Do you agree with the fact that money won’t make you happy? 

They say money doesn’t make you happy, and while many people might roll their eyes and say, “Give me that money so I can prove you wrong,” experts say that this statement is actually true. However, it may seem like the ultimate dream, but having huge amounts of money often comes with a pack of difficulties. According to studies, only self-made millionaires report higher levels of well-being, and happiness declines after a certain income level.

Are you curious about the unexpected challenges that come with being extremely wealthy? Learn why money won’t make you happy, and you will start to appreciate more what you have now, even if it’s not a lot.

You’re a target for theft

For good reason, one of the biggest concerns of the ultra-wealthy is crime. Being extremely wealthy makes you a prime target for many criminals. Hackers breaking into your home, robbers taking your expensive belongings, kidnappers holding you hostage, and cybercriminals breaking into an offshore account are just a few examples.

People may hate you

Another reason why money won’t make you happy is because a lot of people will hate you. According to a recent study by Cornell University and Ohio State University, most people respect individual billionaires but despise the mega-wealthy as a socioeconomic class.

Furthermore, results from other surveys show that a large portion of the general public believes that the rich people in society are dishonest, greedy, and responsible for wealth inequality because they fail to pay their fair share of taxes.

You may attract “gold diggers”

Are you rich but also single and ready to mingle? You might think that’s great, but unfortunately, this shows that money cannot buy happiness, and being incredibly rich can make the dating scene particularly intimidating. Why?

Well, it can be difficult to figure out who is interested in you for you rather than your financial situation. It’s all too easy to wind up with a gold digger who only wants to take advantage of you and your possessions, as many millionaires and billionaires can attest.

Studies in psychology suggest that people with wealth might not be as adaptable and empathetic in their romantic relationships compared to those with less money. This difference can sometimes lead to challenges in their relationships.

You will be expected to pay for everything

Having everything you want may sound appealing, and the fact that you can afford to buy all the expensive things that become real has a few drawbacks too. Picture this: you got invited by a couple of friends or family to enjoy dinner somewhere at an expensive restaurant. That’s no problem, especially if you have the money to pay for what you order.

However, don’t be surprised if the whole table is expecting you to pay for everything, especially if you’re the richest person in the room. Heh, this might not be a problem at first, but after a while, you will have a huge list of resentments.

And it will be just a matter of time until you realize that money won’t make you happy and people around you might just want to take advantage of you. This leads to our next point of view of the article.

You will never know if your friends are real or not

Being super rich can make you doubt if your friends are actually being real with you. You start to think if they’re around because they care about you or just because you’re the one picking up the tab for meals and vacations.

Ask yourself this, if you lost everything at once, would they drop you like a hot brick in the blink of an eye? Or will they continue to be devoted to you? These uncertainties can be widespread, affecting your self-esteem and making you feel insecure.

You have to keep more secrets

If you used to be open and honest about your state before being rich, this might change now. Telling everyone how much cash you have in your accounts is definitely not a good idea, so being a bit more secretive than usual can benefit you.

However, according to psychologists, keeping secrets all the time might have a bad impact on your mental health, which may lead to depression or high anxiety levels.

Your family will be affected too

As a person from the middle class, it will be tempting to believe that being a rich parent can help you raise the kids better and, of course, make sure they have everything they need. This is not 100% wrong because if you have the necessary finances, your kids can go to the best schools and universities, and/or hire private tutors for them to help them learn better and do well on finals. However, this may also backfire and turn the children into spoiled ones.

It’s not always in their best interests to give them everything they ask for, and this parenting approach can result in annoying brats with an exaggerated sense of entitlement that won’t help them in the long run.

You will always be stressed

Another strong reason why money won’t make you happy is because you will be more stressed than usual. Imagine having a lot of money in your accounts and constantly living in fear they might be stolen. And if you’re a rich and influential people you might have a target on your back.

Managing your finances and business, managing your thousands of employees, and managing huge amounts of money can make life extremely difficult. Consequently, this may result in elevated stress levels and, in certain situations, complete burnout.

Little things won’t make you happy anymore

Richer people are less likely to enjoy the small pleasures in life, like sharing a piece of chocolate or spending time with their significant other. Simply thinking of money can greatly reduce happiness.
And it’s not just the small things that lose their enjoyment. Even luxury items like supercars, expensive jewelry, and designer clothes can become boring when you have more money than you know what to do with it.

You’re likely to be bored

…But how can you be bored if you have the necessary money to do whatever you please? Well, this is another proof that money won’t make you happy. Over time, if you already tried many new things or went to plenty of places you wished to visit, your motivation may start losing its spark. A lot of rich people suffer from boredom. Ironically heh?

You will always want more

Various studies show that most millionaires interviewed believed that they would need to increase their wealth by an amazing 1,000% to feel completely content. The interesting thing is that just 13% of respondents claimed that their current level of wealth would be sufficient to bring them complete happiness. What does it mean? For most people, their current situation is simply not enough which means that money won’t make you happy no matter how much you have.

Once you’ve learned that money won’t make you happy, you will want to appreciate what you already have. Instead of wishing to become rich overnight, consider saving more from your current resources without compromising your current lifestyle.

Habit Stacking for Frugal Living is a book that will help you create positive habits that will help you change your saving and spending habits and achieve your goal. Whatever your struggle is, this book is going to give you tips on how to free yourself of financial stress and be more responsible.

You may also like 8 Dumb Things You Should Never Do With Your Tax Refund.