The Purposeful Life: Creating Meaning in Every Day

One of the great privileges of being a financial planner is hearing so many different life stories. Yet most of them are united by a common question – how do I use money effectively without it becoming my end goal?

Much of our lives are governed by finances, so it’s easy to lose sight of the fact that money is a means to an end – not an end in itself. I recently heard of a helpful way to look at this – viewing money as “fun vouchers”.

A voucher is pointless unless you can use it. Similarly, money is meant to be a tool to help you reach the things which bring you joy – such as travel, more time with family or ticking off a big “bucket list item” (see our Planning Your Adventure website for ideas!).

A Sobering Truth

Sadly, many people do not truly recognise what matters to them until it is “too late” (the saddest words in the English language, according to Evelyn Waugh). The famous palliative care nurse Bronnie Ware reflects on this in her book The Top Five Regrets of the Dying.

Most people do not wish they had made more money as they take their final breaths. Rather, they usually say things like the following:

• I wish I’d had the courage to live a life true to myself, not the life others expected of me.
• I wish I hadn’t worked so hard.
• I wish I’d had the courage to express my feelings.
• I wish I had stayed in touch with my friends.
• I wish that I had let myself be happier.

In short, what ultimately matters is lifestyle – not bank statements. The good news is most people reading this still have the opportunity to change course and live a life “on purpose”.

Purpose and Financial Planning

Hopefully, you will have no regrets in the future. However, will you leave that to chance? The only way to minimise the risk is to plan for a “life on purpose”.

This might involve making a deliberate mindset shift. Ask yourself:

“What gets me up in the morning?”

“What do I value more – my human connections or my financial ones?”

“What am I pushing towards every day?”

“What am I waiting for?”

Once you identify a meaningful lifestyle for yourself, a financial planner can provide the best help. Rather than simply guiding you to achieve an arbitrary level of wealth, they can craft a financial strategy that propels you towards what you really want to do.

Life can pass you by, and the years can move on so quickly without you knowing. Time is such a finite resource, and so many of us simply let social media and other distractions suck it up.

Life is for living! Get on with it!

Managing Your Online Life

I feel that social media needs special attention on this subject. Did you know that the average use of social media (worldwide) is 143 minutes per day? However, if many of us are honest with ourselves, we spend far longer on it than this!

If you want to live a “life on purpose”, then ask yourself how social media fits into that desire. The likes of Facebook, TikTok and Instagram can bring opportunities to connect with friends and find creative ideas for projects. Yet, their excess use can bring mental health problems such as anxiety, depression and addictions.

Some practice steps to consider include turning off notifications on your phone, tracking your app usage (and setting limits) and working with a partner or friend to minimise your use.

What else could you do with 143 minutes per day? This is enough time to become strong in a new language in a year. Or, learn an A Level, do strength training or get out into nature!
Meaningful Connections

Quite often, people search social media for something that can be found in real life—deep human relationships. Around 7% of people in the UK experience “chronic loneliness”, and social media often makes this worse.

From the moment we enter this world, we crave interaction and social bonds. These cannot be replaced virtually. As the old saying goes: “All you need is love”.

How can you deepen your connections – or forge new ones if they barely exist in your life? There is no other way about it. You need to take bold steps yourself.

Put yourself out there. Try to be more social. Start small if you must, taking a risk by talking to one new person every day. This could be the lady scanning your shopping at the till or a fellow passenger on your bus journey.

You never know when you might instantly “hit it off” with someone!

Plan for Tomorrow, Enjoy Today

This is the great balancing act which we all must perform! It can be agonising for many as they try to juggle their present and future priorities as they go along. It does not need to be this way.

One of the best aspects of having a financial plan is that it “frees you” to be fully present in the moment, knowing that tomorrow is “taken care of”.

The big “what if?” questions can be more easily laid to rest, since you have contingency plans ready to support you (and your loved ones) if things go wrong.

Sometimes, I feel like people are pulled in different directions by the world around them. Their personal connections are perhaps absorbed “in the moment”, spending money too recklessly and creating subconscious pressure to do the same. When they hear from financial specialists (e.g. “savings gurus”), they feel guilty because they receive the message that “tomorrow is more important than today”.

If you’re like me, you likely do not want your mind to be pulled around like this. Fortunately, you do not have to be.

Decide what a “life on purpose” looks like for you, craft a long-term plan with an adviser who “gets you”, and stick to it. Then, allow yourself to “let go” and enjoy the things you had put off doing. Relish in becoming who you have not had the chance to be.