When Is It Enough?
Today, we’re going to talk about money! That’s right - new year, new money goals. At the time of writing, I’m currently reading two “money” books for the Janes Agenda Masterplan Class. These are The Psychology of Money by Morgan Housel and Your Money or Your Life by Vicki Robin and Joe Dominguez.
The topic I want to focus on that both of these books touch on is, when is it enough? According to the authors, there’s a bell curve that we can determine when we reach this point. This is called the fulfillment curve.
At the starting point of the bell curve, you work towards buying the things you need, like getting a house or apartment, means of transportation and buying necessities like furniture and food, etc.
As you continue on, you have all the basic needs for survival so now you can purchase things that you would like to have. This might be repurchasing better quality items to replace things you no longer like, or they may be investing in things to support a hobby, such as camping, fishing, painting, etc… These are the comforts of life.
At the pinnacle of the curve, we have luxuries. This is where you have enough money to buy yourself the things you no longer need, and sometimes, they go beyond wanting. These are things like marble countertops, a motorhome, a yacht, a second vehicle or even a vacation home. These are things none of us need.
After this, the curve falls. This means that we no longer feel fulfilled by the “stuff” we have in our life. The more we buy, the less excited we are by it.
It seems to me that as long as we are on the left side of the curve, we always have goals to look forward to: get out of debt, go from renting to owning your first home, renovate your home, get a brand new vehicle, and so forth.
Once we are past the luxury stage, it would appear that a purchase is made for the adrenaline rush alone. You might not be impressed with all the toys once you have them. Or, it might just have turned into a competition of who has the biggest boat or motorhome on your block.
As I was reading the book, I noticed the authors did write from the perspective of being in a place where they knew what luxuries felt like - like maybe they had reached that point themselves and were writing from first hand experience.
Most people in the world will never know what a luxury is. From some standpoints, running water or the ability to take a hot bath whenever we want may seem like a luxury.
All of us have different perspectives on what may be a need, a want or a luxury. When doing your budget, that’s something that only you can determine. Budgeting is a very personal thing. Not many people talk about how much money they’re bringing in. All of us have different income levels. What is acceptable for one person may not be for someone else.
However, when we come back to this notion of when is it enough, there is excitement in the wanting and looking forward to. Just because we want more, doesn’t mean we have to go out and get more. The act of wanting itself is purely psychological and I’m sure there are ways you can derail your brain from the feeling. (Distraction is key)!
I sometimes ask myself how some people live such a simplistic lifestyle. Either that’s how they were their entire lives, or they used to have lots of stuff too, and just got tired of it all. “Stuff” does take a toll on a person. It sometimes can make you feel guilty, and it can be messy.
So how do we get to that point where we know enough is enough and how do we stop ourselves from over-consuming “things”. One way that I am planning to do this is to start using what I have. I will be creating a mini goal each week of using up something that I have - whether that’s planning supplies like washi tape or stickers, or, making a meal based on what I already have on hand rather than buying something new for dinner.
My main goal for 2025 is simplicity, in whatever form that takes. I’m simplifying my life - routines, meals, planning, getting rid of “things” and overall just making it easier to live and enjoy spending time with my family.
Once we reach the fulfilment level, the authors do mention a way to maintain that feeling - giving to others. Whether that’s to your friends and family, or a community group or volunteering, that’s up to you. Volunteering your time to make other feel good is going to make you feel good too.
Thank you for reading!
Sandra
