3. Money can buy experiences.
Lance Cothern, a certified public accountant, said he has been interested in money for as long as he can remember. He created the Money Manifesto blog to help others better manage their money.
Cothern said that having money enables his family to have adventures that continue to bring them joy long after they have returned from their travels. “I believe money brings us happiness because it allows us to experience the things we dream of doing,” he said. “Without money, many of us would never be able to experience that once-in-a-lifetime trip to Europe or Alaska that you’ve always dreamed about.”
4. Money lets you give back to others.
Lazy Man, creator of Lazy Man and Money, has been able to turn his passion for personal finance into a money-making blog. Since he created Lazy Man and Money in 2006, he’s learned a few things about the connection between money and happiness.
“Studies show that having $75,000 is a magic number for those who say they are happy,” Lazy Man said. But he added that more money doesn’t necessarily buy more happiness.
However, having money does give you the ability to give back to others — and having a purpose through volunteerism and charity is also often cited as a key to happiness, he said.
“I’ve found all that to be instrumental to my happiness … though, I’m still working toward the $75,000 number,” he said.