Hey Friend!
For most of us, our beliefs about money come from our parents and our childhood experiences around wealth. As children, we soaked up and stored all that information in our subconscious minds, and that formed the foundation of our thoughts, feelings and beliefs about money. Do any of these phrases sound familiar?
“Money doesn’t grow on trees”
“Money is the root of all evil”
“Money can’t buy happiness”
“Health is better than wealth”
“Early to bed and early to rise makes a man healthy, wealthy and wise”
“All that glitters is not gold”
“More money, more problems”
“A day late and a dollar short”
We encounter a lot of mixed messages about money, yet we can’t survive without it. So, it behooves us to learn our money story and get to the root of our limiting beliefs, because it turns out that money and happiness are linked.
In their book, NeuroWisdom: The New Brain Science of Money, Happiness and Success, Mark Robert Waldman and Chris Manning PhD discuss how in 1974, a distinguished professor of economics at USC, Richard Easterlin, asserted that there wasn’t a strong correlation between happiness and wealth, but he was wrong. Many studies have found the opposite:
– The National Opinion Research Center at the University of Chicago, looking at 40 years of worldwide statistics between 1974 and 2010 found that of the people earning $150,000+ only 2% were dissatisfied with their lives, and of the people earning $500,000 or more 0% were dissatisfied with their lives (100% were very happy).
– The Wharton School of Business in 2012 found no satiation point, meaning the more money one made the more happiness they experienced.
– Michael Finke at Texas Tech University found that retirees that saved over $2 million in non-housing wealth were some of the happiest people in the world.
– Cornell University professor Robert Frank found that increased yearly income is the most significant way to increase happiness.
– According to the World Happiness Report, done by the United Nations in 2015, the six most important determinants of happiness are (in order):
1. Spending power (economic capital)
2. Friends, family and community support (social capital)
3. Healthy life expectancy
4. Freedom to make decisions
5. Financial generosity to others
6. Absence of corruption in business and government
– The report also found that “well-being” was another essential quality of a happier life (well-being defined as a life filled with enjoyment and safety, without the constant burdens of anger, worry, stress, depression and pain).
The authors assert that “happiness is a momentary experience, regulated by some of the oldest structures of your brain, and every organism is neurologically programmed to seek pleasurable experiences because it increases the chances of survival…But happiness is not just about seeking momentary pleasure or putting dollars into your purse. It’s also shaped by how you choose to make those dollars and how you choose to spend them. In other words, the pleasure you get by engaging in the activity of making and spending money through work and social activities is the secret to neurological satisfaction and worldly success.”
You may be thinking, but what about GREED and the Scrooge McDuck’s of the world! They can’t be the happiest! The authors acknowledge that “there is a dark side to money. Research also shows that the more wealth you have the more it strengths narcissism and feelings of entitlement…and when people become obsessed with money their relationships deteriorate…increased material wealth causes people to become more selfish and insensitive towards others…however, when wealthy individuals engage in values-based exercises that increase self-awareness and social awareness, their egotism diminishes. These are the people that are often recognized as great leaders.”
They go on to say that, “making money increases happiness, but the way you spend it predicts long-term satisfaction…if you make experiential purchases (vacations, cultural events, etc.) you’ll be happier than if you spend it on material objects…the more you spend money on shared experiences with others, the happier you’ll be…the more people focused on materialistic wealth, the more dissatisfied they felt with their lives.”
Their book is full of exercises to help your brain cultivate more wealth and happiness, and I wanted to share with you all an exercise from the book that you can easily take through a self-hypnosis session. Use this exercise as a way to gain clarity on how you might ideally like to make money and how you’d like to consciously spend it.
EXERCISE:
Get into a deeply relaxed state and then “pay attention to the thoughts and images that come to mind as you ponder this question:
What would you do if you were the wealthiest person in the world?
Think about all the things you could do with that money, and all the people you could help. Visualize the changes you could make in your life and how you could improve the lives of the people around you. Notice how these thoughts make you feel.”
Repeat this exercise often and see what consistently comes up for you. The subconscious mind is full of creative ideas and possibilities. See what daily actions you can take to feel happier and more financially secure in your life. I’m not being dismissive about the myriad societal inequalities and impediments to wealth that many in our society face, but instead offering an idea that if the collective can create a self-aware and socially aware money story–then we can make the world better for everyone. Remember, YOU have the power to change your money story, by creating new neural pathways of thoughts and beliefs that best serve your life. Your brain is already hardwired to seek out the pleasure and satisfaction that wealth brings. So, align with that truth, and make it RAIN! 🙂
Happy editing,
Robin
