Life is funny isn’t it?  All through school we’re told to get good grades so that we can get into college.  Once we get into college we are told to get good grades so we can get a good job.

Once we get a good job, we work a ton of hours so that we can move up the ranks and get a better job, which usually requires more time and more pressure so that we can set ourselves up with the next promotion. 

We do all of this in hopes that once we reach a certain job status or certain level of income that it will provide us with happiness.  We want more money to accumulate more things, which just take up more time that we don’t have, which leads us to wonder at some point in life,

Is this all there is? 

A Merry Minimalist

Are promotions and hard work bad things?  Of course not!  But, many times, we have it all wrong.  I need to constantly remind myself of this, so maybe we all need a bit of reminder:

True wealth is not found in our promotions or our jobs or by helping a company turn a profit!  It is found in the quality of relationships and pursuing our passions! 

So maybe we need to take a step back and simplify.  We just might find that minimizing our pursuit of stuff may just lead to a greater quality of life.

Simplifying lifestyles leads to owning fewer “things”, but let’s take a look at how owning fewer trinkets can lead us to owning more:

Own more time

You’ll free up time to do things you enjoy.  Maybe it’s spending time with family and friends.  Maybe it’s sitting down and reading a good book.  Maybe it’s a home project you’ve wanted to get done.

It’s amazing how quickly our “I’d like to do” list gets piled up. 

For example, we say, “Oh, I’d like to take the kids to the museum, or I’d like to take my wife out on a nice date, or I’d like to spend more time volunteering at a non-profit organization” and then those things never happen because we’re too busy.

Maybe it’s time to take a step back and look at how much time we spend building our own little earthly kingdom rather than investing into others.

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Own more money

The whole premise to the Millionaire Next Door, the popular book by Thomas Stanley and William Danko is that based on their research they found the majority of those who lived in upscale neighborhoods and had high incomes were not weathy – they just lived high on the hog.

When we kill ourselves to move up the ladder so we can make it into the next upscale community and keep pace with the next income bracket, a funny thing happens.  Our net worth typically doesn’t increase. 

Those who realize the foolishness of keeping up with the Joneses and are satisfied with what they have tend to see an increase in net worth because they save money rather than blow it!

Own more happiness

Remember the song “Cats in the Cradle“?  It’s a sad song about a dad who never played with his son because he was always so busy.  The tables turned on the dad down the road when his son told him he didn’t have time to visit with his father because he was too busy himself.

You could be the best employee at your job, moving quickly up the ranks, but if your spouse and kids can’t stand you because you are never home or never involved with them, what good is it?

Simplifying our lifestyle or decluttering your life from “stuff” will free up more time for you to invest into and enjoy things that will bring greater returns – like quality of relationships.

Share your thoughts!

What a week.  We closed on our house last week and are still living with many unpacked boxes – but that’s OK, it’s just great to be in and sleeping there! 

It’s been hard to post this past week since I didn’t plan ahead and have my internet hooked the day we moved in – so therefore you’ve seen very little posting from me this week.  We should be hooked up by this weekend so I’m excited to get back to a “regular” posting schedule! 

At any rate, This Week in Personal Finance takes a look at interesting articles, posts and news from the past week in the personal finance arena.  Give these articles a click!

I love Visual Economics.  They always do a stellar job converting interesting facts into neat little graphs. This week they take a look at the question Where Is America’s Debt?

 The Digerati Life found an interesting chart about the Financial Risks and the People You Trust.  It’s not a surprising chart, but an interesting one none-the-less.

This is a great take from Free Money Finance regarding the 6 Steps to a Great Retirement as highlighted in Consumer Reports.  Also, call me crazy, but Maybe You Only Need So Much to Be Happy in Retirement - this is something I try to reinforce on this site – it’s not the size of the accounts that will bring happiness! 

Mrs. Micah does a phenomenal job putting together a mammoth list of 2009 tax deductions and credits!  Wow!

Gather Little by Little offers up some famous money quotes!

Steve Jobs is at it again – trying to change the landscape of media and entertainment through his technology - will it work?

Ok - totally unrelated to personal finace, but I thought this was awesome!  Take a look at TechEBlog’s 10 Strangest Lego Creations.

Have a great weekend everybody!

Wouldn’t you agree that happiness can be elusive? 

I mean, doesn’t it seem like it’s what we all strive for and yet many of us never find it.

It’s like the tighter you try to grab hold of it, the more we choke it to death and never receive it. 

The more you run after it, the further away it seems to get. 

The more we search and clamor for it the less likely we’ll find it.

It seems like one of life’s huge paradoxes.

Here’s what I mean:

Work and Happiness

Many times we think I’ll find happiness when I sink my life into my work.  So we work 60-70 hours a week to get the big promotion and once we achieve it the happiness wears off and so we look for the next big promotion to work for.

A very interesting display of this was Tom Brady in a 60 Minutes interview talked about his Super Bowl rings and essentially said that he’s been to the top and has still asked himself, “Is this all there is to life?”

People and Happiness

What we really need to be happy is a significant other.  So we pursue and chase until we find someone that gives us those warm fuzzies only to realize that a few months later or a few years later those warm fuzzies are gone and we “aren’t happy any more” or we “don’t love them any more”.

I think this is why the divorce rate is upwards of 50% – we think people will make us happy and we are disappointed when they don’t – at that point, we think the answer is to leave.

Health and Happiness

Good health is one of those things you take for granted until it’s gone – and then it’s something we wish we had back.

Many of us pour hours into going to the gym, working out and eating right to help achieve happiness in our health. 
But above a certain standard of health – are we really more happy as we get healthier?

Money and Happiness

Will money make us happy?  Sure, up to a certain point.  It’s fun to make, save and use our money to help others. 

But once you reach a certain standard of living where you don’t have to worry about your expenses any more does money really bring that happiness that we’ve wanted?

Things and Happiness

Boats, cars, electronic gadgets, new golf clubs – you name it – will bring a certain amount of happiness, but just like anything else the luster wears off and we are left thinking to ourselves, “I need to buy something new again”.

The Key to Happiness – My Theory

Happiness isn’t derived from health once you are above the minimum standard.

It isn’t wealth after you’ve met a certain standard of living.

It isn’t things after the initial luster has worn off.

It isn’t people if we are using them for our own pleasure and benefit.

Happiness is found in the quality of relationships and the living out of our purpose here on earth.

To create quality in a relationship two things need to happen:

1. Time needs to be spent together
2. The other person’s needs should be put before your own. 

 If both people are doing that you develop a great rhythm in relationship with each other.

Yet how do we spend our time?

Are we spending time with the people we love, friends we enjoy hanging out with and people we should be serving or do we have our noses to the grind trying to make something of ourselves?

What are your thoughts?

Do you agree or disagree with my assessment?  What is it that makes you most happy?

These two terms belong together don’t they - Wealth and Happiness?  Do you remember a time in your life where you weren’t making much money?  You probably weren’t very happy.

Maybe it was during college, or when you first started a business – perhaps it’s now and you’ve lost your job recently.  One thing that often goes through our minds if we were honest with ourselves is this:

If only I had a bit more money, then I wouldn’t be so strapped and could actually enjoy life!

What’s ironic is that not only do many poor people feel this way, but what I’ve often noticed is that many wealthy people feel this way too!

John D. Rockefeller famously answered, “Just a little bit more” when asked the question how much money is enough.

I went to a business planning session yesterday with a group of advisors and one gentlemen mentioned how America is the richest nation in the world - yet the most depressed! 

How could this be?  The answer is clearly that wealth does not equal happiness!

After you arrive at a certain standard of living that affords you the basics - house, food, clothing etc. – any correlation between happiness and money is short lived! 

Think about it, all those things you thought would make you happy didn’t really bring you happiness.  Be honest.  How long after you achieved that goal or that wealth did you say to yourself:

Is that it?  What can I accomplish now?

1 Timothy 6:17-19 offers a little perspective about the rich and their attitude towards money:

As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. 18 They are to do good, to be rich in good works, to be generous and  ready to share, 19 thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life.

What’s interesting about this passage is that the Apostle Paul tells us that in order to enjoy our wealth and our lives our hope should be set on God.

He also tells us that the rich should be generous, ready to share, doing good and their wealth shouldn’t define them, but rather their good works (rich in good works).

Now, some of you might say, but I’m not rich.  I dare you to go to the Global Rich List - type in your annual income and compare yourself to the rest of the world!  Then let me know what percentile you are in! 

You are wealthier than you think – and that wealth won’t bring you ultimate happiness.  You want true happiness?  Put your hope in God, through Jesus Christ and be generous!

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Find out what people want and give it to them!

This is a well known phrase used in marketing and advertising.  It says that you get people to buy your items when you appeal to their natural desires.

What They Sell

Think about it for a minute.  Every commercial you’ve ever seen typically has one driving theme — happiness.

Essentially what the agency is trying to tell you is that you’ll be happier to some degree or another if you have our product – or you’ll be worse off and unhappy if you don’t.

Whether it’s beer, cars, razors, deodorant or the  newest drug on the market, the message is clear.

The next time you watch TV take a deeper look at that message.

What does the company want you to do?  They want you to buy their product of course.

But why?

They are appealing to our natural desire for happiness, comfort and joy.

Why It Matters

There’s a reason why companies will spend several million dollars for a 30-second TV spot during the Super Bowl.  It’s not because they like to spend money.

They do this because there will be some people who go and buy their products or services.  There is a return on investment for the company.

Companies don’t advertise for fun, they want to make a profit.

Don’t get me wrong – there’s nothing wrong with making a profit, but we need to be mindful of how it affects us.

How Does This Affect Us?

TV can be a breeding ground for greed, materialism, covetousness, envy and discontentment.

Advertisers appeal to our natural desire for happiness by getting us to think we need to drive the right kind of car – drink the right kind of beer - shave with the right kind of razor – and use the right kind of prescription drugs.

And when you do all of those things you’ll have better sex, more power and greater joy!

Don’t give in to the temptation of discontentment and envy and think to yourself  - if I only had this thing - then I’d be happy.

Is TV Affecting Your Financial Health?

Do you find yourself buying the latest and greatest things and racking up debt just to keep up with the Joneses or because you think those things will make you happy?

Are you going out and using credit cards for something you know you don’t need, but just feel like you have to have?

The scary thing is that we may not even realize we do this!  It’s such a natural tendency in us that we fail to recognize it.

The next time you watch TV, pay attention to the message and how it affects you.

What To Do About It

Throwing your TV away and resolving to never watch it again will not deal with the root of your envy or discontentment.

So what’s the answer?

1. The first step is to be aware of how you’re affected by TV.

2. Secondly, we need to realize that lasting joy is not found in the newest products and the latest gadgets.

3. Lastly, we need to understand that lasting joy is only found in a loving, personal relationship with Jesus Christ — who gave up everything including his own life — so that for those who believe and follow him, they could have eternal happiness and joy in Him.

Being vigilant while you watch TV will help guard your financial wellbeing and your spiritual health.

What is the ultimate goal of getting your personal finances in order?  Is it to be debt free so that you have security and comfort in the midst of a struggling economy?  Is it to feel in control of something that perhaps was always out of control?  Is it to feel a sense of accomplishment or pride knowing you did a great job in getting your “house” in order?  Do you want to make more money so you can buy the toys you’ve always wanted?  What is it that makes you tick when it comes to improving your personal finances? 

I like to wrestle with these kinds of questions although I am not always happy with the answers that I give.  I love to hear from others too about what makes them tick and why they do the things they do when it comes to their money.  Most of the time, if I were being brutally honest with myself, I give superficial, selfish reasons for wanting to get my mortgage paid off early or make more money.  Unfortunately, at the core, I find often times the root of my desires is pride and selfishness.  Feeling good about myself or that I’ve done something on my own or have done a great job of handling my money can be a source of self exaltation for me.  How about you?

I was challenged a while back by something John Piper wrote in his book , “When I Don’t Desire God” in regards to prayer.  I came across it again recently and it got me thinking about the issues of money and personal finances and what brings ultimate joy when it comes to dollars and cents. Here is what he says:

Your prayer for your job is not merely that it be stable and peaceful and prosperous, but that it truly serves the needs of society and that in all your labor and all your relationships your joy in Christ and your love for people would make a name for Jesus.

Ok, if I am going to continue being honest then I have to confess that my prayer a lot of times ends at the part of making my job stable, peaceful and prosperous.  How about you?  Don’t leave me hanging out here by myself on this one.  Think about it.  What are your prayers like for your job?  Are they prayers for comfort, security and stability?  Do you pray for more money, less headaches and that everyone finally wakes up to see what a fantastic employee you are?  

If I could have a conversation with John Piper, I might ask, “Dr. Piper, are you saying that security and comfort and stability are bad things to desire?”  I’d guess that his answer would be “No, but if our desire for those things is greater than our desire for joy in Jesus then emphatically YES, those are bad desires.”

Reading his quote reminds me of what the Apostle Paul says in Ephesians 4:28:

Let the thief no longer steal, but rather let him labor, doing honest work with his own hands, so that he may have something to share with anyone in need

So here’s the rub.  The reason why we should make money, get our personal finances in order, work at becoming debt free and in general be better stewards is so that we can share with those in need and be a help and benefit to other people.  Why?  Because loving and serving others for Jesus sake is what brings ultimate and lasting joy!  

Do you see what a huge paradigm shift this is?  The real fruit of faithful finances is not that we are no longer debtors to banks and institutions, but that we are freed to give generously to those who are hurting and poor and weak.  Happiness from paying off your house or your car is fleeting.  Don’t get me wrong, it feels great, but the fact of the matter is that when you pay off that $400 monthly car payment and are wondering what to do with that money, perhaps taking a look at how you can serve others with it rather than socking it away into your retirement plan will bring more lasting joy an glory to our God and King.

What About You?

So, how about you?  Have you ever accomplished some goal or task or landed that promotion and still felt an emptiness inside?  What makes you tick when it comes to your personal finance goals?  Have you felt an exceeding joy from being generous and sharing with those in need?  I’d love to hear your thoughts!