How Money Affects the Mind

Money is a means of exchange and is a necessary tool for fulfilling our material needs and desires. Without money, there would be a barter system, which causes all transactions to be a double coincidence of needs and an inconvenient way of obtaining necessary goods and services.  Up to a certain point, money is necessary for survival and without it, the economy would crumble. The psychological cons of money are extreme and can undeniably change a person’s behavior in the real world. In the article, “6 Studies on How Money Affects the Mind”, by Jessica Gross, there are key concepts that discuss the effects of money on human behavior. It is important to understand that living life through greed is not meaningful, and there are many reasons why people should change this natural behavior. Additionally, we as Jews should understand that we should hold ourselves to a higher standard because we are the chosen people; as a result, we should set an example for the rest of the world by being generous to other human beings, especially when we are in a place where it is unexpected. 

There are many ways in which money affects the mind, and sometimes we don’t even realize it. For example, there was a study done in California proving that rich people are more likely to ignore pedestrians than poor people. In this study, a confederate videotaped hundreds of cars passing by while repeatedly approaching a crosswalk. He found that the more expensive a car was, the less likely they were to stop for a pedestrian. This study demonstrates that rich people think that they are above others just because they have money and tend to do things for their own self-interest, even if it means breaking the law. The real reason why being wealthy is a blessing is because it provides you with an opportunity to help others in a way most people can’t, and taking advantage of that opportunity is an abomination of G-d’s gift. Additionally, there are psychological studies done that prove helping others brings happiness and joy to your own life. The positive emotions you gain when helping others are unfathomable. Helping others also helps you feel a sense of purpose in life that cannot be achieved by just “being rich”. Another study done to test the effects of money on human behavior was done in 2012. In this study, “households that earned $50,000 to $75,000 gave 7.6 percent of their income to charity, while those who made $100,000 or more gave 4.2 percent”. These shocking results prove that as you grow wealthier, your feelings of compassion and empathy for others decrease. We Jews are required by the Torah to give at least 10% of our annual income after taxes to charity, no matter how much we make. The Torah goes even further to state that if you are not extremely wealthy, it is forbidden to give more than 20% of your annual income to tzedakah. We as the chosen people have an obligation to help others in any way we can. The Torah is a guide to life and the reason God commanded us to help others is because not only does it bring someone else happiness, it also brings happiness for yourself. God knows what’s best for us and we have to trust that everything written in this holy book can be used as a guide to life. Overall, it is important for one to change the greedy behaviors influenced by money because being unselfish in life brings you far more happiness than having money itself can bring. 

Although money is necessary for survival, it is important to understand that it can be extremely harmful if you're not careful. The first study done to test the effects of money on the human mind showed that the richer someone is, the less likely they are to stop pedestrians on the street. Money makes us act in our own self-interest sometimes, but it is important to understand that being altruistic will bring you a lot more happiness than you realize. Another study demonstrated that the more money you have, the less generous you are when it comes to donating money to charity. We as Jews should continue to follow the Torah’s guide of giving 10% of our income to charity because it will ultimately bring us happiness in the long run. Not only that, but we should also hold ourselves to a higher standard because we are the chosen people. To conclude, the more we help other people, the more likely we are to live better lives overall.