'Can Money Buy Happiness?' 8 Students Answer

Is it better to be rich and miserable or poor and happy? Can money really buy happiness? Despite the long-lasting nature of these questions, there doesn’t seem to be a clear answer. Many think that happiness rises with income, while others believe financial wealth has little impact on your life satisfaction. We asked students from colleges and universities around the United States, “Can money buy happiness?” We received compelling arguments from both sides of the debate, and here’s what they had to say. 

1. Money can bring financial stability

“So, can money buy happiness? Yes. Money could finally make my mother a homeowner so she could stop living in people's basements. Money could pay off my mother's loans that she had to take out to pay bills and buy groceries so we could eat. Money could help me ease into my freshman year of college more effectively. Instead of me taking 14 credit hours and working 30 hours a week trying to figure out how to balance it all, I could channel that energy into school. Money could help me pay off my loans so I’m not already in deep debt when I begin dental school. Money could give me and my family the fresh start we were searching for when we emigrated from Jamaica.”

Roshae T. University of South Florida

2. Money can't buy human connection

“Happiness comes from sharing moments with friends, family and community, giving back to others, the satisfaction of working hard to achieve goals and stopping to enjoy the outdoors and nature. Money is a great tool that can help tremendously in each of these things, but if you took away the people, the internal peace of doing good or the peace of nature, money would be meaningless. I’d love to have unlimited money to buy fishing and hiking gear, a bass boat and trailer with a new truck to pull it, endless Chipotle and Panera meals, travel wherever I want, nice clothes, Nike shoes and money to go to whichever college I want. As much as all that would make me very happy, human connections are the key to happiness. I know I can find my happiness and climb any mountain, literal or figurative, that comes in my path, as long as I have their support with me.”

Ethan S. University of Massachusetts Amherst

3. Money can purchase products and experiences

“A lot of my happiness comes from spending money. As a teenage girl, I love having money. I love going to the mall with friends; I love spending an extra few bucks to eat dessert after a night out; I love buying new albums and vinyls from my favorite artists; and I especially love buying cute stuffed animals. Every time I hand over a bit of cash in return for something I’ve been longing to have, there’s no denying the shot of serotonin and dopamine that immediately gets transmitted to my brain…Money can buy happiness, simply because money can buy anything in this economy.”

Jazmine L. University of Texas at Austin

4. Money can't change your attitude towards challenges

“There was a time when my car needed new tires, and I didn’t have the $900 to cover the expense. It was stressful, to say the least. I could have easily fallen into the trap of thinking, 'If only I had more money, I wouldn’t have to deal with this.' But instead of getting lost in that mindset, I chose to focus on what I could control…I was able to save enough money for the tires, not because I came into some sudden wealth, but because I trusted the process and kept moving forward. That experience taught me a valuable lesson. It’s not the amount of money you have that determines your happiness, but how you approach the challenges life throws at you. When you believe in yourself and maintain a positive outlook, even difficult situations can feel manageable.”

Jayda C. University of Nevada, Las Vegas

5. Money can influence your upbringing

“Having enough money allows a family to choose where to live rather than being trapped in one area. Happiness is difficult to obtain when surrounded by suffering and death but is easier to find in areas containing peace and tranquility. People who are fortunate enough to answer ‘no’ to if money could buy happiness would never be cognizant of the life challenges that poverty-stricken people must face daily…I believe that money can 'buy' happiness, not through items, but through living circumstances…Since we live in a world filled with cruelty and injustice, children are not given the same chance to grow up in an environment that promotes happiness. Although money cannot guarantee happiness, it will at least increase the likelihood of encountering it.”

Caden H. University of North Florida

6. Money can't make your work more meaningful

“With this idea that money would bring me happiness at the forefront of my mind, I worked 90-hour weeks for several years, slowly increasing my income year after year. I was fortunate to get to a place where I could afford to rent an apartment all by myself and was even contributing to my 401k each month. I distinctly remember feeling like I had 'made it' when I did not have to look at the prices of items at the grocery store before making a purchase. That said, what is ironic is I would never use the word 'happy' to describe myself during those years…I have come to realize that while money can give you a sense of security, prioritizing doing more meaningful work (even if you make less money in the long run) is a key ingredient to living a happier, more fulfilled life.”

Clare S. St. Mary's University of Minnesota

7. Money can secure a quality education

“Nine year old Sebastián asked me for help in teaching him English to surprise his mother on the day of her citizenship test. Since our first meeting in 2019, young Sebastián had consistently been an eager student in our ASPIRE center course, clutching his four textbooks with determination…The textbooks he clung to, the classes I taught—they were all possible because of the resources made available through SEWA International, a non-profit organization dedicated to helping immigrant families like Sebastián's. It was money that enabled him to study, and in many ways, money bought the happiness that came with hope, progress, and possibility.”

Elsa S. University of Texas at Austin

8. Money can't replace the satisfaction of hard work

“When I was 12 years old I had my heart set on an Iron Man Lego set. During a trip to Target, I spotted it on the shelf and begged my dad to buy it for me. He told me that if I wanted it, I could work hard and buy it myself…I was able to scrape together enough money to buy the set. Full of excitement, I rushed towards my dad showing him the fruits of my labor. He proudly gazed at the money I had earned and took me to the store to buy the Lego set. Once I finally got the Lego set, I beamed at the box with pride. It was glorious. I assembled it in an hour and played with it almost every day that week, savoring the satisfaction of having earned it on my own… Money is not the only measure of success and for that reason it is not the only determining factor of happiness. True fulfillment comes from investing time to work on and achieve our goals in life.”

Javier S. Virginia Tech

So, do you think happiness can be bought with money? Does a larger income lead to greater happiness? No matter your stance on the subject, it’s important to start creating a healthy relationship with money now. As a student, you may be far from earning the annual income of your dreams. Regardless of how much you make, it's important to set financial goals, save a portion of your earnings, and educate yourself about financial literacy. Whether these student quotes confirmed or challenged your beliefs on the relationship between money and happiness, we hope you gained valuable insights to apply to your own financial journey.