“The greatest wealth is to live content with little.” – Plato
This quote is a powerful message that resonates deeply with us when it comes to financial planning. At WellsFaber, we believe that true wealth isn’t necessarily about having a lot of money or material possessions but about finding contentment and fulfilment with what we have.
Living content with little means being grateful for the things we have and making the most of what we can afford. It’s all about being mindful of our spending and making healthy choices with our money – choices that reflect our values and beliefs.
This is why financial planning is such a personal journey. Wealth is ultimately about a balanced wellness, not “what everyone else is doing”.
Balance is easier to achieve when we have a budget to work from. It’s one of the cornerstones of implementing a financial plan. A budget helps us keep track of expenses and identify areas where we can mindfully direct our money. This is the foundation for living content because it enables us to manage our finances and stay within our means.
Once there is a budget in place, we can prioritise our spending, saving and investing. Whether it’s as simple as ticking off all the monthly basics, or building a long-term investment portfolio, you’ll avoid overspending and find it easier to stay on track with your financial goals.
We always remind our clients that saving for emergencies is also essential. We never know when something unexpected, like a medical bill or a car repair, might come up. By setting aside money for emergencies, we can avoid going into debt and maintain our financial stability. It can also help if we find ourselves without an income for a few months.
Part of living in your wealthspace also involves a shift from focusing on buying things, to focusing on experiences. Spending time with loved ones, travelling, or pursuing a hobby can be just as fulfilling as owning something.
We also believe that practising gratitude is foundational to living a wealthy life. Take time each day to appreciate both who and what you have, whether it’s a roof over your head or a supportive family. Focusing on what you do have instead of what you don’t can make you feel more content with your life and less likely to feel like you need more.
Remember, true wealth isn’t about having more; it’s about finding fulfilment with what you already have.