As we work towards being financially stable and building wealth, we often focus on the numbers and must remember the more prominent reasons behind our efforts. Enter Ikigai, the Japanese concept that encourages us to find meaning and fulfilment by aligning our passions, talents, and values with what the world needs and what we can be paid for. While traditionally applied to life in general, Ikigai can also be a powerful guiding principle in personal finance. This blog post will explore how incorporating Ikigai into your financial journey can create greater satisfaction and purpose.
IKIGAI in Personal Finance
Ikigai is all about finding what gives our lives meaning. When it comes to managing money, it’s not just about getting rich. It’s about using money to make us happy and help us live the life we want. Whether it’s supporting causes we care about, taking care of our families, or pursuing our dreams, Ikigai in personal finance reminds us to think about what truly matters to us.
By doing this, we can make financial decisions that align with who we are and what we want out of life, leading to a more fulfilling and purposeful financial journey.
Ten Principles of IKIGAI in Personal Finance
Incorporating the principles of Ikigai into your personal finance journey can transform how you approach money and wealth. By aligning your financial decisions with your passions, talents, and values, you can unlock a more profound sense of purpose and fulfilment in your pursuit of financial freedom. Let’s explore these principles further:
1. Stay Active: Monitor your finances by tracking your expenses, investments, and financial goals. Actively manage your accounts, regularly review your financial statements, and stay informed about market trends to make informed decisions.
2. Take it Slow: Avoid impulsive financial decisions and take the time to research and plan for your financial future. Avoid pursuing rapid profits or giving in to fear-driven selling when markets dip. Instead, adopt a long-term perspective and make deliberate, well-thought-out choices.
3. Don’t Fill Your Stomach Completely: Practice financial moderation by budgeting and living within your means. Avoid excessive spending and prioritise needs over wants. Developing a budget helps ensure that you allocate your resources wisely, prioritising essential needs, savings, and discretionary spending in a balanced manner.
4. Surround Yourself with Good Friends: Build a supportive financial network with trusted advisors, mentors, and friends who can offer guidance and encouragement. Find reputable financial professionals, such as financial advisors or accountants, to help you navigate complex financial decisions. Surround yourself with peers with similar financial values and goals, fostering a positive and supportive environment.
5. Get in Shape for Your Next Birthday: Establish clear financial goals and work towards accomplishing them, whether saving for retirement, paying off debt, or investing for the future. Establish clear and measurable financial objectives, breaking them down into manageable steps. Frequently review your progress and adapt your plans as needed to ensure you’re steadily progressing toward your financial goals.
6. Smile: Adopt a positive mindset towards money management and celebrate financial successes, no matter how small. Cultivate gratitude for your financial blessings and acknowledge your accomplishments along the way. Concentrate on moving forward rather than getting stuck on setbacks, which can help you stay positive and empowered along your financial path.
7. Reconnect with Nature: Recognise the connection between your financial decisions and their environmental and societal impact. Consider investing in sustainable and ethical funds aligning with your values, supporting companies prioritising ecological conservation and social responsibility. Take steps to minimise your carbon footprint and promote eco-friendly practices in your financial activities.
8. Give Thanks: Practice gratitude for your financial blessings, such as a steady income, access to education, or supportive financial resources. Reflect on the privileges and opportunities afforded to you by your financial situation, expressing gratitude for the abundance in your life. Cultivate a sense of contentment and fulfilment, appreciating the value of non-material wealth and monetary assets.
9. Live in the Moment: Enjoy building wealth and finding financial stability rather than solely focusing on distant financial goals. Embrace the present moment and savour the experiences and opportunities of managing your finances effectively. Find joy in learning and growing, embracing the challenges and triumphs accompanying your financial journey.
10. Follow Your Ikigai: Align your financial decisions with your values, passions, and life goals to create a financial plan that brings you fulfilment and meaning. Whether saving for a dream vacation, supporting a cause you care about, or achieving financial independence, make sure your money serves your purpose in life. Prioritise activities and investments that resonate with your Ikigai, ensuring that your financial decisions contribute to a life of purpose, fulfilment, and joy.
Conclusion: Finding Meaning and Fulfilment in Financial Freedom
Incorporating the principles of Ikigai into your personal finance journey can transform how you approach money and wealth. By aligning your financial decisions with your passions, talents, and values, you can unlock a more profound sense of purpose and fulfilment in your pursuit of financial freedom.
Remember, it’s not just about the numbers – it’s about living a life that brings you joy, meaning, and abundance in every sense. So embrace your financial Ikigai and embark on a journey towards greater financial fulfilment today!