Dollars and Sense Ep 42 Can Money Buy Happiness Audio Only

[00:00:00] Scott: On today's episode of Dollars and Cents, we have a philosophical debate about whether money can buy happiness. I say the answer's no. Our two guests are gonna try and convince me otherwise. Let's get into it.

[00:00:22] Hi everybody, and welcome to another episode of Dollars and Cents Hapo Community Credit Union's Financial Literacy podcast. Today we are going to have a philosophical conversation with Sam and Jacob on the topic of Ken Money by Happiness. Gentlemen, welcome to the episode. Thank you. Thank you. Thank you for having us.

[00:00:39] Yeah. So, uh, right outta the gate quick, yes or no answer. Can money buy happiness? Sam? 

[00:00:45] Jacob: If it's black and white, I say, yes, Jacob, black and white. Answer yes as well. 

[00:00:49] Scott: Perfect. I'm gonna say no, that's a wrap. Good episode. Ju no, uh, we're obviously gonna get into it a bit more than that. Yeah. Um, but let's go ahead and drop into that.

[00:00:58] Why do you think, uh, that the 

[00:01:00] Sam: answer to that is yes? I mean, it, it also kind of just depends on your definition of happiness. Uh, but. Just growing up with a, in a, in a, his, uh, sorry, Hispanic household. My father, he came from Mexico, was born and raised over there. I didn't have much growing up. Uh, so when he came to the United States started, his family had us, you know, and he had the money to, to do whatever he wanted to with it.

[00:01:23] He was, he definitely spoiled my family, like my par, my siblings and I, okay. He bought us whatever we wanted, you know, to try to, 'cause he, he didn't, he knew what it was like to grow up not having things, you know, like toys and just possessions. Okay. So. I mean, if you were to ask him, he would definitely say, yeah, money definitely brings happiness.

[00:01:39] He came over here to the United States, started a a career, has his own business now. Okay. And is able to afford, you know, whatever he'd like. He could definitely, he takes. Family on, on trips all the time. We go on family dinners and he pays for everybody. So he would definitely agree that yeah, money can definitely buy happiness.

[00:01:52] I was gonna 

[00:01:52] Scott: say, I was gonna, I'm gonna point out one thing earlier that the first thing you said is he would say that money brings happiness. Oh, yeah. As opposed to buys happiness, which is where I'm gonna get into the, into the debate of it won't be necessarily the money that's buying you the happiness.

[00:02:05] It'll be the item that money gets you, that's bringing you the happiness. That's true. Yeah. Jacob, what about you? Fair. 

[00:02:11] Jacob: Very fair. So, yeah. Yeah. My, my take on this is. I, I see that money, like you said, right? Money can get you the things, the item that does bring that potential happiness. Um, my look and my stance on it is, yes, money can bring happiness in the sense that it's a stress relief, right?

[00:02:29] You're not necessarily going to be worried about. Hey, we have enough funds for, for this. Mm-hmm. Do we have enough or, you know, so I, I believe my stance is on it is you will just be relieved of the stress that comes with maybe not having enough money. Right. So, 

[00:02:44] Scott: okay. So maybe, maybe money keeps, uh, stress and sadness at bay.

[00:02:49] Jacob: Yeah. Yes. Right? Because you're not going to be so. You know, derailed about, oh, I, I, you know, maybe I can't afford it this week. Right. But yeah. 

[00:02:57] Scott: Can I fill up my gas tank just by swiping my absolutely my card at the pump? 

[00:03:01] Jacob: Maybe you're not sitting there thinking about, oh, you know, again, maybe I have to get gas, I have to get groceries.

[00:03:05] No, I just go about my day and, and get what I have to get, buy what I have to buy and shop where I have to shop, and it's, and it's no issues, you know? Mm-hmm. 

[00:03:12] Scott: I was gonna say, that actually is kind of the, the next. Question of this is what is the definition of happiness? Are we talking long-term contentment?

[00:03:22] Are we talking short-term serotonin hits? Um. Before this episode, in fact, some of our listeners may have, may have, uh, seen the, the quick reel that we posted on on Instagram. I just came back from a vacation, which I dunno, seven days in, in Honduras going scuba diving is I, I would consider that in the long run, a short stretch of happiness, but it was absolutely fantastic.

[00:03:46] So research. Uh, my own personal says that, uh, going on vacation brought me happiness and being out, not doing stressful things, hanging out, having, having cocktails on the beach. Mm-hmm. Swimming with dolphins, those type of things. That was definitely fun and I was very happy in the moment. Yeah. But it did require money to, to make that happen.

[00:04:07] Exactly. Um. The serotonin hit thing that, that short term, you guys have probably seen, uh, the videos going around on social media of some of the other podcasts out there where they're using AI to turn the guests mm-hmm. And the host into babies. Yeah. Yes. Now to me, viewing those, that's free. Yeah. Uh, and I absolutely put a smile on my face.

[00:04:28] And my guess is that, uh, our producer Jeff, is gonna do that to all of us here. So as a baby, what would you like to say to everybody? Goo goo gaga. Um, as a baby. What? Hi, mom.

[00:04:44] Yeah. With the, with those, those serotonin hits, we get a good laugh. You get a good. Feeling outta that one. A bit of a rise. Yeah. For free. Yeah. So obviously money isn't necessary. No. Unless you're Jeff, who probably has to spend some a, a short amount of credits on, on whatever tool he's using to create that video.

[00:05:01] Uh, but I think that one's going a lot further as far as the happiness it's gonna generate than, than the amount of money I put into my vacation recently. 

[00:05:07] Yeah. Mm-hmm. 

[00:05:08] Scott: So beyond that short term hit and kind of that long term contentment, where do you think that? This whole buying happiness really settles in.

[00:05:22] That's a really good question. Uh, see, 'cause that financial stability, that contentment, that not, not being concerned about where you're gonna buy something, I feel like that's a long term situation where you're gonna be a lot happier. Yeah. As a person in general. But I feel like you get a much bigger spike out of those short term serotonin hits.

[00:05:42] Sam: Yeah. But definitely a bigger spike for the moment. But does it last as long too? Is is a thing, you know, 

[00:05:48] Scott: it's like drinking a, a very high caffeinated, sugary drink. That burst of energy. Yeah. Yeah. That was, that was exactly 

[00:05:54] Jacob: what I was about to say. It's, I think about it like going to, uh, going to the store, right?

[00:05:58] Getting coffee every day. I know everyone here is my, probably a coffee drinker. Oh yeah. So that, you know, that. Instant gratification of, oh hey, I didn't make coffee this morning. Hey, let's jump in line, let's grab a coffee. You know, that instant gratification does bring happiness, right? Most definitely. If you ask any single one of us in the morning, we're probably all happy after that.

[00:06:16] Oh yeah, for sure. Most definitely. Right? Yeah. Um, but again, it's like, does that fall in line with, well, does it bring happiness? I mean, I consider it. Yes. Yeah. You know, I would consider that. Yes. Um. But see from my side, was that the money 

[00:06:29] Scott: that did it or was it the coffee? Was it the item? Right? And so it's like, 

[00:06:32] Jacob: that's where it goes back to.

[00:06:33] It's all like, well, the coffee, most definitely, right? The coffee is, is is the reason why we got that serotonin hit. The reason why we are happy in the moment. Right? But again, we are going to need funds for that. Right. So yeah, we have to, I always look at it kind of like you said. The long way. The very long way.

[00:06:51] So it's like, yes, instant gratification, most definitely going to bring me happiness. How are we going to sustain that is where we're going to have to come into an agreement, right? Yeah. Of how we're, how we're going to either a, save money, you know, build that as an emergency fund or if. You know, we just keep getting instant coffee, instant gratification every day.

[00:07:09] That's setting us up for failure. You know, that was 

[00:07:11] Scott: almost a faux pot 'cause that was almost instant coffee. And for me, that's not gonna bring as much happiness. No, no. 

[00:07:18] Sam: Yeah. I'm not a coffee drinker myself. I, energy drinks is my thing. So, yeah. But it's the same thing you, I was gonna say, it 

[00:07:23] Scott: gives, gives you that same rush of joy in the morning and makes you a functional adult.

[00:07:27] No, I def, 

[00:07:27] Sam: I definitely agree with what Jacob says, like an instant gratification. It's, it's definitely in the moment. But my whole thing too is, so I, I, I still think, yeah, money can buy happiness. 'cause it's money purchases the things that make you happy. So like it's hand in hand, you know? Yeah. But is it something that we should depend on for happiness?

[00:07:44] I, I think not. That's definitely like a whole other. 

[00:07:47] Scott: I was gonna say, there is an entire, um, other discussion out there about, uh, how much money is necessary to provide that stability and that happiness. And then the flip side of that is how much money then suddenly, uh, decreases. Mm-hmm. Your happiness in the long run.

[00:08:05] Uh, I think the, the stat is somewhere along 3% of lottery winners regret winning the lottery. I've heard that. Mm-hmm. And like, okay, so where, where did this come from? At what point does having too much of something, all of a sudden bring more stress? Uh, taxes. Yeah. Uh, trying to figure out what you're gonna do with all of that.

[00:08:25] I feel like this is one of those questions like, yeah. Oh, poor, poor, rich person. How do you, how do you deal with the stress of having so much? Yeah. 

[00:08:33] Jacob: Right. No, absolutely. And I, I think that is, that is interesting, right? Because again, those people that come into. Large sums of money at a short period of time.

[00:08:41] Right. Uh, lottery winners. Yeah. People that maybe come into, you know, a parent's, um, IRA 401k, right? Mm-hmm. Something like that. Inherit, yeah. When it's something very large and you've never had maybe access to those type of funds, um, you don't know how to spend it wisely, right. How to manage it. And again, I think that goes back to just people getting stuck into that instant cycle, right?

[00:09:02] I mean, if you're saying, Hey, I got. You know, a hundred thousand dollars that you just never had that much funds before. Um, I mean, you're getting something like that, right? That's that's going to, Hey, I can get a new vehicle. I can get a new truck. I can do all this. And before you know it, oh my gosh, we're back at square one.

[00:09:18] Yeah. So that's, that, that is a discussion to have. Right. That is most definitely a discussion to have because again, you were happy making the purchases, you know? Yeah. The purchases most definitely made you happy, but now we're looking at it as. Here are the effects, right? Yeah. Here are the end results.

[00:09:35] Yeah, 

[00:09:36] Sam: because it also, it also depends on just like, again, you as a person, like how are you with money, with or without it? You know? Like, 'cause I, you hear it all the time. Celebrities are, you know, billionaires talking about how money can't buy you everything. Like, I have all of these things, but I still feel like Yep.

[00:09:49] An emptiness inside. Yeah, but it's. For somebody that, that grew up having nothing to all of a sudden have a lot of money and have everything at your grasp that's gonna bring you happiness for sure. It may not last, but it's definitely gonna bring you happiness, buy you the happiness, you know, whereas somebody that's had the money has had everything they ever wanted and needed throughout their whole life.

[00:10:05] It's just, they're used to it. It's, it's nothing exciting for them anymore. So it's, it's just like a, 

[00:10:10] Scott: so that, that. Financial boon that you've gained, giving you a boost up mm-hmm. Out of, uh, a, a situation where you didn't have something Yeah. Into having something. So if you were to already have had those things and gain more money, it doesn't get you anything additional.

[00:10:27] Correct. Yeah. Uh, another one you'd mentioned like billionaires and whatnot, uh, there is kind of a, a statistic because of the, if you get a windfall of money, how well are you, uh, stashing that away? How are you planning for your future? I believe it's, mm-hmm. Uh, a, a relatively large percentage of professional athletes, especially in boxing, if I recall correctly mm-hmm.

[00:10:47] End up broke within five years of their retirement from their, from their sports career. 

[00:10:52] Yeah. 

[00:10:52] Scott: Uh, I know Terrell Owens is, is one that comes to mind for me, not because he didn't do the right things, but he did the right things with the wrong people. Yep. Mm-hmm. He hired a, a friend of his to be a financial advisor and to invest his money from his contracts, and that friend ended up.

[00:11:09] You know, not being the right professional Yeah. Uh, for him and end up taking a bunch of his money and, and running with it effectively, if I recall the, the, the news correctly from when, whenever that was. Yeah. Uh, Jeff, you might know this one off the top of your head producer behind the cameras, when was, uh, Terrell Owens, uh, retirement out of the, the NFL?

[00:11:29] 'cause uh, he played, uh, I want to say in the, in the late nineties, early two thousands say.

[00:11:38] 10. 2010 was when he retired? Yeah. He played his last game in 2010. Retired in 2012.

[00:11:48] Mc Hammer's another good example of those. Yeah, he had a huge music career. And then eventually all the stories of him selling off all of his parachute pants or his big house or whatever it was that he was, uh, auctioning off just to, uh. Get himself back to that stable living. 

[00:12:04] Sam: Yeah. 

[00:12:04] Scott: Uh, which I think that one kind of goes to another one you'd mentioned all of a sudden being able with a windfall of, say an inheritance.

[00:12:11] Mm-hmm. Um, being able to purchase a new car in that one. I think being able to purchase a car outright, you don't have that. I. Continuation of monthly payments on that vehicle. But if you go and, and leverage yourself against all of those assets, and then all of a sudden that income is gone, now you've got your monthly payments that you've gotta go up against and, and you're dealing with a whole heck of a lot more financial stress.

[00:12:35] Yeah, yeah, 

[00:12:35] Jacob: absolutely. And that, and that's, and that's, uh, that is most definitely true. Right. And especially going back to Mc Hammer and you hear a lot of professional athletes, they do. Go broke, right? They come in to contact with taking your friends and family, large amounts of money, right? Mm-hmm. And you hire the wrong individuals, right?

[00:12:50] And I don't know if that comes from a point of not knowing what to do, right? Because again, I mean, if you're hiring a financial advisor, we have to stick to the professionals, right? Yeah. Let's, let's leave it to the professionals for a reason, because you end up in situations like that. Well, hey, if we never came in this con into contact with this amount of funds, I wouldn't know anything about a.

[00:13:08] A CD account I wouldn't know about, you know, a maybe stocks. Yeah. I wouldn't know about stocks and bonds and the other type of avenues that I can explore with this money. You know, saving money and, and watching your money make money. I mean, that brings me happiness. Yeah, for sure. Most definitely. When I, that dividends, 

[00:13:24] Scott: that's another side of this debate where the money itself is actually getting you the happy.

[00:13:29] Yes. Yeah. Because 

[00:13:30] Jacob: watching 

[00:13:30] Scott: that 

[00:13:30] Jacob: savings 

[00:13:31] Scott: grow. Yeah. 

[00:13:32] Jacob: Yes. And that's that. That's another thing, right? That's another thing where you can say, yes, it does absolutely bring you happiness. Again, if you're not familiar, if you're not, you know, if you're not taught how to save, how to use money, how to use your return on investment, right?

[00:13:48] How to get more money out of your money. You're never gonna know. Yeah. Right. So you have to explore. And that's why I say, Hey, leave it to the professionals. Let's get to somebody that understands all of this. You know? So somebody has to point us in the right direction. 

[00:14:00] Scott: Yeah. And for, for people out there listening, if you're looking for the right person, find yourself somebody that is a, uh, fiduciary because.

[00:14:10] Their job is 100%, making sure that, that your money does the best thing for you. 

[00:14:16] Mm-hmm. 

[00:14:16] Scott: Uh, they're, they're less interested in, in, um, whether or not the move that they make is good for them. They're much more interested in whether or not the moves that they're making with your money is good for you. Uh, so for people that don't know the, the fiduciary term, when you start to see that, that's a good thing.

[00:14:32] Yeah. 

[00:14:33] Scott: Mm-hmm. Well, it might be a, a, a little bit of a weird definition or, or word for, for some people who haven't heard it before. Yeah. It's a good thing when you get out there with, with the financial advisors to make sure that, that you're getting one that has your best interest. Yes. At heart, and again, a professional, like you said.

[00:14:48] Yes, 

[00:14:48] Jacob: absolutely. Absolutely. Because again, right. If, if we've never been taught this information right, if we're in the same exact situation as friends, as as colleagues, how can we That's blind leading the blind. Yeah, exactly. You know, we we're, we're not going to benefit each other doing that. So, no, absolutely.

[00:15:04] Sam: Just cause even more stress on top of everything. 

[00:15:06] Scott: All right, so. We talked a little bit about, uh, that short term serotonin hit that you can get, which is kind of like a retail therapy situation. Yeah. Mm-hmm. For sure. Which honestly speaking, I do love a little bit of that myself. Oh yeah. Me, everybody's guilty.

[00:15:19] Yeah. Totally guilty of 

[00:15:20] Sam: that myself. Yeah. 

[00:15:21] Scott: Uh, I'll go out and I'll buy myself. Probably something for the upcoming holiday, uh, to go put on the, on my Traeger and barbecue and invite some people over and be like, Hey, look at this stuff that I've made for all of you to come enjoy with me. And I think that that type of, of situation is, we're all agree that, that, yeah, money, money can definitely accomplish, uh, bringing happiness to either yourself or to a group of people for sure.

[00:15:43] Um, but again, it, it, it's one of those, is it the money? Mm-hmm. Yeah. I think that money. Money mostly takes away the barrier to get the things that make people happy and en and enjoy what's going on. Sure. Um, we do have, uh, one other thing right about now out in, uh, our community, most everybody listening should be aware that graduation is happening.

[00:16:04] Mm-hmm. 

[00:16:05] Scott: Um, we are lucky enough here to have a couple of, uh, students that have returned on their summer breaks that are doing intern work with us again, which is always great to have them back. Um. It reminds me of, uh, an episode we did a while back about financial aid, uh, for, for college. Uh, we did a, we did a podcast episode, uh, maybe a year or two ago with, with Washington State University's Tri-Cities branch, campus financial Aid Department.

[00:16:32] And I think this is another one of those things where I. The money is a pretty important part of being able to afford college and tuition. Mm-hmm. Everybody graduating. I feel like that's one of those things where it's not your money, but it's somebody's money. Yeah. That's definitely helping you gain that, uh, educational background so that you can then stepping stone your way out into a great career mm-hmm.

[00:16:55] To get that life that you're 

[00:16:56] Sam: wanting. Yeah. 

[00:16:57] Scott: So for all the graduates out there, uh, congratulations. And, uh, if you are heading to college, uh, do not, uh, skip out on talking to your financial aid departments because the, the, the finance, the finances that come along with college especially these days are a lot more expensive.

[00:17:11] Yeah. So that's where you're heading? Yes. Go, go check out that episode. Go talk to the financial aid departments. Use somebody else's money. Yeah. Especially if you can get those grants. Yes, for sure. For sure. Yes, absolutely. And I know for me, uh, college was a very fun time. I was a very happy kid in college.

[00:17:27] Um, I. Those environments. I wasn't the one, uh, doing most of the paying for that. I was very lucky my parents did, did most of that. So once again mm-hmm. That, that financial, uh, cushion that I had growing up, where for me, gaining that additional stuff may not have, uh, have brought me too much additional happiness, but probably because I already had that.

[00:17:48] Yeah. 

[00:17:50] Jacob: Yeah. Still though, it's still, it is still, those are still experiences though, correct. Right. Mm-hmm. So it's like, hey, going to college, right. Even whether or not. Whether or not I, I feel like it affected you. Right. It does bring happiness in the sense that, hey, I get to experience, right? I get to, Hey, I get to have my college experience.

[00:18:06] I get to have my fun, and then, hey, I get to still do my work. Right? So it's like, no, no, no. I feel like that is a, is a good point. It's a good, it's a good thing to bring up because again, hey, maybe I didn't look at it in that point of view, but again, hey, it does allow me to get joy, get happiness out of it.

[00:18:21] Mm-hmm. Because again, now I can live my life. Right. Kind. I don't wanna say scot free, but you know a little bit. Well, I can never do anything scot 

[00:18:28] Scott: free. I'm, I'm with me all the time, that's for sure.

[00:18:35] But I, I think that, that, that situation may have informed kind of my opinion where I say that no money, money doesn't buy happiness, whereas. Again, I'm coming from that side of things. That is, well, I had most of these things. Yeah. I had a, I had a pretty blessed upbringing, uh, with my family the way that it was.

[00:18:51] Yeah. 

[00:18:51] Scott: Um, and it sounds like you did as well, thanks to, thanks to your dad's hard work and whatnot, but I think that. Historical vision of, hey, now we have these things he didn't. So you can see that mm-hmm. In a, in a slightly different lens than I did. 

[00:19:04] Sam: Yeah, no, definitely. I mean, even I see even now with my kids, I, I try to spoil my kids, uh, as much as I can too.

[00:19:10] 'cause that's how I was brought up, you know? But it's gotten to a point too, where like my kids now feel like. It's, it's not, it's, it's, it's a necessity when it's not, it's a, it's a privilege to have these things. Right. If I take away my, my oldest son, his tablet, he's like, I haven't, I barely played at all today.

[00:19:23] My good. You don't have to play, you know, this is just because, because I, I allow you to, because, uh, we, we are able to, but it's not a necessity. It's okay. You can go a whole week without using your tablet and you'll be fine. Right. Well, I dunno, but, but again, yeah. It's just. Because of how, how we were raised, how we were brought up.

[00:19:39] You know, again, I, I, I never, you know, thank, thankfully for my parents, they were able to provide us everything we needed. Maybe not everything we wanted, but everything we needed. Yeah. So, when I got, uh, started working and I, I started making my own money, I definitely started buying the things that I wanted, you know, game consoles, my vice is video games.

[00:19:55] That's where I spent all my, my, and so I, I definitely. Get that, that instant gratification, and that lasts me for as long as that video game will last me. Maybe, you know, a few days, maybe a week at, at tops if I'm playing consistently. 60 to a hundred hours. Yeah. Yeah. Depending on the game, right? Yeah. But yeah, because again, I, I do agree that money can buy you happiness.

[00:20:13] I, I grew up happy, but I was able to, to expand that happiness with the money that I made myself to buy stuff. And same thing, I, I get. Happiness. Just seeing my family be happy. Like when I buy my children, the toys that they've been asking for or something that they want and like to see, just to see this like Christmas time, I realized that when I became a parent, Christmas time is no longer about like being magical for you and the gifts for you.

[00:20:33] It's all about like your kids making it magical for them. Seeing their smile on like, uh, Christmas morning, opening up the gifts. Mm-hmm. And I, I get a lot of happiness out of that and I'm able to do that because of the money. Right. So I, if I'm not without the money, I can't purchase the, and that's not to say that they need this stuff again, to, to be happy.

[00:20:48] Yeah. Kids could be happy without things. Like, I've seen plenty of videos on the internet of other kids opening things on Christmas Day and it's like a potato or something. Like, they're like, oh my gosh, I love it. This is the greatest. You know, they're ha completely happy with it. Um, but having money can definitely add on to that.

[00:21:02] Can definitely. I was gonna say, this is, this 

[00:21:03] Scott: is a weird segue, but I also have a, a holiday potato story for you. My, my oldest sibling, uh, who lives down in Portland. Uh, every year they put a potato in the, uh, the candy bucket that they're given to kids mm-hmm. On Halloween. And they've done this for, for a number of years running.

[00:21:22] And there are kids that remember this and they take the potato. 

[00:21:25] Sam: Yeah. 

[00:21:26] Scott: They're excited about the fact that they're the one that's gonna get to take the potato Yeah. From, from the candy. Weird that it's a potato. Yeah. But also very cool that that's the thing that they, you know, their house has become known for having a potato in the candy bowl.

[00:21:40] Sam: Quite a reputation to have. 

[00:21:41] Scott: And, and again, that that's one of those things you're just like, Nope. That, that cost very little. Potatoes are, potatoes are cheap. Mm-hmm. Love potatoes. But that, that being a, a thing that's become more and more of a 

[00:21:53] Sam: memories Yeah. Memories and experiences. Yeah. You know?

[00:21:55] Definitely. No, 

[00:21:56] Jacob: absolutely. Definitely. To piggyback off of that, that's, that's a good thing, right, is 'cause I feel like once you have children, that is when it kind of hits that, hey. Yes. Money can bring a lot of happiness, right? Mm-hmm. It, it brings you the ability to, to buy items that do bring happiness.

[00:22:09] Yeah. But, right. Real, genuine happiness for me, right? Is, is spending time with my family, right? Spending free, spending time with my kids. Spending time with, you know, my, my, my family. So it's, it's very weird because yes, on one flip side, you can say money does bring happiness in the sense that everything that we need to live, to survive requires it, right?

[00:22:28] But again, I mean, going to the park. Watching the stars. Yeah. Mm-hmm. I mean, 4th of July going, I mean, Tri-City natives, right? We know about the, the Columbia River, we know about Oh yeah. The, the show. Right? So I mean, that does, maybe it costs money, right? You do have to pay, you have to pay the general admission.

[00:22:44] Right. But, but again, right. Just things like that. Events as a family, going on hikes, going on walks, going on picnics, right? I mean, we can go down to Howard a Amen and shoot, have a ball, right? Yeah. And then it's like, for me, that's genuine happiness. But again. Going back on it. Hey, Christmas time. Right.

[00:23:00] Opening gifts. Yeah. Watching, watching that. That is also another tablet. Right? I know for sure. Yeah. No, young kids love their tablets, so Yes, absolutely. That is most definitely. Yeah. Because again, 

[00:23:11] Sam: it's, it's experiences and, and, and memories. Like, again, I go back to my kids. I, I love my kids. Sorry, I talk about them a lot.

[00:23:17] Uh, but they can have a blast building forts in our living room, just Oh, yeah. You know, doing that. But again. Like we're, we're planning on taking a trip to Disneyland this, this summer, and we mentioned it to them back in Christmas time. They bring it up every, every time. It's like, are we gonna Disneyland yet Disneyland?

[00:23:31] So obviously, you know, like, again, they could be perfectly happy with just what we have now and just building the memories that way. But you can tell that the, the fact that we're able to provide that trip to them mm-hmm. It definitely adds onto the happiness 

[00:23:43] Scott: that, that build up that, that six month timeline where they get to experience this for a long time.

[00:23:49] Mm-hmm. But then there's some other things. Uh, George r Martin's gonna be a classic example here where the buildup has never paid off. Oh, yeah. Where he hasn't released that last book. At what point in time does it feel like maybe there's too much of that good thing? Like, we talked a little bit about like, when does money become too stressful?

[00:24:07] Mm-hmm. Mm-hmm. Um, how does that work as far as like needing to suddenly manage everything and handle that? Um. Or when does a, a purchase not pay off like you thought it was going to? 

[00:24:22] Sam: Well, I mean, for that last question, I, like I said, my vice is video games. Uh, and I'm, I'm constantly going through like buying new video games even before I finish the new one.

[00:24:32] I, that happens to me quite often actually, where I, and, and video games are getting expensive nowadays. They're like 70 bucks now. You know, I've got a library 

[00:24:39] Scott: of, yeah. Yeah. 

[00:24:41] Sam: So. Those, that those are, that's one example of one of the times, like I've been looking forward to playing a, a brand new video game.

[00:24:47] It's been hyped up for months. You know, I've been seeing the trailers on YouTube and everything like that. I pre-order it so I can access it two or three days earlier, and then I go to play and it's just a letdown. It's like nothing. At all, like what I expected or it's exactly like the prequel was. It's like I spent an extra 80 bucks on this just to play the exact same game with a new title.

[00:25:04] You like it's Yeah, I could have replayed the other one. Yeah, yeah, exactly. You know, it's just, so that's one example of when like you, you build up the height for it, you're waiting for it, and it just turns out to not be what, what you expected. I've 

[00:25:13] Scott: had a couple of games that, that I did that with like a Kickstarter, like an Indi game that I, that I did and waited over a year for it to deliver.

[00:25:21] Mm-hmm. And when it showed up, it was, it was nowhere near ready for release. Yeah. And I was like, oh, okay. I guess, I guess, you know, things like Kickstarter are a little bit of a, uh, gamble to begin with. Yeah. Mm-hmm. Uh, they weren't, they weren't a known quantity to me. I didn't know who the game developer was, but it looked really cool.

[00:25:36] Yeah. And then it showed up and it did not look nearly as cool as the screenshots made It, made it seem to be happens. Happens quite often nowadays. I 

[00:25:43] Jacob: feel like that's, that's a big problem with, with that industry, right? Yeah. The video game industry in general. As of lately has, I felt, felt like that. Right.

[00:25:50] They can and that's what they're supposed to do, right? They are supposed to build it up. They're supposed to make this platform that we are, you know, supposed to be so enthusiastic for, but then we get it and it is a let down. Right? Yeah. I know there's probably been multiple times that I can think of in the last few years.

[00:26:03] Yeah. Last few game releases. Big major ones. Yeah. And it's just, they are let downs, right? Mm-hmm. And it does, and it does suck because again, hey, I'm. I'm happy just kind of anticipating it, you know? So I know for me, it's my own imagination. I'm, I'm, I'm a sports guy, right? Yeah. So there's only one football game.

[00:26:19] There's only one basketball game. And I get in a cycle, uh, every, every year, right. I'm like, oh, you know, I'm, I'm so excited for the game. Get the game. And it is the exact same. So it's, it's, it's a letdown, and I'm like, what am I doing? But again, I, I'm happy when it drops when they first announce it. 

[00:26:35] Scott: Mm-hmm.

[00:26:36] Jacob: Enthusiastic. 

[00:26:37] Scott: Yeah. And you probably still move from the, from last year's version of the game to the new one. Absolutely. And 

[00:26:42] Jacob: no matter what, right. I'll say, Hey, I'm not going to get it. I'm not going to get it. But then it goes on sale. Yeah. All that. Now it goes on sale. Right. So now in my mind, hey 

[00:26:49] Scott: I'm, see they're right.

[00:26:50] There is a lack of money ston or a lack of cost. Yes. Getting you that serotonin hit. Yes. 

[00:26:59] Sam: But as far as having like when you know if it's too much, I think like. Money-wise, if you have a lot of money, if it, uh, again, comes back to just the type of person that you are. Mm-hmm. Um, I know a lot of celebrities, a lot of, you know, um.

[00:27:13] Old a or ex-athletes. Mm-hmm. A big reason that they say that they went broke is because they wanted to help out everybody, you know? Mm-hmm. They didn't manage their money well, they didn't take care of their stuff first. They're like, oh, mom needs a new house, brother needs a, a new car. Nieces and nephews need to go to college.

[00:27:27] Yeah. The heartfelt 

[00:27:28] Scott: story. Yeah. It's like, 

[00:27:29] Sam: of course, like they did it all with good intention, but they forget like nobody's looking out for them. You know? They're too busy looking out for everybody else, but not for themselves, and because of that, they end up losing everything. So I think if you're. Too much of a caring person that can be like, uh, your downfall for, for that kinds of like, if you have, and again, 

[00:27:47] Scott: I think that that's where kind of financial coaching, financial advisors can definitely come in where you have that conversation with 'em about like, Hey, these are the things that I want to be able to do.

[00:27:58] How can I structure, uh, my funding and my investments to help facilitate. Me providing these things. Mm-hmm. It's kind of like, uh, scholarships and endowments. Yeah. Where they do this work. You make this investment into other people, uh, with that scholarship handout. Um, and that fund managed appropriately can then I.

[00:28:20] Basically continually give out that, that scholarship. Yeah. Or, or that, uh, to the people who need it over time, at which point Yeah. You're gonna get that, that great altruistic feeling. Mm-hmm. That serotonin hit of being able to do the right thing. Yeah. But if you, if you work with people who, who know how to make that happen on the long term, then you're good.

[00:28:41] But if you don't Yeah. And you just assume that, you know. Okay, cool. Here, here's a couple stacks. Mom. Go. Go get yourself that, that Bentley or, or whatever. Yeah. Spot. And you're not paying any attention to. What else you're doing, or you're just assuming, well, I'll be able to cover it with the next album release or the next contract, or Yeah, exactly.

[00:28:58] Whatever else. Then, then, yeah. You're gonna, you're gonna run into that, that downfall. 

[00:29:02] Jacob: It is. It is so very true. And it's one thing that I feel like specifically, right. Athletes and people, rappers, right? Musicians, artists, when they come into contact with these money, large sums of money, right? Purchase a house, purchase a vehicle, and it's all like, you have to think of the maintenance, right?

[00:29:16] The upkeep. Mm-hmm. Think of the taxes. Mm-hmm. Hey, I'm what's hot right now, right? Mm-hmm. 30 years, am I still going to be able to pay the taxes on this house? Right. Yeah. That is something that people don't think of long term and it's, you have to be able to afford it after the fact bigger, you have to plan.

[00:29:31] So it's like, yes, bigger you can pay for it outright. Again, how are you going to set your investments up? Well, and I think a 

[00:29:36] Scott: lot of it also comes down to that personality aspect. Rappers want to have that, that bigger than be flashy. Yeah. The, the bigger than life. Uh, flashy thing, because that's gonna get them noticed.

[00:29:46] Yeah. Right. Athletes then do the same thing. Mm-hmm. You don't often hear about athletes. Um, I believe the, the, uh, one of the cornerbacks that got, uh, drafted by, I think it was the Giants, was uh, last name Apple. Um, his mom, uh, apparently kept him, kept him reigning. He lived with his parents, if I remember correctly, for like the first couple of years of his NFL contract.

[00:30:09] Oh, wow. He didn't go get a house. Smart. He didn't go buy a car. 

[00:30:13] Jacob: At that point, the want is gone. Right? So, hey, let's be 

[00:30:16] Scott: logical. Very smart. Very 

[00:30:18] Jacob: smart. 

[00:30:18] Scott: And I think Keanu Reeves is another classic for, uh, for actors. Mm-hmm. As far as living a very, uh, modest lifestyle. He is not out. Running a, a huge, you know, multimillion dollar home in la He's still out doing cool things.

[00:30:33] You get to see the random photos of him. He was at a hotel and somebody's wedding was happening, so he went and actually ended up joining the, the wedding party for no good reason other than for fun. Like, yeah, the, the, the, the more humble, uh, side of it, you don't often see those out in. Out in the, in the public, in mm-hmm.

[00:30:51] In the media. 

[00:30:52] Yeah. 

[00:30:52] Scott: So everybody seems to think, Nope, I need to go buy Yep. The expensive, flashy thing. Yeah. And, and not keep track of it. And, and like an entourage is expensive. Oh yeah, yeah, yeah. 

[00:31:01] Sam: Very paying for everybody's lunches and stuff like that. Very true. You know, and speaking of media, I think social media has a big part in, in, in this whole thing too, like, because of social media, a lot more people believe that they have to have money to be happy, you know, because.

[00:31:13] Social media only shows like the extravagant happy times. Mm-hmm. It's not showing all the work that was put into getting to that point or the downside of having all the, or like the, the, the consequences of not managing your money. All they're showing is just, yeah, happy times. Here, look at me blowing all this money, you know?

[00:31:28] Mm-hmm. Happy times at the club or whatever. But again, it's, it's not showing everything the fuller picture. And I think that's, that's something that people need to realize is they need to look at not just the instant, but the bigger picture of what's happening. Think of the, the long run, basically. 

[00:31:41] Scott: Yep.

[00:31:41] You know. And when was the last time you saw a social media influencer that, uh, did a, a product endorsement? And then you actually saw them utilize that product in any other video they've ever done? Yeah. I, I can't recall one. Yeah, not off the top of my head. I've got one or two that I know I have seen, made like a series of things around, like a series of videos around one item that they got.

[00:32:06] But it's definitely not a, a recurring situation where it's like, Hey, maybe that was literally just sponsored posts one after the next, after the next. But you don't often see them. Being like, oh, hey, I got this thing and it made my life so much better. Oh yeah. And now I'm gonna talk about it as if it's my entire personality.

[00:32:23] And then that, that, you know, endorsement contract runs out. Yeah. And the conversation ends. Now it's on onto the next thing. Yeah, exactly. Yeah. Alright. Uh, do you guys have any other final thoughts for the listeners out there on, uh, money and happiness and the, the intertwining of both of those things? 

[00:32:43] Sam: I guess my final say would be.

[00:32:46] I, my final thought, I'd still think money can buy you hap happiness, but should you depend on it to bring you happiness? No. Money is not the only source of happiness. Mm-hmm. But it could def definitely buy happiness, but you shouldn't depend on it. 

[00:32:56] Scott: I was gonna say, runners will tell you all about the runner's highs your head from that running's free.

[00:33:00] Just go outside. 

[00:33:02] Jacob: Yeah. Okay. So I think my sign off, my farewell piece on this is money can still buy happiness. Yes. Um, again, not necessarily just outright buy happiness, but it gives you the ability to. Get the memories. Yeah. To get the items to go on the trips, experiences give you the experiences. Um, it does, it definitely does.

[00:33:19] Scott: Okay. And I'm gonna stick with my mind and say that money is a barrier to the things that can get you happiness in certain situations, such as paying for that flight. Mm-hmm. Uh, but it is the, the trip itself that brings that from philosophical standpoint, I think we can agree on a lot of the, the statements that Yeah.

[00:33:37] Things cost money. Money is, is a necessity. Yeah. I don't think money is the thing that brings it, but I believe that a lot of people out there are gonna agree with you over me. Uh, which perfectly fine. They're welcome to be wrong. I mean, have their own opinions. Uh, anyways, gentlemen, thank you very much for coming on the episode today and having this conversation with us.

[00:33:54] Of course. Thank, thank, and until next time, this has been Dollars and Cents, Happo Community Credit Union's Financial Literacy Podcast. Until next time.