Ep. 120 – Optimize Your Spending to Increase Your Happiness
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One aspect or secret to happiness can be found when we optimize spending— not just spending on possessions or experiences but spending strategically on what truly holds purpose in your life.
It's not about how much money you have, but how you spend it significantly affects your happiness. Research supports the idea that spending money on experiences rather than things leads to greater happiness, as the novelty of new possessions tends to fade quickly.
Additionally, trying to keep up with wealthier peers, even if you're relatively well-off, can lead to dissatisfaction and unhealthy spending habits.
To enhance your happiness and financial stability, align your spending with your purpose and long-term life objectives. This might involve investing in people, causes, or long-term projects you care about.
When we mismanage our money or our spending patterns go awry, we can feel sick and broke. How you spend your money and your physical health can have a strong correlation. When you optimize spending to spend money in a way that serves the purposes you intend it for, you can create happiness as well as financial stability.
Resources Featured in This Episode:
Every Dollar is a Choice: Parenting & Building Families with Conscious Spending
Your Life is Not a Financial Calculator: A Guide to Making Sound Choices