The recent UK budget has understandably left many feeling frustrated about rising taxes and the perception of being penalised for building wealth. But instead of focusing on what’s being taken, it’s important to shift our perspective to what wealth can provide: freedom, joy, and the chance to create lasting memories.
Morgan Housel, in The Psychology of Money, reminds us: “The highest form of wealth is the ability to wake up and say, ‘I can do whatever I want today.’” Wealth is not just about security; it’s about choice. And one of the most meaningful ways to use that choice is by investing in life experiences that bring joy, connection, and purpose.
The Power of Experiences
It’s natural to feel cautious about spending in uncertain times, but money’s value isn’t in its accumulation — it’s in what it allows you to do. Research consistently shows that spending on experiences, rather than possessions, creates more lasting happiness.
Think about it: your happiest memories likely involve people, places, or adventures, not things. Your wealth is a tool to craft a meaningful, fulfilling life — not just for tomorrow, but for today.
Balancing Planning and Living
A strong financial plan is not just about preserving your wealth but also about enjoying it. By creating what I call a “Memories Budget,” you can intentionally set aside funds for experiences that matter — family holidays, shared milestones, or even exploring a hobby you’ve always dreamed of pursuing. The more specific you can make it, the better.
This isn’t about being reckless; it’s about finding balance. Housel captures it well: “Money’s greatest intrinsic value is its ability to give you control over your time.” Use that control to prioritise what truly matters.
A Legacy Beyond Money
Your financial legacy isn’t just the assets you leave behind — it’s the memories and impact you create during your lifetime. Ralph Waldo Emerson said it best: “To know even one life has breathed easier because you have lived — this is to have succeeded.” Spending on meaningful experiences creates a ripple effect of joy for you and those you love, becoming part of your legacy.
Seizing the Moment
As your financial planners, we want to help you and those you care about balance long-term security with living life fully. If you know others who might value our approach, they can discover more here.
Wealth is a tool — but life is the goal. Don’t leave memories on the table. Spend intentionally, joyfully, and wisely, creating a life full of meaning and experiences you’ll cherish forever.
