Does Money Buy Happiness?
Studies show that people who use their wealth to help others or contribute to a larger cause experience greater satisfaction
The recent story of Vinay Hiremath, an Indian-origin entrepreneur who sold his startup for USD 975 million, raises an age-old question: Does money buy happiness? Despite his newfound wealth, Hiremath admits to feeling lost, highlighting a paradox many face when freedom is unaccompanied by purpose.
Money undoubtedly buys freedom—freedom from financial stress, freedom to explore passions, and freedom to choose your lifestyle. Yet, this freedom can also bring decision paralysis or dissatisfaction, leaving people struggling to find direction without boundaries or constraints.
Happiness vs. Fulfilment
Happiness is fleeting, often tied to momentary pleasures, while fulfilment stems from sustained effort, purpose, and alignment with one’s values. Fulfilment is a longer, more meaningful journey that requires constant work.
The Vedantic philosophy of Kama, Artha, Dharma, and Moksha offers timeless wisdom on this:
• Kama (sensory pleasures) is short-lived and fleeting.
• Artha (monetary pleasures) lasts longer but fades once basic needs are met.
• True fulfilment lies in Dharma (purpose) and Moksha (liberation). When Artha is channelled wisely, it can support dharma and lead to moksha.
The critical question is how we channel the freedom that money provides. Without a sense of purpose, wealth often leads to disconnection and stagnation. A recent Gen Z trend of “bed-rotting”—spending excessive time in bed with no motivation—is a striking example. Privilege without purpose can lead to unfulfilled lives, even amidst material comfort.
Lessons from Philosophy and Culture
Studies show that people who use their wealth to help others or contribute to a larger cause experience greater satisfaction. This reminds me of Martin Seligman’s experiments, where he taught his students practical lessons rooted in the difference between fleeting pleasures and purposeful happiness. The overwhelming resonance of his class with this philosophy highlighted how deeply we all crave meaning over momentary gratification.
This aligns with the Japanese concept of Ikigai—balancing what you love, what you’re good at, what the world needs, and what you can be paid for. This balance offers a roadmap for using freedom productively.
Gratitude also plays a vital role. While money brings freedom, gratitude for relationships, health, and simple joys grounds us, connecting us to the present moment.
Without discipline, even the most abundant resources can lead to chaos. Discipline bridges the gap between freedom and fulfilment, much like consistent effort sustains physical health. Life, like fitness, demands ongoing work to maintain balance and growth.
Wealth as a Means, Not an End
Human beings are, by design, a work-in-progress project. Imagine stopping your workouts for a month, indulging in unhealthy habits, and expecting past efforts to sustain you. The same applies to life, when wealth arrives, but the drive to grow and contribute halts, long-term happiness is lost.
Wealth is a powerful tool when used as a means to an end, not as an end in itself. It’s how you use freedom—how you serve, create, and evolve—that defines fulfilment.
Actionable Advice
For Vinay Hiremath, and for those who may not have USD 975 million but seek fulfilment:
• Set a purpose-driven goal, no matter your financial status.
• Find small ways to give back—time, effort, or resources.
• Embrace daily practices like gratitude, mindfulness, and service.
Money may not buy happiness, but it can be a catalyst for growth, meaning, and impact. The question isn’t what money can do for you, but what you can do with it.
What’s your take? Can money truly bring happiness, or is fulfilment the real prize?
(The above given article has been written by Yesudas S Pillai, Founder, Y&A Transformation and Strategic Advisor, Channel Factory)
