We hope that you’re having a wonderful holiday season. And if you celebrate Christmas, or any holiday that involves the exchange of gifts- isn’t it so much fun giving presents and seeing the faces of your loved ones light up? And while that might be the case on Christmas morning, it’s a different story later in the day for many adults and kiddos alike. There’s frequently a post present letdown that many of us experience. Either there was something we wanted that we didn’t get, or the gifts that we did receive aren’t quite as awesome as expected. They don’t make us happy and we easily fall into the trap of pursuing happiness in all the wrong ways. Of course on the surface this is something that you already know, but while many of us would say that we agree with this sentiment, we actually end up living our lives in contradictory ways. In this episode we detail some of the different ways that we’re chasing after happiness, but then we discuss two different types of happiness and how we can make sure that we’re pursuing the kind that will last.
- Research – This is often referred to study by Nobel prize winning economists Kahneman and Deaton that shows that additional income over $75,000 doesn’t increase happiness all that much.
- The Wharton study that argues that it’s mostly the control that wealth brings you that ultimately makes you happy.
- More Americans are spending lots of time alone.
- Budgeting/tracking – Start a budget, or at the very least begin tracking with YNAB or Mint.
- And it can be a really great idea to figure out how little it would take to live on with a bare bones budget, if the proverbial ish hits the fan.
- As we’ve talked about before, here’s a stripped down template of our family’s budget in Excel. It may not make sense for some, but I hope it can get most started down the right path! (once you’re in Google Drive, click: File -> download to get the file on your computer)
- And here’s an overview of 4 easy ways to budget that might suit you!
- Money Mission Statement – Check out the worksheet we created to help you create your own Money Mission Statement! Download it, and give it a solid 30 minutes one evening to really begin some soul searching to determine what you want your life to look like.
- Credit Card Tool – Looking for the right credit card for you? Then check out our new credit card tool that’ll help you to easily filter through all the cards based on your preferred airline, whether or not they have an annual fee, or simply by the cash back offer! Just toggle the sliders and you’ll know which card to consider.
- Newsletter – Don’t forget to sign up for the best personal finance newsletter in all the land! It’s completely free and something we create to help you along your journey to financial freedom. It drops every Tuesday morning and you can always unsubscribe if you don’t dig it!
During this episode we enjoyed a Mile High Salute by Mutation Brewing- a big thanks to Jack and our friends there at the brewery! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
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