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His creature, the theory called “hierarchy of needs”, identifies different determinants of happiness (Maslow et al., 1998). The theory shows us personal needs as a pyramid structure with three main types of needs: basic needs at the bottom, psychological needs in the middle, and self-fulfillment needs on the top.
In case most of the needs of the second sector are met, it is the time for the person to reach the goals of self-fulfillment like fulfilling your unique potential including creative activities.
According to Maslow’s theory, money does buy happiness in case if you are living in the poverty and your main goal is to satisfy your ground needs, however, money cannot guarantee for 100% achievement the highest levels of true happiness (Maslow et al., 1998).
The fact that money cannot buy you happiness is considered as the generally accepted wisdom over the world, however, it is not possible either to simply agree or disagree with this statement without defining what is happiness and understanding the connection between these two concepts.
On the one hand, according to Merriam-Webster’s dictionary, happiness is simply “the state of being happy or an experience that makes you happy”. The provided definition is short and clear, however, happiness is a very difficult concept to define as it depends on a personal perspective of happiness for each individual person.
On the other hand, money is “something (such as coins or bills) used as a way to pay for goods and services and to pay people for their work.” (Merriam-webster.com, 2016), it is a basic need for our everyday purchases.
For sure, financial wealth makes our life easier and provides wider opportunities for the person who has enough money.Money is given huge importance and the simple things which bring us true happiness are often overlooked. It does not cost anything but can fill your life with happiness. It cannot be traded for any amount of money in the world.Generally, people believe that they can make someone feel happy or loved with the help of money, and perhaps they can but only for a while.The way of measuring happiness is different for everyone.Few people trust that money can buy happiness, whereas others disagree.Having enough on your account allows you to buy a bigger house, a new car, visit rock-star concert, go shopping without any limits or travel all over around the globe.But can new house, shopping or non-stop traveling over the world bring you the true, eternal joy?Basic needs include all physiological and safety requirements such as food, water, rest, personal security and safety. Indeed, financial wealth is the best way to fulfill all these requirements. To sum up, purchasing goods will only result in a limited amount of satisfaction, but true happiness can be reached even without financial wealth. Money cannot buy happiness because the most valuable things in life, such as friendship, love or happy memories, cannot be bought with money, they have to be earned.