Written by a F.A.B.U. contributor
We all heard of the saying that money can't buy happiness.
You can buy material things that make you happy, but that feeling tends to go away over time.
Money can buy you experiences, like seeing your favourite artist in concert. Or maybe some crazy experience like skydiving out of a plane or white water rafting down the Ottawa River. It can get you that relaxing vacation in another country to experience things you don't usually see or do in your day-to-day life.
But, when it all comes down to it, you cannot buy the simple things in life like genuine human connection. You also can't buy the feeling of fulfillment and satisfaction. And it certainly cannot buy time.
When it comes to people and money, things can get complicated. Some people steal for it. It can tear families apart. Some people gamble it away, hoping to make more. We try to find ways to get rich quickly, while some work as much as possible to make more.
We work so hard to earn money, but it gets spent even quicker.
Money can't buy true happiness, but it can reduce stress, which will, in turn, make you a happier person.
When it comes down to it, finances take up a lot of space in our lives. According to FP Canada, money was the number one cause of stress for Canadians for five years in a row. This was especially true in 2020, when a lot of people lost their jobs during the global pandemic.
When it comes to financial worries, it's a lot more than continually thinking about it. It can also impact your sleep as many people lie awake at night worrying about it, and it can even affect your relationships with other people.
People need financial stability to feel at ease. People who have economic stability often live a stress-free life because it is one less thing they do not need to worry about. For others, it's not that easy.
Even if you have financial instability, one way to help reduce that stress is to have a financial plan. It won't solve all financial problems, but it lets you take control and predict where things are going.
The feeling of controlling your money instead of money controlling you will help in reducing this stress.
We all want financial stability. That's why we buy lottery tickets, so we can win the jackpot and never have to worry about money again.
But if we control our money instead of letting money control us, we can reign in on what matters. And if you have extra money lying around, you can treat yourself now and then.