Chapter 15: Problem 4

Explain how it is possible to have too much money.

Short Answer

Expert verified

The phrase 'too much money' refers to having more financial resources than one can effectively use or manage. Excessive wealth can lead to stress, becoming a target for crime, disconnectedness, and unhealthy behaviors. Moreover, money beyond a certain point does not significantly increase happiness. Lastly, an overemphasis on wealth could detract from other important values in life, leading to dissatisfaction.

Step by step solution

Define 'too much'

First, let's define what 'too much' means in this context. It means an excess, or an amount that is more than is necessary, useful, or desirable. 'Too much' money refers to a situation where a person has more financial resources than they can effectively use or manage.

Disadvantages of too much money

Secondly, let's consider the potential disadvantages of having too much money. Some of these include: Stress and anxiety associated with managing large sums of money; Increased risk of becoming a target for criminals; The potential to lose connection to reality and live a lifestyle that is out of touch with the average person's experiences; The risk of developing unhealthy behaviors or attitudes associated with wealth such as arrogance or sense of entitlement.

The function of money

Thirdly, it's important to understand the function of money. Money is a tool that allows us to meet our basic needs and wants. However, after a certain point, additional money may have a minimal impact on our level of happiness or satisfaction. This idea is supported by numerous studies showing that, beyond a certain income level, additional money does not significantly increase happiness.

Balance in Life's Values

Lastly, having too much money could lead to an overemphasis on material wealth to the detriment of other values such as relationships, health, personal development, and social contribution. This might lead to an imbalance in life, ultimately causing dissatisfaction.

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