Why Make Money?

A lot of people want to make more money. Why?

Money allows us to buy things we want. That’s it.

There is a lot more to living a fulfilling life than collecting money. However, when we struggle financially, it makes everything else in our lives more difficult.

A certain minimum threshold of money is required for our well-being. (A 2010 study put the number at around $75,000 annually. A more recent study indicates that happiness increases with wealth up to about $500,000 annually for most people.)

So that begs the question: How should we spend our money? Each individual is going to have a different answer. Some money must be spent on basic needs. Maslow’s Pyramid indicates what else might matter.

Here are a few things I like to spend money on.

• Food, drinks, and shelter (basic needs)
• Healthcare (more fairly basic needs)
• Savings and investing (safety needs)
• Books, movies, games, and education, mostly via online classes (self-esteem needs)
• Experiences, including travel (self-actualization needs)
• Family and Friends, including gifts (belonging and love needs)

I’m not about to suggest that anyone with different ideas has it wrong! It’s good that we all have different ideas regarding what’s important.

Here’s what I know. A focus on money doesn’t lead to happiness. Experiences and relationships matter more. Nevertheless, having some money is critical for anyone to be happy.