Work & Play

How Much Money Is Enough for a Good Life

July 17, 2017
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This is the golden question in our capitalist world. How much money is going to give you a life in which you are comfortable.

Basic Human Needs

Well, the answer to this question is going to be different for each person. Our basic human needs are food, shelter and clothing, however the type of shelter, food and clothing that is acceptable varies from person to person. One person can be perfectly content living in a trailer home while another requires a 10-bedroom home at minimum. The types of things that we perceive we need to live a good life is what is going to determine how much money we actually need to get to living good.

Individual Needs

Ultimately you have to ask yourself the following questions:

  • What kind of home do I need for a good life and how much will it cost me?
  • What kind of vehicle(s) do I need for a good life and how much will it (they cost me)?
  • What kind of food do I want to eat and what would that cost me monthlyx12?
  • What do I want to be able to spend on clothing annually (designer, second-hand)?
  • What kind of recreational activities do I need to have in my life for a good life and how much will they cost me? (You will need to find out cost of equipment, membership, travel -all the details)
  • What do I need to provide for my dependents?

Break it down now

Now, if you already have most of the things you need in your good life then calculating the above figure is going to be easy. However, if you haven’t achieved that good life yet, then be prepared to do some research and be detailed about costs. You can’t just say you want a big house, you need to figure out which city, which part of the city it will be in and then find out costs of homes in that area based upon your requirements such as number of rooms etc.

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The right amount is your amount

There are numerous things you need to consider to determine how much money is enough for a good life, it all depends on what your priorities are and how much time you are willing to exchange for money. The less wants you have, the less money you need. The more things you want to possess, the more things you want to do, the more money you need.

Written by Joti Heir.