Financial Contentment.  I’ve thought a lot about this concept over the last few years.  What does it really mean? And how does it relate to our lives? 

Contentment is defined as satisfaction or ease of mind.  So, we can say that Financial Contentment is being satisfied or having an ease of mind about our current financial status. 

There are many thoughts that have been shared in reference to the concept of contentment.

Health is the greatest gift, contentment the greatest wealth, faithfulness the best relationship. – Buddha

There is no end of craving.  Hence contentment alone is the best way to happiness.  Therefore, acquire contentment. – Sivananda

Be content with your lot; one cannot be first in everything. – Aesop

Keeping in line with these ideas is where I think most people get stuck.  Don’t get me wrong, I love these quotes and I think that they inspire us by helping to maintain peace in our lives.  But I’m working towards a key point here, so stay with me.

There is another word that can be used as a synonym for content.  It is called complacent.  The definition of complacent is pleased or satisfied.  So, if they have the same definitions then they must have the same literal meanings right?  Wrong.   These two concepts are really not one in the same.  You can have contentment without being complacent.  When you mix the two, you get caught in what I’ll call non-action. 

Let me give a few of examples:

1. Jill is a college graduate and a receptionist for a local contracting company.  Her current annual salary is $25,000 per year.  She receives annual raises of about 2-3%, but the maximum she will ever earn in this position is roughly $30,000.  She has no debt and has managed to save over $50,000 within a 15 year time frame.  Should Jill think of or find ways to make better use of her educational resources to increase her income?
2. Patricia, an 18 year old, has not had the best start in life.  As a child, she was teased in school because she didn’t have the best of attire and the latest gear.  Her parents don’t have the best education which means that money is always a scarce commodity.  Should Patricia have the attitude that this is how it is and this is how it will always be?
3. The Carter’s, a nice suburban family with a house, two kids and a dog.  Both are educated people and have great incomes, but over the course of their lives have managed to build up a load of debt and are basically living paycheck to paycheck.  They sometimes wonder what life could be like if they didn’t have the debt, but that’s all – wonder.  Are they living to their maximum potential?

If you answered the questions above, you probably quickly said yes, no and no.  Now, step outside of your own life…tell your story.  Do you recognize any financial contentment AND financial complacency in your life?

Push the Envelope

What I think financial contentment really means is to be grateful for what we have and where we are in our journey, BUT always having dreams and goals of something better.  Setting goals.  Taking action.  There’s no harm in that.  Just don’t be caught in the next 5 years moaning and groaning about the same issues you have today.  Start now to create the financial changes you want to see.  Paying off debt. Giving to others.  Starting a business.  Building wealth.  Each day remember…one step in front of the other.  Eventually you will reach your destination. 

I have a few goals I’m currently working towards and one of the most important is to be able to give more of my money and my time helping others.    I can’t make this happen if I’m lost in contentment and complacency.  Neither can you.

It’s o.k. if you’ve set financial goals and have gotten off course, just realize that you don’t have to stay there!

How do you view this concept?  What has been your story?  Start or join the conversation in the comments.

Happy Monday!

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