Wealth and Well-being: Are Money and Happiness Related? | Florida Capital Bank

Who hasn’t heard the old adage “Money can’t buy you happiness?” While those without much of it are more than willing to test this theory, repeated studies show that generally the results, in fact, corroborate the saying.

While struggling to make enough to make ends meet can create stress in our lives, once your income threshold reaches $75,000 per year, there is no measurable increase in the enjoyment you get from life. In a literal sense, no, money itself cannot directly buy you happiness. However, the things that do affect our happiness the most are indirectly yet intrinsically tied to what we do with what we have.

What Makes a Person Happy?

If you were to make a list of what makes you truly happy, in a long-lasting, fulfilled kind of way, no doubt many of us would have things such as family, friends, and hobbies at the top of the list. Not many of us would list the $5 dollar bill in our wallet as the source of our true happiness. Instead, it is the time we spend with those we are closest too, and the time we spend engaging in our favorite pursuits that nourish our souls, creating tangible joy. In that frame of reference, the amount of cash in our pockets truly does not matter at all.

Time Has Come Today

Everyone in our modern, fast-paced society is increasingly busy. Whether it’s family or your job, it seems like we are all pulled in a number of different directions. What the studies in regards to money and happiness have found that the amount of time we are able to spend doing what we really want to do is what affects our underlying sense of happiness. The freedom to do what we want is the true barometer of how we feel deep inside.


While money can’t directly buy you happiness, it can help you buy more time. Think about all the things that keep you from your true passions. Outside of work, you’ve also got a home to take care of, bills that need to be paid, and a future to worry about. In this respect, money may be able to help you find your happiness. When you have enough, you can invest it in ways that helps you find more time. Look at how you spend your time from day-to-day. Is it on things that make you happy? Are there ways that your funds could be helping you free up more time for the things you love? Could you hire a maid service instead of spending your free time cleaning your home? Would less time spent on repairs around the home give you more freedom?

Mind On Your Money

Is worrying about your financial security and future eating into your time spent doing things you enjoy? Are you stressed about paying bills and managing your finances?  At Florida Capital Bank, we want you to spend as little time worrying about your money as possible. That’s our job. Our online banking options are designed to help make your life easier. You can transfer funds, check balances, and even get customized email or text alerts so you don’t need to hover over your computer checking your bank account.

We enjoy educating people like you on how to best manage your finances, so you can bank how you want, when you want. It may be true that money can’t buy you happiness, but at Florida Capital Bank we think understanding how to manage it is a step in the right direction.