How to Use Your Money for Good

Use Your Money for Good

They say that money can’t buy you happiness, but is this true? To some extent, it will depend on what you’re spending your money on. If you buy things just for yourself and you’re selfish, you won’t be happy overall. If you use your money for good and you spread the wealth, then you’ll feel happier. With that in mind, here are some ways to use your money for good that will benefit you and those around you.

Buy Experiences, Not Things

When we buy a physical item, such as a piece of furniture, a car, or maybe something ornamental, we’ll be happy with it at first. Then, as time goes on and we get more and more used to it, that happiness will fade. It will start to become just an ordinary part of life and we might not even really think about it much anymore.

However, when you spend your money on experiences, those experiences last a lot longer than the hour, day, or weekend you enjoyed them. You’ll have memories to think about and perhaps photos to look at. Having positive memories is something that is proven to be good for your health and happiness. So, if you use your money to buy experiences, you’ll feel so much better, especially when you have less ‘things around you.

Spend Money on Other People

Another adage is that it’s better to give than to receive. This one is certainly true, and if you’ve ever experienced the wonderful feeling of happiness that you get when you’ve bought something for someone and they love it, you’ll know what we mean. In other words, spending money on someone else is far more positive than spending money on yourself (although treating yourself from time to time is a good idea).

You can buy a gift for a loved one or perhaps take them out for a nice lunch or dinner, for example. Not only will it be fun to buy the item but seeing how happy you’re making someone else is a positive thing too.

Donate to Charity 

When you think about spending money on other people, you’ll probably think of people you know first. You’ll want to buy gifts for friends and family or perhaps work colleagues, for example. However, an alternative (or something you can do at the same time) is to give to charity.

By adding to American veterans donations, for example, you can spend your money in a way that will certainly do good for many other people. You’ll be able to actively improve other people’s lives while also spending your money. If you were going to spend it anyway, why not donate it to charity and make the most of that spending?

Spend Money on Your Future

It’s good to live in the moment, and we’re often urged to live mindfully, not worrying about the past or the future. Of course, this can be ideal, but that doesn’t mean you should prepare for the future, even if you don’t want to spend too much time thinking about it. One way to do this is to set up a savings fund or pension plan to ensure that when you are older, you have a decent amount of money to live on. Alternatively, you could use your money to invest in your education, ensuring you can get a better job in the future. Or you could buy a property that you can use to fund your retirement. Although you might not see the results immediately, this kind of investment will certainly help you further down the line.