Turning wealth into happiness: Why a plan makes a difference
The saying “money can’t buy happiness” is true. Wealth doesn’t automatically mean you’ll be happier, but it could give you the freedom to focus on the things you enjoy and boost your wellbeing as a result.
How you use money is just as important as having it when assessing whether it would improve your happiness. Intentional financial decisions that are made based on your priorities and goals could promote a greater sense of joy.
How money could improve your happiness
First, simply having money in the bank or a higher income could improve wellbeing.
Indeed, an article by Virgin Money (1 October 2025), based off a survey by OnePoll conducted in August 2025, suggests 89% of Brits experience money worries, with 1 in 3 stating they regularly worry about their finances. Not only can this cause financial stress, but it can also affect other areas of life, for example 31% of adults admitted that financial stress had negatively impacted their relationships with loved ones.
Feeling confident in your finances can ease concerns and enable you to focus on the things you enjoy.
Finances can also influence other areas that are important for wellbeing.
A Harvard article (16 February 2023) provided insight into a study that the University has been conducting over the past 85 years, looking at adult development and how it has provided data on what makes people live happier and longer lives. A common factor among the happiest people, the ones who stayed healthy as they grew old, and the ones who lived the longest is that they had the warmest connection with other people.
The director of the study Robert Waldinger said: “In fact, good relationships were the strongest predictor of who was going to be happy and healthy as they grew old.”
As the article says, it stands to reason that you would be happier If you had good relationships, as those two things logically go together. When you ask people what is important to them, family and friends usually appear high on the list, and it makes sense that good social connections are often essential for happiness.
While having your finances in order might not seem like it will directly influence your social connections, having the knowledge that you are secure in your wealth might allow you to spend more time with family and friends, giving you the opportunity to enjoy new experiences with them.
Being financially secure might also allow you to spend some of your time doing other activities like volunteering, helping support your local community while also giving you the opportunity to meet new people outside of your social circle. You might even find yourself able to reduce your working hours, allowing you to spend more time with different people.
Why a financial plan could provide direction
So, knowing what you are doing with your money can help you find more social connections, and through that the opportunity to potentially live a happier, healthier and longer life. At the end of the day though, you need to consider what improves your wellbeing and how you can use your wealth in a way that allows you to focus on that.
The good news is that’s the essence of a financial plan – bringing together your finances and aspirations to create a tailored plan that suits your needs and allows you to work out what you need to do to achieve your goals.
After working with a financial adviser, you might find that you’re in a better position than you had previously thought. If you have previously had no real plan to follow and have just saved, worrying about future costs, then you might actually be able to afford to do the things you have been dreaming of. For example, you might be able to take those holidays to exotic destinations, or buy the latest gadgets.
On the other hand, you might have assumed that you have had enough, but a financial plan could reveal that, in reality, there is still some work to do before you are able to comfortably reach your goals. Working with your financial adviser to cover that gap might still allow you to relax and not worry about your financial wellbeing now as you have things in place to make sure you are on track to enjoy the retirement you’ve been looking forward to.
Get in touch
If you’d like to build up a financial plan that’s focused on your happiness and wellbeing, please contact us. We can work with you to build a tailored plan that suits your aspirations and does not leave you feeling financial stress.
Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.
