Happiness, stress, and money

Do feelings impact finances or do finances impact how we feel?

“If we focus only on the happiness that money can bring, I think we are missing something. We also need to think about all the worries it can free us from.” Jachimowicz, professor atHarvard Business School.

Several studies- even old ones - point out that, beyond a certain annual amount, more money does not bring more happiness.Below the poverty line, more money means ensuring food, living safely, educating children, being able to go to the doctor or dentist, etc. Thus,more money means less stress, more well-being, and happiness.

After a certain economic level, more money becomes irrelevant,as it doesn't solve life's big issues, which usually involve RELATIONSHIPS. So,having basic needs met(whose complete list I included in last week's article),it doesn't matter much how much you earn, but how you spend.

We can buy time and well-being instead of things: outsource some tasks, be less busy and more productive people, spend more time doing things we like, be with those we like, etc.

But we buy things as an escape from deeper issues and needs, and then we invert the logic of money's impact on our feelings, moving to a logic of the impact of what we feel on our finances. The financial “hangover” from overflowing stress into impulsive consumption usually comes in the form of guilt or shame.

“If you try to avoid your feelings, they will become more intense", says Melanie Harned, author ofTreating Trauma in Dialectical Behavior Therapy.

Do you know exactly what you're feeling, or do you swing between “I'm fine” and “I'm bad”? Here's a list of feelings:

How we feel when our needs are not met:

distressed / dejected / agitated / flustered / bitter / anguished / anxious / apathetic / terrified / apprehensive / regretful / scared / terrorized / tormented / angry / tired / skeptical / upset / shocked / confused / dismayed / depressed / discouraged / inattentive / distrustful / uncomfortable / discontent / desperate / disillusioned / desolate / embarrassed / bored / ashamed / exhausted / frustrated / furious / hesitant / impatient / bothered / unhappy / insecure / irritated / hurt / grumpy / nervous / perplexed / awful / lazy / worried / sleepy / surprised / fearful / sad

My invitation is for you to start naming your feelings, to recognize and address them.That's emotional intelligence.And financial intelligence, for me, is knowing that more purchases and more money rarely manage to mask for long  feelings and needs that need to be addressed.

Thank you very much and see you next week!