In my last post, I talked about how to scale your finances during this economic shift and one of my points was to cut down on non-essential expenses, but I took a twist on that, and I will be expanding on it today.
Like I mentioned in my last post, cutting down on certain non-essential expenses should be based on a scale of less preference which means that you should start cancelling out items that bring you less happiness first. As much as this period requires active measures to stay afloat financially, it is also important that you also prioritize your happiness. Hence, you should first define the top things that bring you happiness. It could be going for vacations/adventures, buying your favorite designer brands, or getting new gadgets and so on.
The next thing is to put a balance between your happiness and staying on track on your journey to wealth. To do this, firstly allocate a sum of money periodically to fund what brings you happiness i.e., you should include this in your monthly budget after you have covered your basic needs and an allotment to investing/saving.
Secondly, you may need to focus on one happiness item at a time. You may start with the top first thing that brings you happiness and fund this. If you take so many items at a time, in the name of prioritizing your happiness, you will likely put a strain on your finances and sacrifice your journey to wealth.
Thirdly, understand that you may need to yield to delayed gratification at times. If funding your happiness item requires a huge amount from you, you can split this amount over some months. Trying to hurry into this may lead you to borrowing or diverting the funds meant for other important goals, which should not be!
While on your journey to financial stability and wealth, prioritize your happiness! I hope these three tips help you prioritize your happiness at this period while also being on track on your journey to wealth.
To your financial independence and freedom!