Earning Money Vs Spending time with Family and friends

It is important to earn enough money to be able to provide the basic necessities for your family. But, the trouble begins when your entire focus is on earning money. You lose out on savoring the small moments that can bring happiness and fail to create strong, loving relationships with your spouse and children. On the other hand, if you ignore opportunities to earn money to support the living standard of your family, you invite unhappiness. It is no secret that couples that are struggling financially tend to have more arguments.

What brings you happiness?

Different things bring happiness to different people. For some, it is money. For others, it is building and maintaining relationships. However, for some people, money is more important than family–some may call such people “workaholics.”

This does not mean that concentrating on earning as much money as you can will make you happier on a daily basis. When the only thing you think about is earning money, you do not have the time to enjoy the small things in life. You do not have time to “stop and smell the roses.” You are also continually pushing yourself to put in more hours into your work in an attempt to earn more. The consequences on your emotional and physical health are disastrous.

Materialism = Depression

There will come a time when your emotional wellness will be jeopardized. According to research conducted by Dr. Jason Carroll of Brigham Young University, excessive emphasis on money and materialism is related to depression and anxiety. Materialistic people were also found to make bad financial decisions like buying expensive things on credit.

Relationships = Happiness

If your basic needs are met, you will find that you get more happiness out of nurturing relationships. This is because we are social by nature. A survey conducted by Gallup has shown that if we have the support of family and friends, we are happier than if we have lots of money. Satisfaction in relationships appears to be above satisfaction with one’s earning power.

The conundrum

Here, we come to a difficult problem. We need money to make the circumstances of our life easier but, if we single-mindedly pursue money, we do not have the time to enjoy the benefits that it brings.

What’s the solution?

Surveys and research studies point towards relationships being the significant determinant of happiness, not money. So, a solution may be to find a balance between accumulating wealth and spending time with family. One should plan one’s financial roadmap such that one has enough money to secure one’s future. Careful financial planning can free up time to be fruitfully spent strengthening relationships with family and friends.

You can seek professional help from Financial advisors and counsellors who have useful tools and solutions to solve this challenge and find a meaningful balance.

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