Happiness is something you have to create for yourself, it’s an inside job, it’s not ready made and it won’t come from external sources, that will only leave you feeling disappointed. It’s important to realise that happiness isn’t a destination, it’s a journey that you embark on daily because the emotional side of money matters too.
Often time we believe that joy is a luxury reserved for after everything else is done, but this mindset leads to burnout. We’ve all heard the saying, “burn bright, not out,” right? Burnout isn’t a reflection of your worth, that you’re not good enough, it’s an indication that you’ve been giving your all for far too long without allowing yourself the grace to pause and breathe. Just as we manage current accounts, savings, and emergency funds, we need to put our joy account high on our priority list.
Think of it as an investment in your well-being by investing in experiences for yourself. It could be a weekly ritual like lunch with a good book, a quarterly hobby you love, or simply moments of quiet reflection with coffee. Whatever it is, make it a priority. By regularly adding to your joy account no matter how little, allocated separately from bills and other financial commitments, you’re nurturing your happiness and creating a reserve of joy to draw from when life becomes challenging guilt free.
I’ve been on this journey for a while, but the concept of a ‘Joy Account’ really hit home during a coffee chat with my friend Shelia, with over 30 years of experience on Wall Street and the author of It’s Time to Talk: A Woman’s Guide to Navigating Money Conversations. She shared how she helped a widow organise her finances while encouraging her to find little pockets of joy along the way. She made it clear that even when budgeting feels tough, joy should always be part of the process.
When our financial goals lack joy, it can lead us into a valley of disappointment, sometimes even causing mental health struggles like anxiety and depression. Sure caution has its place, but joy doesn’t mean recklessness, It can be built in as responsible rewards to give yourself permission to enjoy. Much of financial planning focuses on the future, so often we starve our present self. A successful plan should balance enjoying the now while preparing for later. Having your joy account psychologically is a reward to keep you going on your personal finance journey.
Financial freedom is the journey but joy brings in the quality. Life happens along the way, memories are made, and our character is shaped. Without joy whether in triumphs or setbacks we miss out on appreciating the progress we’re making.
So go ahead and create that joy account. Because let’s be real, joy is essential, and true wealth is all about well-being.
Sarah Stephen is a Luxury Real Estate Advisor advocating for women’s financial freedom.
