It is irrefutable that finance is a vital necessity for each individual. Few commentators agree that financial stability is essential for a happy life, as money brings status, respect, and a luxurious life. However, others argue that people can live happily without a strong bank balance. I completely agree with the latter point. This essay shall look into both arguments.
To begin with, there are numerous reasons to believe that money can buy happiness. First, with strong financial stability, people can live a luxurious life. People can travel to different corners of the world. Secondly, people who have a high bank balance have status and respect from others, which is one of the most essential things. Lastly, people can purchase costly products by spending money. For example, according to one survey conducted by the Canadian Government, 30% of wealthy families spent a million dollars every year on purchasing unnecessary products.
On the other hand, there are a few reasons why people think that having a lot of money has no relation to happiness. Firstly, people who have a huge source of income have to pay money to the government every year in the form of taxes. Secondly, people are always under stress of keeping their family and money safe. Too much money won’t let you see every day’s little pleasure.
There are some reasons why people believe that without money, people can live happier. People who live in the middle class don’t have the stress of work pressure. Middle-class people can find happiness in little things, such as family. For example, according to one survey conducted by a Canadian hospital, 50% of people whose monthly paycheck is average compared to wealthy people, live longer than millionaires.
To sum up, definitely money is needed for everything in life. However, money cannot buy a life. One should be satisfied with just enough.