By Cassie Silkoff ’25
An argument that is often discussed and disputed is about money, happiness and the correlation between the two. Does money buy happiness; or not? The answer is simple. Money only buys temporary happiness.
Material things do not last forever. The idea that money can bring long-lasting happiness is a common misconception. When you buy something new, there’s an initial rush—a sense of accomplishment or excitement. Say you purchase your Lululemon cart–hypothetically and not at all speaking from experience–and it is a very hefty expense, you feel good after you purchase your clothes and see what you have to look forward to, but when you look in your bank account you circle back to how you were feeling before the purchase: hollow.
You think that purchasing superficial items will be the missing key to give you that batch of dopamine; however, that feeling doesn’t last long. Very soon after a purchase we are left craving something else to fill the void. This is known as the “hedonic treadmill,” where no matter how much we acquire, our happiness remains at a baseline level. In the words of Lin Manuel Miranda, “We will never be satisfied.” We will always be searching for the next thing to satisfy us, although we will never truly obtain it.
Many people assume that those with money do not have struggles or feel the depression that those less fortunate feel. Clay Cockrell, who is a therapist for the “rich and powerful” says, “Many billionaires I work with have trust issues, lack a sense of purpose and struggle with shame, guilt and fear.”
“It’s better to be poor and rich in love than rich but poor in love.” Debasish Mridha coined the phrase and she had the right idea of what to value. Tina Silkoff, my mom, does too. Silkoff says, “My children bring me more happiness than any gift or item could buy; watching them grow up is the greatest gift of all.” Mike Silkoff, my dad, says, “We are happy; no amount of money compares to how I feel when I see my children succeed and flourish. It is always nice knowing you have cushion money, but you and your brother are my life.” My family has never been overly wealthy, however, we get by.
We get true happiness and fulfillment from meaningful relationships, personal growth, and contributing to something larger than ourselves. These sources of happiness don’t come with a price tag. Imagine spending time with friends or family, sharing laughter and creating memories. These moments of connection provide a sense of joy that lasts much longer than any material possession. Think of when you laugh at a joke your friend made days later, or go to your friend to cheer you up. The same can be said for pursuing passions, developing skills, and finding a purpose. These are things that give us a deep sense of contentment that money simply cannot buy.
Of course, money is necessary for survival and comfort. It can provide access to health care, education, and opportunities that can improve our quality of life. But it should not be seen as the ultimate measure of our happiness. True contentment is found through experiences, relationships, and personal growth, not in wealth. When we place too much emphasis on material wealth, we risk missing out on the deeper, more lasting sources of happiness that richen our lives in a different way.
And although Chris Janson says, “I know what they say, money can’t buy happiness, maybe so. But it can buy me a boat, it can buy me a truck to pull it.” it will never be enough. Once you have one of something, you will always feel the need to have more because of the competitiveness that our society has set up. Because society says that the number in your bank account matters more than relationships we should be valuing, we all try to be something we are not. However, not being yourself is always going to be a disappointment.
The pursuit of money often comes with its own set of stressors. In our society, the pressure to earn more, buy more, and have more can lead to burnout, anxiety, and a feeling of emptiness. We get caught in the cycle of working for things that don’t bring true contentment, forgetting that wealth doesn’t necessarily translate to happiness. In fact, studies show that after reaching a certain income level– beyond $75 thousand a year–, additional wealth has little to no impact on our overall happiness.
At the end of the day, the rush you get from money and spending it lasts less time than the pursuit of it or the cost of a purchase is worth. We should all focus more attention to the relationships and things we really value in this world like our loved ones as well as dreams and passions.
Next time someone asks you if money buys happiness, tell them there are more important things to put your focus on, like the things that will keep you feeling happy and satisfied in the long term. You might find that is exactly what they are lacking.
The Raider Press 