Can money buy happiness?

AsapSCIENCE asks this:

“We often hear it, but how true is the phrase ‘Money can’t buy happiness’? Is there a correlation between the two, and if so, what can we learn from it?”

You can watch the video to see what their answer is:

In my life I find it most accurate not to say money can buy my happiness, but having money makes it simpler to be happy. I am sure this is true for many people. Even if you are a generally lighthearted and happy person, debt and financial insecurity can create background stress and distraction. I know from experience the buzzing at the back of the brain that comes when financial issues arise. Especially when those issues cannot be resolved quickly.

Here are a few tips that I found especially helpful in my money management endeavors:

– If you don’t already have one, create a budget. Plan your spending months in advance, not days or weeks.

– Set aside money in your budget to have fun with (a “Play Budget”). For some people this might not be possible, but it can make a huge difference when trying to stick with your budget. It does not need to be a large amount.

– When you do spend from your “Play Budget,” buy experiences, not stuff.

– Set attainable financial goals and stick to a plan once you have one. There is no sense in creating impossible objectives. Not reaching the targets you shoot for can be more stressful and discouraging than just lowering the bar.

– If you have never budgeted before ask for help. My fiancĂ© was and continues to be a valuable resource in this area.

Debt aside, the amount of money you need to be happy depends on your living situation and only you can decide what that number is.

Can money buy happiness?