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Basic Rules for Financial Freedom: Get in the Wealthy Mindset

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Money and Happiness -- Understand Their Relationship

There are lots of things that will make us miserable -- losing a partner, being made redundant, getting sick. And loads more. There are quite a few related to money and gaining or spending.

Remember

  • Too little money can make you miserable.
  • Too much money can make you miserable.
  • Too much stuff can make you miserable.
  • Not having enough can make you miserable.

I think what we have to grasp pretty well from Day 1 is that money and happiness are not necessarily the same thing. Money doesn't buy happiness. This is a common mistake people make. It isn't going to be one you make. You can be poor and happy. You can be rich and happy. You can also be either poor or rich and miserable.

If you are looking to wealth to make you happy, you'll be disappointed. If you are looking to money to make you more powerful/younger/sexier/more vital/more interesting/better looking/whatever, you're going to be disappointed. Sorry, but money doesn't do any of that. In your head, it might. In other people's heads, it might. But it doesn't in reality. You can be all those things with money; it is true. It isn't money that does it. The switch is thrown in your head first. Money is a placebo, not a cure.

Next: Know the Difference Between Price and Value

From The Rules of Money Copyright © 2007, FT Press. Used by permission of FT Press, and Pearson Education. All rights reserved.

To order this book, buy on Amazon.

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