Recent news reports indicate there are eight men in the world who hold the same amount of money as half of the world. The organization Oxfam reports that in the U.S. 1% of the population controls 42% of the wealth. Some notable names included in this group are:
- Bill Gates, founder of Microsoft
- Warren Buffet, CEO of Berkshire Hathaway;
- Jeff Bezos, Amazon founder, chairman and CEO
- Mark Zuckerberg, Facebook chairman, CEO and co-founder
- Larry Ellison Oracle co-founder and CEO
So you may be saying, who cares? With the beginning of a new year and resolutions that are all but already defunct, it seems to be a universal wish to have more money. If ever you have time to daydream, you may envision a new car, a new house, a Hawaiian vacation, a boat or even winning the lottery. Then when you get back to reality, you really just wish for enough money to buy food, pay the mortgage or rent payment, pay the utilities, pay the car payment and insurance, pay for health insurance and medications, and ultimately be able to pay for your ever day living expenses.
So does money buy happiness? I found a good blog from The Huffington Post at that says the answer is complicated. That sounds like a law school answer to me. It depends on a variety of factors like if you live in a rich nation or a poor nation but overall yes more money can make you happier. A universal truth seems to be that if you can meet your basic needs, you are happier than if you cannot. If you have trouble paying for everyday living expenses, come talk to us. You may have had some bad luck with a job loss, death in the family, unexpected expense. Our office offers a free consultation to discuss your options to obtaining your fresh start.
Heather Ellis Banks is an Associate Attorney at the Bond & Botes Law Offices in Knoxville, Tennessee. She holds a Bachelor of Science from the University of Tennessee Knoxville, and a Juris Doctorate from the University of Memphis, Cecil.C. Humphreys School of Law. She has been helping consumers to navigate through the bankruptcy process since 2005. Read her full bio here.