The connection between happiness and wealth also depends on cultural context. This might be possible for some individuals, especially in richer societies where standards of living are quite high and personal wealth is a necessary part of social living (Hsee et al., 2009). Many agree that personal wealth can help us attain material items that grant us quick satisfaction, but academic researchers and many in the general public ask whether material wealth can “buy” lasting happiness (Hsee, Yang, Li, and Shen 2009). Using the term “prosocial spending,” this paper argues that spending money on other people is perhaps the universal way to ensure that our wealth can increase our happiness.Ī large body of research has been dedicated to discovering the psychological links between the amount of money we earn, how we earn it, and how we spend it. This paper is concerned with the relationship between an individual’s wealth and happiness once these basic needs have been met. Many have concluded that while personal happiness does not grow according to the amount of money a person has in their possession, many also argue that a certain amount of material wealth is required in order to obtain basic needs such as shelter, nutrition, and sanitation. A large body of research is dedicated to discovering the links between personal happiness and financial wealth.

Spent money on others