Money, time and happiness
The more you learn about your money story and the better you manage your finances, the more choices you’ll have – because money gives you the freedom to choose.
👋 Welcome to the latest issue of How To Money by Kate Campbell – the newsletter that talks about all those money things you wish you had learnt in high school.
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Dear Reader,
I realised the other day that it’s been 12-months since I published my first book, Buying Happiness!
The year has just flown by (says every adult ever 😅).
To celebrate my book's birthday, I want to share an excerpt from the introduction with you, which discusses the themes of money, time, and happiness.
What does it mean to be happy?
‘Happiness’ is an interesting word, one that I believe everyone gets to define for themselves. From my perspective, it’s a by-product of a well-lived life, not a destination. In Happiness: A Very Short Introduction, Daniel Haybron recommends that we ‘give up the idea that any single account of happiness can capture everything we use the word to talk about’.
People use many words to describe happiness, such as ‘satisfaction’, ‘wellbeing’, ‘fulfilment’ and ‘contentment’, but I’d like to add a few more – especially in the context of money.
Happiness is freedom.
It’s the ability to make choices and know when you have enough.
It’s about being satisfied with life right now while still growing as a person.
It’s about not postponing your life to a future date.
It’s piecing together a tapestry of small moments that compound over time to form a good life – and that, in my view, is a lifelong journey.
In Flourish, Antonia Case points out that ‘one does not stumble on a good life, it has to be actively managed’. This book is about using the resources at your disposal, specifically time and money, to build a good life – a happy life.
While happiness can’t be bottled up and purchased at a store, by taking control of your finances and thinking a little more deeply about the way you use your resources, you can improve your life.
Money, time and happiness
Money is a tool that you get to choose how you wield.
While having more money won’t solve all your problems, you can certainly use it to smooth the road ahead and achieve your goals. The more you learn about your money story and the better you manage your finances, the more choices you’ll have – because money gives you the freedom to choose.
Whether you want to change careers, spend more time with family or travel in Europe for six months, money is a tool that can make your dream viable.
To give yourself those options, however, you have to take that first step.
That could look like taking a glance at your spending for the first time, having a conversation about your current savings goals with a friend, or investing your first $5. We’ll do all this and more in the next ten chapters.
It’s not just about money, though.
Your time is another valuable asset to be spent, saved and invested with intention. It’s a finite resource with a powerful effect on happiness, so it’s important to consider how you can use your time in a way that feels most valuable to you – remembering that this will be unique to every individual, and will likely change throughout your life.
Although you can’t deposit your time in a bank account, you can create space in your days – right now and in the future – to spend your time in more meaningful ways (be that travelling, spending more time with family or even retiring early).
This book is ultimately about the choices you can make in life and supporting you to make them from a position of strength. It’s a guide to using the time and money at your disposal to increase your happiness.
The central idea is that if you spend, save and invest both your time and your money better, you’ll have access to more of it.
If you then use these additional resources to make intentional decisions about the way you spend your life, you’ll be on a good path to happiness.
You can do this
Many people avoid getting on top of their finances because they think money is hard, but it doesn’t have to be.
As you’ll discover in reading this book, a simple system can set you up for a lifetime of choices.
You don’t need a qualification to manage your own finances well, but you do need to start with some foundations.
First up, it’s important to educate yourself. This builds your confidence to make positive decisions for your financial future. By opening this book, you’re taking the perfect first step.
It’s also essential to be patient. Sorting out your finances isn’t an overnight process and will take time. You need to start planting the seeds of the trees you’ll sit under in the years to come.
Finally, I urge you to be kind to yourself during this big (but essential) learning journey. Many people beat themselves up for not knowing about this ‘money stuff’ already, but it’s much more important to focus on the opportunity in front of you to change your money story.
Please be kind to yourself on your money journey. Try not to get stuck comparing yourself with friends and family who are a few steps ahead of you. At times, it will feel confusing and challenging, but I encourage you to push through those feelings because there’s a lot to look forward to on the other side.
✨ Five key ideas from Buying Happiness
As you work through this book, you’ll also see some key ideas pop up again and again. I’ll walk you through them now to give you a head start.
It’s your money. It might not seem like it right now, but you have a lot more choices about how you earn, spend, save and invest your money than you realise. By sorting out your financial foundations, you’ll feel more in control of your financial future. Remember, this is your money journey and you get to choose the destination.
Talking about money is okay. It’s not always fun and easy, but there’s a huge benefit to having conversations about money at any age. Be the person to kick off the conversations in your own community and don’t get discouraged if not everyone is open to it (research shows it’s one of our least favourite topics of conversation). Most importantly, listen without judgement during these vulnerable moments.
You can buy happiness. The experts have spoken; there are many ways you can use your time and money to increase your happiness. The first step is being aware of where your time and money are currently being spent, and then adjusting your actions to get the most out of your resources.
Take small actions, lots of times. When it comes to sorting out your finances and starting to invest, it’s not all or nothing. I encourage you to remember that you can start small, but start now – and take regular action. Your confidence is built through the actions you take.
Take healthy risks. Many of the things that make us happiest today began with taking a risk – be that a career, partner, business or hobby. We need to see taking healthy risks as a positive part of the journey to building wealth. Plus, it turns out that taking risks actually makes us happier; how great is that!
Thanks for reading
Thanks for reading today’s issue of How To Money. If you enjoyed what you read, I’d really appreciate it if you could share it with a friend, family member, or colleague who you think might like it too.
✨ If you’d like to support my journey, the best ways are to:
Buy a copy of my book, Buying Happiness: Learn to invest your time and money better through Booktopia, Amazon or order it through your local library.
Subscribe to my podcast (The Australian Finance Podcast) and leave a review.
I haven’t read your book, but your introduction has made me curious to learn more! Congratulations on your book's first anniversary! 🎉