Are you handcuffed to money?

Most people know you need enough money to feed and cloth yourself and put a roof over your head. Once that’s accomplished however does more money and possessions make you happier?

The research says no. As far back as 1943 Maslow’s theory (see image above courtesy of Wikipedia) states once the basic needs are met, we then move onto other needs.
Yet in our western society we seem to have forgotten this. Ghazi and Jones reported in 1997 that we have 3 times as many clothes as in the 1950’s.
However some people are fighting back. The compactors are a group of 10 American friends who made a compact to buy as little as possible. The amount of publicity they’ve attracted has been amazing. Some publicity has been abusive because they’re perceived as threat to the American economy.

(See their web space http://groups.yahoo.com/group/thecompact/)

If you’re tied to possessions then it really reduces your life choices because you’ve got to keep earning to pay for new things and pay off the old loans. It appears the more money we have the more things we find we need. It’s very easy to get sucked into this buying culture as we’re can’t go anywhere without advertisements
The lack of timely access to a public health system and inadequate public systems means we feel compelled to have private health insurance and run a car all of which need money.

We worked with one client in a high powered job, company car etc but she had stopped enjoying her job and the Monday morning blues were constant. As we worked with her she realised she really wanted to move into a new totally different career which required substantial training. It was not feasible to combine both her job and the necessary training.
So we analysed her spending and demonstrated it was possible (despite recently buying a house on her own) to survive on a lower wage. After careful consideration she took up a part time job at a lower skill level. Sure she no longer has the latest designer clothes and accessories but she’s happier than ever 18 months into her college course. This is despite the fact her new chosen career is unlikely to pay as much as her old career.

So by objectively analysing your spending, identifying what you really need, may be you have more career options than you realise.

A last word from J. Brotherton
My riches consist not in the extent of my possessions but in the fewness of my wants.

Keywords
career advice
monday morning blues
handcuffed to money
career choices