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Money and happiness:
   Is there any correlation?



Summarized by
Jaroslav        Conclusions of current personality research
Prochazka
We western people tend to connect happiness with
         extrinsic or material aspects
We say:
“I’ll 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
Let’s check current research
Let’s check current research
Let’s 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        Deep and enduring relationship
              Helping others improve their lives
categories          Grow and learn new things
checked                       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 weren’t happy

• Moreover, they mentioned increased anxiety and depression although they
  achieved their goals!
One research is not enough to convince you?

              You are right!
Let’s 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, 410–422.

• Kasser, T., & Ryan, R. M. (1996). Further examining the American
  dream: Differential correlates of intrinsic and extrinsic goals. Personality
  and Social Psychology Bulletin, 22, 280–287.
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, 251–277.

• 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

It’s just a false need generated by current society.
Let’s 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
     Don’t 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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Money and happiness

  • 1. Money and happiness: Is there any correlation? Summarized by Jaroslav Conclusions of current personality research Prochazka
  • 2. We western people tend to connect happiness with extrinsic or material aspects
  • 3. We say: “I’ll be happy if …”
  • 4. “If I have a new car.”
  • 5. “If I get higher salary.”
  • 6. “If I buy a countryside house.”
  • 7. “If I become famous.”
  • 8. “If I have a few millions.”
  • 9. “No, wait! Rather billion ;)”
  • 10. Is it really like this? Happiness = Extrinsic aspects
  • 11. Is it really like this? Happiness = Extrinsic aspects
  • 14. Let’s 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.
  • 15. 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
  • 16. 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)
  • 17. Intrinsic  Deep and enduring relationship  Helping others improve their lives categories  Grow and learn new things checked  Physical health
  • 18. Extrinsic categories checked  Being wealthy person  Being admired by many people  Appealing image
  • 19. 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
  • 20. Research conclusion • Although people with extrinsic motivation achieved their goals (they become wealthy and admired), they weren’t happy • Moreover, they mentioned increased anxiety and depression although they achieved their goals!
  • 21. One research is not enough to convince you? You are right!
  • 22. Let’s 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, 410–422. • Kasser, T., & Ryan, R. M. (1996). Further examining the American dream: Differential correlates of intrinsic and extrinsic goals. Personality and Social Psychology Bulletin, 22, 280–287.
  • 23. 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, 251–277. • Csikszentmihalyi: Beyond Boredom and Anxiety: Experiencing Flow in Work and Play, 25th anniversary edition, Jossey-Bass, 2000
  • 24. So, is it really like this? Happiness = Extrinsic aspects
  • 25. No Happiness Extrinsic aspects It’s just a false need generated by current society.
  • 26. Let’s save your time hunting extrinsic aspects ;) After achieving quite low level of extrinsic aspects our happiness and psychological health is no more in correlation!
  • 27. So what to do instead?
  • 28. Happiness Known and lived purpose (known and followed intrinsic motivation)
  • 29. • Think what you are good at, better than others  Don’t 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
  • 30. • 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
  • 31. • 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, …
  • 32. • No correspondence between those and your daily job?
  • 33. • No correspondence between those and your daily job? • Change it!
  • 34. • No correspondence between those and your daily job? • Change it! • Start the journey and make your hobby your job!