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How Cherishing Experiences Can Make You (Feel Like) a Millionaire

How Cherishing Experiences Can Make You (Feel Like) a Millionaire

This year, the holiday season is different for me, and many of the people I know. Times are tough.

Did the economy ever really bounce back? Wasn’t the world supposed to end? Is the upcoming year going to be better than the last?

But, most of all, this year is different because I’ve realized that I want more.

I Want More

This past year, I’ve come to an important conclusion: I want more out of life.

I want more out of every day—my career, my relationships, my body. I want better.

I want to feel more—fulfilled, free, happy, significant, healthy.

I want to do more to contribute, make an impact, help others, and exercise.

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I want to learn more about entrepreneurship, leadership, technology, and writing.

I want more, but there’s a problem: I’m not always sure how to go about it.  What am I to do?

The answer is easier than you’d image: choose experiences over spending.

Our lives are formed by the choices we make: we choose what to make of our lives, and how to spend them. We choose how to spend our money, and how to spend our time—nobody is taking either of things without our explicit consent. The choice to live a better life can start now—today, during this new year season.

Here’s the choice I’m making today:

I want my experiences to be front and center—not the stuff that piles up around me.

Are you with me?

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If you want more out of life, you can make a similar choice today. Choose experiences over spending on stuff and see how quickly things change.

a millionaire

    The Ultimate Test: When We Go

    I remember that my grandmother liked to repeat a saying that used to creep me out when I was small, but now it has helped to put my life into perspective more than I ever imagined. She’d say:

    “You’re not taking your gold with you to the grave.”

    I don’t think she meant to say that money isn’t important, but I definitely don’t think she meant we should go on a spending spree. After all, we do need to eat, bathe, and so on. The meaning behind her ghoulish words is closer to encouraging appreciation of what we have while we have it. Guided by this concept, it’s easy for me to make quick decisions on what I want for my life: for example, there are things in life we may consider to be too expensive, but are worthwhile:

    I want to meet amazing people, but traveling to a conference costs a considerable amount of money.

    I want to have a wonderful night with my husband, but we can’t afford to go to a fancy restaurant.

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    I want to hang out with my closest friends, but they live all over the world.

    I want to see new places, but traveling is so costly.

    My dreams about experiences I desire the most are completely quashed due to lack of funds. It doesn’t seem fair—or right.

    How about we chuck that logic and find a new way to experience a great life? How about we put money aside and create those experiences ourselves?

    I’m Not a Millionaire, But I Want to Feel Like One

    When I analyze all of the things I want to do and buy with money, I realize that what I am really trying to chase down is a feeling.

    Last I checked, we don’t pay for feelings with money. We pay for them with experiences, so let’s take those examples from above and find ways to accomplish them without spending a dime.

    I want to meet meet amazing people, so I’ll organize informal meetups at a coffee shop, and invite thought-leaders in my city.

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    I want to have a wonderful night with my husband. Who says you can’t break out of the routine at home? I’ll plan an awesome meal at home and have a ridiculously bad dance party.

    I want to hang out with my closest friends. If they’re abroad, I’ll videochat with them regularly. Being there for each other and laughing is all that matters, even if it’s not in person.

    I want to see new places. I can get to know new areas in my community, while I budget for long-distance trips.

    Sure, these modifications require some sacrifices—traveling within my community is not the same as visiting Michelangelo’s David in Florence, but it’s a good start. By focusing on the feelings I desire, I’ve changed my approach: experiences can make me feel amazing—much more than spending money. Being a millionaire must be amazing, but there’s nothing like enjoying the experiences at my fingertips.

    The feelings I desire can come true without spending the big bucks. Who knew!?

    Featured photo credit:  Young beautiful couple kissing at the sea. Wedding kiss. via Shutterstock

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    Published on July 4, 2018

    Top 10 Recommendations on Money Management Apps

    Top 10 Recommendations on Money Management Apps

    Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

    The solution is simple, save more and spend less. But, we all know it’s easier said than done.

    One problem is finding quality apps that save you time and money, and aren’t just hype.

    Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

    1. Personal Capital

      When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

      Here are some of its main features:

      • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
      • Discover hidden fees and how much they’re affecting your retirement plan
      • Wealth management for investors requiring a long-term strategy

      With Personal you’re free to track your expenses and net worth.

      Available for: iOS and Android

      2. Mint

        If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

        Here are some of its main features:

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        • Effortlessly track all your bills and balances in one dashboard
        • Categorized expenses to understand where you spend your money
        • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

        Feel at ease with managing your money by a reputable company that isn’t going anywhere.

        Available for: iOS and Android

        3. YNAB

          Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

          Here are some of its main features:

          • Easily sync all bank accounts in one place
          • Visually see your debt paying progress with eye-catching charts and notifications
          • Customized categories setting saving goals

          The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

          Available for: iOS and Android

          4. Wealthfront

            Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

            Here are some of its main features:

            • Variety of investment account options including IRA, Roth IRA, and more
            • Your portfolio composed of 7 different asset classes
            • Automatically rebalanced portfolio
            • Daily tax loss harvesting

            Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

            Available for: iOS and Android

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            5. Clarity Money

              If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

              Here are some of its main features:

              • Easily cancel subscriptions with one click
              • Synchronize bank accounts fast
              • Transfer money effortlessly between different accounts

              Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

              Available for: iOS and Android

              6. Acorns

                What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

                Here are some of its main features:

                • Automatic contribution option
                • Customized portfolio tailored to your needs
                • Low management fees ranging from $1-$2 per month

                Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

                Available for: iOS and Android

                7. Albert

                  Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                  Here are some of its main features:

                  • Receive notifications for overpayments, hidden fees, and low balances
                  • An Automatic budget that’s built around your spending and income
                  • Easily track debt and set new financial goals

                  While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                  Available for: iOS

                  8. Prism

                    Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                    Here are some of its main features:

                    • View all your account balances in one glance
                    • Bill due dates are automatically pulled and tracked
                    • Receive early reminders for upcoming bills

                    If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                    Available for: iOS, Android, Windows, Amazon

                    9. Mvelopes

                      Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                      Here are some of its main features:

                      • Connect unlimited bank accounts
                      • Real-time budgeting with auto transaction syncing
                      • Low monthly $4 fee or $40 annual

                      Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                      Available for: iOS and Android

                      10. Wallaby

                        Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                        Here are some of its main features:

                        • Automatic recommendations for the best credit card to use for each transaction
                        • A friendly user interface, displaying credit cards with their corresponding images
                        • Free to use

                        If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                        Available for: iOS and Android

                        Take control of your finances and experience financial freedom

                        Picture yourself staying on budget and saving more money than you’d ever imagined.

                        It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                        You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                        Featured photo credit: Pexels via pexels.com

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