The S&P 500 was down almost two percent last week. After good news with NVDIA earnings, doubts of a December rate cut pushed the markets lower. More jobs were created than expected, and initial unemployment claims were down, but the unemployment rate still rose to 4.4%. Lower interest rates are generally a positive thing for stocks, and especially technology stocks, a key component of the S&P 500 Index. We’re still up over 12% for the year, so don’t panic just yet.
As we start Thanksgiving week, and most of us begin holiday shopping, it’s a good time to reflect on the three ways money can buy happiness. First, money makes you happy when you buy experiences. But the experience doesn’t have to cost a lot. A picnic, a homemade meal, a trip to the zoo or free museum, a concert in the park. If you’re buying gifts for a family, consider museum memberships, paying for activities, or other experiences.
Money also makes you happy when you buy time. Having lawn or housekeeping services, or paying someone to paint your house rather than doing it yourself. If you’re looking for gifts, consider offering to do a chore for someone, or pay to have it done for them. A great example is a gift certificate for laundry service.
Finally, money makes you happy when you give it away to a cause you believe in. As we approach year-end, the tax impact can be a bonus. Seeing the impact your gift has made is even better. Think of things that would call to you: paying for school lunches for kids; supporting an angel tree; the arts; education; preservation. Buy a stand-by dog at Pip’s, or support a budding musician with the Youth Chorus of Annapolis. If you’re looking to help what some call “the forgotten middle”, Anne Arundel Community College has HelpLink, a fund for micro-grants to students who have emergencies with transportation and other expenses during the school year.
Your action item this week is to give thanks. Focusing on the ways you have been blessed is another way to increase happiness.
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