Over at Think Christian today, I lend some broader perspective concerning the link between money and happiness occasioned by a piece on The Atlantic on some research that challenged some of the accepted scholarly wisdom on the subject.
The Bible is our best resource for getting the connection between material and spiritual goods right. I conclude in the TC piece, “As Jesus put it, ‘life does not consist in an abundance of possessions.’” Or to put it another way, we live on bread but not bread alone.
And so money is a good, but not a terminal good. It isn’t an end in itself, but rather is a means to pursuing other good ends. The Heidelberg Catechism teaches us, for example, that we work “faithfully” so that we might “share with those in need.”
Another piece just out today argues that money, when used rightly, can be a means to make us happy. But significantly, the findings of Elizabeth Dunn and Michael Norton show that such uses of money often correspond to ways not motivated directly by our own pursuit of happiness. Thus, among the “five key principles” they find that helps “turn cash into contentment” is one that resonates directly with the wisdom of the catechism noted above: “Invest in Others.” This means recognizing that “spending money on other people makes us happier than spending it on ourselves.”
Check out the work of Elizabeth Dunn and Michael Norton in their new book, Happy Money: The Science of Smarter Spending.