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Defining Enough

One of the foundational works in the development of my financial philosophy is the classic book Your Money Or Your Life by Vicki Robin and Joe Dominguez. The authors spend a good portion of the book discussing the idea of enough in terms of material possessions.


That's because there is a phenomenon economists refer to as hedonic adaptation: basically, the sheen comes off of any new experience or material item, which means we easily adapt to any betterment in our circumstances (or worsening, for that matter). This is why it feels awesome to drive your new car off the lot, but your delight in your car generally fades sooner than the new car scent.

Robin and Dominguez suggest that every reader of their book figure out their enough point. They ask readers to figure out how they will know when they’ve reached enough so they don’t overshoot it. They suggest that identifying your