I agree completely with the saying that "Money does not buy happiness."
As a matter of fact, there are many things money can't buy nor are even needed. The wonderful gifts of seeing and hearing were given to me at birth. They were not bought and then given to me. I wouldn't try to do the seemingly impossible and try to put a monetary value on my precious eyes and ears.
When I do speeches about the benefits of money, I don't mention the word "happiness". If I did, I would completely confuse the topic of understanding the benefits of having money.
I have realized that happiness is outside the scope of understanding the growth of money and wealth. I also point out that happiness is a personal emotional experience and that happiness is completely free!
Of course I am aware of the constant messages presented through media that state or suggest that by buying this item or that one, a person will feel happy. It's a myth!
Money is best understood when it's discussed as a tool. The more money one has, the more tools and options one has to respond to life's constant economic challenges.
Let me share an example. Let's say my car breaks down. If I have some money, I can simply buy the new parts and put them in myself. If I have a bit more money, I then have the option of having someone fix it for me. If I have a greater amount, then I may have the choice of buying a newer or a new car and cutting back on the number of times my car needs to be in the mechanic shop.
Another example would be in dealing with the summer heat. If I live in a house without air-conditioning and very limited amounts of money, then I could take a cold shower every night before going to sleep. During the day, I could constantly wet myself with the water hose. With more funds in pocket, I can install an air-conditioner and afford the higher home electric bill. With a great deal more money I can have the entire house cooled with central air-conditioning and I have the added choice of going outside to swim in my backyard pool to stay cool.
Again, as the amount of money one holds, then one has more options to address the issue that eventually come up.
As we teach youth to become socially conscious millionaires, we must help them understand how the amount of money opens up the number of options. The formula is straight-forward; more money, more options.
We learn how to use hammers and forks and we understand how each one of these tools works on different issues. Then one must also study and understand how money, as tools, must also be used correctly to increase our alternatives to deal with the problems we face.