Be Careful or You’ll Never Have Enough Money

Don’t fall for the age-old trap

Most people I talk to say the moment they have enough money to sustain a healthy and comfortable lifestyle, they’ll stop working. I feel the same way.

I’ll travel, spend time with family, and do anything I want, instead of continuing to work. I won’t chase money anymore because “I’m not attached to it”.

But that’s easy to say from the bottom looking up. Who’s to say if I ever become a multimillionaire I’d hang up my boots and call it a day? Chances are I wouldn’t.

In his book Homo Deus: A History of Tomorrow Yuval Noah Harari writes:

“The most common reaction of the human mind to achievement is not satisfaction, but craving for more.”

I find this both fascinating and frightening. For pretty much everything in life, when you get something good, you want more of it. But what are the implications when it involves money?

You don’t want to spend your life forever chasing the next financial horizon. More money feels good in the moment, but the pleasure only lasts so long before you want more. And to get more you need to keep running.

But nobody wants to burn their life away only to sit on a pile of money at 75, too old to use it for all the dreams they once had. As Chris Brogan said

“The goal isn’t more money. The goal is living life on your terms.”

I recently came across a few strategies that are helping me be more proactive with ‘living life on my own terms’. Better ways to think about money and not get lost in the chase.

They may help you too.

Find your true source of happiness

“Don’t think money does everything or you are going to end up doing everything for money.” — Voltaire

The desire for money is a game of association. We feel fulfilled and excited when we get more money. But we never actually want the money. We want what it can buy. And for the most part, we don’t actually want to own many things. We just want the joy we get from using those things.

So the trick is to figure out what actually makes you happy. What does your ideal life look like? Of course, you could always get a bigger house, softer bed sheets, and the fanciest toaster. But after a certain point, the added happiness you get from an 80inch TV over a 60inch one is insignificant. Especially if you’re breaking your back at a stressful job to afford it.

Take note of what brings you happiness. Write it down if you have to. Remind yourself each day what you’re working towards, and don’t waste your time on anything else. It’s a lot harder to get lost in the rat race when you constantly remind yourself where your happiness truly lies.

Set yourself up to love the journey

“If the path be beautiful, let us not ask where it leads.”― Anatole France

Success is relative. The personal fulfillment you get from success depends on your perspective. So a helpful strategy is to set achievable goals with milestones. Doing this allows you to celebrate all the victories along the way and enjoy the journey instead of bemoaning what you don’t have yet.

When you fall in love with the process, it doesn’t become about money anymore. You feel fulfilled by the wins and you fight through the setbacks.

In our obsessive wish to arrive, we often forget the most important thing, which is the journey. — Paulo Coelho

How happy you are along the journey depends on your ability to celebrate what’s meaningful now and appreciate every moment as it comes.

You shouldn’t put a ceiling on how far you can go. But falling in love with the process means you’ll stop when the destination isn’t worth the soul-wrenching trip.

Giving back keeps you grounded in reality

“No one has ever become poor from giving.” — Maya Angelou

Don’t wait till you’re rich to start giving back. Whether it’s supporting your brother’s dreams or serving your local community, giving is the best way to keep you connected to what life is about.

I admit. I struggle with this. When I’m trying to save for a car and my children’s future, it’s hard to spend money on others. Surely it makes more sense to wait till I’m in a better financial position before I help others, right?

But if you create a habit of giving back when you don’t have much, it naturally follows you into your financial success. When helping others becomes part of your character, it translates into you being more grounded when you’re wealthier.

With this habit, you won’t get lost in the chase. You’ll reach for the stars but stay rooted in what actually matters.

Besides, what you do and where you go don’t matter nearly as much as who you’re with. Your relationships will give you the most happiness and fulfillment in life. And financially supporting others when they need it is a great way to show how invested you are in them.

The stronger your relationships and your ability to be selfless, the less likely you are to lose sight of yourself.

So what should you do once you have enough money?

Well, that depends on what gives your life meaning. But there’s a quote by Stephen Covey that really resonates with me on this topic. I’ll leave you with it.

“You can retire from a job, but don’t ever retire from making extremely meaningful contributions in life.”