While the adage that money can’t buy happiness is popular, a closer look at the benefits of wealth suggests a more nuanced reality. While money cannot buy happiness itself, it can significantly contribute to a happier, more fulfilling life. This isn’t from buying luxury items but from acquiring the resources that lead to stress reduction and increased autonomy. 

   Financial control drastically lowers the constant anxiety that accompanies those living paycheck to paycheck. Having a financial cushion lessens worrying about housing, healthcare, and other basic human needs, such as food, water, and clothing. The absence of money creates a cycle of stress that continuously lessens well-being; the constant worry about essential needs leads to increased rates of depression and anxiety. Thanks to my parents’ financial stability, I have been lucky enough not to experience these anxieties, freeing up mental and emotional energy for other pursuits, a clear path to greater satisfaction.

   Money buys freedom. It allows individuals to choose how to spend their time and energy, which is important for well-being. With sufficient money already saved, people can pursue careers they enjoy, even if offered a lower salary initially, or dedicate time to passions or education. However, for those lacking this security, the time and energy spent on worrying obstructs long-term goals or education and effectively locks them into these distressing circumstances.

   Perhaps most significantly, wealth can buy time for more enjoyable activities by allowing one to hire others for undesirable tasks. Outsourcing chores like cleaning, gardening, or routine maintenance frees up time every week that can instead be spent on hobbies, loved ones, or rest. For those who cannot afford help, doing these chores takes time and vigor, leaving little space for leisure. Personally, my parents hire a gardener and cleaning crew, allowing me to focus on my studies or relaxation instead of difficult chores. This increased leisure time and reduced drudgery closely connects with a higher quality of life. 

   While money may not directly purchase the feeling of happiness, it certainly purchases the tools — security, control, and time — that create the conditions under which deep and lasting happiness is far more likely to flourish.