I just ran across an interesting book called, Money Can Buy Happiness: How to Spend to Get the Life You Want by MP Dunleavey. On the book's web site, there's a sample of what's inside. While it sounds like a book about money, it's really a book about what makes us happy. Here's how the author describes the basic concept:
It may seem strange to equate your personal well-being with an investment portfolio, but it's a pretty useful metaphor. It reminds you, the stockholder, so to say, that you have a fair amount of control over where you invest and why...Savvy money managers may know to put a certain amount of capital into something solid like bonds, blue chip stocks or large-cap mutual funds, but the precise investments they choose are up to each individual. Likewise, how you decide to balance your assets in order to enhance your own happiness is ultimately up to you.
She goes on to describe the different happiness assets she recommends investing in. In a nutshell, those are...
ASSET #1: YOUR VALUABLE TIME
"...tradeoffs you can make to reclaim your time-and invest in a happier life."
ASSET #2: YOUR PERSONAL RESOURCES
"Investing in your self..."
ASSET #3: YOUR HEALTH
"...small but steady investments in your physical plant are key to the overall performance of your portfolio."
ASSET #4: FINANCIAL CONTROL
"...master bad money habits, vanquish debt, buy yourself greater peace of mind—and take control of your future."
ASSET #5: MUTUAL FUN
"...the all-important fun sector, and the countless ways it can boost your portfolio's overall performance."
ASSET #6: GET INTO BONDS
"...investing more in the people who are most important to you is essential to having a life that's fulfilling."
ASSET #7: GIVING TO FEEL GOOD
"...researchers are finding that the act of giving bestows numerous gifts on the giver as well: it supports and strengthens social bonds, enriches your life, enhances your health and even boosts longevity."
Dunleavey follows that list up with this comment: "There's absolutely nothing surprising on this list, nothing new-except the radical idea that these aren't philosophical choices, but financial ones."
And that's what I love about this idea. It starts to put money into perspective. It neither demonizes it nor idolizes it. It simply looks at money as a tool. And when we see it as nothing more than a tool, we're still left with the question, "What's important to me?" And the more we understand that, the more closely aligned our financial decisions can be with what makes us truly happy.
I literally just ran across the book online, so I haven't read it yet. And I'm not going to let myself order it until my to-read stack is considerably shorter than its current two feet tall. But it's definitely going on my to-read list.
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Curt Rosengren, Passion Catalyst TM
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