Think Money Can't Buy You Happiness? Think Again!
There is this misconception out there in the world that money does not lead to happiness.
In fact, there are many doctrines out there that state, having large amounts of money or in other words, being wealthy, will make you miserable. However, if you were to dig a little deeper, you’d find that the people who happen to be wealthy yet unhappy are that way simply because they spend their money on the wrong things (for the most part).
The whole point of working so hard for your money is for you, to be able to enjoy it and live the life of your dreams, whatever your dreams might be. This means, having your money get you the happiness you desire and that is what this blog post is about :)
So how do you get to the point where your money makes you happy?
It all boils down to aligning your dreams with your core values and aligning those core values with your personal finances.
What are your core values?
Your core values are the things that are most important to you and your life. Aligning your dreams to your core values will help you prioritize and identify what really matters most to you and being able to create this alignment is where the magic happens – this is where your money buys you happiness!
For instance, if one of your dreams is to travel around the world, then one of your core values is experience.
If you want to build wealth for you and your family (don't we all) then one of your core values is financial security.
If you want to build a school for less privileged children then another core value of yours is giving back.
Once you've identified your core values, you want to prioritize them in the order in which you'd like to achieve them and you also want to start thinking about what your financial habits are today.
Do your money goals align with your core values?
For instance, if financial security is one of your core values, how much are you saving on a bi-weekly or monthly basis? How focused are you on paying off debt?
If you value experiences, are you in the mall shopping each weekend instead of putting money in your travel account?
Once you've done this self-assessment, you then want to work on creating your goals around your core values and work on adjusting your financial habits according. This is how you align your core values to your money goals.
It's important that the goals you create are specific, measurable and have a timeframe
Below are a few tips:
- Start with your overall long term life and money goals and break them down to mid term goals i.e. 15-year, 10-year and 5-year goals
- Take it a step further and create your short term goals for the next year, the next month and the next week, all of which tie back to those long term life and money goals.
- Go at a pace that you are comfortable with. Identifying and writing goals takes time and that's ok - remember, there are no shortcuts to success. Don't get frustrated. It's too much to do at once, start with your goals for the next few months.
- Keep your goals visible / easily accessible. You've spent all this time identifying your core values and creating this awesome master plan for your life and your money, you need to be reminded of it and motivated by it every single day. Put in on your mirror, make it your phone screen saver, put it on your closet door, keep it visible.
- Find an accountability partner who had been through a similar journey or is going through a similar journey. They will motivate you and keep you on track with your goals.
- Evolve. As your grow and evolve, so might the things you truly value and that's ok. Don't be afraid to repeat the process.
Now who says money can’t buy happiness? :)
Money can buy you happiBola Sokunbi is the founder of Clever Girl Finance and she's passionate about helping women take control of their money so they can live life on their own terms.