That feeling of never-enough, here’s how to handle it

4 strategies for financial contentment

There is a persistent, annoying truth about the human mind: no matter how much we have, it never feels sufficient. Even the richest people on the planet aren't immune to this.

John D. Rockefeller, the wealthiest man of his era, was famously asked how much money was enough. His answer? “Just a little bit more.”

Money is the ultimate scorecard because it is so easy to count. There’s no “fatherhood score” to tell me if I’m doing a good job with my son, but net worth can be measured down to the penny. This makes it incredibly easy to treat money as a yardstick for status, not simply a tool for a better life.

Just to say, I’m keenly aware that for many of us, money isn’t about status—it’s about survival. But no matter the number of zeros in your bank account, few of us are immune to feelings of anxiety and envy.

Here are four strategies for financial contentment from Morgan Housel, author of the bestselling books The Psychology of Money and The Art of Spending Money:

1. Embrace the upside of scarcity. We often think unlimited luxury is the ultimate goal, but Morgan argues that scarcity is what actually creates appreciation. A fancy dinner feels amazing once a year, but if you have a private chef making Michelin-star meals three times a day, it just becomes “the norm” and the joy evaporates. Living a simpler life allows the occasional luxury to actually produce the dopamine hit you’re looking for.

2. View your life through the lens of history. If you want to feel wealthy instantly, become a student of history. John D. Rockefeller may have had half a trillion dollars (adjusted for inflation), but he didn’t have penicillin, Advil, or sunscreen. So many of the everyday conveniences we’re accustomed to would have looked like absolute miracles to the richest people living just 150 years ago.

3. Beware the Ferrari paradox. People often buy extravagant items thinking they will bring respect and admiration. But Morgan noticed a funny thing when he was a valet at a fancy hotel: when someone drove up in a Ferrari, he didn’t look at the driver and think, “That guy is cool.” In fact, he never looked at the driver at all. Instead he imagined himself in the car and how cool he would look. Even when you have expensive or fancy stuff, people generally aren’t thinking about you; they’re using your stuff as fodder for their own fantasies.

4. Buy freedom, not status. The most powerful use of money isn’t status—it’s independence. Morgan views every dollar saved not as delayed gratification, but as an “independence token” that buys flexibility. That financial cushion also allows you to handle life’s inevitable bad breaks (illness, job loss, etc.) without losing your sanity.

I’ve been alive for nearly 55 years and not found a silver bullet for money neuroses, but I believe smart strategies like these can absolutely take the edge off.

For more on managing financial anxiety and cultivating contentment, listen to the full episode with Morgan Housel.

Also out this week is my episode with meditation teacher Devin Berry, who shares how loving-kindness practice is a genuine, scientifically-supported antidote to fear, anger, and anxiety.

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