Free Money Finance

Experiences Trump Possessions

Here's an interesting piece from CNN that says experiences trump possessions. A recent study in San Francisco just determined that, in the long run, experiences make people happier than possessions. In other words, you'll be happier (on average) taking your family to Disney World than you will be buying that $3,000 work of art. The details:

The initial joy of acquiring a new object, such as a new car, fades over time as people become accustomed to seeing it every day, experts said. Experiences, on the other hand, continue to provide happiness through memories long after the event occurred.

The most striking difference was in how participants said others around them reacted to either the purchased object or experience. Experiences led to more happiness in others than purchases did. A sense of relatedness to others -- getting closer to friends and family -- may be one of the reasons why experiences generate more happiness.

"When people spend money on life experiences, whether they also take someone with them or buy an extra ticket or whatever, most of our life experiences involve other individuals," Howell said. People were fulfilling their need for social bonding while having these experiences, he said.

Another reason for increased happiness in experiences, the researchers found, was that people felt a greater sense of vitality or "being alive" during the experience and in reflection, Howell said.  "As nice as your new computer is, it's not going to make you feel alive," he said.

Most psychologists who study the phenomenon say people adapt to a new purchase in six to eight weeks, up to a maximum of three months, Howell said. That means the initial pleasure we get from a new possession generally fades in a matter of months.

Wow, this is very, very interesting to me. Why? Because much of our society is focused on getting more "stuff" -- a new car, a new boat, a bigger house, etc. In fact, we often see these as "assets", good financial decisions that will have at least some monetary value in the future. On the other hand, we don't value money spent on experiences (like a vacation) as much since it's "gone" and has no residual value. But in fact, what brings happiness (at least according to this study) is exactly the opposite. Quite interesting indeed.

Of course you can use assets to create experiences. For instance, you can buy a boat and take your family out on it every summer to create good memories, so the issue isn't black and white. In addition, this is one study, so there's still a lot to be found out about the relationship between assets, experience, and happiness. That said, it's intriguing to me that this study found what it did.

I know that we've relived several experiences over and over again as a family. We talk about our trip to Disney, times visiting relatives, outings we've had here and there -- all these are seen as the "best" parts of our family life. I can't recall a conversation we've had that focused on something we bought and how great of a purchase it was for our family. It just never seems to come up.

And one final point: experiences don't have to be expensive. Sure, we talk about our Disney trip with fondness, but we also talk about memorable soccer games, school plays, and times with family and friends that are special to us. None of these latter experiences cost us much at all. And yet they are among our most valued memories. Very interesting indeed...

Frugal Millionaires on Health

Here's an excerpt from the book The Frugal Millionaires: 70 millionaires anonymously share their ideas about money to help each other and you. Today we're seeing what the millionaires have to say about health. I've stated that your health is more important than money and the frugal millionaires agree.

FYI, these are some representative tips from The Frugal Millionaires. There are over 800 tips in the book. The frugal millionaires are only referenced by their initials. The author signed a confidentiality agreement that the millionaires' identities would never be disclosed in exchange for them saying whatever they wanted. If they chose not to have their initials used they were given the initials AFM which is an acronym for Anonymous Frugal Millionaire.

Here's the excerpt:

Wealth is no fun without your health. With 66.3% of Americans being overweight or obese it is quite the challenge to find ways to stay healthy. (SOURCE: Center for Disease Control, 2008). There aren’t a lot of good role models around.

The frugal millionaires do everything they can to stay healthy. They know that being healthy doesn’t have to be expensive, so they find simple and inexpensive ways to get their exercise.

• AFM – “Fat, drunk and stupid is no way to go through life, son.” (From the movie Animal House)

• AFM – Without health your money is worth very little, except that it might buy you a bit more (very expensive) time at the end of the road. Make good health a priority.

• AFM – Investing in yourself is by far the best investment you can make – rest, exercise and proper fuel – this is NOT a cliché, this is an absolute fact.

• ERK – Stay fit. Work out. It doesn’t have to cost a ton.

• S&AW – This is just like saving money: be disciplined. Feeling good, looking good and having a strong financial portfolio – it’s all about a lifestyle commitment.

How You Measure Wealth

I heard this saying the other day and thought it was interesting:

You measure your wealth based on things you wouldn't trade for money (good health, great relationships, etc.)

It's an interesting concept -- and the same reason I started my "More Important than Money Category."

What's your take? Is this a good saying, bad saying, or somewhere in between?

Do You Exercise Your Brain?

So if your career is your biggest financial asset, what's the key to having a great career? I'd like to submit that your mind/brain is the vital link that enables you to have a great career. Sure, many other factors contribute, but I think it's the mind.

So that leads to this question:

What do you do to keep your mind healthy/sharp?

If your answer is "nothing" or if you do something and would like some additional ideas, here are five great games that will super charge your brain:

• Sudoku
• Lumosity
• Bloxorz
• Happy Neuron
• Chess

Studies have shown that you can keep your mind sharp by exercising it, and these five are great ways to do so.

Personally, I do a sudoku puzzle and a few chess problems every day. It's a fun way to start the day (I usually do them first thing in the morning) and a simple investment in the health of my mind.

So...what do you do to keep your mind healthy/sharp?

Guess What Makes People Happy?

I've written quite a bit about the relationship between money and happiness, so when I saw this piece about what really makes people happier, I had to post on it. The summary:

Taller people are happier on average than shorter people, with each extra inch in height giving as much satisfaction as a four percent increase in income, according to a U.S. study.

Now, here's how being tall (or short) relates to money:

The Gallup data suggested it would take a 29 percent increase in income to have the same effect on men's life satisfaction as moving from below-average to above-average height.

"Alternatively, each additional inch of height has the same effect on reported life satisfaction as a four percent increase in family income," they calculated.

But that's not the entire story:

But the Gallup Poll Daily said there were also other factors that had to be taken into account when relating height to happiness -- not least income and education.

"The main reason why taller people do better is because they have higher incomes, they are better educated, and they work in higher status occupations," said the researchers.

"People with more education have higher income and higher status jobs, and they earn more money. Money, in turn, is a powerful predictor of life satisfaction.

Ok, I'm confused. Is it height, education, the occupations people hold, or a combination of all of these that makes people happier? Or maybe none of them has an impact. Like I said, I'm confused.

Personally, I'm taller than average (6' 3"), well-educated, and have a great job. Man, I should be so happy that I could be Santa Claus! Ho, ho, ho!!!!! ;-)

How Much Would You Spend to Save Your Own Life?

Ok, I'll bite.

On my post titled How Much Would You be Willing to Spend to Save Your Pet's Life? (Part 2) a reader commented:

An equally interesting question is how much would you pay to save your own life?

Initially, it seemed to me that the answer to this question for most people would be "everything", but when I thought about it myself for a bit, I think that's too simplistic. For instance, let's say you were in an unconscious state and had 99.9% chance of staying that way. Does that change things a bit?

Anyway, seems like there will probably be lots of exceptions, but this still should be an interesting discussion.

So, what would you spend to save your own life?

Two Things Needed to Be Happy in Life

I was recently listening to a podcast interview with Joe Gallo from the Ernest and Julio Gallo wine-making family (I think Joe is the son of Ernest.) Anyway, he said that in order to be happy in life you need two things (I'm paraphrasing here, these aren't exact quotes):

• Work that you enjoy doing
• A happy marriage

He said that some people have one or the other and they usually aren't happy (and the ones with neither are not happy as well), but that most people with a good career and a good mate are pretty happy.

Funny how he doesn't say anything about money -- though having a good career/enjoying your work could imply earning at least a decent salary.

Anyway, what do you think of his statements? Are they correct, off base, or somewhere in between?

Key to Happiness: Low Expectations

Anyone see 60 Minutes last night? It re-ran a story on the happiest countries in the world. Denmark placed first, but no one knew why. Then a researcher started to investigate:

After careful study, Christensen thinks he isolated the key to Danish anti-depression. "What we basically figured out that although the Danes were very happy with their life, when we looked at their expectations they were pretty modest," he says.

By having low expectations, one is rarely disappointed.

Ben-Shahar says Americans could learn a lot about happiness from the Danes. "It is about having realistic expectations. It's about not trying to fit in more than we can handle. We can't handle it all. We can't have it all. But we can have a lot," he says.

In other words, their expectations are lower so they're more likely to meet them and thus more likely to be happier. They also place a greater emphasis on friendships:

"The number one predictor of well-being is close friendships and close relationships in general, which includes of course, family relationships. Much better predictor of well-being than affluence is," Ben-Shahar says.

So what does "success" look like for the Danes? Here's what makes many of them happy:

"Well, in order to see myself as a success I would want to be happy and have a lot of time with my family. I think that's very important to me. And the money is not that important," he replied.

"It is more about the softer values, such as not being stressed, and feeling passionate about what I'm doing. 'Maybe this job is not gonna pay me a lot of money. But I'm gonna love getting up and doing it every day,'" another said.

Asked if one can equate money with happiness, a man told Safer, "No."

"If you have a sufficient amount of money, then I don't think it will make you a lot happier to get really rich. And we're already at a good level here in Denmark. So I don't think we'll be happier if we increase our wealth," another remarked.

Note that there's less of an emphasis on making a ton of money that what most people would expect. At least less than what most Americans would expect.

BTW, America placed 23rd on the list. Here's the advice they had for the U.S.:

Asked what he would advise Americans to do, the man said, "Well, okay. I have an advice. Don't depend too much on the American dream. Yeah. I think you might get disappointed."

Ha! I'm interested in hearing your take on this. The piece was certainly thought-provoking. So which is better -- shooting for the top and missing it or "settling" for something less and being happy?

Your Money or Your Life

Here's a summary of chapter 11 from 50 Prosperity Classics: Attract It, Create It, Manage It, Share It (50 Classics). This chapter is written by Joe Dominguez and Vicki Robin.

Key Quote

"So much dissatisfaction comes from focusing on what we don't have that the simple exercise of acknowledging and valuing what we do have can transform our outlook."

Summary of the Chapter

By living on less, you can actually enjoy life more.

My Thoughts on This Subject

1. A key thought that comes through in this book: spend less than you earn.

2. many people talk about how spending money on things they like makes life worth living. This book takes the opposite view -- have less stuff, be thankful with what you have, and you'll be happier.

3. The amount you actually need to be happy is a lot lower than most people think.

4. The chapter also goes on to discuss the time/money trade-off and that most people want more time, not more money. But are most people really ready to give up money for time? Not that I can see.

How to Be Happy

A new study on happiness just came out and -- surprise -- much of being happy doesn't have a strong connection to how much money you have. There is, of course, some connection between money and happiness, for example:

Women, folks under age 65, those divorced or separated, lower-income earners and the less educated were likely to spend a bigger chunk of their day in an unpleasant state.

Note the "lower-income earners." Having some money, up to a point, makes people happier. (BTW, note that less educated and lower-income are going hand-in-hand here -- another vote for getting a good education.)

So if money isn't the key to happiness, what is? Some thoughts:

What I found most intriguing was the study's data on which activities we enjoy. The five professors grouped activities into six clusters, based on the emotions associated with each.

The standout cluster was what the authors label "engaging leisure and spiritual activities," things like visiting friends, exercising, attending church, listening to music, fishing, reading a book, sitting in a cafe or going to a party. When we spend time on our favorite of these activities, we're typically happy, engrossed and not especially stressed.

But instead of spending MORE time on these sorts of activities, most people are actually spending LESS on them -- and more time on what's been found to not generate as much happiness:

Both men and women had the chance to lavish more time on "engaging leisure and spiritual activities." But in fact, time spent on these activities has actually declined over the past four decades.

Instead, there's been a significant increase in the hours devoted to what the authors call "neutral downtime," which is mostly watching television. Women now spend 15% of their waking hours staring at the tube, while men devote 17%.

Watching TV may be low-stress and moderately enjoyable. But people aren't mentally engaged the way they are when they're, say, exercising or socializing.

"I wonder whether there are self-control problems when it comes to watching television," muses Prof. Krueger, an economist at Princeton University and another of the study's co-authors. "I wonder whether people would feel better about their lives if they spent their leisure time doing something that was more interactive and more engaging."

Given these findings, is it any wonder that so many people seem to be so unhappy? Do you think the curse of the 42-inch big screen is catching up with us? ;-)

Can Money Buy Happiness?

The following is an excerpt from the book DoesYour Bag Have Holes.

Some say that money is not important at all. Money is not most important in our lives, but it is important. Money enables the fulfillment of needs, the needs of others, and to fulfill life’s missions. We all have the following six needs of life and money plays a key role in fulfilling each of these needs.

1. Survival -- Food, water, clothes, and shelter are necessary to stay alive. Each of these needs cost money.

2. Security -- Our need for security can be fulfilled with money. A person who is without debt and has money set a side for emergencies will feel much more security than the person who has debt, can barely pay the bills, and has no extra funds for possible expenditures that might arise, such as car repairs or medical expenses.

3. Family and Friends -- Money can assist us in fulfilling our need for family and friends by enabling us to spend more time with them instead of having to work all the time. Money certainly matters when your children have sporting events or music recitals you have to miss because you can’t take off work due to financial obligations.

4. Personal Growth -- My son began preschool at the age of 4 and his learning and growth has been amazing to watch. It requires money each month for me to pay for his tuition. As I have taken on the challenge of writing this book, I have attended seminars and purchased books about writing and publishing to help me learn and grow. If I did not have money, these options would not have been available.

5. Charity and Service -- “Most of us would like to make a positive impact on the lives of others and on our world. If we do not feel that this is in some way happening, we tend to experience a sense of emptiness, low self-worth, futility, and sometimes even depression.” (Herb Miller, Money Is Everything, (Nashville: Discipleship Resources, 1994) p. 19) We each have been given special gifts and talents from God, which only we possess. There are specific ways in which each of us are to contribute to society. To help people discover their mission I have them answer this question, “If you had unlimited time and money, what would you do?” Before you read on, answer this question for yourself.

I believe everyone is born with a God-given mission they are to perform. Many people do not fulfill their mission because they never have the time or money to do so. These people are too busy making a living to make a difference. They work their entire lives just to meet their survival needs and then die without fulfilling their missions. Talents are not developed and utilized to improve the world because they were too busy focusing on surviving. God did not send us to earth to be born, pay the bills, and die. God sent us here for a purpose. Don’t die with your mission still in you. Leave a legacy.

6. Recreation -- Life is best enjoyed when we take time for recreation. Thomas Jefferson taught, “Leave all the afternoon for exercise and recreation, which are as necessary as . . . learning.” John Wanamaker wrote, “People who cannot find time for recreation are obliged sooner or later to find time for illness.” Recreation is a source of renewal and rejuvenation that will increase our efficiency and productivity on other tasks. One of my favorite recreational activities is golf—golf clubs and green fees come with an expense. Family vacations are a great form of recreation, which many are unable to enjoy because they don’t have the money.

Can Money Buy Happiness?

I often hear people say, “Money can’t buy happiness.” This is a bad argument. It is like saying, “Money can’t buy modesty” or “Money can’t buy wisdom.” Ultimately, these statements are true because modesty, wisdom, and happiness are not purchasable items. So it is true that money can’t buy modesty, but it can buy clothes. Money can’t buy wisdom, but it can buy books and education. Money can’t buy happiness, but it can help you fulfill your life’s needs, bringing you increased happiness. Research has shown that “financially independent people are happier than those in their same income/age cohort who are not financially secure.” (Thomas J. Stanley, William D. Danko, The Millionaire Next Door, (New York: Simon & Schuster, 1996) p. 46)

Someone once said to me, “We don’t have a lot of money, but we are happy. You have a lot of money, so remember that money can’t buy happiness.” This person was worried that my money was going to make me unhappy. I responded by saying, “I understand what you are saying, but poverty won’t buy happiness either.” Happiness is not a result of riches or poverty, and there are varying degrees of happiness. Happiness comes as needs are fulfilled and by simply making the personal decision to be happy. I was happy when I was poor, and I am still happy now that my income has increased. With increased income, I have been able to fulfill more personal and family needs, which have resulted in increased degrees of happiness.

How to Have a Better, Longer, More-Fulfilling Life

Kind of an interesting title isn't it? Wondering why you'd see something like this on a financial blog? Because the answer is related to our personal finances (indirectly, but still related.)

I've been reading the book Why Good Things Happen to Good People: The Exciting New Research that Proves the Link Between Doing Good and Living a Longer, Healthier, Happier Life. Here's a quick summary of it:

Surprising new scientific research conducted at many of the nation’s top universities—from the likes of Harvard, Princeton, Yale, Stanford, and the University of Chicago—now offers convincing evidence of the life-enhancing benefits of giving, kindness, and compassion.  These studies powerfully confirm that giving has a substantial protective effect on mental and physical well-being over a lifetime.  Giving is powerful medicine, and it’s available to every single one of us.

In WHY GOOD THINGS HAPPEN TO GOOD PEOPLE, the exciting new research shows that when we give of ourselves, especially if we start young, everything from life-satisfaction to self-realization and physical health is significantly affected.  Mortality is delayed, depression is reduced, and well-being and good fortune are increased.

The remarkable findings include a fifty-year study indicating that people who are “giving” during their high school years have better physical and mental health throughout their lives.  They even reveal that giving protects overall health twice as much as aspirin protects against heart disease!  Other studies also demonstrate that people of all ages that help others on a regular basis, even in small ways, feel the happiest.

Together both Post and Neimark proclaim they have one simple message to offer: giving is the most potent force on the planet.  Giving is the one kind of love you can count on, because you can always choose it; it’s always within your power to give.  Giving will protect you your whole life long.

From the book's site:

A longer life. A happier life. A healthier life. Above all, a life that matters—so that when you leave this world, you'll have changed it for the better. If science said you could have all this just by altering one behavior, would you?

Dr. Stephen Post has been making headlines by funding studies at the nation's top universities to prove once and for all the life-enhancing benefits of giving behavior. The exciting new research shows that when we give of ourselves, especially if we start young, everything from life-satisfaction to self-realization and physical health is significantly affected. Mortality is delayed. Depression is reduced. Well-being and good fortune are increased.

The inspiring new research includes a fifty-year study showing that people who are giving during their high school years have better physical and mental health throughout their lives. Other studies show that older people who give live longer than those who don't. Helping others has been shown to bring health benefits to those with chronic illness, including HIV, multiple sclerosis, and heart problems. And studies show that people of all ages who help others on a regular basis, even in small ways, feel happiest.

Why Good Things Happen to Good People offers ten ways to give of yourself, in four areas of life, all shown by science to improve your health and even add to your life expectancy. (And not one requires you to write a check.) The one-of-a-kind "Love and Longevity Scale" scores you on all ten ways, from volunteering to listening, loyalty to forgiveness, celebration to standing up for what you believe in. Using the lessons and guidelines in each chapter, you can create a personalized plan for a more generous life, finding the style of giving that suits you best.

So what are the specific findings they keep talking about? Here's a summary:

• Giving in high school predicts good physical and mental health in late adulthood, a time interval of over 50 years!

• Giving significantly reduces mortality in later life. In this new study from Doug Oman of the University of California at Berkeley, 2,000 individuals over age 55 were studied for five years. Those who volunteered for two or more organizations had an impressive 44% lower likelihood of dying. The only activity that had a slightly higher effect was to stop smoking. And sociologist Marc Musick of the University of Texas at Austin found that individuals over 65 who volunteer are significantly less likely to die over the next eight years than those who do no volunteer work.

• Generous behavior reduces adolescent depression and suicide risk.

• Giving quells anxiety.

• Late in life, giving to others helps facilitate self-forgiveness.

• Giving to others increases your longevity, although receiving the same kind of help did not. Psychologist Stephanie Brown of the University of Michigan spent five years studying 423 older couples. After adjusting for age, gender, and physical and emotional health, Brown found that those who provided significant support to others were more than twice as likely to remain alive in that five year period. These surprising findings ruled out other factors like personality, health, mental health and marital relationship variables.

• Giving is so powerful that sometimes even just ‘thinking’ charitable thoughts helps us. The simple act of praying for others, Neal Krause found, reduces the harmful impact of health difficulties in old age for those doing the praying. A new study from the National Institutes of Health shows that merely making a decision to donate to a charity increases activity in parts of the brain that release our feel-good chemicals, dopamine and serotonin. And a new Harvard University study showed that just watching a movie of helping activity boosts the immune system.

If you'd like to read more on this topic, here are some thoughts on giving from the co-author.

I'm still processing much of what the book has to say, but here are my initial thoughts:

1. For the most part, the giving they're talking about isn't financial, it's giving of yourself (volunteering, serving, simply doing acts of kindness, etc.) That said, there are some references on the power of giving money in the book.

2. This data is simply incredible! The only activity that had more of an impact on mortality was stopping smoking? Amazing!

3. If this is true, my wife will live to be 389 years old.

4. Personally, we give of both our money (tithes and offerings) as well as our time (we both serve on the board of a non-profit, I also volunteer as my son's basketball coach, my wife sings at church and teaches the 4th and 5th graders.) I never thought about it potentially making us live longer, better lives. But we have always had a "good feeling" about helping others, so maybe we were experiencing the benefits of giving.

For more thoughts on the subject of giving from me, check out these posts:

• The More You Give, The More You Receive

• Does Giving Help Make You Wealthy or Are You Wealthy in Spite of Giving?

• How You Can Give to Others with Little Cost

What's your take on this issue?

What Money Can Buy: A Womb for Rent

Just when I think I've heard it all, something like this comes along.

Most of us are familiar with the fact that many jobs (such as phone customer service/tech support) have been moved to India. And I've posted about how people are now traveling to India for major medical procedures. But these things are not the only services being farmed out to India. The latest job outsourced? Surrogate mothers. The details:

A team of maids, cooks and doctors looks after the women, whose pregnancies would be unusual anywhere else but are common here. The young mothers of Anand, a place famous for its milk, are pregnant with the children of infertile couples from around the world.

The small clinic at Kaival Hospital matches infertile couples with local women, cares for the women during pregnancy and delivery, and counsels them afterward. Anand's surrogate mothers, pioneers in the growing field of outsourced pregnancies, have given birth to roughly 40 babies.

More than 50 women in this city are now pregnant with the children of couples from the United States, Taiwan, Britain and beyond. The women earn more than many would make in 15 years. But the program raises a host of uncomfortable questions that touch on morals and modern science, exploitation and globalization, and that most natural of desires: to have a family.

Here's an actual example of a case:

Ritu Sodhi, a furniture importer from Los Angeles who was born in India, spent $200,000 trying to get pregnant through in-vitro fertilization, and was considering spending another $80,000 to hire a surrogate mother in the United States. Then, on the Internet, Sodhi found Patel's clinic.

After spending about $20,000 -- more than many couples because it took the surrogate mother several cycles to conceive -- Sodhi and her husband are now back home with their 4-month-old baby, Neel. They plan to return to Anand for a second child.

Here's the benefit to the surrogate:

Suman Dodia, a pregnant, baby-faced 26-year-old, said she will buy a house with the $4,500 she receives from the British couple whose child she's carrying. It would have taken her 15 years to earn that on her maid's monthly salary of $25.

And a few more details:

The surrogate mothers and the parents sign a contract that promises the couple will cover all medical expenses in addition to the woman's payment, and the surrogate mother will hand over the baby after birth. The couples fly to Anand for the in-vitro fertilization and again for the birth. Most couples end up paying the clinic less than $10,000 for the entire procedure, including fertilization, the fee to the mother and medical expenses.

Health experts expect to see more Indian commercial surrogacy programs in coming years. Dr. Indira Hinduja, a prominent fertility specialist who was behind India's first test-tube baby two decades ago, receives several surrogacy inquiries a month from couples overseas.

This simply raises so many questions -- I don't know where to start. Or end for that matter.

While I process it, here are my initial thoughts:

1. Why are people so fixated on having a baby "of their own" when there are so many needy children already born that need to be adopted?

2. Maybe the answer to #1 now has to do with cost. $10k for a surrogate in India can be much cheaper than many adoptions. Wow, that really changes the "game".

3. Being a surrogate just once can change the Indian woman's life forever. Imaging if you found a job where you could "work" for nine months and get paid 15 times your salary. Assuming the average American makes $50,000 a year (I'm not sure this is right, but it's close enough), that means it would be the U.S. equivalent of earning $750,000 for nine months work. Would that change your life? Probably.

4. How about the moral/ethical side of this? Yeah, it's strange going all the way over to India, but we have surrogates over here, so that part of the equation is accepted. Is it the fact that the Indian women are generally poor that adds somewhat of an "ick" factor? Does it seem like they are being exploited? Is this any different than U.S. surrogates?

So much to consider...

You Only Need $40,000 a Year to Be Happy

Here are some thoughts from pages 169-171 of Brazen Careerist: The New Rules for Success (a book I liked very much) where the author says that all you need to make to be happy is $40,000 a year. She starts with this:

Looking for happiness through financial success? Wondering what the magic number is? It's $40,000. Really. So pick a job you are going to enjoy instead of one that makes a lot of money -- just be sure your job will get you to that $40,000 mark.

In fact, this salary guideline is well established in research: the first $40,000 makes a big difference in a person's level of happiness. Happiness is dependent on being able to meet basic needs for food, shelter, and clothing. After meeting those needs you have to turn to something other than consumerism, because additional money has negligible impact on how happy you are. Your level of happiness is instead largely dependent on your outlook.

She then goes on to detail how she and her husband (plus one child) lived in New York City (a few years ago) on less than $40,000 for more than a year. And if you can make it there on $40,000, you can make it anywhere on $40,000.

We've talked a lot about the relationship between wealth and happiness and she's right -- after a certain point, more wealth doesn't lead to more happiness. But is that point $40,000? I would have guessed it was more like $60,000.

Now I know I'll get some comments on how you simply can't live on $40,000. Oh yeah? Check out How to Get Rich on $20k a Year and How to Grow Your Net Worth When You Don't Make a Lot of Money. And on the other end of the spectrum, some people can't even make it on a huge income. See It's Still Not What You Make But What You Spend and It's Hard to Save Money On Only $250,000 Income for details. So it's clear that some people can make it on very little and some (most?) can't make it on what others would consider a fortune. As such, it seems to me that what you can actually live on is more of a matter of discipline than anything else.

But back to the topic at hand -- what do you think about the happiness/$40k relationship? Is that really all anyone needs to be happy? Or maybe money isn't related to happiness at all? Tell us all what you think.

Gaining the Whole World Yet Losing What's Most Important

If you read Free Money Finance during the weekday, you know how much I like most of Penelope Trunk's career advice. She's got good, solid, practical advice that works in the real world. So many career "experts" are out of touch with the key issues (and thus the associated responses) in the workplace today. Trunk is not like that. She knows what is going on in companies and dishes out no-nonsense advice that will help those who take it make the most of their careers.

In addition, she's a big-time author and columnist. Her book Brazen Careerist: The New Rules for Success seems to be everywhere and is a very good read (I recommend it highly for those of you interested in advancing your career.) She appears to be popular, famous, and on top of her game professionally. In other words, it seems as if she has it all together.

"Seems" is the key word.

While her professional life is skyrocketing, Penelope's personal life is collapsing. She blogs about her marriage problems quite frequently, detailing the unraveling of a once great relationship. Her entries on the subject make for compelling reading, but I can't help but ache for her and her husband every time I read one of them. I so hope they are able to put the past behind them and move on.

In thinking of her professional career and how it contrasts to her private life, this verse keeps playing in my head over and over again:

What good will it be for a man if he gains the whole world, yet forfeits his soul?

Matthew 16:26 (New International Version)

No, we're not talking about her soul in this case, but the main sentiment of this verse holds true for her -- and for us all. What good is it to be successful in our careers, to earn and accumulate tons of money, and to be well-thought-of by our peers, if our family life is sacrificed as a result? Of course, the answer is that it's not a worthwhile trade-off at all. We've simply substituted what appears to be success at the cost of what really matters most -- the love of fellow human beings.

I'm not saying Penelope has done this -- that she's sacrificed her marriage in order to become successful -- but what I am saying is that all the talk we do about money, growing your net worth, and the like (and I do more of it than anyone I know) is important, but there are many, many, many more things much more important than becoming wealthy. I consider this post a reminder to myself to always keep the first things first.

How to Decide Who Gets Your Kids When You Die

I know, I know. This is a real downer of a subject. But money talk can't be all smiles and laughter -- you have to deal with some really hard issues some of the time. And since we'd all probably agree that our kids are MORE important than money, considering the subject of who they go to in case of your death is certainly time well spent.

MSN Money has a few thoughts on how to decide who gets your kids when you die. A few of their suggestions I found worthwhile:

• Lower your expectations. Be real: Is there anyone on the planet, including your spouse, whose parenting skills are perfect in your eyes? So why are you expecting perfection from a guardian? What you want is someone who will love your kids and raise them with the values that are most important to you.

• Widen your net. Many people pick family members to be their children's prospective guardians, but that's not the only option. Good friends, especially those who already have kids, might be a better choice in some situations. A neighbor could be a workable option for an older child who might otherwise have to be uprooted and moved across the country.

• Pick someone "for now." It's OK to have a "placekeeper" guardian, somebody who'll do in a pinch or whom you fully plan to replace eventually. Children and relationships change, and you can alter your will later to name someone else.

• Keep the money separate. Occasionally, there are folks who are great with money and great with kids, but the skill sets don't necessarily go together. It's perfectly acceptable, and often preferred, to choose someone other than the guardian as trustee of the kids' assets (any money, property and life insurance proceeds they'll inherit should you die).

We've applied several of these in our will including:

• We picked friends as the primary guardians. They have kids, share our same values, and are about the same age as we are. Everyone in both of our families are either too young/old, not good with kids, or wouldn't be decent parents. So we talked to this couple friend of ours, got their permission, and put them in our will.

• We put our money for the kids in the hands of my parents (in other words, someone separate from the guardians.) As the article notes, people who are great with kids aren't necessarily great with money -- not that my parents are either, but at least we'll have a couple people involved in managing how the kids are provided for.

• When we made our will a few years back (we're due for an update), we set an executor (a family member) who was older and likely not going to outlive us. This was the "placekeeper" noted about above and at our will's next updating, we'll probably decide to assign a new executor.

For more on the issue of wills and planning how your estate is distributed, see these posts:

• Benefits of a Will

• You Still Need a Will

• What Happens When You Die Without a Will

Wisdom is More Valuable than Money

I have a whole category here titled More Important than Money. The posts in this category discuss things like good health, family, children, and so on. But today I want to add another item to the list: wisdom. Consider this from the New Living Version of the Bible:

Wisdom is more valuable than gold and crystal. It cannot be purchased with jewels mounted in fine gold. Job 28:17

I batted around a few ideas on how to discuss this issue (such as the difference between knowledge and wisdom, how you know if you're wise or not and so on), but I think I'll just give you a few of my thoughts on the topic and then let you all add yours. Here's my take on the whole relationship between wisdom and wealth:

1. No amount of money can buy wisdom. You can have all the money in the world and still not be wise (though you can be knowledgeable or you can hire those with wisdom.)

2. With wisdom, you can (usually) get money. In fact, many wise people are well off.

3. Wisdom can also help you live a more meaningful and fulfilling life -- certainly something that is more important than money.

And a few more thoughts on wisdom from the NIV:

Blessed is the man who finds wisdom, the man who gains understanding, for she is more profitable than silver and yields better returns than gold. Proverbs 3:13-14

Pride only breeds quarrels, but wisdom is found in those who take advice. Proverbs 13:10

By your wisdom and understanding you have gained wealth for yourself and amassed gold and silver in your treasuries. Ezekiel 28:4

Your thoughts?

Does Money Buy Happiness?

Here's round 372 (or at least it feels that way) of the "does money buy happiness?" debate. AI don't think I've ever seen anything reliable that says the more money you have, the happier you are. But I have seen studies saying that the more money you have up to a point, the happier you are. After that, more money doesn't bring more happiness. This article from Newsweek details this money/happiness relationship:

Wealth increases human happiness when it lifts people out of abject poverty and into the middle class but that it does little to increase happiness thereafter.

That's at the beginning of the piece. Throughout the rest of the article, Newsweek argues that there is no relationship between money and happiness. I'll let you read through their various arguments yourself, but the title of the piece is "Why Money Doesn’t Buy Happiness," so you can guess where they end up.

I'm with the former idea myself. I think money does make people happier up to a point and after that, it doesn't do much to make them any happier. What's your take on the issue?

More Important than Money: Life

Yesterday I highlighted a piece titled Ten Small Things That Can Add Big Years to Your Life when talking about pets. Today I'd like to cover all the tips listed in this piece since living longer is something most people would place above money in importance. Here's their list:

• Daily Workouts
• Not Smoking
• Owning Pets
• Eating Wisely
• Having Good Friends
• Laughing
• Being Nice and Positive
• Meditating
• Taking Time to Relax
• Doing Yoga

And here's the conclusion of these ten:

The majority of above mentioned ways to increase life have a common theme: reducing stress adds years to life.

Here's how I score on these:

1. I don't workout daily, but I do work out four times a week for at least a half hour.
2. I don't smoke. Yuck.
3. I don't own a pet currently, but my kids are chipping away at my wall of resolve. ;-)
4. I do eat fairly well, thanks to my wife.
5. I have several good friends and...
6. ...we laugh a lot together.
7. I consider myself nice and positive, though some of you might disagree with that. ;-)
8. Meditating? Does thinking good thoughts while falling asleep at night count?
9. I take regular times to relax (such as our recent trip to Disney), but probably less than I should.
10. Ha! I get a backache just looking at some of those poses!

I do several other things that decrease stress in my life: grow roses, coach my son's basketball team (it's usually stress-free), read, etc. And to be quite honest, my finances are a source of zero stress. Applying the principles I talk about here regularly has left me debt free and with a solid net worth that allows me to be completely unstressed about my money. I hope everyone reading this can either say the same thing or someday will be able to say it.

How about you? What do you do to decrease stress in your life?

Would You Pay $45,000 to Live Seven More Years?

Stick with me on this one. It's a bit of a round-about post, but I think you'll see where I'm coming from by the end.

I've posted a ton on the cost of pets and have come to the conclusion that a pet costs roughly $1,000 a year. Bigger dogs may cost more, a hamster will cost less, but I use $1,000 as a nice, round number to work with. And I know that none of you spends this much each year, but someone is spending a ton because those are average numbers. But we're not here to talk about that issue today anyway. For now, let's just all agree that a pet costs roughly $1,000 per year.

So, if you had a pet from the time you were out of your parents house (we'll say age 22) until age 67, this would give you a pet for 45 years (I'm assuming three pets that live 15 years each, but you can plug in your own assumptions here.) In this case, those pets would have cost you $45,000.

I was watching a commercial for AIG Insurance the other day when they flashed a startling fact on the screen -- that owning a pet can extend your life by seven years. Of course, I was skeptical of this claim, but knowing what I do about advertising and big companies, I knew they weren't making it up -- they had to have some sort of reasonable back-up for this claim. So I emailed them and asked where they came up with it. They emailed me this link on Ten Small Things That Can Add Big Years to Your Life (which I'll probably cover in more detail on a later post) which includes the following:

Several studies have shown that owning a pet lowers a person's blood pressure, increases self-esteem in children, decreases the mortality rates of heart attack victims, decreases cholesterol, decreases depression, relieves stress, and increases family happiness. Pets also make people, particularly younger people, more likely to participate in extracurricular activities. On a whole, research predicts that those who own pets will outlive those who don't by an average of seven years.

Here's that last sentence again:

On a whole, research predicts that those who own pets will outlive those who don't by an average of seven years.

Ok, so let's put it all together. Owning a pet during your adult years will cost you $45,000. Owning a pet during your adult years will add seven years to your life. Therefore, for a $45,000 investment, you can get a pet and expect to add seven years to your life.

Sounds like a good deal to me. What do you think?

What Makes Life Worth Living?

This Kiplinger piece gives some advice on what to do to rejuvenate your career. It details the story of a guy that has worked all his life to get a big job with a big salary and then wonders, "Is this all there is?"

Kiplinger offers some suggestions for dealing with this sort of situation and two of them made me start to think of another topic. Before we get to that, here are the two suggestions that got me started:

Take on an exciting avocation. There is more to life than work. Find a new hobby or resurrect an old one, volunteer for a cause you believe in, make a concerted effort to meet Mr. or Ms. Right, host a TV show on public access TV. I, for one, have recently become a play director. My production of Same Time Next Year opens this Friday. Being a part of something beyond yourself can bring clarity and purpose to your life.

Find faith in something. I'm often surprised by the number of high-level employees and entrepreneurs who find that religious faith adds great meaning to their lives. They believe they are God's instruments and they find purpose in doing His work here on earth. Even if you're an atheist, developing spirituality about your career or finding faith in a mission can be a powerful motivator.

After reading these, I thought that it's these sorts of things -- a great hobby, spare time with family, a religious faith -- that make life worth living. What's the use in killing ourselves to make more, invest more, save more and the like if we hate our lives? What a waste.

Here are a few of things I enjoy in life:

• My family
• My faith
• Bicycle riding
• Volunteering for a charity
• Growing roses
• Football
• Coaching my son's basketball team

There are several more, but I'll cap it here and let you share your list. What makes life worth living for you?

Which is Better: Joining a Gym or Working Out at Home?

I've discussed various health-related topics here at Free Money Finance such as the fact that you are your greatest asset, your health is more important than money, and the most cost effective ways to stay in shape, but I haven't tackled the issue of working out at home versus at a club.

Bankrate asks which option is better for you and answers with this statement:

Whichever one keeps you moving.

They list a series of questions you should ask yourself about working out at home versus in a gym including:

1. What is it you like to do? 
2. What do you have access to now?
3. Are the facilities convenient?
4. Do you like a communal atmosphere?
5. What times do you plan to workout?
6. What's your goal?
7. Can you try before you buy?

Of course, cost is a major consideration, and Bankrate has a different article that lists typical costs of various pieces of exercise equipment.

My workout options include a treadmill and the dreaded Sears elliptical in my basement and my road bike in the garage (I put it on a trainer in the basement in the winter.) Personally, I prefer the home gym idea because of the convenience. I can walk downstairs and be exercising in a few minutes. I don't have to drive anywhere, fight any crowds, and deal with anyone. I can watch what I want on TV, listen to my iPod, or even play video games while I work out. It's very nice.

That said, I'm thinking of joining an indoor pool as I'd like to swim a couple times a week in the winter to keep my biking fitness up. We have a new, Olympic-size pool near our home which I can join for $115 per year. It seems like a great deal to me and will give me yet another exercise option to consider.

Which of the two options do you prefer? Why?

Timeless Money Rules: Taxes, Giving, and Things More Important than Money

Money magazine has a series on 20 timeless money rules that's pretty interesting. This is the last day I'll be sharing a few of their ideas as well as my thoughts on them. The first one for today is to pay only your share of taxes. Money's thoughts:

So take full advantage of tax-deferred benefits at work, like 401(k)s and flexible spending accounts. Stick with tax-efficient investments like index funds. And claim every deduction you're entitled to. According to the Government Accountability Office, taxpayers who could itemize but chose not to ended up overpaying by $450. Don't be one of them.

I hear them loud and clear on this one. I'm willing to pay my fair share of taxes, but I don't want to pay a penny more. that's why I see using a CPA for my tax returns as an investment that's very worthwhile.

Next, Money says to give:

Identify a cause that really speaks to you. Then devote most of your energy and charitable dollars to the organizations that best support it.

And who knows, maybe giving money is the key to prosperity.

Money ends the series by saying we all should keep money in its place. Their thoughts:

People who say they value money highly report that they are less happy in life than those who care more about love and friends. Enough said.

My take on this is that there are a ton of things in life that are more important than money. A few of them:

• Good health

• Sharp mind

• Your kids

• Time

Can You Get Healthy by Buying a Dog?

Ok, I've highlighted the excesses of some people when it comes to their pets, so now I'll give equal time to a positive pet-related story.

I recently found this post that highlights a couple studies saying dog ownership contributes to a person's good health. The details:

Dog ownership appears to have "a positive influence on health," according to a research review in the British Journal of Health Psychology. The author, Dr. Deborah Wells, found that while pet owners were healthier in general, dog owners in particular got more of a boost than other pet owners.

She discovered that dog owners had lower blood pressure and cholesterol, fewer minor physical ailments, and were less likely to have serious medical problems.

Another study of dog ownership and physical activity out of the University of Western Australia found that dog owners were 68% more likely to get the recommended amount of physical activity per week than non-owners. People with dogs racked up about 55 minutes more exercise a week.

So look at it this way:

1. Being healthy is more important than money. Why? Because if you're not taking care of yourself you're in danger of losing your greatest financial asset. And if you really don't take care of yourself, you end up dead -- that's even worse. (For ideas on how to become healthy, check out Your Greatest Asset: You and The Most Cost Effective Ways to Stay in Shape.)

2. Pets can cost a bundle but they can also save you money. And as many people have pointed out, they offer love and affection that you can't put a price tag on (or at least most people can't.)

3. So, maybe having a pet is a good financial deal after all, huh?

I guess in the end I agree with the author of the blog post linked above when he says:

Bottom line: A relationship with a dog can be more than just "healthy" -- it can be deep, life-affirming, even profound. That is, if you want a dog.

If you just want a piece of exercise equipment, then you're probably better off buying a treadmill!

Help a Reader: How Much is 90 Minutes a Day Worth?

I recently received this email from a reader:

I have found myself with two job offers that I must decide between. The first job pays $12,000 more per year but is a 40 mile (1 hour) commute.  The other is only a 10 mile (15 minute) commute.  Both jobs are essentially the same from a career standpoint.  The question really comes down to this, "Is $12,000 a year worth the extra commuting costs and losing 90 minutes per day with my family?"  I would love to get others thoughts on this, it is a tough decision from me at this point.

I emailed him back with the following question:

One question: do you mind telling me the actual salary numbers? The answers/suggestions might be different if we're talking $40,000 or $28,000 versus $112,000 or $100,000.

His response:

$57,000 v. $69,000 (essentially a 21% "jump" for the longer commute, or 17% pay cut if you look at it that way), paying down student/car loans aggressively, 2 children, etc.

So there you go. It's a tough issue. On the one hand, $12,000 extra per year will be part of his pay from here on out. His annual increases will be based on an extra $12k per year and if he takes another job, his new job will factor in that extra $12k per year when they make him a new (better) offer. On the other hand, 90 minutes a day is a TON of time -- not to mention an expense.

What would you suggest he do?

Fountain of Youth Discovered?

The following is a post from a reader who's a CFP and blogs at Swimming Upstream to Wealth:

Ever since Ponce De Leon set sail to discover the fountain of youth, people have dreamt of eternal youth. This quest has inspired authors, moviemakers, artists, and an entire industry of opportunistic shysters. While these charlatans push magic pills, organic hormones, and surgical procedures, the fountain of youth may be right in front of our faces.

Mental Jumping Jacks

Study after study has shown that those who continue learning increase longevity. While ample retirement assets and health insurance assist in this endeavor, these factors pale in comparison to remaining mentally engaged. In 2003, the New England Journal of Medicine released a study revealing that seniors over the age of 75 who continued to actively read staved off Alzheimer’s and dementia better than those who failed to flex their mental muscle. Any activity that engages the brain helps. It can be a crossword puzzle, a second language, or the latest craze, Suduko.

Opportunities Galore

Today, retirees have more opportunities than ever to study.  Most community colleges, and even four year universities, are offering discounts for seniors. Online universities are especially targeting the leisure student with their programs.

Even better, many of the most respected schools in the nation are now posting their coursework and professor lectures online for free. MIT, Notre Dame, and Berkeley have already posted several courses for download, covering topics from history to religion to quantum physics. Even Harvard and Yale plan to provide coursework to the public by year’s end.

If you want to increase your years, and the quality of those years, you should sharpen that pencil (or laptop) and get back to school.

Money Makes You Happier -- Up to a Point

Last year CNN Money did a piece on whether or not having more money makes you happier. There were basically two findings. First, they found that when it comes to happiness, it's better to be rich than to be poor:

• 56% of people who make more than $75,000 a year say they are "very satisfied" with life.
• Only 24% of people who make $25,000 or less a year say they are "very satisfied" with life.

However, they also found that once you earn enough to cover your basic needs, being much richer doesn't make you much happier. here are the percent who are "very happy" at various income levels:

• Below $20K annual income -- 22%
• $20K-49.9K annual income -- 30%
• $50K-89.9K annual income -- 42%
• $90K+ annual income -- 43%

So once you're in the $50k+ range, having extra money doesn't make you happier, huh?

I'd have to agree and disagree. On the agreement side, I'd say that once you have enough to provide for your family, then making more and more isn't going to make you that much happier. Possibly a bit happier, but maybe it's just not enough to notice. That said, doesn't more money mean a few more creature comforts, some additional security for financial storms, and the ability to avoid many of the day-to-day issues that having less money necessitates? Or maybe having more money simply means more headaches and more to manage.

Personally, I'm open for the headaches -- bring on the money! I'm not sure it will make me "happier," but I'm willing to try it out and see. ;-)

What Makes People Happy, Part 5: Memories

Here's a happiness shopping list from CNN Money -- a set of items that people say make their lives happier (something money can only do to a point.) Here's the last one -- today we're talking about memories. The details from Money:

Memories of great experiences are powerful mood boosters. Go ahead and splurge on something that reminds you of your past, be it a T-shirt with a band's logo, a book you loved as a kid or a kitschy souvenir from your last great vacation.

There are two, regular ways I remind myself of great memories:

1. At the end of every year, my wife and I select our best 25-30 pictures from the previous year. I then put them in a framed photo collage, we label it with the year the pictures were taken, and we hang it in our hallway. (We've done this since 2000, so we have seven of them at this point.) I frequently stop by and look at them and simply smile. It's wonderful to see how the kids have grown and to remember the great times we've had as a family.

2. I have a mini-version of the pictures above on my desk that I look at every day. Why? Because it's part of my calendar -- one of those great, self-made, picture calendars I got from Costco. It's another great way to remember people and events important to me.

So what about you? How do you recall your fondest memories? 

What Makes People Happy, Part 4: Being Thankful

Here's a happiness shopping list from CNN Money -- a set of items that people say make their lives happier (something money can only do to a point.) I'll be sharing all five of these over the next few days and today we're talking about being thankful. The details from Money:

A recent study found that writing down what you're grateful for leaves you happier and more optimistic. Buy a fancy $30 leather journal--or a $1.50 composition notebook--and take a few moments every day or week to reflect on your good life and to record it.

I've already detailed what I'm thankful for. How about you? What's on your list of the things you're most thankful for?

What Makes People Happy, Part 3: Pets

Here's a happiness shopping list from CNN Money -- a set of items that people say make their lives happier (something money can only do to a point.) I'll be sharing all five of these over the next few days and today we're talking about pets. The details from Money:

Despite all the sofas and shoes they destroy, pets have been shown to make you happier. What's more, caring for furry friends can help ease stress and lower your blood pressure, and a daily trip around the block with Fido is a chance to meet non-furry friends.

Ok, I'm giving pets their due with this post. I've detailed at length the cost of pets to the point where it's the most hated topic here at Free Money Finance and now it's time to see the other side of the story.

So let's say Fido costs $15,000 during his lifetime. If he helps to lower your stress and blood pressure, he is probably saving you money on medicine, doctor's visits and maybe medical insurance. In fact, he may even be saving your life. In addition, if you have to walk him, that may be your only exercise -- something else that will make you healthier and extend your life. Add to these that you're just "happier" by having a pet and maybe pets are worth the investment after all.

Now, should I be looking at a dog or a cat? ;-)

What Makes People Happy, Part 2: Hobbies

Here's a happiness shopping list from CNN Money -- a set of items that people say make their lives happier (something money can only do to a point.) I'll be sharing all five of these over the next few days and today we're talking about hobbies. The details from Money:

The lives of happy people tend to have a lot of flow--the high-intensity, utterly absorbing state that can come from a hobby that takes skill and concentration--for example, mastering an instrument, playing 18 holes of golf or finishing a crossword puzzle.

Here are a few of the hobbies I'm involved in (to various degrees):

1. Cycling
2. Growing roses
3. Volunteering at church
4. Coaching youth basketball
5. Playing chess
6. Blogging ;-)

I must say that I do get a lot of satisfaction from these and life would be much more boring without them.

How about you, what hobbies do you have that make you happy?

BTW, if you can turn your hobby into an income, then you'd not only be happier at work, but your net worth could take off as well -- a double bonus!

What Makes People Happy, Part 1: Marriage

Here's a happiness shopping list from CNN Money -- a set of items that people say make their lives happier (something money can only do to a point.) I'll be sharing all five of these over the next few days and today we're starting with marriage. The details from Money:

You may joke about in-laws and the old ball and chain, but an assortment of studies have found that married people are generally happier than singles. Do what you can to keep your marriage a happy one, including buying your sweetie the occasional $60 bouquet of roses.

Marriage also leads to a higher net worth -- so you can get happier and wealthier at the same time!

I know I would be much, much, much less happy if I wasn't married. How about you?

What Makes Up the Good Life?

An article I saved from Money magazine's August 2006 issue lists the response people gave to the question of what gives them the most pleasure. Want to guess what's on the list? Surprising (or maybe not so surprising) was the fact that money-related items weren't the only ones on the list. In fact, they were rather scarce. Here's what people said made up the good life for them (with the percent of people naming each items listed as well):

• Good health -- 84%
• A home you own -- 60%
• Children -- 48%
• An interesting job -- 46%
• Free and leisure time -- 36%
• A yard or garden -- 22%
• A luxury or second car -- 19%
• The latest electronic gadgets -- 19%

Interesting, huh?

I've long written that there are many things more important than money and this survey agrees. That said, I would still include money somewhere in the list of what makes for a pleasurable life. Here are some things I'd include on my list:

• My faith
• Good health
• My family
• A great job
• Financial security
• Interesting hobbies

So, what would be on your list of what makes up the good life?

How Do You Balance Money and Personal Fulfillment in a Career?

I recently ran into a piece on Yahoo that asks one of the age-old questions relating to money and work: how do you balance the need (desire) to make money with a sense of personal fulfillment in your career? Here are their thoughts:

Money or personal fulfillment? The challenge is to find a career that yields both. More and more job seekers are looking for more than a steady paycheck from their work. If you're like them, you want a career that's meaningful, satisfying, and stimulating. At the same time, you probably also have bills to pay and a family to support.

Personally, I went down the "more money than enjoyment" path early on in my career, but as I got older started looking for more of a balance. Currently, I'm in a position where I love what I do and who I work for and I'm paid a good salary too -- I'm in my personal sweet spot for now. Of course, that isn't to say that if the Indianapolis Colts asked me to run their franchise for $3 million a year that I wouldn't jump at it. ;-)

My guess is that most people will sacrifice personal fulfillment up to a point. People need to eat, buy clothes, have shelter, and the like, and until they cover the basics, people will likely do almost anything. Once they reach this point and surpass the "survival" level of income, however, they start looking for more and more fulfillment in their careers.

So what's the balance? What weight do you give to each? Would you give up some (or even a lot) personal fulfillment if it meant a very high salary? Or are you the kind that doesn't care what you make as long as you love your work?

For more on careers, see these posts:

• Timing is Important When Asking for a Raise

• Which is a Better Career Strategy: Staying with One Company Your Entire Career or Switching Companies Regularly?

• Don't Choose the Job with the Highest Salary -- Here's a List of Other Factors to Consider

How Much is Your Time Worth?

More and more these days, I'm basing financial decisions on TIME as well as money. In the "olden days," we'd drive all the way across town to save a dime (my wife still does this sometimes) but now I usually give it the time test before I decide to buy. Consider the following situation:

I'm at a store and thinking of buying a $20 item. I KNOW it's $2 cheaper at another place but that's a 15-minute drive away. What do I do?

I buy it at the first place -- $2 is not enough to account for the time and effort associated with going to the second store (much less the gas cost these days.)

But let's change the scenario a bit. What if the place it's $2 cheaper at is in the same mall -- just at the other end? For me, this would be a toss-up. For my wife, she'd go for the cheaper price.

Let's change it again. Let's say that you're considering buying a $500 item, but it's $50 cheaper (still the same percentage savings) across town (15 minutes away.) Is it worth the drive? I'd say it was.

So I guess it's the relationship between the absolute dollar amount saved and the time/effort expended to get it that's the deciding factor for me.

What about you? How do you make the time/money trade-off? Do you have any examples you could share with the rest of us?

The Most Cost Effective Ways to Stay in Shape

Money magazine had an interesting page in its June issue that compared the cost of various forms of exercise with the calories that those activities burned. They then got a "calories per dollar" number and compared the various exercises to get (as they call it) the "best burn for the buck." Here's their list:

• Running -- 1,100 calories per dollar
• In-line Skating -- 625 calories per dollar
• Kayaking -- 350 calories per dollar
• Swimming -- 240 calories per dollar
• Cycling -- 176 calories per dollar
• Golf -- 30 calories per dollar

Now a lot of assumptions go into these calculations, so check out the article (page 23) for details. But it's a fairly accurate analysis in my opinion.

That said, I do have a few thoughts on this:

1. The best exercise is an exercise that you'll do consistently. Some people like running, some skating, some swimming and so on. As long as you do something, that's DRAMATICALLY a better deal financially than doing nothing. (Why? Because you're protecting your most valuable financial asset -- you/your earning ability.)

2. Personally, I'm a cyclist and my bike has saved my life. Yep, it's a relatively expensive form of exercise but it's one I enjoy and one I'll do. In addition, people can generally cycle later in life and it's less stress on the body since there's not pounding going on (like there is in running.)

3. Who says that calories are the most important measure? I measure heart rate during exercising (I have a heart rate monitor) as well as take my resting heart rate once a month or so. Last time I took it my resting heart rate was 46 beats per minute.

4. In almost any comparison (whether it's energy expended or cost per energy), running will win. It's cheap to do and will get your body working hard in no time.

5. For me, running is boring and too hard on my body. Skating requires too much coordination.  Kayaking is too inconvenient (no water easily accessible.) Swimming is ok -- I'm thinking of adding it this winter as part of my cross-training program. Golf? Is this really an exercise? I guess all the walking would be worth a good amount, but most of the people I know use carts.

So, what's your favorite exercise activity? How do you think it would rate on Money's list?

Your Greatest Asset: You

In June's issue of Money magazine they comment that your greatest financial asset is you. I say it a bit differently as I believe that your career is your greatest financial asset. But we're really saying the same thing: your earning power is the greatest financial asset you have. Lose it, and your finances will soon become a wreck (unless you're really wealthy or have great insurance.)

Money deals with the relationship between health and wealth in depth in the June issue and I'll be commenting on several of their pieces over the next few days. For today, here are three sentences from their editor that summarizes their thoughts:

Boomers who developed health problems built wealth at less than half the rate of their healthy peers. Want to double the size of your portfolio? Exercise, cut out fats and don't smoke.

A few thoughts on this from me:

1. I've detailed what exercising has done for me and I'll keep at it as long as I can.

2. Here are similar lists on how to live longer and how to extend your life.

3. Good review here: your health is more important than money.

4. In addition to your body, you want to keep your mind sharp.

5. Here's a suggestion that saves you money, makes you money and keeps you in shape.

6. Cutting out those vices will improve your health AND save you money.

Something Money Doesn't Buy: Life

Here's a reminder that life is about much more than money. It's from the headlines a week or so ago:

Asia's richest woman, Nina Wang, has died of an unspecified illness after reports she had been battling cancer, leaving unanswered questions over her estimated $4.2 billion fortune.

This woman had billions of dollars, but do you think she'd have given it all away (or at least most of it) for a year more on earth? Or maybe even a few days?

When I saw this I just thought of how fleeting life is and while money is an important topic, there are certainly things that are worth much more.

Thus ends my philosophical post for the day. ;-)

Does Control of Your Finances Make You Happier?

I've talked a ton about how money and happiness are/aren't related -- mainly, if there's a relationship between the two and what the extent of that relationship is. Well, here's some new light on the issue from the book The Net Worth Workout: A Powerful Program for a Lifetime of Financial Fitness (see my rating for details):

According to Money magazine, control of your finances plays a bigger role in determining how happy you are than control of your job, health, friendships, or weight.

So maybe it's not having more money that makes you happier, maybe it's having more CONTROL over your money that makes you happier.

Hmmmmm.

I'd personally say that there is some correlation between having control over your money and happiness. I've lived without control of my money and lived with control of my money, and having control is certainly better. I found it miserable having my finances out of control (though my situation wasn't drastic by any stretch of the imagination. In fact, what I call out-of-control, many people today might call in control.) ;-)

That said, I still stand by my original opinion that having more money (up to a certain point) will make people happier. After that point is reached (I'm not sure I can say what it is in monetary terms -- it may be different for every person), more money will not result in much, if any, additional happiness.

Does this make any sense to anyone or am I off my rocker? What do you think about the relationship between money and happiness?

How a Bicycle Saved My Life

Ok, so maybe the title is a bit over-the-top. But my bicycle has certainly contributed a great deal to my physical well-being -- something that money can't buy. Here are the details of how cycling has contributed greatly to my life.

All my adult life I've had borderline bad cholesterol. Since I started keeping track of my results in 1998, my total cholesterol has been at a high of 237 and a low of 216. Why? Most likely it was due to very poor eating habits. During that time I had at least a one-year stretch where I ate at McDonald's every day. I look back on that time now and ask "what was I thinking?"

Fortunately, my "good" cholesterol has always been high too (due to regular time walking on the treadmill I assume) and as a result my cholesterol ratio has always been in the "good" range. And I have a healthy family history, so my risk for heart problems was low -- or at least that's what my doctor told me. Still, I wanted to see my cholesterol drop a bit -- to at least below 200.

So three years ago I took up cycling. I started it simply because it was something my wife and I could do together that was healthy. But being the compulsive person I am, it wasn't too long before I was training for and riding in events where I'd ride 100 miles in a day (they're called "centuries" by cyclists.) My heart rate during training and events was in the 140-150 beats per minute range versus the 110 bpm or so I was seeing on the treadmill. Certainly, my heart was getting a much better workout.

Two years ago, after I had a year of cycling under my belt, I went in for a physical and had my blood taken. For some reason, I never received the test results and I never called to ask for them (I figured that if I was on death's door, they'd call me.) Anyway, I recently went in for another physical and received the test results from 2005. My cholesterol was at a mind-numbingly-low 169! I was very pleasantly surprised, as you might imagine. I also had my blood taken again and am waiting the results with two more years of cycling and healthy eating under my belt. Is it possible that I could get below 150? To do so would be amazing for me.

I've probably spent $3,000 on cycling in the past three years. Has it been a good investment? I think so. Not only will it help to extend my life and make my quality of life better, but imagine what I would have had to spend on extra health costs (either now or in the future) without it. Seems like a good financial decision to me. What do you think?

Does Money Make You Happy? You Tell Me

I recently had a reader ask me to provide him with some thoughts on the relationship of money to happiness, so I sent him these links:

• Does Money Make You Happy?

• Is There a Relationship Between Money and Happiness?

• Will Earning More Make You Happier?

• Money, Happiness And The Pursuit Of Both

• Money Doesn't Make People Happy

• How to Be Happier

My opinion is as stated in one of the posts above:

I'm sure that money, by itself, doesn't make a person happy, but it does contribute to his/her happiness in some way. I think this is best summarized in that last thought above. If you have money, you don't have to worry about money. You don't have to fight with your spouse over it. You don't have to compromise on things you want to give to your children (within reason, of course). You still need to save, manage, and invest your money, but if you're "comfortable" financially, you're living with a lot less stress than most people and you should be at least a bit happier than they are.

Now, for your opinion. What do you think on this subject?

How to Live Longer and Decrease the Chances You'll Use Insurance, Plus a Great List for New Year's Resolutions

Here are some thoughts from the wonderful book The Bogleheads' Guide to Investing (I LOVED the book -- see my rating for details) on how to improve the odds you won't need to use insurance. It's also a great list for New Year's resolutions and also serves as a list of steps to take to live longer. Their thoughts:

• Don't smoke.
• Exercise regularly.
• If you drink, limit yourself to two drinks a day.
• Wear seatbelts, and don't drive under the influence.
• Eat the right foods, and maintain the proper weight.
• Get enough rest.
• Get regular medical, dental, and vision check-ups.
• Keep a positive attitude, smile, and laugh a lot.

Here's how I score on these:

1. Don't smoke.

2. Exercise at least four times a week.

3. Don't drink.

4. Always wear a seatbelt, and never drive under the influence.

5. I am the proper weight -- I'll be working on part 1 of this in 2007.

6. What was that? I missed it -- I was dozing off. ;-)

7. I get a physical and vision test once every two years (my doctors' preferences) and a dental check up twice a year.

8. I HAVE to have a positive attitude to do this blog, don't I? ;-)

Seriously, if you are missing any of these in your life, consider making them a resolution for this year. You'll feel better and live longer as a result. And, after all, life is more important than money.

Does Your Company Pay You to Stay Healthy?

While reading Smart Money's list of ways to maximize your benefits plan, I ran into this paragraph that I found very interesting:

Plenty of companies offer financial rewards in exchange for a pledge of healthy behavior. Pioneer Natural Resources Company in Dallas, for example, offers workers up to $700 a year for exercising regularly, not smoking and minimizing sick days and major medical claims. Employees at Westinghouse Electric in Monroeville, Pa., get $200 annually for performing 10 minutes of aerobic exercise three times a week.

Wow! Cool!

I'm sure that the company benefits financially from arrangements like the ones noted above. After all, an employee who exercises will probably save the company money on medical insurance, medical bills, lost time at work, and so on -- probably saving much more than the incentive the company is giving the employee. And the employee wins as well -- not only financially, but also simply by feeling better and living a more productive life.

My company doesn't offer a benefit like this (we're all pretty healthy anyway -- many runners and cyclists here), but I began wondering how many companies do. Does your company? If so, let us all know what it offers and how you like it in the comments below.

For more thoughts on the relationship between money and good health, see these posts:

• Save Money: Some Insurers Pay You to Get Healthy

• More Important than Money: Your Health and Your Mind, Part 1

• How to Stay Younger

Is There a Relationship Between Money and Happiness?

We've discussed the topic of money and happiness quite a bit here at Free Money Finance but this piece from Career Journal had a few interesting points that I wanted to add to the conversation. It tackles the same basic issue -- is there a relationship between money and happiness -- but offers a few unique perspectives. Their key thoughts:
 
According to a Pew Research Center 2006 report, the percentage of people who declare themselves "very happy" goes up as family income rises. People were asked: "Taken all together, how would you say things are these days, would you say that you are very happy, pretty happy, or not too happy?" Twenty five percent of people with incomes of $30,000 or less said they're "very happy." That compared with 50% of people with incomes of $150,000 or more.

Economist Richard Layard identifies the "big seven" of happiness as family relationships, financial situation, work, community and friends, health, personal freedom, and personal values. While a person's financial situation is just one element among the seven, a look at the other big six shows that money matters with them as well, too.

Top doctors and fresh vegetables help you keep healthy, and they cost money. Hiring a house-cleaner leaves means less fighting with your spouse, and household help costs money. A ski trip with your college friends strengthens those bonds, and it costs money. Giving to charity feels good, and it costs money.

Also, the idea that money can't buy happiness may overlook one of the most precious luxuries money does buy: not having to worry about money. Having money means you don't have to worry about paying for the intensive speech therapy for your child. Or about paying retail for a new digital camera when your old camera breaks right before your vacation. Or about buying a bottle of water on your way to the gym.

I'm sure that money, by itself, doesn't make a person happy, but it does contribute to his/her happiness in some way. I think this is best summarized in that last thought above. If you have money, you don't have to worry about money. You don't have to fight with your spouse over it. You don't have to compromise on things you want to give to your children (within reason, of course). You still need to save, manage, and invest your money, but if you're "comfortable" financially, you're living with a lot less stress than most people and you should be at least a bit happier than they are.

I can speak from experience on this point. I'm not wealthy by any stretch of the imagination, but because we keep our material "wants and desires" under control, live below our means, have no debt, and save and invest according to the principles I discuss here at Free Money Finance, our family is comfortable financially. As such, there isn't much financial stress in our lives and I believe that yes, it does contribute to our happiness in part.

What do you think?

How to Stay Younger

Yesterday I discussed how your mind is more important than money, so today I want to move on to your body and note that being physically healthy is just as important (and much more important to you than money). Today's piece is from Yahoo and tells how to stay younger and active into your 60s. Two of their key thoughts that I wanted to share:

Studies have shown that those who remain active and interact with others live longer, healthier lives. Therefore, keep mobile and involved in activities outside your home - it is good for you, both emotionally and physically.

Did you know that 88 percent of those older than age 65 have had one chronic health condition? This is why is it important that you see your doctor two to three times a year if you're in your 60s. In my practice, I see patients every three months, especially if they have chronic conditions that I'm monitoring.

I plan on staying fit and active well into my 60s (and beyond). I have a physical activity (cycling) that I enjoy and can be done well into older age at a good level (believe me, I've been passed by enough 70-year-old guys to know you can be a strong cyclist late into life) as well as interests that keep me active mentally. I don't want to plan and save for a retirement where I barely "get by" -- I want to retire and enjoy an active, full retirement. Just like we all need to save now for a financially fit retirement, we need to invest now in physical and mental activity to have a healthy and active retirement.

How to Keep Your Mind Sharp

As we all know, some things are more important than money (and even if you think it's not, your mind is obviously vital to your career, and that certainly has a big impact on your finances). One of those things is your mind. To keep your mind sharp, you need to keep your brain fit (yes, I said keep your brain fit) and preserve and protect your memory. Doing so will help you live a happier, healthier life.

Since I haven't discussed this topic for quite some time, I thought it was worthwhile to share this piece on how to keep your mind sharp. Here are their eight tips for doing so:

• Exercise your mind
• Stay physically active
• Develop healthy eating habits
• Drink alcohol in moderation, if at all
• Manage your stress
• Protect your head when exercising
• Stop smoking
• Talk to your doctor

Here's how I stack up on these:

1. I do exercise my mind. Of the list they provide in the piece on how to exercise your mind, I do the following:

• Play Scrabble or doing crossword puzzles -- I actually play chess, but I think that counts.
• Interacting with others -- Doesn't everyone do this?
• Start a new hobby -- I haven't started a new one lately, but my old ones (cycling, growing roses, personal finance) are keeping me busy.
• Learn a foreign language -- I started learning Russian last year, but have backed off a bit. Maybe I need to pick it up again.
• Volunteer -- I'm active at my church.
• Stay informed about what's going on in the world -- I have to in order to write this blog.
• Read -- Not as much as I like, but I do read quite a bit.

2. I exercise my body at least four times a week for at least an hour. I took my resting heart rate the other day and had 44 beats per minute, so I'm in fairly decent shape.

3. My wife does her best to keep me eating healthy foods. She actually manages to do a good job of this 80% of the time. But oh that other 20% can really set me back at times! ;-)

4. I don't drink alcohol, though some of you probably think I do based on some of my posts. ;-)

5. I'm actually at a low stress point in my life now.

6. I ALWAYS wear a helmet when cycling. No matter how good you are on your bike, you can always crash/get hit. Even Lance Armstrong crashed (and he did a couple of times without a helmet -- and it wasn't good.)

7. I don't smoke.

8. I'll bring up the "mind" issue with my doctor at my next physical (this spring).

Will Earning More Make You Happier?

So, will it? Will making more money make you happier? I've addressed the money/happiness issue before, and now there's a piece from Career Journal on the subject. They say "not necessarily" does money make you happier, quoting a recent study in Science magazine. Their main argument supporting this position on the relationship between money and happiness:

61% of people earning less than $20,000 a year report being "pretty happy" compared to about 52% whose annual income exceeds $90,000.

Ok, that's the media using misleading stats if I've ever seen it.

"Pretty happy" is the middle level in the survey they quote ("Very happy" is the highest and "Not too happy" is the lowest). While their numbers above are true, they don't give a complete picture of what's going on. For instance, consider these facts from the same study:

• 22% of people earning less than $20,000 a year report being "very happy" compared to about 43% whose annual income exceeds $90,000.

• When you take both "very happy" and "pretty happy" results, 94% of people whose annual income exceeds $90,000 fall into one of these two categories versus only 83% of people earning less than $20,000 a year.

• 17% of people earning less than $20,000 a year report being "not too happy" compared to 5% whose annual income exceeds $90,000.

• The numbers get closer the more you move up the income scale. Generally, the $20,000-$49,999 group is happier than the below $20,000 group and the $50,000-$89,999 is happier still (so much so that this latter groups numbers are similar to the exceeds $90,000 group.)

Looking at this, I conclude that people who make more are happier, though as they make more and more, the increase in happiness is less and less. In other words, once people make a decent salary, making more does result in them being happier, but not dramatically happier.

Now, whether making more is actually the cause of this happiness or not, that's up for debate.

I'd be interested in knowing what you think. My two cents is that people who earn more, up to a point, are happier because they do earn more. Whether this is because they get to buy more "stuff" or have more financial peace of mind, I can't say. But my guess would be that happiness is related to the amount a person earns. (BTW, I would guess that net worth is even more related to happiness than income, but again, this is just a guess.)

A Simple Suggestion that Saves You Money, Makes You Money, and Keeps You in Shape

Here's a money tip I'm sure you didn't expect from me. But it's a good one! Why? Because it does several things for you -- it saves you money, it makes you money, and it keeps you in shape. Here it is:

Start gardening.

Yep, you heard it correctly. Start gardening.

Want to know how this saves you money, makes you money, and keeps you healthy? Simple. Consider the following:

1. It saves you money in that you have a steady source of gifts (ones you grew yourself) that are often more valuable to the recipient than just another gift they don't need/want. Want an example? Read what roses have done to save me a bundle. Or, if you prefer to have a vegetable garden, it can save you lots of $$$$$ on food costs.

2. It makes you money by increasing the value of your home by 5-15% (as does planting trees, a related enterprise). So if you have a $200,000, a garden can add $10,000 to $30,000 to the value of your house. Not bad, huh?

3. How does it keep you healthy? Gardening improves your mood and sense of well-being, as well as giving you more energy and  helping with weight control. Here are some noted benefits:

Scientists have found that people who are active at a moderate level experience a long list of health benefits. Physical activity reduces the risk of developing heart disease, colon cancer, high cholesterol, high blood pressure, adult onset diabetes, osteoporosis, stroke, and depression.

Gardening and yard work contribute to healthy active living, and are part of all three types of physical activity – endurance, flexibility and strength activities. Heavy yard work like raking and carrying leaves contributes to both endurance and strengthening exercises, while all those stretches and contortions in the garden can help increase and maintain your flexibility.

And from Gardening Provides Many Health Benefits:

And anyone who has planted trees, created a flower bed from bare lawn, or hauled slate to design a walking path will tell you that dominating Mother Nature is hard work.

"It's going to give you a good way to burn calories that's an enjoyable activity for most people," says Dr. Roth. She adds that studies show that working in your yard or garden can burn between 250 calories and 500 calories an hour, depending on your level of activity.

And we all know that keeping yourself healthy is even more important than saving or making money.

Finally, gardening is something you can do well into the later years in your life -- providing a life-long, enjoyable hobby. (And for some, it will take a long life to learn to grow things.) ;-)

Great Financial Advice for Graduates (And the Rest of Us Too)

Here's a piece from Marketwatch where the author gives money advice to recent high school graduates. There is lots of good stuff in this piece and I want to highlight (in green) a few of the parts I like best. I've added in my commentary where appropriate as well. Here goes:

Financial success starts with spending less than you earn, and using the surplus dollars to reduce debt or save for the future.

Bulls-eye!!!!!! It all does start with spending less than you earn -- it's the one way people of almost any income can become wealthy. But if you over-spend, it doesn't matter how much you make, you'll still be going backwards.

If you couple spending less than you earn with a great saving and investment plan, it's easy to get rich and earn a million (or two!).

If friends, neighbors and acquaintances are fortunate enough to do a little better financially, feel free to applaud their efforts, but don't try to keep pace. Most people feel like they are entitled to nice things; the truth is that they are entitled to what they can afford to pay for while still protecting their future. Allowing someone else's priorities and earning power to set your own financial life off-kilter is dumb.

Yep. In my opinion, this is one of the reasons so many Americans carry so much debt -- they see a friend get something and they want it (or something better). They don't worry about the financial consequences -- they just borrow to pay for it. Bad move.

Today's graduates will know they have reached a new level of money maturity when they are able to give some of their cash away. "Giving til it hurts" actually can feel pretty good, even if the money involved is a small amount. The sooner someone learns that, the better they will feel about how they handle money.

It's nice to see a financial advice piece talk about the advantages of giving. Not only does giving help others and make the givers feel good, but some think that giving is one of the keys to getting rich. Some call this the power of giving.

The graduates I was talking to may have gotten a good education, but it didn't include 10 cents worth of information on managing money. They don't know how to balance a checkbook, make and keep a budget, or invest in a stock that Grandpa didn't pick for them. That has to change, and the sooner the better. They won't actually learn those lessons while taking college classes, but if they are lucky they will learn them during their time in college, so that they can be prepared to move on when next they graduate. But regardless of when someone learns money management skills, the important thing is that they figure it out, and the sooner the better.

I've discussed this a few times and several people have commented on it. Our education system does a poor job of teaching kids about how to handle money. That's why we, as parents, need to be sure we do it. The only problem with this is that many parents don't know what they're doing when it comes to handling money. Yikes!!!

Money provides opportunity, but it doesn't guarantee happiness. And until someone can put a price tag on what it takes to be truly content and happy, it will pay to remember that adult life is not all about the pursuit of greenbacks. 

True. That's why I have a whole category here at Free Money Finance devoted to things that are more important than money. A few things on my list: time, health, kids, mind, and happiness.

Being Thankful

In all this talk about money, I often lose myself in just that -- money, money, money. Though I don't mean for it too, sometimes it just overwhelms me and becomes too much of a focus. Too much of a focus, that is, compared to what I want it to be.

That's one reason I started the More Important than Money category -- so I could regularly remind myself (and others) that money is not the end all and be all.

Another thing I like to do to re-focus now and then is think about all the things I'm thankful for. It moves me away from thinking about money to what matters most in my life. A few of the things I'm thankful for:

• My faith
• My family - immediate family and my mom, dad, and several close relatives
• Good friends
• Good health
• A wonderful job with great co-workers
• KFC 3-piece meals ;-)
• Time to relax and enjoy it all

So what about you? What are you thankful for? Leave your thoughts in the comments below to help yourself and others shift our focus -- if only for a little while.