15 months ago I landed a great new job and started making a little more money. We upgraded to a little bigger house. Olga and I started going on dates a little more often. And we let loose on a little more discretionary spending.
These things have made us a little bit happier. We like where we live. We like going on dates. And we like having a few more useful things.
But we aren’t a lot happier.
Will a lot more money take our happiness to the next level? I think not. A study showed that at a certain point your salary hits a “happiness benchmark.” Making more after you’ve reached the benchmark doesn’t buy more happiness.
Money matters and I’ll be the first to tell you that it feels great not to worry about it. But once you’ve achieved a reasonable margin between what you earn and what you spend, money doesn’t do the wonders it used to.
Once you achieve the first level of financial peace, it’s time to focus on the more precious resource: time.