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Millionaire Mindset: Do Not Equate Spending With Happiness

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Have you watched TV recently? Of course you have, we all have. It’s one of the greatest inventions of all time. Many of us have 3+ TVs which must equate to nearly a billion televisions in the U.S. alone! When our favorite T.V. show isn’t airing, what is being displayed to us on our television set? Commercials!

Every day, we’re being shown all sorts of things that we could own, from paper towels to brand new cars! And what do all of the actors have in common that are advertising the product? Smiles. These products are making them happy, and if we fork over our cash and buy the product, then we assume that we’ll be happy too! We believe that the millionaire mindset is directly related to spending.

And, it’s not just the television that displays these ads to us. They encompass our every move!

  • Billboards
  • Trucks, vans, cars
  • Radio
  • Purchased Products
  • Buildings
  • Clothing
  • Restaurants
  • Work

These are all of the places where we’ll experience ads, and sometimes we don’t even know it.

Happiness Level

Have you ever decided to purchase one of these items that you thought would make you the happiest person in the world? Where is that product right now? Do you even own it anymore? Or was it just wasted money?

If I think about my friends that have purchased brand new cars because it was “the best thing ever” and would make them happy for life, they might still have the car, but they’re already talking about the next car that they’re going to purchase. That’s the one that will truly make them happy….. I don’t think so.

Happiness Has Nothing to Do With Spending or Possessions

Have you ever visited a Developing Country (used to be referred to as a Third-World Country) or seen television footage of their day to day life on T.V.? These people live on less than $5 a day, and more often than not, they are some of the happiest that you’ll ever meet.

On the other end of the spectrum, if you walked up to a mansion and spoke to the owner, they will probably tell you that their house is nothing compared to their friend’s, and they can’t wait to move out of that dump. They are always wanting more. And more. And more.

Save it and Give it

My wife and I are both quite young (25 and 23), and we are already learning these lessons. We lived in Palm Beach County, which is one of the most wealthy counties in the United States! Initially, we thought that the location was the best thing we could ever ask for; we were close to the ocean, we stared at palm trees all day, and the temperature was far from freezing. However, it was a paradise that soon lost its luster.

The area had a beautiful setting with beautiful people, but many of their hearts were as black as coal. All conversations revolved around possessions and status. Love was not discussed or valued. It was incredibly depressing.

Since that experience, my wife and I have moved back home to Michigan (near our loving friends and family) and have learned to limit our spending and give to those in need. We still save for our retirement, but we do not spend unwisely on short term wants. We have much to learn in the future I’m sure, but these lessons have already been worth so much!

Have you ever purchased something that you thought would make you happy? What was it, and where is it now?

Money

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

9 Comments

  1. This is a great post!
    Right now with the disaster and destruction in Japan, it can really make you think about what is important. I have caught myself complaining about my wants and “needs” over the past few days and I’ve had to stop and realize how petty some of my complaints are.

    • I’m still watching the news on Japan, and it seems to be getting worse and worse for them! I’m most definitely keeping them in my prayers and at the same time thanking God for my friends and family that are still alive and well here in the States.

  2. What you’re saying makes sense. I wrote a post that’s somewhat similar post entitled Not just about money. It’s amazing how much my life has changed ever since I started to not watch television. I went from wanting things and going out to make purchases to reading more and spending more time with friends. I would say that the quality of life for me has gone up substantially for the better. I think it’s all about defining needs vs. wants. I wouldn’t say that you should never splurge on wants but focus more on rainy days and only indulge on one or two things.

    Thank you for the great post. 🙂

    • Not having TV is amazing isn’t it! Right now, I am living with friends, and the TV watching is turning my brain to mush! Life is so much more enjoyable when I stare into my wife’s beautiful eyes! 🙂

  3. When I was a newspaper reporter, I wrote an article about a University of Colorado professor who conducted a long study on the correlation between money and happiness.

    His findings? Money, when spent on “experiences” — such as taking a yoga class, skiing with your family, or taking the kids to an amusement park — can raise happiness levels.

    Money, when spent on possessions — such as a bigger TV or nicer dishwasher — does not.

    • I agree. Sometimes experiences are tough for me to spend money on, since I know that it has no monetary value once it’s over, but if I ever want memories, I’m going to have to huh!? 🙂

  4. I am so glad that you have generous hearts…I do believe in having enough to share with someone who has a need…we have always done that and it blesses us each time

  5. Great points. Spending more money will not make you more content at all. Possessions are merely inanimate objects that bring fleeting joy.


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