What is wealth?
More than being rich
A lot of people think wealth is all about being super rich and having nice things; however, it's not. While money and possessions are one component of wealth, it also includes having the freedom to make your own choices and living a fulfilling life; ideally, the life you want to live. Being wealthy means having a lot of wonderful things in your life that bring you happiness and success, both in material and non-material ways.
Here is a short list on what could make a person wealthy:
- Good health
- Strong relationships (with friends, family, and a significant other)
- Quality education
- Breadth and depth of experiences (e.g., traveling the world, seeing different cultures)
- Happiness and personal fulfillment
- Freedom to choose how you spend time
- Accumulated net worth
Why focus on finances?
A great question to ask is: “If wealth is more than just being rich, why focus so heavily on finances?”
Mastering your finances is the fundamental building block of wealth that enables the other areas to be explored. Further, it is often the most challenging component of building wealth for a variety of reasons. Most people struggle with earning and accumulating money, not with spending it on things that will make them happy. WealthGPS hopes to help you succeed in achieving whatever aspirations you have set for yourself by providing an empowering financial education.