The relationship between motives for making money and life satisfaction: Evidence from 31 cities in China

Despite the obvious power of the money motive, money has received little attention from psychologists' writing about human motivation. Considering China's transition from its high material deprivation of several decades ago to its current rapidly developing economy, this study aimed to examine how the motives for making money affect life satisfaction through the analysis of a sample of 5,911 participants. The results were somewhat different from previous studies: all the basic motives, self-integrated motives, and non-integrated motives for making money were positively correlated with life satisfaction. We argue that, as the tool/drug theory of money states, money gives people immediate reward, like a drug. More precisely, our findings suggest that belongingness and meaningfulness of life mediate the relationship between motives for making money and life satisfaction. Based on the tool/drug theory, money can be exchanged for social status and can be used to pursue social display and social protection. Motives for making money can bring a sense of belongingness and meaningfulness of life in a large pay-disparity context. Together, these findings extend our understanding of the tool/drug theory and the cultural attributes of money. A longitudinal study is urgently needed in the future to explore the duration of the "drug effect."