Study on money and happiness

[Dr. Richard Grossman]

Laura Rowley (Yahoo financial columnist and author) comments today on a study on money and happiness that appears in the June issue of Journal of Research in Personality.  (I have not seen the study.)

http://finance.yahoo.com/expert/article/moneyhappy/167884

From Rowley’s article:

“Those who had the biggest increase in the amount of attainment of wealth, fame, and image actually showed no increase at all in well-being -- zero,” says Edward Deci, psychology professor at the University of Rochester, who co-authored the study with Ryan and Christopher Niemiec. “Even more startling, some of those people showed increases in ill-being, including depression and anxiety.”

Also:

Says Deci, “We believe there are three fundamental needs that have to be met to be psychologically healthy: relatedness -- to have relationships with other people and feel a sense of belonging and inclusion; to feel competent, like you can effectively manage in the world and have an impact on the world; and autonomy or self-initiation -- that what you do is in line with your basic interests and values, and you’re not doing it just because someone is pushing you around.”

Amen.

Richard

[sKePTiKal]

I posted awhile back, on Deci's Self-Determination theory. I found it very useful as a way to think about just what I was hoping for, in healing. He refers to "3 Nutrients": autonomy, connectedness, and competence that we all need to balance for ourselves.

[Hopalong]

I think all this makes sense with one caveat:

Below a certain income level (which I think is above the official "poverty line"), the stress of that makes it very difficult to feel competent and/or autonomous.

You still can, but it's so much harder.

Relatedness, I truly experience as rich and free.

Competence, to some degree, I got. But it's hampered by the worry and scramble.

Autonomy--well, I work at what I must right now, and that involves dependency (on a boss I don't like). Yes, that can evolve and change...

Competence and independence are harder to experience when you need help.

imo,
Hops

[Dr. Richard Grossman]

"Below a certain income level (which I think is above the official "poverty line"), the stress of that makes it very difficult to feel competent and/or autonomous."

Absolutely, Hops.  Studies support this.   And a very important point, especially during these hard times...

Best,

Richard

[Anastasia]

I agree with Johnny Depp's interpretation of money making happiness.

[Dr. Richard Grossman]

Hi Anastasia,

Is this what you mean by Johnny Depp's interpretation of money and happiness:

“Money doesn’t buy you happiness, but it buys you a big enough yacht to sail right up to it.”

http://bumpshack.com/2009/06/02/johnny-depp-uncensored-vanity-fair-july-2009/

The research suggests a rowboat or a canoe would be just as good 

Best,

Richard