The age-old question of whether money can buy happiness has sparked countless debates, and I remember one of my first school discussions revolved around this very topic: “Does money make you happy?” Back then, the resounding answer seemed to be a clear “No,” mainly because we had heard about wealthy individuals battling anxiety and depression.
On the flip side, we’ve also seen many people with modest means leading content and joyful lives. But here’s the twist: the link between financial stress and psychological issues is solidly established. Research has pointed out that financial stress can lead to problems like sleep deprivation and relationship friction. So, could teaming up with a financial adviser actually boost your happiness?
Let’s dive into it.
Setting and achieving goals make a world of difference when it comes to happiness. Goals are like the compass that guides our psychological well-being, and they’re at the core of financial advice. Whether it’s planning for retirement, buying your dream home, or ensuring your kids get the best education, goals shape our future and give our life journey purpose and direction.
Your financial adviser can assist you in setting and plotting a course to reach these goals. And achieving those milestones can make you feel more in control, competent, and capable—a recipe for, well, more happiness.
Talking about money shifts the dial. Surprisingly, many shy away from discussing their finances. Some might think that talking about money makes it too real, while others feel embarrassed about past financial blunders or fear they’re not measuring up to others. This can turn money into a taboo subject, and that’s not a healthy relationship to have with your finances.
If you find yourself nodding along, maybe it’s time to reassess why you feel this way. Speaking with a financial adviser is an excellent starting point. They won’t pass judgment but will lend an empathetic ear and provide guidance for your financial journey. And the situation might not be as bad as you think!
Getting expert advice can lead to happiness. It might surprise you, given the media’s penchant for highlighting financial woes, but the financial advice profession is like a certified happiness generator. Yes, you heard that right—people who have sought financial advice tend to be happier than those who haven’t.
Research shows that receiving financial advice doesn’t just improve your mental well-being and bring peace of mind—it also strengthens family relationships. And let’s not forget the concrete benefits: less tax burden, reduced debt, increased lifetime earnings, and better returns on your investments.
So, it’s time to put a smile on your face. Numerous studies suggest that the primary rewards of financial advice are psychological rather than purely financial. Life is already complicated, and a financial adviser can offer a sense of certainty in this unpredictable world. They can also be your sounding board, helping to break the silence on that notorious taboo subject—money.
While financial advisers aren’t expected to be full-fledged mental health experts, the advice process does come with therapeutic benefits. For most clients, their adviser becomes a mentor, counsellor, and mediator, supporting them as they navigate the ups and downs of everyday life. In short, it’s time to embrace happiness. Don’t hesitate to reach out to your financial adviser and start the conversation!
Reach out, we are here to listen, contact: jason@rubyfinancial.co.uk
