Last semester, a class that I took required that we read the 7 Habits of Highly Effective People by Stephen Covey. I’d read the book before, but my personal opinion on it is not particularly favourable, so I got bored and put it down. This time, since it was a requirement for the class, I finished the book.
While I still don’t love the book, I’ve been thinking lately about one point that Covey stressed in one of the seven habits. The point was that everything that we do should be directed toward our end goal. The habit was called “Begin with the End in Mind”.
At the beginning of the book, Covey suggests people make their own mission statements, by considering what they want in life, and how they will get there. He suggests that, while writing your mission statement, you consider how you would like people to describe you when you kick the bucket.
At that point, I did consider how I’d like people to see me, and as of right now, I’d love to be described as a leader, as hardworking, and as generous and as a great friend, family member, and colleague. This will likely evolve as I live my life, but it was a nice little exercise in placing and identifying my priorities.
He then suggests, in the habit mentioned above, that the person only take actions that will help them work toward their mission statement.
But, since I read the book, I’ve thought a lot about how I can manipulate that idea into my finances. Of course, my mission statement isn’t to become rich, or to be known as somebody who is wealthy. So I struggled with putting this important aspect of mine, and everyone’s, lives, into perspective that way. Then, it clicked for me.
We only have so much time on this earth. Unlike money, we can’t earn more time. At the end of the day, it’s very possible that I could be hit by a car tomorrow and not make it. I could get terminal cancer in 10 years and regret not taking actions to enrich my life. So, instead of reaching toward a mission statement, why not only do the things that can, or do, enrich your life?
I know, I know. Everyone is probably thinking “well, I have to work, which doesn’t enrich my life, and there’s no way I can just quit my job”. This is valid and true. But working does enrich your life.
Working provides an income, which you require to enrich your life. Food enriches your life in that it keeps you alive. The necessities, that we deem necessities in today’s Western and many European cultures, enrich our lives because we can get the necessities that we need.
So, how can we translate that into financial terms?
Only spend money on things that will enrich your life.
The big things
For me, that means my car. I just bought a new car. My car enriches my life because it provides me with comfortable, much needed transportation. It can bring me to and from work, which is required for my necessities. It enriches my life by providing me with a means to get to school.
School enriches my life because learning is important to me. Tuition eats up a massive chunk of my budget, but that’s okay. Education enriches my life, as it is a value. It also enriches my life by increasing my employability. That will help me find a job that I like, and that enriches my life further by providing me with pay that can allow me more financial freedom to pursue my interests.
Housing enriches my life because it holds a home; comfort; love. It allows J and I to relax and flip on House after a long day at work. It allows us to play with our dog, sit on the couch in front of a fire with a book, and wake up in a comfortable bed on Sunday mornings, ready to take on the day.
The little things
The little things are where most of us struggle. Does that coffee really enrich your life? Maybe so. To me, coffee with friends enriches my life. It allows me to catch up with them over a nice, warm drink, and talk about our lives. Buying a coffee for myself if I’m not with friends and I’m on the run doesn’t add any value to my life (yes, I need coffee, but I can easily make it at home).
Do bank fees enrich your life? Likely not. Cut them out. Does that cute top enrich your life? If you’re not sure that it’s going to give you confidence and make you feel great about yourself, don’t buy it.
Along the lines of living with intention, only purchasing things that enrich your life may seem ludicrous until you break it down. Gifts enrich my life because I love to give things to my friends and family. My cell phone enriches my life by allowing me a method of communication with which to maintain relationships with loved ones. My internet enriches my life by allowing me an outlet (blog) and interaction with people. It’s also a life enricher by providing me with knowledge.
Sounds like you can justify everything
Food enriches your life because it keeps you alive and nourishes your body to enable you to take on the day. However, food from McDonalds doesn’t enrich your life; food from home does a good job at that, without the added cost.
Housing enriches your life because having a home is comforting and important, but having too much home for your family doesn’t enrich your life; a home more suitable and affordable does a good job at that, the rest is just keeping up with the Joneses’.
At the end of the day, everyone has different standards and enjoyments, and we all live different lives. I might bash McDonalds, but the next person might see getting fast food as a life enricher as it cuts down on time, and that time can be spent with family and friends, or doing a hobby.
We are all individuals. I encourage writing down your values – is it time, is it money, relationships? And applying those values when you question whether a purchase will enrich your life.
When I think about it in these terms, I’m motivated to cut down on my cell phone bill. Sure, my phone enriches my life by providing me with a means of maintaining relationships, but I could pay half of what I’m paying and still have a perfectly good cell phone plan.
This also prompts me to cut out lots of my food spending. I could easily bring something from home, because going through the Taco Bell drive through doesn’t provide me with any life enrichment over and above what my home-made pasta would.
What expense do you currently pay for that doesn’t enrich your life?
I definitely agree that fast food doesn’t enrich my life. While at times it may be convenient, food at home tastes much better.
It might for some people. I guess if they don’t have much time and would rather spend their time with other activities that do enrich their lives, then the convenience might be key. I don’t mind cooking, though!
I with you and Michelle, fast food doesn’t enrich my life. It’s really just a convenience. I think my cellphone falls into this category as well; I don’t use mine much and it’s again, more of a convenience thing. My ipad on the other hand, pure enrichment 😉
Haha! I could definitely get on the iPad as an enrichment thing wagon. My cellphone is a necessity, but some people just don’t use theirs!
I stopped eating fast food in 2008. My wife and I were forced to eat ff because we were lost in another state. We were both sick for 3 days.
I keep a mental list of places I can get some food fast, and stay healthy. Subway for a veg on bread is one of my spots when I’m on the road, or Taco Del Mar for a whole wheat black bean burrito.
I don’t really hate some fast food, like the things that Bax mentioned – delish – but McDonalds etc is horrible for you!
I’ve been trying to find things that enrich my life, or at least that I enjoy doing, as enrich is a fairly strong word in my opinion. And maybe that’s the point. I think your advice above about finding what your values are and writing them down are spot on. And it is hard. And they may drift over time. 🙂
It’s so hard to find your values and record them – I think as people evolve and change, values will certainly drift. But acting always with our values in mind will help us live fulfilled lives!
Have you ever read “Your Money or Your Life”? The book advocates the same thing: spending on things that align with your values and bring you fulfillment.
A lot of people spend money on things they THINK make them happy but upon closer inspection, they really don’t.
I never have! But now that you say that, I am going to look into it! Thanks for the recommendation and comment.
This post really got me thinking. I am a bit skeptical of the concept as people can find a way to justify nearly anything and claim it somehow enriches their lives. Still it does make you stop and think about which expenses might not be truly enriching our lives. Fast food is the obvious one, but I’ll have to examine my finances to see what really is truly important for me. Maybe it’s time to sell off my car and downgrade.
Oh, totally. But those people would be lying to themselves, which does no good anyway 🙂 I think it just pulls me out of the daily spending habits and points my direction toward one that’s more important to me 🙂
Fast food definitely doesn’t enrich my life. We actually never used to eat fast food before we moved to this state, and it’s something that puzzles us regularly. For 2 value meals, it costs $14! We could buy 9 Costco hotdogs and 9 drinks with that much! 😀
So expensive, hey?! Plus, you get no nutritional value for that amount of money! I know that it’s substantially cheaper in the US than it is in Canada, too.
I like thinking about what will enrich my life…besides just actual costs, all the WORRYING and needless anxiety I put myself through is not enriching my life. It’s good that I want to solve some of my big problems but going over and over it in my head (and then some) won’t fix anything!
That book is on one of the shelves at my office. Perhaps I should read it? I tend to prefer self help by women writers.