In all honesty, I’d much rather have *the money* and spend the rest of my life as a full time student, but eating at good restaurants, than a wage slave for corporate America.

A very good question. Though it is my resolution, I have never thought of it as a goal. It is more like a guide. When it comes to important decisions I take an utilitarian approach of the sort. I look at the intrinsic benefits compared to consequences.

Will I be happier or as happy if I do X or Y? It may seem a bit simple, but there is more to it. I include my personal morality into the equation, as it one of the most important things to me.

If X or Y involved me making a concession of personal morals, it wouldn’t result in me being happy.

So rather than making an arbitrary goal with the hopes of becoming happy (losing weight, making more money, etc.), I just seek to be happy. While I might think making $10,000 on the side will make me happy, I try to take in all the factors. Is it worth the extra stress and time away from my family and loved ones?

So in short, I don’t have a tangible way of measuring it. But I guess that kind of make sense since happiness isn’t something that is tangibly measurable.

I hope all that made sense, and sorry for going off on a tangent, lol.

Derek, I am curious if your goal is to be happy, at the end of the year how will you know if you have achieved it?

I have never been materialistic, but because of this jerk, I’m bankrupt and have nothing to show for it at age 46. He even managed to spend our retirement fund.

I’m not materialistic, but right now I’m feeling a bit cheated and frantic. I’m much too old to have to start over from scratch.

Unfortunately, this attitude also got me into trouble in my dumb underpaid youth. Money? Why worry about that? I’m having fun right now!

I have met many people who had money but their health failed and no amount of money could save them. Health is wealth. Many other people have money but their relationships are a disaster. They are not happy in their lives.

Money is great, as a tool. But having a balance in life is really important.

You are so right… True wealth is about happiness.

Thanks,

Mark Nolan

The problem is that the type of person who is driven and ends up with a ton of money is also the type of person who can never sit back and relax. I’m not going to work 80-hour weeks and kill myself to become rich, but if the money magically appeared, you can bet I’d be happier.

It’s also in how you use money habitually. Someone who sees money as a way to support a lifestyle that involves more time with family and friends is probably going to be happier than someone who just sees money as a way to acquire the latest doo-dad.

I still worry about money even though I have had a good career, a paid off mortgage, college tuitions paid and savings- and decent health insurance that will always be with me(unless the Fed. govt dissolves and then we are all screwed). I am not acquisitive but worry about my son who has a disability and will likely never be able to fully support himself. I am working on getting beyond the worry though.

This has to be the most important thing that everybody misses: lifestyle inflation. Just because you have more money does not mean that you have to spend more money.

Funny thing. I come to realize that financial wealth has a lot to do with personal development and knowing what you want.

Most people don’t know what they want in life. They do not know what they want to accomplish or what their goals are. Lacking that information, many make poor financial decisions by simply doing what everybody else is doing.

Essentially, being wealthy has less to do with money but more to do with awareness of yourself. If you want to start on a financial journey, you first have to start on self-exploration journey.

Money is a side effect of your life, money is not the cause. Life is ironic, but if we focus on money in our life then we will remain poor, but if we focus on ourselves and others our life will be abundant and fulfilling.

Best,
Tomas

Money is not complicated. It is plus and minus.

People make it complicated. Usually for their own benefit in helping you un-complicate it.

Live your life simply. That does not mean boring. but simply. With purpose.

Don’t dismiss your future, but don’t sacrifice your present for it either. Don’t automate your life away either.

Pay attention. To your finances. Your expenses and assets. Your debts. Your priorities. Your experiences. And to your life.

Live your life slowly.

This post really gets to the bottom of everything in life, not just personal finance – happiness and experiences. I am very guilty of oversaving and I am still trying to balance my money a bit more and I always find your posts to be timely and relevant.

THANK YOU SO MUCH!

I do have to say though that once having lowered your expectations and simplified your life, in order to enjoy social capital, you need to find like-minded friends. Because for those folks for whom appearances are of paramount importance, your modest home or lifestyle may not be de rigueur.

“I do nothing but go about persuading you all, old and young alike, not to take thought for your persons or your properties, but and chiefly to care about the greatest improvement of the soul. I tell you that virtue is not given by money, but that from virtue comes money and every other good of man, public as well as private. This is my teaching, and if this is the doctrine which corrupts the youth, I am a mischievous person.” ~ Socrates

Regarding the original post, J.D. has put it very nicely as usual. I would like to point out that the title is:
“it’s more important to be happy than to be rich.” The title is not:
“it’s not important to be rich”
or even
“it’s not important to be rich as long as you’re happy.”

So for those readers who are seeing this as
“you should concentrate on being happy, not on being rich,”
maybe you could try instead to look at it as
“don’t try to be rich at the expense of being happy.”

A funny thing I’ve noticed is that many people, when asked what constitutes “happy,” will have similar answers; but no one has the same definition of “rich.”

Great post

Cheers!