“It is not how much we have, but how much we enjoy, that makes happiness.” – Charles Spurgeon


When we think about financial success, it’s easy to get lost in the numbers—the size of our paycheck, the balance in our bank account, the returns on our investments. But as the saying goes, it’s not about how much money you have but how much you enjoy it. This is part of how we understand the concept of living in our wealthspace—a measure of satisfaction with one’s overall state that goes beyond mere income and investments.

Over the last three decades, numerous studies have delved into the concept of financial satisfaction. One of the most notable findings comes from the renowned psychologists Kahneman and Tversky, who discovered that the impact of income on financial satisfaction diminishes once basic needs are met. In other words, after a certain point, earning more money doesn’t necessarily equate to feeling more financially content.

So, if it’s not just about the quantity of money, what influences our sense of financial well-being? 

Research suggests that it’s largely determined by our subjective perceptions of our financial circumstances. This includes factors like our individual desires and goals, how our current financial situation compares to our past, and how we measure up against our peers.

Consider two individuals with identical incomes. One may feel financially secure and satisfied, while the other may feel stressed and inadequate. The difference lies in their unique financial benchmarks, shaped by their personal experiences, aspirations, and social comparisons.

This is where the power of financial planning comes in. A comprehensive financial plan provides a clear picture of how our current financial behaviours are impacting our ability to achieve our goals. It helps us identify areas where adjustments need to be made, whether it’s cutting back on unnecessary expenses, increasing our savings rate, or reevaluating our investment strategy.

But a financial plan is more than just a one-time snapshot. It’s a living document that evolves as our lives and circumstances change. It serves as a roadmap for our financial journey, helping us stay on track and measure our progress over time. By regularly reviewing and updating our plan, we can ensure that our financial decisions are always aligned with our values and objectives.

At WellsFaber, we understand that financial well-being is about more than just the bottom line. It’s about crafting a financial life that brings you joy, satisfaction, and peace of mind. It’s about using your resources in a way that aligns with your deepest values and aspirations to create and live in your wealthspace.

We encourage you to look beyond the numbers. Ask yourself: What does financial success look like for me? What are the experiences, relationships, and achievements that bring me the greatest sense of fulfilment? How can I use my financial plan as a tool to create a life that is rich in every sense of the word?

Remember, your financial journey is unique. By taking the time to understand your own financial benchmarks and create a plan that reflects your personal definition of success, you’re setting yourself up for a future of true prosperity – not just in your bank account, but in your heart and mind as well.

We advise, you thrive.