The following text is excerpted from an article titled “The True Value of Money,” published in Reader’s Digest in 1998.

According to reports from psychologists worldwide, measures of personal happiness hardly change as the national income rises. This finding has led many social critics to maintain that income growth has ceased to foster well-being. A moment’s recollection suggests otherwise. I remember years ago when our car clanked and juddered and limped into a garage, warning lights ablaze. “Threw a rod,” said the mechanic. “Junk her.” I remember interminable trips to used-car lots, sleepless nights worrying about debt, calls to friends about possible leads. Recently, my wife suggested we get a new car. “Great!” I said. “What about a hybrid?”
Money can’t buy happiness, but having money sure takes the pressure off.