3696: How to Live in the Land of Enough: Money by Courtney Carver of Be More With Less on Intentional Spending

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[00:00:55] I'm Justin Malek reading articles to you every day of the year. This one covering how to figure out what enough looks like when it comes to money. So let's get right to it as we optimize your life. How to Live in the Land of Enough. Money by Courtney Carver of BeMoreWithLess.com.

[00:01:20] I'm sure you've heard the saying, money makes the world go round or show me the money. There is no doubt that money is important, but when it becomes the object of your affection or the subject of your nightmares, it's time to shift focus. I recently had the honor of posting Living in the Land of Enough on one of my favorite blogs, BecomingMinimalist.com by Joshua Becker.

[00:01:44] If I didn't know before while writing that post, I realized that the Land of Enough is exactly where I want to live and wanted to explore it with you further. Test driving the move to the Land of Enough for a few days or weeks is one thing. But to ensure permanent change, you need to define what is enough. While each of us will have a different version of enough, and that definition will change throughout our lives, some of the basics will be universal.

[00:02:14] Since I just wrote about getting out of debt, step one of living in the Land of Enough is the perfect place to start. Money. Save your money. There is no need for credit cards or therapeutic shopping in the Land of Enough. There are also no overdraft fees or ATM charges. Just put your cards away for 10 days. Then, keep a list of purchases you would have made if you were using your credit card or if you were shopping for sport,

[00:02:45] and take note of the money that you didn't spend. That was the recommendation for a short hiatus in the Land of Enough. For a longer stay, like a lifetime, you'll need to consider how much money you need. Ask questions like, Do I need to make more, or is this enough? If I started a minimalist business, what would I need to make? Consider this. If you are always trying to make as much as you can, and then more than that, what are you sacrificing?

[00:03:15] What is enough for you? This is not to say that you can't make a bunch of money in the Land of Enough, but if you are making it just to have more, then other areas of your life may be lacking. Ask this question. Would I be happier if I worked less and made less? There are three important things you can do with your money. You can save it, spend it, or give it away.

[00:03:43] Each of these options has merit, and having enough involves all three. A long, long time ago, people bought what they could afford. Then, when they ran out of money, they stopped buying things until they made more money. In 1914, Western Union offered the first charge card, which was printed on paper, for consumers.

[00:04:07] The first official charge card was invented in 1950 by Frank McNamara, who called his card Diner's Club. In 1959, American Express was the first company to issue embossed plastic charge cards. With credit cards, no one had to wait for anything anymore, and they didn't. Today, you can charge it, rent to own it, and even cash checks early if you are willing to pay the price.

[00:04:34] Unfortunately, the price has become bigger than just an exorbitant interest rate. When you can get anything you want, any time of day, you become unsatisfied, uninspired, and kind of lazy. Living in the land of enough. How to? Spending. Vote with your dollars and buy things that you need and care about. Do not buy to feel. If shopping gives you a rush, you are missing something else.

[00:05:04] Every dollar you spend supports someone or something. By supporting what you care about, every dollar gets a vote. Saving. After you are debt-free, save 15% of your income for retirement. It's never too late to start, but the sooner the better. Compound interest is your friend. Giving. When you have enough, you can give to someone who doesn't.

[00:05:33] Give to an individual or an organization that you support. Your dollars may change a life. Let the way you manage your money be a reflection of who you are and how you want to live your life. With spending, saving, and giving, do it simply and do it on purpose. You just listened to the post titled, How to live in the land of enough. Money.

[00:06:03] By Courtney Carver of BeMoreWithLess.com I'll be right back with my commentary. You've heard me talk about how I started tracking every dollar in and out of my life back in 2010. It began as a business school assignment, and I liked it so much, I never stopped. For years, that meant a spreadsheet I updated by hand. Now, Monarch does it for me. It tracks everything. Accounts, investments, savings goals, and spending all in one place.

[00:06:32] And going automatic showed me something my spreadsheet never did. My savings rate had slipped as my lifestyle crept up. It's like having a financial advisor in your pocket, flagging spending spikes before they become a problem. My favorite part is just asking the AI assistant, Can I afford this vacation without touching my savings? And getting a real answer. Write your own money story with Monarch.

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[00:08:19] There's one line in here that I think is worth the whole article. And it's the question, would I be happier if I worked less and made less? I'm guessing most people haven't asked themselves that. On a money show, and in most cultures, the assumption is always more. More income, more saving, more climbing, and so on. So a question that points the other way feels wrong. But it's a good one.

[00:08:48] Because enough isn't a number handed to you. If you don't define it for yourself, the answer just defaults to a little more than I have now. Forever. And that target never stops moving. I also like how simple she makes it. You can do three things with money. Save it, spend it, or give it away. And a good life has room for all three.

[00:09:14] It's easy to get so focused on the saving and earning part that the giving falls off entirely. And I think that's a bit of a loss. Because giving is one of the few ways we can use money that actually tends to make people feel better, not worse. So maybe today, ask yourself that question. Would a little less, in exchange for a little more life, be a fair trade for you? For some people, it's a hard no, and that's fine.

[00:09:44] But I think it's worth knowing your own answer. But that'll do it for today. Thank you for being here and listening every day. That's what keeps me going. It really means a lot. Have a great rest of your day, and I'll see you tomorrow, where your optimal life awaits.