Your Sherpa daily guidance...Money CAN buy you happiness.
An earlier post talked about a potential virtuous cycle in life…achieve financial goals >> take more control of your life >> realize your full potential. That post emphasized that I was not simply saying “money buys you happiness”. I suggested you Google “bankrupt celebrities” to prove that having a large pile of money did not guarantee happiness or success. That post was more about the need for a personal process to take control of your life and that it is within our grasp to do so.
Let’s circle back and talk more about money and happiness. Money really can buy you some great experiences with your love ones. Money can help you support extended family in need. Money can help you give to those you don’t even know, who have suffered from a disaster or set-back. Knowing you can take care of yourself and family in the future can give you peace of mind and independence and literally translate into less stress and improved health.
So why do so few people devote the time and energy to taking more control of their money, setting goals, and developing the habits and behaviors to achieve those goals? I don’t have an answer to that. My only real conclusion is that it is easier to learn good habits than it is to change bad habits later in life. That is why I focus on helping students and young adults, teaming up with their parents in the process,
Before we wrap up for today, let’s acknowledge that money can have a bad side. What if all you do is focus on money itself? …the size of the pile? …regardless of the ethics or impact of how you accumulated the pile? What if your top priority is making sure others see how much you have? There is clearly a greedy and wasteful potential side.
Rather, I suggest you focus on what is important in your life (what would flash before your eyes in an instant of crisis and near death experience) and consider money as a tool or means to an end in support of what you care most about.