Economy

The Happiness Budget: Why Spending Less on Things Can Buy You More Joy

Published

5 months ago

27/08/2025

We live in a world where happiness is often sold to us with a price tag. A new phone, a bigger car, a better wardrobe—advertisers make us believe these things will make us feel complete. But here’s the twist: the less you spend on “stuff,” the happier you might actually be.

It’s not about being cheap; it’s about being intentional. Creating what I like to call a “Happiness Budget” can change how you see money, helping you buy fewer things and get more joy from life.

Why getting more stuff won’t make you happier

When was the last time you really spent a lot of cash? Who knows, maybe it felt great at first, but for how long? This is known to psychologists as the “hedonic adaptation.” We quickly get used to new things, and the way they make us feel soon goes away.

You might want to spend your money on something more important instead of the next thing you want. That’s where making smart money choices comes in. For example, people who focus on learning how to grow and manage their money—like those exploring trading crypto—often feel more secure and free to spend on experiences that genuinely matter.

A report from Futurity supports this idea: people who spend less on material goods and more on meaningful activities report higher long-term happiness.

The Happiness Budget: What It Really Means

The Happiness Budget isn’t a strict rule—it’s a mindset. You’re not cutting spending just to save money; you’re choosing to spend on things that bring lasting satisfaction. Here’s how it works:

Cut spending on status purchases. Buying to impress others gives you short-term excitement but little long-term joy.
Redirect money to experiences. Buying a new device doesn’t always make you as happy as going on a trip, doing a hobby, or learning something new.
Put money into freedom in the future. Put money away or invest in ways that will make you less stressed about money later. Having peace of mind is worth more than anything else.
Get fewer things, but make sure they are better. Choose quality over quantity when you do buy anything. It feels better and lasts longer.

It’s not about denying yourself – it’s about being careful with every dollar.

Why Less Feels Like More

You have to appreciate what you already have when you spend less. It also makes room for thankfulness. You like a simple cup of coffee with a friend more when you’re not trying to find the next big thing in fashion.

The trick to happiness is to stop comparing yourself to other people. When you’re not trying to “keep up” with the latest fashion, car, or tech, you feel lighter. You stop working just to buy things you don’t need, and that frees time and money for what truly matters.

Building Your Own Happiness Budget

If you’re ready to try this, start small:

For a week, write down everything you spend. Pay attention to how much you spend on things you don’t need.
Go out to eat or buying things on a whim less often. Then, spend that money on something important, like a weekend trip or learning a skill you’ve always wanted to get better at.
Ask yourself, “Will this make me happy next year or just this week?” before you buy something.

Last Thought

Making better choices with your money might make you happier, but having more money doesn’t mean you’ll be happier. It’s not about giving up things; it’s about being free. You spend less on things that don’t matter and more on the things and people that really make life great.

No one will remember the fancy shoes you bought two years ago, in the end. The walk with friends, the new skill you picked up, or the peace of mind you felt when you knew you had enough money are things you’ll always remember.

Economy

Crypto Investor Bamu Gift Wandji of Polyfarm in EFCC Custody

Published

22 minutes ago

31/01/2026

Dipo Olowookere

By Dipo Olowookere

A cryptocurrency investor and owner of Polyfarm, Mr Bamu Gift Wandji, is currently cooling off in the custody of the Economic and Financial Crimes Commission (EFCC).

He was handed over to the anti-money laundering agency by the Nigerian Security and Civil Defence Corps (NSCDC) on Friday, January 30, 2026, after his arrest on Monday, January 12, 2026.

A statement from the EFCC yesterday disclosed that the suspect was apprehended by the NSCDC in Gwagwalada, Abuja for running an investment scheme without the authorisation of the Securities and Exchange Commission (SEC), which is the apex capital market regulator in Nigeria.

It was claimed that Mr Wandji created a fraudulent crypto investment platform called Polyfarm, where he allegedly lured innocent Nigerians to invest in Polygon, a crypto token that attracts high returns.

Investigation further revealed that he also deceived the public that his project, Polyfarm, has its native token called “polyfarm coin” which he sold to the public.

In his bid to promote the scheme, the suspect posted about this on social media platforms, including WhatsApp, X (formally Twitter) and Telegram. He also conducted seminars in some major cities in Nigeria including Kaduna, Lagos, Port Harcourt and Abuja where he described the scheme as a life-changing programme.

Further investigation revealed that in October, 2025, subscribers who could not access their funds were informed by the suspect that the site was attacked by Lazarus group, a cyber attacking group linked to North Korea.

Further investigations showed that Polyfarm is not registered and not licensed with SEC to carry out crypto transactions in Nigeria. Also, no investment happened with subscribers’ funds and that the suspect used funds paid by subscribers to pay others in the name of profit.

Investigation also revealed that native coin, polyfarm coin was never listed on coin market cap and that the suspect sold worthless coins to the general public.

Contrary to the claim of the suspect that his platform was attacked, EFCC’s investigations revealed that the platform was never attacked or hacked by anyone and that the suspect withdrew investors’ funds and utilized the same for his personal gains.

The EFCC, in the statement, disclosed that Mr Wandji would be charged to court upon conclusion of investigations.

Economy

Nigerian Stocks Shed 0.09% on Mild Profit-Taking

Published

46 minutes ago

31/01/2026

Dipo Olowookere

By Dipo Olowookere

Profit-takers pounced on the Nigerian Exchange (NGX) Limited on Friday, weakening it by 0.09 per cent at the close of transactions.

Investors toned down on their hunger for Nigerian stocks during the last trading session of the week, with selling pressure mainly on the banking space, which shed 0.78 per cent.

The bourse crumbled despite the other sectors closing green, with the consumer goods up by 0.10 per cent, and the energy index up by 0.02 per cent, while the industrial index closed flat.

Livestock Feeds depreciated by 10.00 per cent to sell for N6.30, Learn Africa declined by 10.00 per cent to N8.10, Living Trust Mortgage Bank also slipped by 10.00 per cent to N4.05, Deap Capital gave up 9.97 per cent to trade at N9.39, and Industrial and Medical Gases lost 9.61 per cent to finish at N31.50.

On the flip side, Zichis appreciated by 9.97 per cent to N4.19, Abbey Mortgage Bank gained 9.94 per cent to quote at N9.40, RT Briscoe jumped by 9.93 per cent to N7.86, Haldane McCall grew by 9.90 per cent to N4.33, and Omatek increased by 9.87 per cent to N3.00.

Business Post reports that the market breadth index was positive despite the poor outcome, recording 33 price gainers and 31 price losers, representing strong investor sentiment.

The All-Share Index was down by 156.91 points during the session to 165,370.40 points from the 165,527.31 points achieved a day earlier, and the market capitalisation depleted by N184 billion to N106.153 trillion from N105.969 trillion.

Trading data showed that 687.4 million equities valued at N15.0 billion exchanged hands in 41,553 deals yesterday compared with the 691.4 million equities worth N15.4 billion traded in 38,665 deals on Thursday, implying a jump in the number of deals by 7.47 per cent, and a slip in the trading volume and value by 2.60 per cent, respectively.

The busiest stock on Friday was Veritas Kapital with 80.5 million units worth N197.0 million, Secure Electronic Technology transacted 79.3 million units valued at N87.5 million, Deap capital transacted 33.3 million units for N340.5 million, Access Holdings sold 31.0 million units valued at N703.0 million, and Zenith Bank exchanged 30.6 million units worth N2.2 billion.

Economy

NASD Exchange Rises 0.20%

Published

5 hours ago

31/01/2026

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.20 per cent on Friday, January 30, supported by the gains achieved by two securities on the platform.

During the session, Okitipupa Plc went up by N15.70 to finish at N234.60 per share versus the previous day’s N218.90 per share and Paintcomm Investment Plc expanded by 5 Kobo to close at N11.05 per unit compared with the previous day’s N11.00 per unit.

It was observed that yesterday, there were three price losers led by Geo-Fluids Plc, which dropped 60 Kobo to sell at N5.75 per share versus N6.35 per share, Afriland Properties Plc declined by 35 Kobo to close at N13.65 per unit compared with Thursday’s closing price of N14.00 per unit, and Industrial and General Insurance (IGI) Plc depreciated by 3 Kobo to 66 Kobo per share from 69 Kobo per share.

At the close of business, the NASD Unlisted Security Index (NSI) rose by 7.34 points to 3,630.11 points from 3,622.77 points and the market capitalisation grew by N4.39 billion to N2.171 trillion from N2.167 trillion.

A total of 287,618 units of securities exchanged hands on Friday compared with the previous day’s 1.9 million units of securities, indicating a decline in the volume of trades by 85.6 per cent.

The value of transactions, according to data, was down by 77.2 per cent to N3.1 million from N13.4 million, but the number of deals increased by 31.3 per cent to 21 deals from 16 deals.

Central Securities Clearing System (CSCS) Plc remained the most traded stock by value (year-to-date) with 15.4 million units exchanged for N623.0 million, followed by FrieslandCampina Wamco Nigeria Plc with 1.6 million units traded for N108.5 million, and Geo-Fluids Plc with 9.1 million units valued at N61.1 million.

CSCS Plc also ended the session as the most active stock by volume (year-to-date) with 15.4 million units sold for N623.0 million, followed by Mass Telecom Innovation Plc with 10.1 million units worth N4.1 million, and Geo-Fluids Plc with 9.1 million units valued at N61.1 million.