You’ve probably heard the expression “money can’t buy happiness” and maybe the witty response that might follow “But it can buy me a boat!” The message constantly being pushed is that if we just had more money, all our problems would somehow disappear and we would be happy. In some cases, such as for the unemployed and under-employed, this might be true. More commonly though, the pursuit of more money leads us into things like:
- More hours spent working
- More money spent on lotto tickets or gambling
- More risk taken with investing
- More dissatisfaction with the way things are now
As a result, the pursuit of “more” risks leading us further away from those things that do bring happiness. It also gets in the way of being happy now. The good news is that there is indeed a link between money and happiness, and even better, it is available now. The key is management.
If you have a reasonable income and you manage your money well, your debts will be under control. Your bills will be paid. You won’t have sleepless nights about how to meet unforeseen expenses.
People who manage their money well don’t need to take senseless risks, can choose how best to spend their spare time, can be generous in giving to others and can enjoy peace and contentment about both where they are financially and where they are headed. It’s not about living on less or feeling guilty about wanting more; but rather, it’s about ensuring you can afford what’s important to you in life now rather than striving to keep up with what others ‘have,’ or always playing catch-up from spending more than you earn.
Try it for yourself. Work out what you need to set aside for bills and desired savings each pay period, then commit to live within what’s left. Put away the credit card and avoid spending your next pay before you even earn it.
Manage that, and as the fog of financial pressure eases, you might just find that happiness was closer than you realised.
by Jeff Lemin
ASPIRE FINANCIAL CONSULTING PTY LTD
Currently running Aspire Financial Consulting Pty Ltd, Jeff has placed among the top 10 financial advisers in Australia and top 5 Aspire Financial Consulting (by AFR Smart Investor Magazine.) If you are looking for professional advice in this area, make an appointment with the team at Aspire who can help you with your financial future.