Happy Money Happy Life: A Multidimensional Approach to Health, Wealth, and Financial Freedom

By Jason Vitug

Transform your relationship with money into one that powers true wellbeing. Money can buy happiness when you spend it on wellness. 

In Happy Money Happy Life: A Multidimensional Approach to Health, Wealth, and Financial Freedom, celebrated writer, speaker, and entrepreneur Jason Vitug delivers an exciting and practical discussion at the intersection of our mental and emotional health and our money. You’ll explore the importance of physical and spiritual wellbeing, the interconnectedness of environmental comfort, meaningful work, and social connections as you learn to live a healthier, wealthier, and happier life. 

With insightful takeaways from happiness research, you’ll understand how money weaves itself into every aspect of your life and how you can masterfully use it to choose happiness. 

In the book, you’ll find: 

• Descriptions of the 8 dimensions of wellness and a hands-on framework you can use to achieve your financial and life goals 
• 4 key principles to living a happier life 
• A holistic strategy for transforming your relationship with money into one that improves every aspect of your wellbeing 

An indispensable roadmap to mental strength, physical health, financial success, and emotional intelligence, Happy Money Happy Life is ideal for professionals, managers, workers, executives, and other business leaders ready to explore the possibility that life is about joy and happiness, not merely titles and salaries. 

• Language: English
• Publisher: Wiley
• Release date: Jan 25, 2023
• ISBN: 9781394171286

Book preview

Happy Money Happy Life

A Multidimensional Approach to Health, Wealth, and Financial Freedom

Jason Vitug

Logo: Wiley

Copyright © 2023 by Jason Vitug. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data is available:

ISBN 9781394171262 (Hardback)

ISBN 9781394171279 (ePDF)

ISBN 9781394171286 (ePUB)

Cover Design: Paul Mccarthy

Cover Art: © Jason Vitug

To my family and friends, the wealth I value most.

Preface: Better Luck Next Life

I was shaking my head before I uttered, Impossible.

You're burnt out, my doctor blurted, with his eyes solely fixed on an iPad.

How could I be burnt out from doing work I really loved? Okay, I've been on the road for almost two years, but I enjoyed it. Sure, I have been tired during the day and restless at night. The headaches come, but they do go away eventually. The physical aches that often forced me to cancel meetings, I suppose, didn't happen all that often. And truthfully, I thought it was kind of funny that I needed a nap in the middle of conversations with friends. I was unable to keep my eyes open.

There has to be something else going on.

His eyes now fixed on me with furrowed brows, he says, The tests are negative. Based on the symptoms you've shared, I'd say stress and possibly adrenal fatigue, but that's not a real diagnosis.

I left the doctor's office in shock. I was not shocked that I was stressed, but I was shocked that I'd been in this situation before. The mental stress, the emotional rollercoaster, the weight of financial responsibilities, and the workload—enjoyable or not—took a toll on my health.

Something was wrong. But I've mastered the skill of mental gymnastics. My hair was thinning and falling out, but maybe it's just genetics. I easily covered the rash on my chest—out of sight, out of mind. And the dark circles and bags under my eyes I could triumphantly explain as a sign of someone working hard for their dreams. Rather than do what I needed to do, I justified doing the opposite—to get things done. My body, however, had other plans; how I felt inside was now making an appearance outside.

You'd think I'd slow down. Instead, I made the ill-considered decision to keep going. Why? As a recently successful speaker and bestselling author, I was in high demand, and this was a once-in-a-lifetime opportunity. Hashtag YOLO, am I right?

When I wrote You Only Live Once, I shared the knowledge that time is short but can also be quite long. Within the book, I stated that the goal was to find the balance of living well today while financially planning for a better tomorrow. Time was an asset to live our dream life in this lifetime. And I shared parts of my story: I didn't grow up with much but had my essentials covered. I worked through college, made financial mistakes, ascended the corporate ladder, earned good money, and retired 40 years early. Truth be told, I didn't plan on retiring—it was more of a break. A tightly held secret of a mental break. Fortunately, my finances enabled me to take time off—a sabbatical year—in the middle of my career.

Are you serious? my brother asked at the time.

My parents thought I was going mad. Friends were questioning my decision in professional terms. And some coworkers were heard whispering, He must be rich. I wasn't rich, but I was financially secure. I did plan to return to corporate America. But walking on the nontraditional path, the world offers enticing challenges and unique opportunities. My life wouldn't be the same.

In my case, I found myself as an accidental entrepreneur with a growing platform and an actionable process. I shared my story and championed my purpose. My message resonated with thousands of people. The framework helped many achieve financial and life goals. It seemed I had found my way.

But behind the success, I was struggling mentally and emotionally. The stress of entrepreneurship led to exhaustion. Dealing with the health issues of loved ones and my own took its toll. They had a real diagnosis, but I only had symptoms. I also never fully grieved the loss of a good friend. I pushed forward instead of pausing. And I continued to struggle with the intimacy of relationships and suppressed childhood traumas. The psychological weight of it all began affecting my physical health, which impacted my ability to earn income and began hurting my financial well-being. All that stress led me to withdraw socially. And as time passed, I started wondering which came first, the mental struggles or the financial issues. I didn't know where to begin or how to fix the messiness.

My phone rang. I got a call from my finance guy. The person I hired and entrusted with my money said he made some very bad decisions. Without hesitation, I let him go and used my skill at mental gymnastics to fool myself that it wasn't a big deal: I could fix the problem. At that time, I didn't understand the extent of my growing financial crisis.

I got another phone call. It was the hospital letting me know my mom was admitted after passing out at work. My mother has health issues related to chronic stress, but this time it was different. Something else was going on. To be with my mom, I shortened a work event in Tennessee. And while she was still in the emergency room, my dad also ended up in the ER. So, there I was, visiting two hospital beds. I was being visibly strong for my parents and running my growing business. In reality, I was just trying to keep it all together.

And in keeping with Murphy's Law, I received yet another phone call, this time about a legal issue. The person angrily stated they'd tried reaching me multiple times. The woman on the other end of the call was vocally agitated. She wanted me to pay up. But as someone who knows a thing or two about finance, I knew my legal rights and asked for more details. She didn't respond well to my request and hung up. I don't recall the specific financial details, but I remember how this person made me feel. It's seared into my memory. In her words, I was incompetent, useless, and a low-life.

Eventually, I was served a court summons: I was being sued. I tried a reasonable option to make right what my finance person did wrong but to no avail. That led me to seek advice from the alphabet soup of financial professionals: a certified public accountant (CPA), a certified financial planner (CFP®), accredited financial counselors (AFC®), and two attorneys. I created a money team to help me make one of the biggest financial decisions ever.

I started this journey as a financially secure early retiree and ended up as a bankrupted entrepreneur.

Better luck next life, am I right?

We all have mental challenges and emotional baggage. It's often easier to deal with them when we have the financial means or to ignore them by purchasing stuff or taking a vacation (aka taking a break from our stressful life). And when we can't afford these things, we emphasize that the lack of money prevents us from feeling happy. What I've learned is how we're not spending money happily. Sure, you can spend your money as you wish on anything: it's your money. But, spending money to affect your overall well-being leads to long-term satisfaction rather than short-term gratification.

I was left pondering a question: money can solve money problems, but how can money solve life problems?

Getting better with money meant improving my financial health. With better financial means, I lessened my stress levels, but it didn't mean I was living a happy life. I knew how to affect my mood through purchases (goods or experiences), but I hadn't improved my overall well-being.

I kept searching for the answer and came to a realization: it's essential to improve financial health because it gives us the resources to work on life problems.

In 2018, while enjoying a cup of coffee on the balcony of my Airbnb in Positano, Italy, I had an epiphany—it was all connected. Everything. My financial, mental, and physical health were all connected. My research led me to the eight wellness dimensions: intellectual, physical, emotional, spiritual, financial, environmental, occupational, and social health.

After understanding the different wellness dimensions, I realized their interconnectedness. Working on one dimension impacts another and can affect multiple areas. It gave me an idea. To improve my condition, I needed to address an area of high concern at the time—my finances. I focused on financial health, a dimension I had more knowledge in, to get the biggest impact.

My efforts to improve my financial health led to making the best financial decision for my situation. It would eventually lead to a positive ripple effect on other wellness dimensions.

But making the best financial decision wasn't easy. It tested and pushed the limits of my emotional and spiritual health. If my identity was tied to professional and financial success, then who am I? I was someone who felt broken and defeated. It was a time of so much turmoil and pain. I was deathly afraid of what other people would think and wasn't sure if I could handle any more stress.

I sought therapy and decided to take a step back—allowing myself time to process. Unfortunately, stepping away from the work that made me feel alive only left me feeling alone. I lost my sense of purpose and, with it, my spirit—my inspiration to participate in life. I felt worthless, a sham, an imposter until a good friend said, You know who your people are when they cheer for your resurgence.

Well, this is my resurgence. The test of my resiliency against the grip of ill-ness to a space of well-ness. I am in a happy place. I've become more open about my struggles and how those issues affected my financial health. And how improving my financial health has elevated my overall well-being. In this journey, I'm learning my willingness to be vulnerable publicly is helping in my healing and giving others HOPE—Hearing Other People's Experiences.

Through all this, my belief holds true: you only live once. But you get the opportunity to have many lives in one lifetime. When one journey ends, another begins. We are allowed to make mistakes but must give ourselves space and grace to move past them. We can start anew. We can reinvent ourselves a multitude of times. We can try and fail and try again. And when we hit rock bottom, it simply means we're only left with one option—the choice to go up. I chose to get up.

If you're wondering where better luck next life came from, it was from a fellow blogger who attended my You Only Live Once book event at a financial conference in San Diego. He shared his cultural belief in reincarnation and explained that the phrase better luck next life is a reminder that we get to live again and again until we get it right. So, he jokingly said I was wrong and that we don't live just once. Well, I do know one thing for sure: we get an opportunity to live again and again until we get it right but in the span of one lifetime.

Who knew years later that four words from a stranger would be the perfect preface title to encapsulate a period of my life? I wish I remembered his name and could thank him. But if that's you and you're reading this, I want you to know I'm having better luck in my next life.

In the past few years, we've been through a lot. We all have experienced a time filled with loss, uncertainty, fear, and pain. Its psychological impact will be felt for years. It makes sense that mental and emotional health is a topic of importance for many. And it's a reason why I've written this book. I want to share the interconnection of financial health with overall well-being to guide you to a healthy and happier version of yourself.

Surprisingly, with all the economic uncertainty, my toughest financial decision better prepared me for the pandemic. I was mentally stronger, doing financially well, and had a reorganized business positioned at the forefront of financial health. And in the loneliness of quarantine, I found a renewed sense of purpose and vigor to serve it.

During the quarantine, my scheduled speaking gigs were postponed indefinitely, so I used my free time to address an area I had neglected for far too long—my physical health. As a self-described bad cook, I learned to cook healthy using meal kit delivery services. And after years of on- and- off practice, I completed my 200-hour yoga teacher certification and finally understood yoga—a connection of mind, body, and spirit. I was also introduced to the power of breathwork (and got certified, too), which is helping me respond to my thoughts and feelings.

As the pandemic days turned to months, I read many books to understand myself, others, and the world and my place in it. I became that dog person who must hold the world record for dog photos on a smartphone and gained a deeper understanding of emotional intelligence.

In many ways, I'm living a different life within the same lifetime.

Some people, believing I've made an unforgivable financial decision, will ask why they or anyone else should listen to me. As my money team would collectively say, some of the biggest voices in personal finance and business have no issue using their legal right to asset protection. And my attorney would add, it just makes them more relatable.

I'm unsure if they're more relatable but they're possibly more like real people. I'm a real person who's faced personal struggles and financial challenges but still holding onto hope and big dreams. I know many people facing a multitude of wellness issues and holding onto hope and big dreams. Maybe you're one of them, and that's why this book is in your hands.

In my previous life, I didn't know how to share these stories of mental health and financial issues. Fortunately, in living my next life, sharing these stories of health and wealth is the basis of Happy Money Happy Life.

Perhaps you'll relate to my story or be repelled by it. But maybe, just maybe, you'll come to learn how someone who seemed to have it all together and then lost it all was able to bounce back healthier, wealthier, and happier.

A Poetic Introduction

Happy money truths.

You will save.

You will invest.

You will pay off debt.

You will spend a little less.

And make a bit more.

But You will live.

Not just alive.

Willing

and Living.

A happy life.

Less money worries.

And more life stories.

Introduction

You want to be happy.

I believe you deserve to be happy, so I've written this book for you. If you've picked up this book and believe money can help you be happier, you're in for a treat. And if you believe money can't buy happiness but are open to new ideas, this book is most definitely for you too.

I wrote this book because I discovered a fundamental truth—money isn't everything, but it impacts most things.

And as in most things, money affects how you think and feel about yourself and how you relate to others, and it impacts your experiences at home, at work, and in society.

Money affects your happiness.

Whether you agree or disagree that money can lead to a happy life, we've built a society that runs on money. And those who learn to master it gain the advantage of choosing happiness.

But, money can't buy happiness, people have said repeatedly. I believe this is said in an effort for some to keep the truth a secret. The people who understand money's effect on happiness often earn more and create wealth, while those living without the truth struggle to make ends meet.

Money can buy happiness because it allows you to afford the necessities of life, such as housing, food, clothing, and medicine. And when you're able to pay for the essentials and some luxuries too, it becomes easier to choose happiness.

While money can buy happiness, money isn't happiness.

It's crucial to understand the difference. Your purpose in life is not to chase, earn, and hoard money. It's a resource to be used. When used according to a set of principles (you'll learn in this book), it enables you to serve a greater good, your life's purpose.

You need to be good with money to have a happy life in this world. That doesn't mean you need to earn the most, have the most, or even be a millionaire (although I will share how to do just that). This book approaches money as your tool; as such, you'll need to learn what it is, how to handle it, and where to use it to achieve your goals.

I will challenge your beliefs about money and its tangible and intangible qualities, and provide you with a practical and systematic approach. You will learn to shift your thinking to enable money to flow into your life, so you can direct the outward flow to areas that support your happiness and well-being.

But I've also learned why so many, including myself, have difficulty allowing money to flow and why we've been messy with our finances. The financial messiness fosters a lot of stress. It takes a toll on our mental and emotional well-being, often manifesting itself in physical ailments. And if that wasn't enough, being a financial mess can affect our experiences, relationships, work satisfaction, and living conditions.

Could you reach financial milestones and still be unhappy? Absolutely.

Is it possible you are overspending to buy happiness? Possibly.

Are you not happy because of your finances, or are your finances a result of your unhappiness? The goal of this book is to help