Money Can Buy Happiness When Spent on Experiences and Freedom Rather Than Just Material Goods
Source: https://www.theguardian.com/profile/eleanor-margolis. "The hill I will die on: Yes, money can buy you happiness – if you spend it right | Eleanor Margolis | The Guardian." April 11, 2026. www.theguardian.com
The Gist
The author argues that while money can't solve every problem, it definitely can buy happiness if you use it wisely. Instead of just buying stuff, spend money on experiences, travel, and securing basic needs like housing - this reduces stress and opens up a bigger, more interesting world.
Conclusion
Money can buy happiness if you spend it right - specifically on experiences, time, and opportunities that expand your world rather than just accumulating material possessions
Premises
- Financial stability reduces stress and anxiety, which are barriers to happiness
- Money provides access to experiences that create lasting positive emotions like awe and novelty
- Having more disposable income makes your world bigger by enabling travel and new experiences
- Free time has become commodified under capitalism, so money buys the time needed to pursue meaningful activities
- Basic human needs like housing security directly impact happiness, and money can fulfill these needs
- Research shows people with higher incomes are generally happier, though money can't solve non-financial sources of unhappiness
- The ultra-wealthy who hoard money without using it for experiences remain unhappy, proving the importance of how money is spent
Assumptions
- Happiness can be measured and compared across different income levels
- Experiences like travel and novel environments reliably produce lasting happiness
- The current economic system makes basic needs and free time expensive commodities
- People have the knowledge and ability to spend money in happiness-maximizing ways
- Financial stress is a significant barrier to wellbeing for most people