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Money and happiness:

Is there any correlation?

Summarized by
Jaroslav
Prochazka

Conclusions of current personality research

We western people tend to connect happiness with


extrinsic or material aspects

We say:
Ill be happy if

If I have a new car.

If I get higher salary.

If I buy a
countryside
house.

If I become famous.

If I have a few millions.

No, wait! Rather billion ;)

Is it really like this?

Happiness = Extrinsic aspects

Is it really like this?

Happiness = Extrinsic aspects

Lets check current research

Lets check current research

Lets check current research


Niemiec, Ryan, Deci (2009) The
path taken: Consequences of attaining
intrinsic and extrinsic aspirations in
post-college life. Journal of
Research in Personality, vol.
43(3), 291-306.

Goal of the research


To check the level of students attainment in three categories during
studies (Time 1) and 1-2 years after graduation (Time 2)
To check their psychological health and social functioning at the end
(Time 2) we call it happiness in this presentation

Two groups
of students
Group 1: extrinsic aspirations
(money, fame, and image)

Group 2: intrinsic aspirations (personal


growth, close relationships, community
involvement, and physical health)

Intrinsic
categories
checked

Deep and enduring relationship


Helping others improve their lives
Grow and learn new things
Physical health

Extrinsic
categories
checked

Being wealthy person


Being admired by many people
Appealing image

Research conclusion
Attainment of the intrinsic aspirations for personal growth, close
relationships, community involvement, and physical health related
positively to basic psychological need satisfaction and psychological health
In contrast, attainment of the extrinsic aspirations for money, fame, and
image was unrelated to basic psychological need satisfaction and related
slightly negatively to psychological health

Research conclusion
Although people with extrinsic motivation achieved their goals (they
become wealthy and admired), they werent happy
Moreover, they mentioned increased anxiety and depression although they
achieved their goals!

One research is not enough to convince you?


You are right!

Lets bring other proofs, e.g.


Ariely, D. (2010): Predictably Irrational: The Hidden Forces That Shape
Our Decisions, Harper Perennial.
Kasser, T., & Ryan, R. M. (1993). A dark side of the American dream:
Correlates of financial success as a central life aspiration. Journal of
Personality and Social Psychology, 65, 410422.

Kasser, T., & Ryan, R. M. (1996). Further examining the American


dream: Differential correlates of intrinsic and extrinsic goals. Personality
and Social Psychology Bulletin, 22, 280287.

And few more


Vansteenkiste, M., Neyrinck, B., Niemiec, C. P., Soenens, B., de
Witte, H., & Van den Broeck, A. (2007). On the relations among
work value orientations, psychological need satisfaction and job outcomes:
A self-determination theory approach. Journal of Occupational and
Organizational Psychology, 80, 251277.
Csikszentmihalyi: Beyond Boredom and Anxiety: Experiencing Flow in
Work and Play, 25th anniversary edition, Jossey-Bass, 2000

So, is it really like this?

Happiness = Extrinsic aspects

No

Happiness

Extrinsic aspects

Its just a false need generated by current society.

Lets save your time hunting extrinsic aspects ;)

After achieving quite low level of extrinsic aspects our


happiness and psychological health is no more in correlation!

So what to do instead?

Happiness

Known and lived purpose

(known and followed intrinsic motivation)

Think what you are good at, better than others


Dont worry there is always something ;)

Think about your intrinsic motivation and write it down


Community involvement, service to others, personal growth, physical health,
Helping customers to solve their challenges and issues

Find your flow moments (the moments you enjoy and forget about time)
Try to recognize them
Does it include the capabilities you are good at? Why not?

Try to reorganize your work environment to repeat flow moments and


reduce no-flow moments
Include also activities you are good at

Create the room for mastering your favorite activity


It should be also those you are good at
Share the result of mastering with others!

Find and master also calming activity to decrease stress


Music, art, sport, volunteering, massage, manual work, meditation, writing,
children or retiree care,

No correspondence between those and your daily job?

No correspondence between those and your daily job?


Change it!

No correspondence between those and your daily job?


Change it!
Start the journey and make your hobby your job!

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