How Much Money is Enough? Ep. 161

Mindset Mastery Moment

Why do we need money? What's it's purpose in our life and how should we view it?

What should be our goal in having or earning money?

Money is just a means to an end, which means the amount of money we need is dependent on what we want to gain with our money. Is it security? Significance? Indulgence?

Can money actually buy us happiness? I think so and I explain why. You'll have to listen, but it's not a simple concept and not as basic as "money buys happiness." Listen.

Money doesn't buy us "stuff," instead it buys us the experiences we hope to gain in having that stuff. Money really does buy us experiences and that's truly where we find satisfaction and happiness. But... that stuff we buy isn't the ONLY way we can experience that same happiness.

Since our happiness comes from our experiences, we change how we view them. When we are intentional about feeling gratitude for the things we experience in life, we find our happiness comes sooner and more often.

The Princeton Study

There is a study which came of Princeton University which indicated most people in America reach a peak level of happiness when they're earning approximately $75,000 per year.

There's nothing magical about that number, but in today's economy, they found this was the amount it took for someone to have all the necessities in life with a little extra for a few of the luxuries we all enjoy.

What's interesting is, the level of happiness seems to plateau at that point. Meaning, if you earn more than $75,000 per year, you don't see your happiness level increase much more.

I dig into this concept much deeper in the episode so make sure you take the time to listen and explore.

How much money is enough? Let's find out...