by Mark Templeton, Managing Director, TAG Financial Services
Let’s tackle the age old question, “does money make you happy?”
Before I am accused of being materialistic, I will ask all readers to consider being very poor! You cannot buy happiness; I will state that from the start. But let me tell you I would not want to be poor, having to go without, not enjoy the things you and your family love doing and having to watch every cent – that can be hard work and put a lot of pressure on relationships. If you have good family relationships and solid friends, enjoy your job or business and have some fun outlets, money can certainly help you enjoy these important things more and yes it does make you happy.
Money managed well can provide certainty and comfort. It would be frightening to wonder how to put food on the table or to be continuously under pressure to pay the heating bill. It would be disappointing not be able to provide every opportunity for your children or not being able to invest in and care for you and your loved ones. Money should never be worshiped but managed well in its rightful place, can certainly make you happy.
Where money is prioritised over relationships or used as a power play you won’t see this happiness, not in the long term anyway. There are lots of things you cannot buy and one of the most important things is time. Money can provide you with choices, with freedom and can deliver you convenience. If you take full advantage of these things and manage them well, they are a fabulous platform for happiness and allow you to enjoy your limited time on this earth.
So, manage your money well and it can make a big contribution to happiness.
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Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686).