We often hear (and believe) that money cannot buy happiness. Of course, we all require financial resources to meet our basic needs for food, clothing, housing, and other requirements. By nearly any measure, having money is preferable to having none. But how much money do we need?
The answer is different for everyone, as it is for many things in personal money management.
An obsession with money has an impact on all of your choices and decisions. This is not the way to live, as you will discover.
If you find yourself in this scenario, keep in mind the following statement: “Money is significant in some elements of your life, but not in others”.
What’s More Important than Money?
Nothing is truly as important as our health. We all wish we had the same amount of energy when we were ten years younger. Even though we are aware that our health is deteriorating over time, we rarely do anything to slow down this process.
Just ask the countless people who have lost loved ones from dire neglect of health – those with fathers who worked themselves to death and suffered from obesity or chronic disease.
Taking care of our health is the most essential thing we can do for ourselves. This involves getting enough exercise and eating a well-balanced diet.
If our health is like a structure, our family is the foundation that keeps it standing. Many of us take it for granted, from our mother’s unconditional love to our spouse’s constant emotional support.
We need to tell our loved ones how much we appreciate them and how much we care about them regularly. We should also go out of our way to assist them since this will help to keep the family link strong.
#3. The Present
Some of us believe that money equals happiness, yet many of us take this belief to its logical conclusion and miss the point. What happens is that, without even realizing it, we compromise our health and family to pursue prospective wealth-building prospects. Even worse, you miss out on the precious moments in the here and now by focusing too much on the anxieties and fears of tomorrow.
It’s worth pointing out that working excessively is a common example of this. When you work too hard, you sacrifice valuable family time as well as your health by spending less time relaxing and resting to get ahead.
Money is merely a tool to help us live our lives; it is not the source of our joy. Concentrate on being happy in the present moment, and you’ll see that money isn’t as vital as it once was.
Obesity is a monstrous plague to society that has gradually grown to span many developing and developed countries. Malaysia is one such nation, with the highest prevalence of obesity among adults in South East Asia according to the 2019 National Health and Morbidity Survey.
Excess body weight is also a primary cause of a variety of health problems faced by many people.
We all understand that being overweight is not a good thing. When we’re anxious, down, or in a funk, food is a natural remedy. Unlike illegal narcotics or alcohol, food is a simple approach to self-medicating when we’re feeling down.
There’s a reason it’s called comfort food. Many of us are unaware of the impact our diets have on our overall health.
#5. A legacy
Have you considered the type of legacy you want to leave? Let’s avoid discussing a financial legacy for the time being. What would you prefer to be remembered for if you had a choice? What will you leave behind as a legacy for others to see? The legacy of many parents lives on in the lives of their offspring. For many parents, passing on their ideals and providing children with an education cement that heritage.
Others are passionate about a particular cause, such as breast cancer research, assisting abused children, or another worthwhile cause that improves people’s lives. I know people who have written their life’s manifesto and left it for posterity. It’s a source of inspiration and guidance for their children, friends, and others. By definition, a legacy is something that lasts a long time.
It takes time to plan something that will last a long period. It takes time to grow and shape into the person we want to be. It has to be deliberate. Our legacy will be shaped by our values.
They determine who we are and should serve as a direction for all of our decisions. Of course, if someone has a lot of money and wishes to leave a financial legacy that reflects their principles, they should utilize it for that. Construct a new wing for a children’s hospital. Establish a scholarship fund for children who cannot afford to attend on their own. Even without wealth, we can build an altruistic or generous legacy in nature.
6. Charity funds
Most of us are unable to contribute to the construction of a new wing at a children’s hospital. Consider contributing to a charity fund regularly. The funds allow you to make small donations at regular times throughout time to build up a fund.
You can have them send the money to the charity of your choice when you’re ready to give. Charity funds are available through public foundations, several colleges, and community foundations.
It is not necessary to be wealthy to leave a significant and lasting legacy to future generations. You should consider and prepare for how you want to be remembered.
If you live long enough in a sprawling city or suburbia, you’ll notice a pattern. The anxieties and stress of high-functioning working adults are prevalent. Some of them drive flashy cars and own lavish homes, yet they are somehow the most miserable individuals in the world.
In contrast, some people are completely content with very little. Think of spiritual figures or that old nice couple that lives a few blocks down wherever you are.
Contentment and money are two very different concepts. Our self-worth will improve if we focus on things like keeping healthy, nurturing relationships with family and friends, using our time wisely, continuing to study, and leaving a legacy. This in turn leads to overall contentment.
Money plays an important role in the journey. Money is merely a tool for achieving a goal. We’ll be in big trouble if it gets any worse. If the goal is to gain more of it, it may interfere with our ability to have healthy relationships, eat well, or exercise.
Respect is something that we all desire in life. You are free to have any amount of money you like. But what good is all that money if you’re not regarded by others – or if you don’t respect yourself?
Philosopher Alain De Botton often talks about the intrinsic human need for acknowledgment and respect, which ties into the need for more money as a symbol of social stature. In this regard, when someone shows off their abundance of wealth, it may be a cry for attention – a subconscious desire to be recognized and respected.
Furthermore, respect is something that cannot be purchased. It is something that is effectively developed through behavior – in the way we interact with others, or what we can do for others which reflects true character.
As a result, respect is far more valuable than money.
On the other hand, self-respect is associated with feelings of trust, safety, and well-being. This is due to the perception of worth or personal value that others have placed on you.
“People Will Respect You Only If You Respect Yourself First”.
Respecting yourself entails being truthful, paying attention to others, and holding yourself accountable. It also entails surrounding yourself with individuals who are happy and encouraging. Above all, it’s about treating others the way you want to be treated. In short, if you want to be a happy and successful person, you must respect others.
#9. Mental Strength
Mental toughness also allows you to learn from your failures.
When you need to recover from a setback, mental toughness comes in handy. Mental toughness can also help you control your emotions. You will face difficulties and setbacks throughout your life. To tackle these challenges, you’ll need mental power far more than money.
To stay alive, we need money. Food, shelter, clothing, and the necessities of life are all required. That will cost money. We must work to support ourselves. The cost of living varies greatly depending on where we reside.
Having work that earns a decent wage is critical to our financial well-being and many other aspects of our lives. Self-esteem is boosted by being able to provide for oneself. Self-esteem is built on the foundation of education. We get confidence when we have high self-esteem. Our chances of success enhance when we have confidence.
Our critical thinking skills are enhanced by a decent education. We can make better decisions when we can think critically. Better decisions result in better outcomes. And education should not end when we graduate from high school.
Money can buy you many things, which in turn can make you happier. Security, entertainment, stability, and status are all important and to an extent are purchasable.
However, the nature of money is that it will consume you if you do not have clear objectives and visions pegged to the reason for acquiring wealth. Being rich for the sake of being rich, is one of the most potent traps in this day and age