What is enough? According to Google’s definition, “as much or as many as required.” In certain areas of our lives, it is clear what is necessary. Our body actually will signal it: When we’ve eaten enough, our body gives us a signal that we are full.  When we’ve done a good job at work, we’re told we’ve met our requirements. But when it comes to money, the idea of what is enough feels very subjective and…fraught. Oftentimes, we don’t have a signaling mechanism to help us out and know what is required. In fact, the opposite is true: our minds actually direct us to want more. It’s human nature. 

So, what exactly is required when it comes to money? What is enough? Is it a certain amount of earnings each year? A certain sized portfolio? And the bigger conundrum: Why, when we get to a level that we feel is “enough”, is that feeling fleeting and suddenly we have a new number to achieve. Rockefeller (the richest person to have ever lived), was once asked, “How much is enough money?” To which he responded, “Just a little bit more.” If his appetite was never satisfied, what about the rest of us?

Removing the idea of scarcity from our lives

The dilemma I see with not feeling like we have enough money in our lives is that it causes undesirable behaviors and unhappiness for us. It can keep us trapped in a job we hate. It may mean we never have a sense of ease in our lives around money. It produces a nagging feeling of fear and scarcity around all the choices we make in life that surround money. Finally – and perhaps most perniciously – it keeps us from using money to live the life we want to live. 

Read More About Scarcity Mindset

I made a commitment to find the antidote to money scarcity and how to cultivate a sense of “enough” in my own life.  First, we need to make sure that our basic needs are taken care of. Once we pass that threshold, the question of “What is enough?” becomes much more subjective.  Is enough never having to work again? Is enough simply not having to watch what you order at a restaurant or not worry about going on a vacation or two a year? For me, it’s not a number, but rather a mindset that requires practice. It means removing the idea of scarcity in our lives and leaning into the fact that we have agency and plenty of resources. BUT this is also where I find the concept occasionally confusing when others talk about it: I hear people interpret the mindset of “enough” as equal to stagnation or avoiding money altogether.  There’s food on the table and a roof over your head, so no need to go beyond that. That’s not what I mean.  Here’s what I’ve come up with: 

Take care of your current needs and future needs.

Making sure you have enough to meet all your current needs is important. But feeling confident that you are doing the things (e.g. saving) you need to do for your future self is also critical in helping you feel like there is enough in your life. Cultivating a sense of enough does not mean eschewing the idea of saving or accumulating money, but rather keeping healthy boundaries about what you really need to do. For example, to maintain my lifestyle and have the option to stop working at some point later on in life, I need to save $X/year. Where we go off the rails: Yes, I know I only need to save $X, but what if I continue working really hard and saving $X + $Y per year. Then how much can I save…and spend?

Practice understanding needs and wants.

A critical part of meeting your current needs is being clear about what your needs are versus what your wants or “nice-to-haves” are. If meeting your needs means paying for a home and food and nothing more, then you can feel more comfortable with what you have. The more things that become needs, the more difficult it is to distinguish them from wants. Is taking five vacations a year a need? Is a bigger and more expensive apartment really a need or a “nice-to-have”? 

Watching lifestyle creep.

This idea is best captured in the phrase, “Keeping up with the Joneses.” As you earn more, try to keep a lid on what your lifestyle will cost. That will drive a wedge between what you earn and what you spend. It will also keep you more in line with what is enough and allow you to save more. If you spend less and save more, guess what? You’ll have enough!  

Read More: Why is it so easy to spend money?

Remember a time when you had less and how you felt.

Whenever you are having a moment of scarcity, remind yourself of a different time when there was less and then see where you’re at now. I think back to my first job out of college. I think about how all my needs were met and how I did that with very little money to my name. If I felt empowered and good then, why can’t I know when I have more?

Remember to practice gratitude.

Finally, practicing gratitude for what you do have in your life is a key pillar to feeling like you have enough. When we learn to appreciate what we have, we realize how much we really do have and that we don’t actually need more and more. 

Part of my intention with clients is not only dealing with the nets and bolts of their financial lives but helping them get to a place where they feel like they have all they need. When they can start to live with the mindset of having enough, the joy that it brings will come with it.

Here are some terrific resources on feeling enough with your money.