer-oriented society which focuses on extrinsic values does not make us happy. The “hedonic adaptation” principle comes into play here. You get accustomed very quickly to new material possessions. The initial fun and satisfaction wears off very fast.
In my own experience, I’ve found that the adaptive principle can also apply to those seeking personal growth. I know a number of people who constantly run from one personal growth guru to another. They never seem to be satisfied.
Having a higher income, on the other hand, may improve your “life evaluation” according to psychologist and Nobel prize winner Daniel Kahneman. He has asserted that earning the magic figure of $75,000 annually leads to a high level of emotional well-being.
My feeling is that we live in a world of abundance and that you are not limited by the amount of money you can earn, unless you think you are.
The latest psychological studies on the impact extrinsic and intrinsic values may have on our sense of well-being do make for fascinating reading. I take them, however, with a grain of salt.
Why limit yourself to one system of values or the other? I prefer a blend of both sets of values. I’d like to have “my cake and eat it too.” Wouldn’t you?
Based on the article: Why Seeking More Money Hurts Happiness
