Many people want to learn how to build wealth in property, and this is something I love to talk to my clients about every day.
But, what if wealth wasn’t about dollars in the bank, but more about how we spend those dollars and how it makes us feel?
There are a few principles I like to follow in my own life to help me maximise the happiness I get out of spending my money.
Here are 3 unexpected ways to help make you wealthier in your life too:
- Only spend on what brings maximum enjoyment
The first principal I like to follow in my own life is to cut out anything I’m spending money on, that doesn’t bring me a lot of joy.
Now, I’m not talking about bills. Of course, we all have to pay for those.
But, I mean anything that’s not a necessity and only brings me about 50% on the happiness factor.
If there is something you’re spending money on, but it isn’t bringing you much joy, then try cutting it out of your life.
- Never buy impulsively
When I go shopping, even if it’s a bit of a spending spree, I still don’t buy anything impulsively.
You see, waiting for a week or so before I actually make the purchase helps me ensure that I’m going to get the best value out of it.
I don’t feel like I get much enjoyment out of impulse buys.
But, if I can wait for a week and I still get a buzz when I think about buying it, then I know it’s going to be worth it.
- Make sure treats remain treats
Finally, I like to make sure that the treats in my life, whether it’s going to the movies or enjoying a piece of cake on the weekend, remain as treats.
I think it’s important not to maximise treats and have them every day.
Not only can it be unhealthy for you, but I find the more frequently I have a treat, the less appeal it really has.
And once that starts to happen, I’m definitely not maximising the enjoyment it could give me.
So, think of building wealth as the practice of maximising your happiness for the longest time possible, rather than having the most dollars in the bank.
Go through life in this way, and you’ll find that’s a real investment.