Money is Weird

Dave Hutchison, CFA |

Money is weird. It can buy some happiness for sure, despite the famous saying.  More time with family.  Keeping a roof over your head, food, security.  But we’ve seen abundant money lead to just the opposite as well.  Some feel loved only for their money.  Others turn to substance abuse.  Excessive money becomes a curse.

This article asks – how can you use your money to maximize your happiness?  Interesting points: if you can afford it, outsource time consuming tasks to “buy” more free time – but then use that time to do things that make you happy, talk to a friend for example.  Couldn’t agree more – spend more time with those you enjoy!

A related concept is reactance.   In other words, do you feel that your time is under your control?  You could be an unhappy but rich investment banker, or a happier but less wealthy artist.  In his book The Psychology of Money, Morgan Housel says, “aligning money toward a life that lets you do what you want, when you want, with who you want, where you want, for as long as you want, has incredible return.”  We think he’s right and that far too many people don’t live their life like this.