In my last post, I talked about how you should not try to “keep up with the Joneses,” as the saying goes. But here’s the thing: It’s OK to want and to have nice things — just as long as you don’t go broke in the process of acquiring them.
It’s All About Mindset
In the last article, I mainly talked about the mindset behind keeping up with the Joneses. To recap: Many people think a higher standard of living will make them happier, so they overspend in order to look better or feel better about themselves. This is a great way to wind up stressed to the max and in debt up to your ears!
But just because you’re going to start snubbing those Joneses (sorry to all you lovely real-life readers named Jones), that doesn’t mean you can’t buy nice things. The opposite of keeping up with the Joneses isn’t a monastic lifestyle. It’s mindful consumption.
In other words, whenever you spend money, the goal should be to improve your overall quality of life — not to measure up to someone else’s unspoken expectations.
When you spend in this way, you’ll automatically cut back on the amount you’re spending. In part, this is because financial stability is one key to day-to-day happiness. But you’ll also spend less because you’ll become more mindful of what type of spending really does make you feel happier.
Set Your Priorities
The other steps in this process to buy what you want are pretty commonsense: Save up and find ways to cut expensesc. But this is the hardest part.
In order to truly break free of the “keeping up with the Joneses” mindset, you have to set priorities. And you have to be ruthless.
Sure, you might think a new car will make you happier. After all, the guy down the street adores his. But will it really increase your happiness in the long run? Or are you better off keeping your decently-running sedan while saving up for a once-in-a-lifetime vacation?
Happiness researchers agree that spending on experiences reaps more rewards than spending on stuff. There’s also a place for investing in nice things, but the same principle applies. Don’t just throw money at the latest new thing because everyone else has it. Decide whether that item fits into your lifestyle, and make mindful purchases. You’ll spend less money and wind up with nicer, higher quality items.
In general, if your goal is to increase happiness, you’ll want to weigh your spending toward experiences. Whether it’s a college course in a subject you’re passionate about or a trip to see your parents, experiences will always be more satisfying than new things. If you can keep this focus in mind, you’ll make better spending and savings decisions for the future.
Save Up and Dream Up
As noted above, one sure way to decrease your happiness level is to plunge into debt. So don’t go into debt to head out on vacation or buy your best friend a five-star dinner.
Instead, spend time saving up for new experiences. In fact, the anticipation of a great experience is part of what makes it a happiness booster. So instead of feeling dragged down by having to save money for a few months for that round-the-world trip you’ve always wanted to take, spend time dreaming about it. That’ll make the experience all the better.
Find Good Deals
The Internet is rife with places and ways to find good deals — both on experiences and on new stuff. Before you splurge, take time to figure out how you can spend less. A little time upfront could save you loads of money, which you can then put into purchasing other experiences or nice things.
Enjoy Experiences and Things With Others
Research shows that happiness is communal. If you spend time with others, invest in relationships and even give gifts or money to charity, you’ll be happier. So before you fly solo to Fiji just to have the experience, consider taking a good friend along for the ride. You’ll get more long-term good out of the trip!
More from U.S. News
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How to Buy Nice Things and Not Go Broke originally appeared on usnews.com
