Tin tức

The role of money in living a good life

Viết bởi: Le Quoc Chon, 03 03 2022
Many studies have been tried to answer this question and most of the time these studies based on survey - subjective responses. It is hard to confirm the absolute truth behind conclusion of these studies. Some studies found that pay is not a big deal to motivate employees at work, it is said that money and job satisfaction have low correlation, confirming that the match between interest, skills and tasks is crucial. Other study found the opposite as this one (doi: 10.4038/sljass.v9i1.7144) reported that workers in Sri Lanka work better and feel better when they are rewared higher pay. Study of Daniel Kahneman and Angus Deaton found that poverty exacebates adverse circumstances (sickness, divorce, loneliness...) in life. Money in fact help us live better and feel better when money can bring solutions to solve our problems as house, car and leisure. Beyond these necessity, money does not change must our emotional well-being. In the United State, the threshold is $75 000 yearly income. 

The role of money in our life seems to be subjective, depending on what we need or want and can money help meeting those needs and wants. If money does, it definitely help to improve our life. Otherwise, money seems to play less important role. Therefore, each of us need to identify as clearly as possible our needs and wants, rank them in order of important. Then evaluate them if money can offer satisfaction. We will eventually know the role of money to our life. I believe this role only right at individual level because we are different and our desires are different. 



Does Money Really Affect Motivation? A Review of the Research on hbr.com

High income improves evaluation of life but not emotional well-being on pnas.org

Impact of Financial Rewards on Work Motivation of Operational Level Employees: Evidence from a Leading Manufacturing Organization in Sri Lanka (doi: 10.4038/sljass.v9i1.7144)

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