Money CAN Buy Happiness
Money Can Buy Happiness....
As long as you're using your money for things that make you happy without sacrificing too many other things that also make you happy. (Cue Captain Obvious!) Yet I know a lot of people with a decent amount of money that are unhappy, stressed, negative, and NOT living their best lives. So how do you "buy" happiness?
The Psychology of Money
"The highest form of wealth is the ability to wake up every morning and say, "I can do whatever I want today." ~ The Psychology of Money by Morgan Housel.
This book blew my mind - there are so many interesting insights that are based in financial fact and psychological theory. But that quote above - that says it all.
I'm sharing a few lines here directly from the book since he summed it up so well:
'According to Angus Campbell, a psychologist at the University of Michigan, the most common denominator of happiness is simple:
"Having a strong sense of controlling one's life is a more dependable predictor of positive feelings of wellbeing than any of the objective conditions of life we have considered."
More than your salary. More than the size of your house. More than the prestige of your job. Control over doing what you want, when you want to, with the people you want to, is the broadest lifestyle variable that makes people happy.
Money's greatest intrinsic value - and this can't be overstated - is its ability to give you control over your time. To obtain, bit by bit, a level of independence and autonomy that comes from unspent assets that give you greater control over what you can do and when you can do it.
A small amount of wealth means the ability to take a few days off work when you're sick without breaking the bank. Gaining that ability is huge if you don't have it.
A bit more means waiting for a good job to come around after you get laid off, rather than having to take the first one you find. That can be life changing.
Six months' emergency expenses means not being terrified of your boss, because you know you won't be ruined if you have to take some time off to find a new job.
More still means the ability to take a job with lower pay but flexible hours. Maybe one with a shorter commute. Or being able to deal with a medical emergency without the added burden of worrying about how you'll pay for it.
Then there's retiring when you want to, instead of when you need to.
Using your money to buy time and options has a lifestyle benefit few luxury goods can compete with.
The US is the richest nation in the history of the world, but there is little evidence that its citizens are, on average, happier today than they were in the 1950's, when wealth and income were much lower, even at the median level and adjusted for inflation.
Part of what has happened is that we've used our greater wealth to buy bigger and better stuff. But we've simultaneously given up more control over our time. At best, those things cancel each other out.'
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So what does that mean to you? What are you spending your money on? How much of your time and control are you giving up to earn that money?
If you answer these questions honestly, you can clarify what you really want more of. It may be more money. But it is likely something else.
If more money can buy you a personal chef to improve your health, and a housekeeper to clean and do laundry, and someone to drive your kids/aging parents to their activities/appts, and frequent trips that allow you to be present with the people you love - then by all means, make more money!
Anything that improves your health, presence, relationships, or sense of wellbeing is well worth the expenditure.
But if making more money means taking on more direct reports which stress you out, or taking on a role that is more demanding with a worse commute, or seeing the people you love less, or doing the activities you love less, then you really have to consider the tradeoffs.
Most people I talk with never think about what they are using their money for, they just know they need it. There is an internal assumption that you earn money today so you can 1) afford stuff and 2) have it for tomorrow.
I'm all about saving and having a retirement plan, believe me.
But there is a whole lot of life you are missing out on if you are only worried about the future.
Your life is NOW.
Money is meant to make your life BETTER. Is your life better?
I argue that money CAN buy happiness, if and only if, you spend it on things that give you more FREEDOM.
FREEDOM = HAPPINESS.
And we all want more happiness, don't we?
You deserve to enjoy this life you are working so hard for. And only you can decide the best use of the money you are working so hard for.
My goal is to help you find a meaningful balance of financial freedom and personal freedom.
Cheers to creating your happiness,
Sharon
Create More Freedom & Happiness
Defining (and untangling) what you really want in life takes time and focus, which are both hard to come by these days. I can help you get clear on what you REALLY want and remove the obstacles in your way. The first step is to schedule a free, confidential strategy call by CLICKING HERE.
We can decide what next best step will help you get closer to the life you really want (instead of the life you think you are supposed to be living). I will leave you with one concrete action that you can take following the call. And if you are still craving support on what living your life NOW means for you, we can discuss coaching options.
Life is too short to keep putting off what you really want. Don't stay stuck feeling stressed, overwhelmed, and unsatisfied. I've helped so many improve their happiness, well-being, and success because they chose to schedule a call and take one step towards the life of their dreams. I can help you too.
