Hello, Sign In

The Balance between Happiness and Money – Research Guider

The paper 'The Balance between Happiness and Money' is a marvelous example of a research proposal on family and consumer science.
Statement of the Problem:

The paper revolves around the problem that it is important to maintain a balance between marital relationships and financial stability. It has been figured out by different researchers that money is the main source of dissatisfaction in many families which ultimately leads to divorce (Dakin and Wampler, 2008). Many couples or families consider their financial stability as a tool to maintain their marital affairs normal. However, on the other hand, Bucks et al. (2009) state that financial condition of American families has changed drastically since 2004. The debt liability has risen to great heights with an equal rise in consumer loan interest rates.

Delineation of the Problem:

The article of Bucks et al. (2009) states that the rate of change for different income families has differed greatly which has influenced the distribution of income. They have used demographics and the various demographic shifts to analyze the family income and the total net worth. Through the research, it was found out that the family income of inflation-adjusted families has changed insignificantly. On the other hand, it has affected the median income families to a little extent during 2004-2007. The overall financial stability of the country indicated that the income of different ethnic groups has increased significantly high while, leaving the others to unemployment. However, Dakin and Wampler (2008), highlight the major financial statistics by evaluating 51 low income and 61 average-income families along with various demographic variables and as a result, they concluded that financial stability is a key maintain one’s marital life. They found out that most of the families are engaged in full-time employment with sound education which has kept their marriage stable. They also discovered that major financial setbacks can overall affect the social, psychological and emotional phenomenon in the groups.

Aspects of the Problem to be Discusses:

Aspect 1: It is hard to maintain a balance between money and happiness but it helps in bringing marital satisfaction, removing the psychological distress and maintaining the demographic differences between the middle and low- income couples.

Aspect 2: The other aspect of the problem is the income status of a couple which defines the role of income in balancing the marital relationship of a couple.

Development of the Problem/ Review of Literature:

Aspect 1: It is hard to maintain a balance between money and happiness but it helps in bringing marital satisfaction, removing the psychological distress and maintaining the demographic differences between the middle and low- income couples.

The article revolves around the basic idea that monetary issues contribute to increasing divorce rates. The article further states that couples who are dissatisfied with the financial situations are more likely to end their relationship in a divorce. Economic instability may strain their marital relationship or in some cases, couples may experience an evident decrease in warmth and affection. On the other hand, it has been observed that economic hardship may enhance the personal suffering within a couple. It can destroy the self-image of an individual within the marriage. Some people think that stability within a marriage can only be maintained by increasing the income, however; most researchers thought the other way. At the same time, researchers have argued that how gender plays a crucial role in money management and reasons for looking out for divorce; they have stated that men are more likely to find more reasons to get divorced as compared to women. Men are more tied to economic strains and their effect on marriage than women.

Aspect 2: The other aspect of the problem is the income status of a couple which defines the role of income in balancing the marital relationship of a couple.

This article revolves around the study that explores the financial stability and its effect on couples with middle and low-income scales. The article further states that with an increase in the financial holdings of the couples, the inflation has also increased which has affected different groups in a different way. For example, it has deeply affected the white groups but it has merely left an impact on Hispanic or Anglo-American groups. The article further explores that the higher the income of a group would result in higher satisfaction among families despite inflation.

Summary and Conclusion:
Summary:

The summary of the above-mentioned articles lead to an understanding of the critical importance of financial stability and its role in balancing the marriage and happiness. Researchers have sought that financial stability is closely interlinked with the happiness and well-being of the family as well as the marital couples. It can either strengthen the relationship or it can damage the entire fabric of marriage. Increased income and sound money management can balance the relationship. On the other hand, the recent changes in housing and credit markets have given a major setback to the financial health of the majority of American families.

 Synthesis and Conclusion:

It can be concluded that money cannot play an important role in balancing the happiness in marital couples, however; financial stability can lower the stress, improve the psychological frustration and it can maintain the financial health and well-being of the family. Researches have also discussed that an increase in debt and financial liabilities may affect adversely on the overall health and status of any marital couple. Debts act as a lifetime burden on marriages and it can be one of the factors affecting the dissolution of the marriages. It has been found that communication, sound money management, marital disturbances, and familial relationships can affect the psychological health and emotional balance in a couple or a family (Conley & Ryvicker, 2005).

Further Research:

The topic under research is comparatively new and it requires some more research and thorough studies to analyze different income patterns and its effect on different marital relations to devise different results. It is also important for the researchers to devise different methodologies and strategies to analyze different behavioral patterns in a couple and how they are affected by the financial instability. It can be only possible by interviewing the selected groups from different ethnic backgrounds, education, professions and areas (Lerman, 2002).

 



References

Bucks, B., Kennickell, A., Mach, T., and Moore, K. (2009). Changes in U.S. Family Finances from 2004 to 2007: Evidence from the Survey of Consumer Finances. Federal Reserve Bulletin, vol. 95, pp. A1-A55

Dakin, J. & Wampler, R. (2008). Money Doesn’t Buy Happiness, but It Helps: Marital Satisfaction, Psychological Distress, and Demographic Differences Between Low- and Middle-Income Clinic Couples. The American Journal of Family Therapy, 36, 300-311

Conley, D., & Ryvicker, M. (2005). The price of female headship: Gender, inheritance, and wealth accumulation in the United States. Journal of Income Distribution, 41-56.

Lerman, R. (2002). Impacts of marital status and parental presence on the material hardship of families and children. Demography, 44 (3)

Contact Us