Friday, July 13, 2007

Did More Money Make Me Happier?

This morning I woke up and saw this article
on MSN. I've read the article before in the past, but this time I decided to think more about the article in the context of my own career.

Since I started my first full time job in 2004, I've changed jobs once and my salary has increased over 50% from my initial starting salary. I hope to be making over six figures before I turn 30 - this is an aggressive goal, but hopefully attainable given my current salary history (I'm currently 27).

More money has definitely allowed me to invest more in my future. Back when I started my first job, I had no emergency fund and was barely saving anything in my 401K or Roth IRA. Now I put the maximum in my 401K, can fully fund my Roth IRA, and have a healthy emergency fund. Getting married also increased my financial resources.

When I was making less, I was probably happier than I am now. Back then I was focused on saving anything I could and things seemed simpler. Now I'm focused on saving enough for a house down payment and maxing out my 401K. My financial concerns have changed, but they still exist despite the fact that I'm making more money.

2 comments:

Misti said...

Well they say that the more money you make, the more expenses you have. As your salary increases it gives people the freedom to add more extras to their lifestyles like a new car, extra cable channels, eatting out more, etc. I think the key when making more money is to try and save it and only spend a little of it. Try to stick to your prior living expenses.

Ms. MiniDucky said...

I think it's too easy to say that A (money) has increased while B (happiness) has not increased, therefore money didn't make you happier. It might be more accurate to say that things that affect B have become more complicated because you now have more options to consider which were not available when you didn't have as much A.

Besides, things and money don't make people happier, whilst the lack thereof tends to. I'd be less stressed with more money, that's for sure!