His creature, the theory called “hierarchy of needs”, identifies different determinants of happiness (Maslow et al., 1998).
The theory shows us personal needs as a pyramid structure with three main types of needs: basic needs at the bottom, psychological needs in the middle, and self-fulfillment needs on the top.
In case most of the needs of the second sector are met, it is the time for the person to reach the goals of self-fulfillment like fulfilling your unique potential including creative activities.
According to Maslow’s theory, money does buy happiness in case if you are living in the poverty and your main goal is to satisfy your ground needs, however, money cannot guarantee for 100% achievement the highest levels of true happiness (Maslow et al., 1998).
Basic needs include all physiological and safety requirements such as food, water, rest, personal security and safety.
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Indeed, financial wealth is the best way to fulfill all these requirements.
Money cannot fill the new house with a lovely family, concert with no friends aside is not so enjoyable and traveling alone will not bring you happy memories.
Different studies confirm that people who make ,000 a year, consider themselves as much happier than those who make ,000 a year.
To sum up, purchasing goods will only result in a limited amount of satisfaction, but true happiness can be reached even without financial wealth.
Money cannot buy happiness because the most valuable things in life, such as friendship, love or happy memories, cannot be bought with money, they have to be earned.