Money. We all think about it, need it, and often stress over it. But imagine if our relationship with money was based on calm rationale instead of anxiety or greed? Sounds pretty serene, right?
Well, that’s exactly what Stoicism can teach us.
Today, I’m going to share three Stoic principles that might just transform the way you think about money.
Get ready to rethink your financial mindset… in a very Stoic way.
Let’s get started.
01 True wealth is contentment
02 See wealth as a tool, not as a measure of value
There’s nothing wrong with having money. In fact, financial stability can significantly enhance your quality of life.
But the Stoics believed it’s crucial to view wealth as a tool rather than an idol to be worshipped and that we don’t, in fact, need that much of it and should avoid flaunting it. As put by Epictetus, “For your body take just so much as your bare need requires, such as food, drink, clothing, house, servants, but cut down all that tends to luxury and outward show.” (The Discourses of Epictetus, 1916)
He also said “It is illogical to reason thus, ‘I am richer than you, therefore I am superior to you’, ‘I am more eloquent than you, therefore I am superior to you.’ It is more logical to reason, ‘I am richer than you, therefore my property is superior to yours’, ‘I am more eloquent than you, therefore my speech is superior to yours.’ You are something more than property or speech.”(The Discourses of Epictetus, 1916)
This subtle shift in perspective can prevent money from controlling your life and instead allow you to use it wisely. When money or status symbols become your master, we find ourselves in a constant chase for more, driven by greed and fear of loss.
On the other hand, if you see wealth as a tool, you remain in control, using it to serve your needs and goals.
Practical Application
To put this principle into practice, start by defining what money means to you. Is it security? Freedom? A means to help others?
Once you identify its purpose, you can make financial decisions that align with your values rather than societal expectations.
For instance, instead of working long hours solely to accumulate more money, consider how you can use your existing resources to improve your life and the lives of those around you. This might mean investing in experiences that bring joy and growth, such as travel or education, rather than in material possessions that provide only temporary satisfaction.
03 Keep in mind that wealth too, is impermanent
The Stoics were highly conscious of the impermanence of life.
As Marcus Aurelius eloquently observed, “There is a kind of river of things passing into being, and Time is a violent torrent. For no sooner is each seen, than it has been carried away and another is being carried by, and that, too, will be carried away.” (The Meditations of the Emperor Marcus Antoninus, 1944)
Have you ever considered how fleeting wealth truly is?
Well, it is. Understanding this can fundamentally change our relationship with money, helping us appreciate it without becoming overly attached.
When we recognize the temporary nature of wealth, we can better prepare ourselves for the inevitable ups and downs of financial life. This perspective shields us from the despair that often accompanies financial loss and allows us to navigate life’s uncertainties with resilience and grace.
Practical Application
To apply this Stoic principle, start by embracing the concept of impermanence in your daily life. This doesn’t mean you should become indifferent or careless about money, but rather that you should cultivate a mindset of flexibility and preparedness.
Understand that financial success can be fleeting, and that’s okay.
One way to internalize this is by practicing detachment. This doesn’t mean you don’t care about money, but that you don’t let it define your happiness or self-worth. For example, if you experience a financial setback, remind yourself that this is part of the natural ebb and flow of life. Instead of reacting with panic, focus on what you can learn from the experience and how you can adapt.
Also, focus on building non-material forms of wealth, such as relationships, skills, and personal growth. These are assets that, unlike money, cannot be easily taken away.
This Stoic approach not only helps you manage money more wisely but also cultivates a sense of inner peace and stability, regardless of your financial situation.
The bottom line
These simple principles have revolutionized my relationship with money, turning it from a source of stress into a tool for building a life aligned with my values. And they could do the same for you.
Just start small. Choose one or two principles to incorporate into your financial mindset, and see where they lead you.
And remember, it’s okay to stumble along the way.
Stoicism (and real wealth) isn’t about achieving perfection. It’s about continuously striving to make better decisions, be more mindful, and, ultimately, live a life of contentment, peace and purpose.
What would Marcus Aurelius say?
Unsure what to do next in your career? Struggling to move on from a failed relationship? Searching for more meaning in life?
Marcus Aurelius can tell you how to face your challenges in a more Stoic way.
Simply ask your question, and Marcus Aurelius will answer.
