Featured in Cosmopolitan Magazine
Is it just us or does being happy and rich seem like the holy grail of life success? The good news is that, according to a new book, you can make sure that your financial plans support your future happiness goals.
How Much Is Enough? by Andrew Bradley, Arun Abey and Andrew Ford (published by Random House Penguin) has sold 100s of 1000s of copies worldwide and has now been localised for South Africans. It shows that ‘when money helps us to live in a way that’s consistent with our values and goals, it can play a direct role in promoting happiness.’
And these, it says, are the first three steps to a happier, richer future.
- Work out your Values
What truly matters to you? ‘Values represent the things in life that are our greatest priorities,’ says the book. ‘While it’s easy enough to be attracted to noble values such as goodness, kindness and freedom, the real question is what drives our choices when it comes to the issue of how and where we spend our time, energy and money’.
- Check your Resources
Once you know what your values are, figure out what resources you already have in your camp to help you manage your money in line with those values. How Much is Enough? suggests you ‘Begin by mapping out your financial resources today and what will be available in the future.’ This can include looking at your current budget, income and expenses in the short and medium term, your future needs and your savings and investments (yes, you need those).
- Draw up a (smart) Investment Strat
Finally, using all the info you’ve gained, you can figure out what kind of investment strategy you need to support your happiness goals. If you value your girlfriends, your money plans should allow you to save for girls’ weekends in the short term, for example.
And you don’t need to be a finance guru to invest; all you need is a basic understanding of golden investment rules – Quality, Value, Diversity, and Time – and good advice from a financial advisor. Look for someone who ‘will be able to explain their advice in words that resonate with who you are and what you want,’ says How Much is Enough?
TIP: If you want to get the book from Kalahari, TakeALot or Exclusive Books, make sure you order the South African version (with Andrew Bradley as co-author).