The idea that money can buy someone happiness is not a new concept and is something most of us have likely had a discussion with a friend or family member at some point in our lives. I recently read an article that was originally written back in May of this year, citing a study conducted by scientists at both the University of Pennsylvania and Princeton University, who found in their research that money can in fact buy happiness, as long as the money is spent on the types of purchases that can trigger “lasting and sustainable happiness.” Below is a link to the article, if you are interested in reading the entire thing:
As a Certified Financial PlannerTM, one of the ideas that I spend a lot of time discussing with clients is the concept of their hard-earned money being a tool to help them live a life that has meaning and value for them. This often leads into conversations about how balance their financial lives, especially with my younger clients who are still working hard, saving and accumulating resources for the future, while also trying to live in the present today. For many, this looks like saving for retirement, but also trying to pay down debts, purchase a house or complete a large home renovation project, save for their kids education and at the same time, use some of their money for things that can bring happiness, as the article references.
Lauren and I have tried very hard to put this to practice in our own lives. Many of you are aware that we have 3 boys, Harvey, Miles, and Graham (ages 7,5 and 3). They keep us busy with just normal everyday stuff, including school, soccer, swim lessons, various activities with friends and families, etc. However, when I read back through the article, I realized that we do try to incorporate many of the suggested ways to use our money in our lives.
For us, this often comes in the form of creating shared memories with our boys, or with friends and family. Whether it’s a concert at Blossom with friends, our annual family vacation to Norris Lake in Tennessee, or a date night out for Lauren and I (sometimes getting away overnight with the generous help of babysitting courtesy of grandparents!), Lauren and I continue to try our best to use the resources we have to balance our financial lives. When we do go out on date nights, one of the topics we routinely talk about together is remembering some of the fun places and things we have got to experience together- the aforementioned concerts, favorite restaurants we have been to, Broadway shows we have attended, or the best vacations we have taken with the boys. Below are a few photos chronicling these things:
Whether or not you are fully convinced the money can buy happiness, I think most of us can agree that the resources we have can be a tool to help us live a life that provides meaning and value to us- whether that is shared experiences, creating memories, or the gift of time that can be created by paying someone to clean your house or mow your lawn. We hope that this helps spark some ideas in your own life on how to use the financial resources you have, and we are here to help with those conversations as they pertain to your unique financial circumstances as we keep Moving Life Forward together.
© 2025 Nathan Ollish
Senior Financial Advisor
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Featured Blog Image Source: iStock.com/Khafizh Amrullah