It’s a common belief that money can buy you happiness–at least in terms of feeling financially stable and being able to afford things that give you fulfillment.
But what if the reverse was also true?
Experts note that the happier you are, the more earning power you have.
“Happy people are likable,” said Melanie Musson, finance expert with Clearsurance. “They also tend to be memorable.”
“They stand out. So, when a happy person has a job interview, the interviewer will likely remember them. If a happy person applies for a promotion, their work will have been noticed. Being happy often correlates with having good interpersonal skills, which are beneficial for workplace advancement.“
Read below for more ways happiness can make you richer.
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1. It Increases Your Productivity and Creativity
“In my own journey as a financial advisor, I have definitely found that having a positive attitude and focusing on happiness have done wonders for my professional life,” said Ant Tumi, financial advisor and owner of Loan For Success.
“Generally, happy people are more productive and creative,” he explained. “Positive emotions enhance mental functioning and problem-solving abilities; thus, you will be efficient and creative at work.”
He said this will result in better job performance and can precede promotions and increase your earning capacity.
“Happier people may be more likely to seek out opportunities for skill development and career growth, further enhancing their earning potential over time.”
For this, Tumi recommended setting realistic goals.
“Set real professional and personal goals. When possible, break down big goals into smaller steps or tasks that, when completed, would create satisfaction. Celebrate small successes for a positive boost both in terms of motivation and happiness.”
2. It Helps You With Stress Management Skills
Spencer T. Hakimian, founder of Tolou Capital Management noted that another way to leverage happiness effectively for financial gain, is to focus on cultivating a positive mindset and investing in activities that promote well-being.
“This could include practicing mindfulness or meditation to reduce stress, maintaining a healthy work-life balance to prevent burnout, and fostering strong social connections both inside and outside of work.”
“Building a supportive network and seeking mentorship can also provide valuable career guidance and opportunities for professional development.”
3. It Makes You Better At Networking and Fostering Relationships
“Happiness is the stimulus for great relationships,” said Tumi. “If you are happy, then people find you approachable, and you are better at building and sustaining professional networks.”
“New opportunities and partnerships that may bring in new job offers can only be harnessed through good personal and professional relationships, backed by a sound network.”
Tumi equally noted that a good outlook at work may arise from your core relationships with co-workers and bosses.
“Therefore, you could see a much more supportive work environment, collaboration, and a higher potential for professional growth.”
4. It Offers Health Benefits
Due to its connection to physical health, Tumi said happiness can reduce medical expenditures or substantially reduce absenteeism.
“Inclusively, healthy people are likely to demonstrate consistent work performance, eluding the costs of ill health linked to financial losses.”
He explained that looking after your work-life balance will produce more of these health-related benefits.
“Schedule family time; go out and have fun amongst friends and extracurricular activities. Balance in life leads to happiness and will eventually benefit your organization as well due to good job performance.”
5. It Improves Your Decision-Making Skills
According to Dennis Shirshikov, finance expert and head of growth at GoSummer, happy people tend to make better financial decisions.
“Positive emotions can enhance cognitive processes, leading to more rational and strategic choices,” he explained. “For instance, happy individuals are less likely to engage in impulsive buying and more likely to invest wisely.”
6. It Makes You A Better Negotiator
“Happy people often exhibit stronger negotiation skills and are better equipped to handle setbacks or challenges in their careers,” said Hakimian.
“Their positive demeanor can influence how they approach salary negotiations, client interactions, and networking opportunities, potentially leading to better outcomes and financial rewards.”
He explained that by maintaining a positive outlook and nurturing a sense of well-being, anyone can harness the advantages of happiness to not only increase their earning potential but also to achieve greater overall satisfaction and fulfillment in their professional lives.
You can also leverage positive psychology in negotiations, Shirshikov added.
“A positive mindset can be a powerful tool in negotiations. Approaching negotiations with confidence and positivity can lead to better outcomes, whether it’s negotiating a raise, securing a new job, or closing a business deal.”
7. It Gives You Resilience
Happiness is generally related to more resilient people who cope more with life’s stress, Tumi noted.
“Emotional stability like that enables one to take matters at work head-on efficiently without burnout and, therefore, be more productive towards long-term career success and financial stability.”
According to Musson, you can use your happy attitude and resilience to your advantage by working hard without getting burned out.
“People that aren’t happy are likely to get burned out. Even if they have the same skills as a happy person, they may do or say things when they’re unhappy that hurt their chances of moving up in a company.”
“So, if you’re happy, use that to your advantage and apply for promotions,” she noted. “You may think there are others more qualified than you, but you should still apply. If you don’t make it this time, you’ll take what you learned through the process and apply it to the next time you apply.”
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Source: Forget Buying Happiness: 7 Ways Happiness Will Earn You Money Instead
