How your money mindset can affect your happiness

Have you ever thought to yourself: I'll be happy when I’m wealthy?

Many people do believe that happiness is the result of wealth. The way we think and feel about money is sometimes described as our money mindset. Our beliefs about wealth, success and financial freedom can influence the goals we set and what we expect will make us happy.

There is some logic in this, since when we have more financial freedom, it can give us more choices. On the other hand, more choices doesn't necessarily, and doesn't automatically, make us happy or happier.

So, how might our money mindset influence what we believe will make us happy?

Happiness is about being fulfilled; it's about feeling good from within. That is why even when we have more money, when we have been able to buy the things we want - after that initial purchase and the momentarily good or excited feeling we tend to default to whatever we were feeling before. This means that if you were not happy before you went shopping, you’re highly likely to go back to not being happy after the shopping!

Living for a purpose beyond wealth

What does seem to give people a sense of fulfilment and therefore the feeling of happiness, is having a goal, a purpose, a raison d'être. In other words, having something to wake up for, to get up for, to strive towards.

People tend to find that, when they are working on a goal, they feel purposeful, useful, and of value or valued. This can be either in our own mind or by others. This is much more likely to make us feel good, to give us that happy feeling.

Yes, money is a very useful resource - however, there are many people who have lots of money who are not happy. Whereas having purpose, goals, reason for being, makes us feel good, valued and as a result, much happier.

Exploring your money mindset can help you consider whether the goals you are working towards reflect what genuinely matters to you, or whether they are based mainly on reaching a particular level of wealth or financial success.

What would make you truly feel happy, over and above having more money. What do you believe would give you that feeling of fulfilment?

If you find that your beliefs about money are affecting your confidence, happiness or the goals you set yourself, working with a coach may help you explore your money mindset and identify what fulfilment and success mean to you.