There are lots of ways to find happiness. Playing with puppies. Mastering a difficult musical piece. Finally accomplishing a goal that means a lot to you personally. However, I like to talk about money in this space so I’m asking you to consider whether your spending is making you happy.
For the record, I want it said that I don’t believe that spending is the path to happiness. No, no, no… not at all! That way leads to madness. As Dr. Seuss has taught us every Christmas, happiness is not bought at the store.
What I’m suggesting is that since you work so hard for your money, you should only spend it on things that will generate happiness for you. That could be buying an experience that means something special to you. It could be donating money to a cause that you believe in very deeply. Maybe you want to gift something special to someone else, or create a celebration in honor of someone you love very much. True, these things all need to be purchased but they’re not the same quality of purchase as a consumer good that will likely just take up space. Will buying another pair of jeans bring you the same amount of happiness as paying the vet-bill to get your fur-baby the care that she or he needs to be healthy again?
Every penny should be driving your happiness quotient up. If your purchases aren’t doing that for you, then I have to ask you to consider why you’re making that purchase.
Novelty is part of the Happiness Quotient
Every fall, various coffee companies release their version of a pumpkin chai latte. I know that this is a seasonal drink. I also know that a great many people look forward to this time of year. (I’m not one of them, but to each their own.) I can only assume that lovers of the pumpkin chai latte are very happy to have the first one of the season. If they weren’t, they wouldn’t readily spend money on them as soon as the drink became available. However, I’m not as easily persuaded that they are as happy with subsequent pumpkin chai latte’s as they are with the first one.
Once the novelty wears off, is the burst of happiness at their seasonal arrival remain as intense on the last day as it was on the first day?
Personally, I think the novelty factor is one of the reasons why experiences bring more happiness than stuff. Attending a concert with friends – traveling – enjoying a great meal! Think about your most cherished memories where you had to open your wallet for whatever reason. Would you gladly pay the money again?
Of course, great experiences can also be had for free. However, I’m talking about the experiences that might have cost you a little bit of money. Unlike stuff that can disappear into the back of a closet, a storage locker, or the garage, we remember our experiences. They’re special because they are unique to us. They have a personal novelty that is unlikely to be purchased from a retail outlet. The ones we cherish most have that 7-star rating, which will last with us for a very long time. They’re not that seventh pair of jeans that we bought from our favorite store.
Maximize your Happiness Quotient
Since people have to trade their energy and time to acquire money, it seems to me that maximizing happiness from every purchase just makes sense. I’d like to suggest that one of your goals for 2022 is to only spend money if it will make you happy. You should aim to only make 5-star, or higher, purchases at every opportunity. If you don’t feel that the 17th pumpkin chai latte is going to make you happy, then don’t buy it. The beauty of the PCL-season is that it is coming back next year.
To be clear, I’m not talking about spending on survival expenses. Food, shelter, transportation all need to be acquired. Maybe you feel happiness that you have the money to pay for your survival expenses. If so, great! Generally speaking, I’m talking about the joy generated by your disposable income, the money that’s leftover after you’ve taken care of the absolute necessities. Do you feel happiness when you spend that money?
Start by tracking your expenditures, then rate how much happiness they generated for you. One-star for “Not happy at all”. Seven-stars for “Happier than I could’ve ever dreamed!” In my humble opinion, you should only spend money if the purchase will hit atleast 5-stars on this rating scale. Anything less is a waste of your money.
Now, I ask you. If your purchases aren’t making you happy, then why are you making them? Is it just habit? Do you spend to make someone else happy? Have you subconsciously bought into the marketers’ false promise that spending money is the same thing as acquiring happiness?
Sit with yourself for a bit. Figure out if your spending choices are worthy of 5-stars or more. If the answer is “No”, then I want you to think about why that is. Each day, you’re presented with so many opportunities to spend your money. Try this experiment. Before you open your wallet, ask yourself if the purchase is going to make you happy. Articulate what it is that you think the purchase will accomplish – create a forever-memory with a loved one? Fulfill some long-held heart’s desire? Put a smile on someone’s face?
Aim to have the rating last a long time.
This past summer, the gaggle of teenagers who lived next door moved away. I miss them. They were all good kids – friendly, responsible, polite. Also, they would shovel my driveway & sidewalk for money. They were the perfect young neighbours! Mid-November of last year, I went to one of my favourite stores and bought a snow-blower. Believe me when I tell that the purchase of a snow blower rated 6-stars on my happiness scale!
On a good day, my driveway will only take 45 minutes to shovel. Then add on another 10 minutes to do the sidewalk at the front of my house. My snow-blower has cut the total time down to 25 minutes… When I finally get the 100’ extension cord I need, I expect that it will take even less time to do this chore since I won’t have to do the sidewalk with the shovel. My driveway is longer than 50’ so I’m still using a shovel for the last 10’ and the sidewalks.
My snow blower makes me happy because it saves me time on a chore that I really dislike. When it’s -30C outside, yet I still need to clear my driveway, that machine moves snow way faster than I can with a shovel. I also don’t have to worry that I’m re-injuring my wrist or my shoulder. And I’m also making the walking surfaces around my house safer for everyone. The snow-blower has continued to maintain its 6-star rating!
You’re going to be spending money in 2022. You might as well be increasing your happiness quotient while you do so. Make this year the one where you strive to only spend your money in ways that only bring more happiness into your life.