Two of the most powerful resources we have are our money and our time. Both are meant to improve our well-being, yet how we choose to use them has a significant impact on our general well-being.
For many, accumulating wealth feels like the ultimate goal. While financial stability brings comfort and security, true fulfillment comes from using our money in ways that reflect our values—not just how much we save. By balancing thoughtful saving with purposeful spending, we can create a life that’s both less stressful and more rewarding.
Time and money often have an inverse relationship—gaining more of one often requires the sacrifice of the other. Dedicating more time to earning money can leave less room for relationships, rest or meaningful pursuits. On the other hand, prioritizing personal fulfillment may limit financial opportunities. Finding a balance between these two resources is key.
Research shows that people who value time over money often report greater happiness. Spending time on social connections, hobbies, or helping others tends to provide deeper satisfaction than simply accumulating wealth. Once your basic needs are met, spending money on experiences or meaningful causes often brings more lasting joy than buying material things.
This doesn’t mean money can’t improve your life—rather, it’s a reminder that thoughtful spending makes the biggest difference. Investing in experiences, supporting others or creating more free time can help you use your money in ways that truly enrich your life.
Money As a Tool
Money by itself has little use to us. It is only meaningful because of the inherent value we place on it. Without meaningful ways to use money as a tool to benefit us, it’s just a piece of paper.
Research supports the idea that we can better allocate our money to improve our own lives. Prosocial spending—using one’s own financial resources to benefit others—is one of these methods and has been shown to lead to higher levels of satisfaction and happiness compared to just buying random “stuff.” Allocating funds to causes and organizations that hold personal significance can enhance your sense of purpose and satisfaction. This targeted approach to giving benefits both the recipients and your own well-being, enhancing feelings of fulfillment and accomplishment.
If there is an organization that is meaningful to you then donating to it will more than likely invoke a greater sense of joy than if you were to spend that same amount of money on yourself. Money is a tool that can provide security, fulfillment and joy—but only when used with purpose. Take a moment to reflect on your spending and consider whether it truly supports what matters most in your life.
Health and Happiness
Aging is a natural part of life, and while we strive to slow it down, there’s no way to stop it entirely. As we grow older, our health often changes, and things that once felt easy may become more challenging.
When thinking about your life goals, consider this: Will you be healthy enough to pursue them when you’re planning to? For example, many people dream of traveling during retirement but may not account for how aging could limit their ability to take on those adventures.
By creating a timeline for your life goals, you can better align them with the stages of life when you're most capable of achieving them. This may inspire you to prioritize certain experiences earlier, while you're still physically able to enjoy them to the fullest.
Time Well Spent
If managing your time is just as important as managing your money, what’s the best way to spend it?
Research shows that dedicating your time to others or engaging in meaningful activities can make you feel like you have more time. Helping others often brings a sense of purpose and accomplishment, which can make your day feel more productive and rewarding.
Think about it this way: Most people feel better after a busy day spent completing tasks than after a full day spent sitting on the couch. While rest is important, finishing meaningful tasks often leads to greater satisfaction.
Many chase exciting or rare experiences to boost their happiness. While those moments can be memorable, they aren’t always necessary to feel fulfilled. In fact, as we get older, we tend to find more joy in simple, everyday moments—like sharing a meal with family, taking a walk with a friend or enjoying a quiet morning with a cup of coffee. These small moments can feel just as rewarding as the big adventures we once sought out.
The best part? Meaningful moments don’t have to cost money. Spending time with loved ones, volunteering or working on personal projects can be incredibly fulfilling.
By saving money during your working years, you can create opportunities to “buy back time” later in life. This could mean retiring earlier, spending more time with family or pursuing hobbies and passions. Whether that means working on something you love or stepping away from work altogether, having the financial freedom to choose how you spend your time is invaluable.
In the end, money is just a tool—its true value comes from how we use it. By spending both your time and money in ways that align with what matters most to you, you can create a life that's rich in meaning, not just wealth.
Busey Wealth Management is here to help you reach your financial goals so you can live life to its fullest. To learn more about our holistic services or find an advisor near you, visit busey.com/wealth-management.
This is not intended to provide legal, tax or accounting advice. Any statement contained in this communication concerning U.S. tax matters is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties imposed on the relevant taxpayer. Clients should obtain their own independent tax advice based on their particular circumstances.
This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.
This presentation is for general information purposes only. It does not take into account the particular investment objectives, restrictions, tax and financial situation or other needs of any specific client.