Summary

The article argues that money can contribute to happiness by facilitating better health, autonomy, and time management, which are essential components of happiness, and it discusses the role of side hustles in achieving these.

Abstract

The author of the article challenges the common saying "Money can't buy happiness" by presenting the argument that money can indeed help secure the elements that lead to happiness. These elements include good health, autonomy over one's life, and the time to engage in activities that bring joy. The author emphasizes that while money alone does not guarantee happiness, it serves as a means to an end by providing the resources necessary to improve one's quality of life. The article also explores the concept of side hustles as a modern solution to financial limitations, allowing individuals to earn additional income and thereby purchase more freedom and happiness. The author shares personal experiences of how increased productivity and financial gains have helped regain control over their life and time, leading to a pursuit of happiness through financial stability and personal autonomy.

Opinions

The author disagrees with the notion that happiness is independent of money, asserting that money is a crucial facilitator for achieving happiness.
Good health is seen as a foundational aspect of happiness, with money playing a role in maintaining or improving health.
Autonomy and control over one's environment are considered vital for mental well-being and the ability to enjoy life fully.
Time is viewed as an essential resource for happiness, which can be more easily managed with sufficient financial means.
The author believes that money can indirectly buy happiness by providing access to health care, enabling the outsourcing of tasks, and allowing for the pursuit of personal interests.
Side hustles are positively regarded as they offer a path to increased income, which in turn can lead to greater happiness by offering more control over one's life and time.
The author suggests that the ultimate goal of earning more money should be to enhance one's quality of life and pursue true happiness, rather than simply acquiring material wealth.

Money Can Help Make You Happy

And that’s why side-hustle culture exists

“Money can’t buy happiness” is a lie.

There has been a lot of debate about the idea, and there’s even research that’s been done about it.

The people who argue against the idea love to say that happiness can only be found within you. They say you can be happy with no money at all.

I disagree.

I think money can buy happiness, just not directly.

Before we dive into that though, we need to define what happiness is.

What is happiness?

I define happiness as the state you’re in when you have:

Good health
Autonomy and control
Time

You need good health to be truly happy, because having pain or health issues can be a limiting factor to what you can do in a day.

If you want to spend your day gardening but you can barely get out of bed because your back hurts too much, then you won’t be able to enjoy your day the way you wanted to.

You also need to have a certain level of control over your day and your environment, so you can be relaxed and have the energy to do what you want.

For example, if you live with some roommates who make a lot noise and leave a mess everywhere, you might be so mentally drained from dealing with it that you don’t have energy to work on your projects and hobbies.

Finally, none of that matters if you don’t have the time to do anything.

In my case, I was so busy with school, work, and my son that I almost never had time to do my own stuff. And when I did have time, I was usually catching up on other to-dos that I had missed.

Without having time to enjoy my hobbies, I ended up losing the joy in my life. I also felt that I didn’t have any autonomy in my day which caused a lot of frustration. My constant unhappiness and bad mood is what ultimately pushed my wife away and led to our separation.

Since then, I’ve been focusing on regaining autonomy in my life and trying to make more time for myself.

Some of that comes down to increased productivity, but I’ve also realized that money can play a huge factor.

How can money help?

Money is a facilitator.

It makes it easier for you to get better health, more autonomy, and more time.

But money won’t do it all on its own. You could be the richest person in the world, but if you sit on your couch all day and eat unhealthy food, your health won’t be better than someone with less money who takes care of themselves.

The difference is that it’s a lot easier for you to pay for a gym membership and high-quality food when you’re making $10k per month than when you’re making $1k.

The same can be said for autonomy and time.

If you have enough money, you can outsource some of your tasks like cleaning or cooking. This can save you quite a bit of time and energy, which you can devote to other things that bring you happiness.

It also becomes easier to find ways to increase your autonomy or say no to things that might reduce it.

So while money doesn’t make you happy directly, it gives you access to the tools you need so you can pursue your happiness.

This is why side-hustle culture is so prevalent these days

The relation with side hustles

Side hustles are a great way for someone to make extra income.

And in a world where more money can lead to better outcomes, side hustles can be a huge benefit. This is especially true once they start gaining traction and bringing in a good amount of money.

We’ve all heard that salaries aren’t keeping up with inflation and cost of living, so if someone wants more money, a side hustle is usually the best option.

The extra income also allows you to start buying back your autonomy.

When you make enough money, you can start reducing your hours at your main job. And since side hustles depend on your schedule, it gives you more control over the way you spend your time.

That’s what led to the rise in popularity of side gigs.

This is why I’m working on building my online writing business on the side.

I know that once I start making a stable income from this, I can go part-time on my job as an administrative assistant. That in turn will free up more time for my hobbies and give me autonomy on the days where I don’t work.

Eventually, I hope to be able to quit the job entirely if I feel that I’ll be happier that way.

Money is nice, but that’s not what it’s all about

While extra money is great, there’s one thing that’s important to remember: the point of more money isn’t to get all flashy and show off, it’s to help you pursue the things that make you happy.

If you double your income but start blowing all the extra money on luxury items and expensive things, you’ll be right back where you started and no closer to finding happiness.

Keep the goals of health, autonomy, and time in mind when you’re pursuing extra money to see if the tradeoff is really worth it.

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