Episode 100 — A License to Spend: How to Use Your Money to Create Compounding Memories

Overview

Welcome to the 100th episode of the One for the Money podcast! In this milestone episode, we explore the driving force behind our work with clients: giving them permission—a license—to spend intentionally so they can create a richer, more meaningful life.

While compound interest is powerful, the compound effect of memories is even greater. We discuss why now—not someday—is the time to invest in the experiences that matter most. From family road trips to sabbaticals, from national parks to international adventures, this episode dives into the intersection of money, time, and health, and how better planning leads to a better life.

In the Tips, Tricks, and Strategies segment, we break down six research-backed ways money can buy happiness—when used intentionally.

What You’ll Learn

• Why memories compound better than money
• The importance of spending earlier, not later
• How health, time, and money intersect—and why waiting until retirement is often too late
• How experiences become lifelong “dividends” to your future self
• Insights from Die with Zero by Bill Perkins
• Why Americans struggle to take vacation—and why that needs to change
• Six evidence-based ways money can truly enhance happiness
• How better planning gives you a “license to spend”

Key Takeaways

• Memories compound over time and are often worth more than the dollars saved.
• You can’t get your health or your kids’ childhood back. Use your money when you have both time and vitality.
• Spending intentionally—especially on experiences—yields long-term happiness.
• A financial plan exists to help you live well, not simply to help you accumulate more.
• Don’t wait until retirement to enjoy life. Balance smart saving with purposeful spending.

Resources Mentioned

• Book: Die with Zero by Bill Perkins
• Article: “6 Ways Money Can Buy Happiness” — Ronald Sier on Kitces.com
• Podcast inspiration: Tim Ferriss Show (question on most-gifted book)
• Concept: “Sharpen the Saw” — Stephen Covey, The 7 Habits of Highly Effective People

Six Research-Backed Ways Money Can Buy Happiness

1. Spend on others, not just yourself
2. Spend to buy time and reduce stress
3. Spend now, enjoy later — the power of anticipation
4. Spend on experiences, not things
5. Spend on small pleasures more often
6. Spend to support fundamental human needs — growth, connection, purpose

Quotes From This Episode

• “Memories compound better than money.”
• “A financial plan is not just about avoiding running out of money—it’s about avoiding running out of time.”
• “Life is a choice. Choose consciously. Choose wisely. Choose memories.”