What Money CAN Buy
We are told a lot of stories about money, particularly as children. Things like, money doesn’t grow on trees, or money is the root of all evil, or money won’t buy you happiness.
The happiness one is something I think about a lot. As a family, we have more money today than we did five or ten years ago and I often ponder if we are happier. I don’t think so. We were happy then and we are happy now.
But money has done something for our life, for sure.
Even if money can’t directly buy happiness, it can buy things that lead to a great appreciation of life. This looks different for everyone but I love this idea of thinking about what money CAN buy as well as what it can’t buy.
For me, money has bought:
Adventure.
In the last three years we have upped the ante on our adventures and my most content moments have been whilst out in nature with the people I love. Now, I know you can be out in nature for free, but realistically, if you live on a small Caribbean island and you want to adventure in the mountains or forests, it costs you. Even if you were to camp and go back to basics, there are still flights for five people and car hire.
Not only have we had more adventures but we have experienced them in a different way. We hired guides (I wrote about the joy of hiring a guide) so that we got the full experience.
We are currently planning this year’s adventures. We are heading back to the mountains – this time the Pyrenees (I hiked there in 2022 with friends and am desperate to take the family there). Then we are sailing down the Croatian coast. Mountains for me, ocean for my husband.
I once read that most of the joy of a trip is in the anticipation of the trip, and I think that might be partly true. I spend hours pouring over destinations and get totally lost in the dream along the way.
Comfort.
Comfort means different things to different people. For me, it’s things like going hiking and being able to buy the best kit to stay warm and comfortable. When I went to the Pyrenees last year I spent a not-insignificant sum on my clothing, shoes, backpack and other accessories. The phrase ‘all the gear and no idea’ was uttered by a few of my comrades. But all I cared about was being comfortable and comfortable I was! I was never too hot or too cold. My feet didn’t hurt. Getting blisters or being cold whilst hiking in the mountains makes the whole experience miserable.
The same goes for our kids. Money gives the ability to buy them the right kit for the right moment. Putting them in real wool undergarments and socks whilst skiing keeps them warm and it brings me a sense of comfort.
That’s what comfort means to me – the right clothes and shoes at the right time (and a really good mattress).
The ability to look after your health
Money can’t buy your health, but it can help you live a healthy life and that’s a fairly major step in the right direction.
I spend another ‘not-insignificant sum’ on personal training. It’s the best investment I have ever made in myself. My body is stronger than it was when I was in my 20s. I could reduce the cost significantly if I just paid a gym membership, but the one-on-one training keeps me accountable. I show up. She works me harder than I would if left to my own devices. I have no intention of ever giving up. If I am not doing pull-ups when I am 80, something has gone wrong.
Money also enables you to buy good food and supplements. Good food is expensive – much more expensive than junk food. And supplements – whoa – I have just come to realise the importance of supplements and equally, the cost.
The ability to get help
Money gives you the ability to get help, when you need it. I have a lot of help in my life. Help is about paying someone to do the things that you don’t want to do – clean your house, mow the lawn. I always joke that if money were no object I would have a private chef – someone to prepare amazing healthy nutritious meals every day. No shopping, no prep, no cleaning up. Never having to think about what to buy, cook and eat would be my idea of heaven. One day. One day.
The ability to help and give
Most people we speak to have someone near and dear to them that needs a bit of financial help; on-going or sporadic. Having the ability to help when people I love are in need is a huge part of what gets me up in the morning. Of course giving needs limits and we have certainly had to help clients set limits in the past, but the freedom to say “absolutely, don’t worry about it and don’t think about it again” is priceless.
Peace of mind
I have to be careful here, because I absolutely know that more money does not necessarily bring peace of mind (sometimes there is a negative correlation). It should, but peace of mind comes from something deeper than money. My friend Carl Richards articulates this much better than I ever could:
If you struggle with ‘enough,’ more money won't solve that problem. It's the wrong tool for the job. That’s because ‘enough’ is not a money problem, it's an emotional problem. It's a fulfillment problem. We've given money a job that it was not intended to do.
No amount of money will solve money insecurities.
Insecurity is a state of mind, not a bottom line. And no amount of money will change that.”
My childhood experience with money was up and down – we had a lot and then none (like none, none). I didn’t have a healthy relationship with it when I started earning. I was so excited about having money that I spent everything I had, went into debt and buried my head in the sand.
Having immersed myself in the psychology of money over the past few decades I have learned what money can and cannot do. I know what to spend it on, and what not to spend it on, in order to give me fulfillment. I do sometimes wonder how I would be with money if I hadn’t ended up in the world that I am in. Now, in my 40s, I am incredibly grateful for the peace of mind that I have and the absence of stress that I feel around my own money. I am grateful for the help I have, the help I can give, my health, my comfort and non-stop adventures.
What is it for you? We would love to hear.
Georgie
georgie@libertywealth.ky