Optimal Finance Daily - Financial Independence and Money Advice 3123: The Key To Happiness Is Saving More Not Making More Money by Sam Dogen of Financial Samurai
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Apr 27, 2025 True happiness may come from saving money more than earning it. Compelling data shows that higher savings lead to greater peace of mind and freedom. Instead of chasing higher income, focusing on savings fosters satisfaction and financial independence. Personal anecdotes reveal how saving provides pride and a sense of stability, emphasizing that money should be viewed as a tool for growth rather than just a mere earning target. This fresh perspective challenges conventional beliefs about wealth and happiness.
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Saving Brings Personal Joy
- Sam Dogen shares his personal joy from saving money despite sacrifices like skipping cheeseburgers and avoiding luxury spending.
- He relates guilt from past spending to motivation for lifelong financial discipline and saving.
Savings Trump Income for Happiness
- Savings impact happiness more significantly than income levels, as shown by a survey of over 1,000 people by Ally Bank.
- Higher savings correlate with increased happiness, while income above $150,000 is linked to slightly less happiness, possibly due to stress.
Be a Super Saver
- Embrace the mindset of being a "super saver" instead of viewing financial hoarding negatively.
- Saving more creates peace of mind, pride, and independence, leading to greater happiness.
