When Thinking about Your Finances: “How Much Is Enough?”

Have you ever felt crushed by car payments for a car you didn’t really love, or mortgage payments you couldn’t quite afford?

For the past few weeks I’ve been reading a book by Arun Abey and Andrew Ford entitled How Much Is Enough? Most of us never ask ourselves this question, yet it is essential to contemplate if we want to create abundance rather than bills.

Often our financial goals are guided by society or at least our perception of what our culture seems to say about success. We are barraged from childhood with messages telling us we would be happier wearing this clothing brand, driving that particular car, or living in a large home in the right neighborhood. Abey and Ford say that achieving these kinds of goals can be fulfilling, but only if they are tied to our personal values.

So let’s say you value having a home that is welcoming to friends and family. In that case, buying a large home where you can easily entertain may give you lots of joy. However, if you buy a large home because that’s what other people do when they are successful, you may soon feel trapped by this mortgage.

Therefore, gaining clarity about what’s important to you is essential. Build your financial plans around what gives you joy, which may be very different than acquiring what marketers portray as success symbols. Let your heart guide you.

For some this may mean choosing to see the world. And to make this possible they drive a smaller car and rent an apartment. Others invest in a large home and budget more for entertaining family and friends than for travel to distant places.

What we get when we make these choices from our heart is that we have truly spent our money on things we find fulfilling. When the bill for that trip or that home arrives, we are glad and we know that we would do it again in a minute.

So today I invite you to contemplate what does “enough” truly look like for you? What are the things that give you joy in life that you would like to work towards? Take a moment, close your eyes, and ask yourself: “What is it that inspires me?”