Find the Balance - How Cultivating a Healthy Relationship with Money Can Improve Your Happiness and Health
Money and Your Well-Being
More people are increasing their financial flow. A respectful relationship between you and your money can improve your overall well-being. Are you wondering what you can do to increase your wealth and attract infinite abundance?
There is little doubt that in Western and many Eastern cultures money is a necessity. It’s needed to fulfill your most basic survival needs: shelter, food, clothing and social stability. Therefore, if you consider your security; money is needed to fuel your happiness to a certain degree. So you may be thinking if many of us are able to get our basic needs met, then why do we stress ourselves out trying to make more money? The answer is simple, we’re not happy until we have more.
It’s OK to want to accumulate more wealth and abundance; where many tend to compromise their well-being is by not establishing a healthy relationship with their money. Regardless of where one fits on a socio-economic scale, without a good relationship with money; total subject well-being may be a challenge to achieve.
MONEY AND YOUR HAPPINESS
A 2020 research article in Applied Research in Quality of Life, cites that when individuals desire money for financial stability and self-integrative reasons, psychological need satisfaction is encouraged and leads to positive well-being. Alternatively, materialism creates a set of unhealthy reasons for desiring money.*
Also many research studies including ideas going back to ancient Greek philosophies indicate that your subjective well-being is positively influenced by these various motivations.
Investing in experiential purchases: free time, leisure, hobbies, and generosity (2018, Social and Personality Psychology Compass)*.
Spending money on others - spending your money wisely on others out of generosity. Spending money on others makes them happy and contributes to your general happiness*.
Spending money on purchases that will save time on tasks (and buy you time) rather than material possessions.
Spending money on possessions that compliment your personality, rather than buying material items out of impulse or to achieve short-term happiness.
