One of the most popular topics on The Heavy Purse and when I’m invited to speak at public or Corporate events is money happiness. It seems so elusive or make-believe to many. Too often we spend money emotionally, which typically leaves us feeling even more emotional afterwards. Now we are filled with regret, shame and even defiance over the items we purchased as we justify the costs to ourselves and/or others. Few of us have mastered how to use our money in a way that makes us feel good.
It is possible to use your money joyfully, but it does involve a mind shift. We’ve been taught to value things, so we accumulate lots of stuff that only provides short-term happiness. We must instead become mindful of how we spend our money and not view mindfulness as punishment. Mindfulness helps you create the life you want through making value-based decisions that align with your goals, whether you’re spending money on experiences or things.
It is when our spending is out-of-alignment with our values and goals that leads to suffering. It is not telling ourselves “no” or feeling left behind. When we know what we truly want, we recognize that even when we say “no” to a temporary want, we are actually saying “yes” to creating the life we want for ourselves and family. This is an empowering and joyful act.
The Correlation Between Money and Happiness
Can money create happiness? Yes, it can — if you spend it on the right things. Happify created this great infographic highlighting the different ways we use our money and the level of joy it creates.
It didn’t surprise me to see that experiences outrank things. Many readers regularly comment that they value experiences the most as I do as well. I find it interesting that people prefer to spend money on car payments than their home. Car manufacturers and dealerships must do a great job at making cars feel like an experience.
What surprised you the most? What experience or thing brought you the most happiness?
And don’t forget to download my latest Financially Sound Podcast on Financial Happiness and its many benefits on iTunes.