It’s no secret that the poorest in our society often suffer the most in terms of mental health and general wellbeing, which does indeed beg the age-old question:
Does money buy you happiness?
Taking a trip down Maslow lane shows us that at its very core, having access to cash allows us to climb the pyramid of human needs from the bottom up.
Access to food, water, warmth and rest form the foundation of Maslow’s hierarchy of needs, base level physiological needs without which we would not be able to progress further up the ladder.
Past the heavily veneered stepping stones of prestige & feelings of accomplishment, towards the ultimate goal of self actualization.
Money’s impact on meeting our base level needs scales down exponentially the more we continue to earn throughout our lifetimes.
Higher salaries don’t mean that we stop needing to spend money at the bottom of the pyramid, but the extra flexibility does make it easier to summit.
According to the Bureau of Labor Statistics, most Americans will spend a majority of their income to meet the core physiological human needs, with housing and food taking two of the top three spots for yearly expenditure.
In the same vein as the foundational physiological needs, we then seek to provide security & safety for ourselves. Be that through job security, savings, pensions or on healthcare.
U.S healthcare spending reached $11,582 per person in 2019, figures that show us just how highly we value our health and wellbeing.
Beyond that however, where do we look to spend our money?
Traversing up the pyramid another level brings us into the realms of psychological needs.
We’re social creatures & we crave interaction and relationships; both intimate and platonic, with one another. We seek to connect with others to feel a sense of belonging, to love and to be loved in return.
Moving up once again, new cars & designer clothes can bring a sense of prestige to our day to day & a laundry list of accomplishments can go a long way towards helping us feel confident about the choices we’ve made in life.
The very top level of Maslow’s hierarchy of needs tells us that self actualization is “…the complete realization of one’s potential, and the full development of one’s abilities and appreciation for life”, so with that in mind…
When:
- Food & water is a given, what do you seek?
- Shelter & a good night’s sleep is in the bag, what do you crave?
- Your life is full of cherished friends & family, where do you aspire to be?
- We feel happy about our career prospects & trajectory, what do you long for?
- When awards and certificates adorn your shelves & you’ve made the car of your dreams a reality, what are you missing?
What can we do with our money, to really help us feel like we’re part of something bigger? The answer is simpler than you might expect.
We use it to help others.
It’s a tried and tested methodology. Buffet, Gates, Bloomberg & Bezos & Zuckerberg all lead very separate & individual lives, but they’re linked together by a common thread.
Nope, it’s not the eye-watering amounts of money, but rather what they do with it.
Foundations, charities, endowments & trusts are set up to use the personal wealth of individuals and organisations for good in the world, their efforts united under a philanthropic banner.
The word philanthropy itself comes from Ancient Greek for the ‘love of humankind’.
However, the sheer size of these foundations & the staggering amounts of money involved shouldn’t have to serve as a barrier for anybody.
You don’t need to be a billionaire to be a force for good in the world.
The simplest and most accessible way for anybody and everybody to use their money to help others, is through Pocket-to-Pocket Giving.
By becoming an ESTHER account holder today, you can join countless others in making a real impact in the lives of families & individuals in need.
To take your first step towards reaching your full potential, simply head here.