Most of you would agree that you could do with a bit more money in your bank accounts. However, is there a perfect amount of money?
According to a recent announcement, the new host of Top Gear will probably be picking up a cool reported £1.5m deal. To most of you, this certainly sounds like a decent amount. In fact, it seems that the actual amount you desire is a lot less than you might imagine, as a 2015 study of 2,000 Britons found that a maximum of £37,396 is “enough.” £1.5 million sounds a perfect amount of money to me!
Trying to determine how much money is enough often goes beyond simply having sufficient money to pay your mortgage and bills. It is much more about being able to live the life you want. For some people, very little money is enough, as they do not experience the draw of the consumer culture; however, for other people, the opposite is true.
Money may not necessarily equal happiness, but it can lead to a degree of freedom. However, there is very little point having freedom without having the time to enjoy it if you work long hours. Therefore, you need to strike a balance. The consensus is the feeling of security seems to determine how much money is enough – being able to provide for your loved ones and being able to plan for the future.
The amount of money that is enough depends on the individual. However, what is clear is if you base your happiness purely on how much money you have, you may find that you never have enough!
If this blog entry has made you think about your future and money, you may wish to consider Oxbridge Home Learning’s Retirement Planning Diploma. This course will make the whole process much less daunting. As planning for your retirement can often seem daunting we aim to help you understand that planning for your retirement should not be an intimidating experience but a positive one instead. Planning for your retirement is much more than just financial planning. It is also advisable to look at other aspects of life such as keeping busy or maintaining a healthy lifestyle.
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To quote Benjamin Franklin: “Wealth is not his that has it, but his that enjoys it.”