Money Does Buy Happiness — 4 Smart Ways To Lift Your Lifestyle with Small Raises
Written by
Caitlyn Moorhead
Edited by
Cory Dudak
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While it’s often stated that money cannot buy happiness, it can be hard to relate to when living paycheck to paycheck. Fortunately, when used wisely, even a little extra income can significantly enhance your quality of life. With just a small raise, strategic financial decisions can allow you to live more comfortably, reduce stress and invest in long-term happiness in the form of financial goals.
Whether you already make over $200,000 a year or bring in a low income, a small raise can boost the mental state of the rich and poor alike. Though the hypothesis of more money equalling more happiness has no guaranteed outcome, there are few people out there who wouldn’t want to participate in the experiment. Here are four smart ways to boost your lifestyle with even a modest increase in income.
Invest in Experiences — They Are Worth More Than Possessions
Though instant, material possessions tend to provide only short-term gratification, investing in experiences like travel, dining out or learning a new skill often lead to lasting happiness. Many studies show that experiences tend to be more fulfilling because they create memories, foster relationships and can lead to personal growth (you are your best investment, after all).
With a small raise, consider putting a portion of that extra cash toward something that enriches your life. Whether it’s a weekend getaway, tickets to a concert, a business course or a cooking class, these moments will create more lasting joy than an impulse buy on Amazon.
Put Your Money Where Your Health Is
Health is wealth, and one of the best ways to use a raise is by investing in your physical and mental well-being. Consider upgrading your gym membership, trying out a yoga class or purchasing healthier organic groceries. Investing in healthier choices now could also save you money on medical bills down the road.
A small increase in income could also help cover therapy sessions or wellness apps to manage stress and mental health, especially during trying times. By improving your health, you not only feel better, but increase your productivity, energy levels and overall sense of well-being.
Enhance Your Environment
Your surroundings have a profound impact on your mood and mindset. Once you are done working on yourself and your hierarchy of needs, even minor improvements to your living space can significantly boost your comfort and happiness. With a little extra money, you could invest in things like better lighting, plush towels, comfortable furniture or even some plants to create a more relaxing and inviting environment.
If home decor isn’t your thing, consider spending a bit on convenience around your house like a cleaning service once a month. Reducing household chores can free up your time for activities that bring you more joy, like passion projects, side gigs or hobbies.
Saving Now Creates Security Later
While splurging on immediate pleasures is tempting, using part of your raise to build financial security can provide long-term peace of mind. Start by boosting your emergency fund or contributing more to your retirement savings. Paying off high-interest debt is another smart move that will reduce financial stress and improve your overall well-being.
Knowing that you’re on a solid financial footing can lead to lower stress and greater life satisfaction in the long run. Financial security may not feel exciting, but it can provide the freedom to enjoy life without worrying about future expenses or unexpected setbacks.
Final Take To GO: Money Can Put a Downpayment on Happiness
The bottom line is that money may not directly buy happiness, but how you choose to spend it can greatly influence your quality of life. The key is to be intentional about where you direct those extra dollars, so they make a lasting positive impact on all the areas of your life, not just your bank account.
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