Money talks. We’ve all heard that. But usually, it’s whispering things that keep us up at night or shouting over our better judgment during a mid-life crisis. When people bring up the phrase for the love of money, they usually think they’re quoting the Bible. They are—sorta. The actual line from 1 Timothy 6:10 is "For the love of money is a root of all kinds of evil," but over the centuries, we've hacked it down into a catchy shorthand for "greed is bad."
Except, it’s not that simple.
Is it the money itself? Or the love of it? There's a massive difference between wanting a 401(k) so you don't have to eat cat food at age eighty and being so obsessed with a balance sheet that you forget your kid's name. We live in a world where "hustle culture" is basically a religion, yet we’re simultaneously told that wanting wealth makes us shallow. It’s a weird, hypocritical tug-of-war.
Honestly, the way we talk about wealth is broken.
The Psychology of Why We Chase the Bag
Psychologists have been poking at our brains for decades trying to figure out why some people stop at "comfortable" while others keep grinding until they drop. There’s this concept called the Hedonic Treadmill. Basically, you get a raise, you feel awesome for three weeks, and then that new salary becomes your "new normal." You need more. Always more.
It’s a chemical loop. Dopamine hits every time the number goes up.
Professor Leaf Van Boven from the University of Colorado Boulder has done some pretty famous research on this. He found that people who value "materialistic goals" (literally doing things for the love of money and the stuff it buys) are generally less happy than those who value experiences. Why? Because you can’t "adapt" to a memory of a sunset in the same way you adapt to a BMW sitting in your driveway. The car just becomes a hunk of metal after the third month. The memory stays shiny.
But let's be real for a second. Being broke is stressful. It’s physiologically damaging. A 2010 study by Princeton researchers Daniel Kahneman and Angus Deaton famously suggested that happiness levels out around $75,000 a year (in 2010 dollars). After that, more money doesn't necessarily make you "happier" on a day-to-day basis, though it does increase your overall "life satisfaction."
Updating that for 2026 inflation? That number is closer to $115,000 or $120,000 depending on where you live. If you’re making $30k, yeah, you should definitely be chasing more money. That’s survival. It’s when you’re at $200k and still crying because your neighbor has a bigger boat that the "love of money" starts to look like a clinical diagnosis.
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When the Love of Money Hits Pop Culture
Think about the song "For the Love of Money" by The O'Jays. You know the one—the funky bassline that became the theme song for The Apprentice. Most people hum along to the "money, money, money, money" part and miss the actual lyrics.
"For a small piece of paper, it carries a lot of weight."
The song is actually a warning. It talks about people stepping on their own mothers for a dollar. It’s a soul-music critique of how capitalism can strip away humanity. Yet, ironically, it became the anthem for a show about cutthroat corporate climbing. That’s the perfect metaphor for how we view wealth: we acknowledge it’s dangerous while simultaneously using it as a soundtrack for our success.
We see this in the "FIRE" movement (Financial Independence, Retire Early) too. Some people in that community are incredibly disciplined and healthy. Others? They’re so consumed by the love of the number—the "Net Worth" figure—that they live in squalor for twenty years just to see a digit on a screen.
Is that freedom? Or just a different kind of prison?
The Dark Side of the "Greed is Good" Myth
Remember Gordon Gekko in Wall Street? "Greed, for lack of a better word, is good." That movie was supposed to be a cautionary tale. Instead, it inspired a generation of traders to ruin the economy in 2008.
There is a legitimate neurological shift that happens when people focus too much on financial gain. Studies in the Journal of Personality and Social Psychology have shown that people who are primed to think about money become less helpful to others. They’re less likely to donate to charity or help a stranger pick up dropped pencils. Money makes us self-sufficient, but it also makes us solitary.
It’s a trade-off.
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The more you focus on the "love" part—the emotional attachment to the wealth—the more you isolate. You start seeing people as tools or obstacles rather than humans. We’ve seen this play out in corporate scandals from Enron to the more recent crypto collapses like FTX. It wasn't just about the money; it was about the status, the power, and the ego that money validates.
The Difference Between Utility and Obsession
We need to get better at distinguishing between "money as a tool" and "money as an identity."
Money is an incredible tool. It buys time. It buys healthcare. It buys the ability to tell a crappy boss to go jump in a lake. That’s utility. When you pursue wealth for those reasons, you’re usually fine. You have a "why" that exists outside of the currency itself.
The trouble starts when the money is the "why."
If you asked someone, "How much is enough?" and they can't give you a number, they’re in trouble. They’re caught in the "love" trap. Because "more" isn't a destination. It’s a horizon that moves away as you walk toward it.
Signs You’ve Crossed the Line:
- You measure your self-worth by your quarterly earnings.
- Your relationships are suffering because you’re "always on."
- You feel a physical sense of panic when you spend money on things you actually need.
- You’ve stopped having hobbies that don't have a "monetization" strategy.
How to Fix Your Relationship with Wealth
You don't have to take a vow of poverty to avoid the pitfalls of doing everything for the love of money. You just need boundaries.
First, define "Enough." Sit down with a calculator. What does your ideal life actually cost? Not the Instagram version with the private jets, but the one where you’re comfortable, safe, and can afford a nice dinner out once a week. Once you have that number, anything above it is just "extra." It shouldn't cost you your soul or your sleep.
Second, practice "Tactical Generosity." It sounds counterintuitive, but giving money away is the best way to prove to your brain that it doesn't own you. When you donate or help someone out, you're breaking the power that "accumulation" has over your psyche.
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Third, audit your time. If you’re working 80 hours a week to buy a house you’re never in, you’re losing the math game. Time is the only currency you can't earn back. Even Warren Buffett can't buy more minutes.
Actionable Steps for a Balanced Life
Don't just read this and go back to refreshing your brokerage account. Try these shifts:
1. The "No-Monetization" Hobby
Pick one thing you do purely because it’s fun. Don't start an Etsy shop for your pottery. Don't start a podcast about your jogging. Just do the thing. This protects a corner of your brain from the "market value" mindset.
2. Automated Giving
Set up a recurring donation to something you care about. Make it enough that you actually notice it leaving your account. This creates a "scarcity" reflex that forces you to realize you can survive—and thrive—with less than your maximum possible income.
3. Value-Based Budgeting
Look at your bank statement from last month. Circle the things that actually made you happy. Put a box around the things you bought because you were stressed, bored, or trying to look "successful." Cut the boxes. Double down on the circles.
4. The "Enough" Number
Calculate your "Freedom Figure." This is the amount of money you need to cover your basic expenses plus a few joys. Once you hit that, start trading your extra productivity for time instead of extra cash.
The goal isn't to hate money. Money is great. It's awesome. But for the love of money to be a healthy thing, it has to be a secondary love. Put your health, your people, and your time first. The irony? Usually, when you stop obsessing over every penny, you actually become better at making it because you’re making decisions from a place of logic rather than desperation.
Stop running on the treadmill. Just walk at your own pace. The view is better anyway.