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

NASD Exchange Rises 0.20%

Published

3 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.

Economy

Naira Now N1,386/$1 at Official FX Market, N1,465/$1 at Black Market

Published

3 hours ago

31/01/2026

Adedapo Adesanya

By Adedapo Adesanya

The Naira maintained its positive performance against the United States Dollar in the different segment of the foreign exchange (FX) market on Friday, January 30.

In the black market, the Nigerian currency appreciated against the greenback yesterday by N5 to sell for N1,465/$1 compared with the previous day’s N1,470/$1, and at the GTBank forex desk, it gained N7 to close at N1,419/$1 compared with Thursday’s closing price of N1,426/$1.

In the the Nigerian Autonomous Foreign Exchange Market (NAFEX) segment, the local currency firmed up against the Dollar during the session by N10.44 or 0.75 per cent to trade at N1,386.55/$1 versus N1,396.99/$1.

Also, the domestic currency appreciated against the Pound Sterling in the official FX market by N25.81 to end at N1,906.23/£1 compared to the N1,932.04/£1 quoted on Thursday, and gained N19.56 on the Euro to close at N1,652.22/€1, in contrast to the preceding session’s closing price of N1,671.78/€1.

The Naira continues to pick form, boosted by stronger FX liquidity, enhanced price discovery at the NAFEX, and a gradual restoration of offshore investor confidence.

Nigeria’s external reserves, which provide the Central Bank of Nigeria (CBN) with the capacity to defend the Naira and stabilise the foreign exchange market, have continued to grow steadily. According to data from the apex bank, gross external reserves rose to $46.17 billion as of January 29, 2026.

FX supply is further supported by strong oil-related inflows and resilient diaspora remittances, which continued to average around $5 billion per quarter, providing a stable and non-cyclical source of foreign exchange liquidity.

Market traders expect the Naira to remain fairly stable and could strengthen further with a bond auction in the coming week.

Nigeria’s external reserves, which provide the CBN with the capacity to defend the naira and stabilise the foreign exchange market, have continued to grow steadily. According to CBN data, gross external reserves rose to $46.17 billion as of January 29, 2026.

In the cryptocurrency market, it further weakened as the US Dollar recovered from a four-year low decline.

Friday’s Dollar strength followed President Donald Trump’s announcement that he would pick former Federal Reserve Governor Kevin Warsh to head the US central bank when Mr Jerome Powell’s term ends in May.

Cardano (ADA) fell by 3.9 per cent to $0.3118, Ethereum (ETH) declined by 2.1 per cent to $2,676.83, Ripple (XRP) depreciated by 1.6 per cent to $1.72, Dogecoin (DOGE) lost 0.9 per cent to sell for $0.1130, and Litecoin (LTC) slid by 0.1 per cent to $64.03.

However, Solana (SOL) added 2.0 per cent to close at $117.67, Bitcoin (BTC) appreciated by 1.0 per cent to $83,416.99, and Binance Coin (BNB) gained 0.6 per cent to sell for $847.49, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.

Economy

Crude Oil Rises as Market Observes US-Iran Tensions

Published

3 hours ago

31/01/2026

Adedapo Adesanya

By Adedapo Adesanya

Crude oil rose marginally on Friday, consolidating recent gains and holding near six-month highs on Friday, supported by tensions between the United States and Iran.

Brent crude futures settled at $70.69 a barrel after it chalked up 2 cents or 0.03 per cent and the US West Texas Intermediate (WTI) crude futures finished at $65.21 a barrel after adding 21 cents or 0.32 per cent.

US President Donald Trump has threatened to strike Iran and repeatedly called on the oil producer to make a deal, which will see it end its nuclear program, limit its ballistic missile capabilities, and sever ties with armed proxies in the Middle East.

If the Islamic Republic does not accept those terms, President Trump has warned that the country will suffer consequences “far worse” than last year, when the United States joined Israel in bombing Iran’s nuclear sites.

The possibility of the American president weighing actions against Iran that included targeted strikes, raised concerns about supply disruptions.

The US, which has strengthened its military position in the Middle East in recent weeks, issued new sanctions targeting seven Iranian nationals and at least one entity.

A rise in the Dollar from four-year put some pressure on oil prices after President Trump announced that he would pick former Federal Reserve Governor Kevin Warsh to head the US central bank when Mr Jerome Powell’s term ends in May.

A stronger Dollar can limit demand from oil buyers paying in other currencies because it will be more expensive.

More pressure came from rising US crude oil output after shutdowns and Kazakhstan nearing the resumption of production at the Tengiz oilfield.

The Organisation of the Petroleum Exporting Countries and allies (OPEC+) is likely to keep its pause on oil output increases for March when it meets on Sunday, February 1.

The eight producers – Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman – raised production quotas by about 2.9 million barrels per day from April through December 2025, roughly 3 per cent of global demand. They then froze further planned increases for January through March 2026 because of seasonally weaker consumption.

Also on Sunday, a separate OPEC+ panel called the Joint Ministerial Monitoring Committee is scheduled to meet. The JMMC does not have decision-making authority on production policy.