How Do You Define Rich?

I think Nick on New Girl is hysterical. He is delightfully atypical and holds unique perspectives on everything from the weirdness of fish to wealth. His definition of rich is letting the gas pump do its job while he waits for the auto shut-off to kick in, rather than having to sit there and watch the price meter reach the highest affordable point.

Are you rich? Wait, don’t answer that. First let’s look at your life. Not your pocketbook or net worth statement, your life.

Is there love in your life? We’re not just talking about romantic love, but all kinds of love.

Do you have friends? Faith? Community? Family? Health? Confidence? Strength? A sense of humor? Resilience? Organizational capabilities? An appreciation for beauty? Discernment? Intelligence? Crucial life lessons learned through tough experiences? The support of others? Diligence? Skills? Good will?

Being rich is about so much more than money. While money remains the basis of our economy and our primary mode of obtaining the products and services we need, we can experience a plentiful world without ever reaching into our wallets. Increasing your financial health includes putting money in its place.  Money is one of our many resources but it shouldn’t be the only one we cultivate. Imagine how the quality of your life could improve if you increased one of those other areas of plenty.

So, now what is your answer? Grab a piece of paper and list eight things that make you rich, and don’t count your money. Once you have done that, ask yourself, “Am I rich?”

Why does a financial coach like me care about the other areas of richness in your life?  Indeed, those strengths can translate to money, but there is a much more important reason.  These resources make us feel more secure when we imagine the financial worst case scenario.  If I lost all my money, what resources would be there to pick me up? Friends? Family? Skills? Community? We can begin to increase our financial health by reducing the stress we feel when  facing the idea of becoming a bag lady (49% of women across all incomes are plagued with the fear of ending up broke and homeless.)

So let’s focus on our rich areas, it takes the edge off our imagination’s worst case scenario. And by all means, count it pure wealth if you can fill your gas tank all the way up.

Interested in increasing your own financial health? Let’s talk.

Here’s a great blog on the concept of plenty from one of my mentors, Luna Jaffe.