KQ Article

Everyone wants to be happy. It’s hard-wired into all of us. Remove the complexity from modern society, and you'll find this single motivation behind almost all of our actions.

The recent rise and fall of our economy is no exception. We've just come off a euphoric ride where possibilities seemed endless. Times were good for many, but tomorrow looked better. We were chasing happiness at a full sprint. In the process, our focus shifted away from the present moment, toward some perfect state of living far off in the future. The reason for this is simple. Consumerism depends on the assumption that we don't have enough now, and that only by acquiring more will we have enough to be happy later.

It is in that very statement, "in the future, be happy," that the problem lies. In the ruins of all that has occurred, people finally see in hindsight that consumption was elevated from a means to an end, and that we may have lost sight of the ultimate goal of all of this, our happiness, in the process.

THE COST OF PLANNING
If you've paid attention to U.S. bestseller lists recently, you've probably seen them crowded with titles on happiness. In one such title, Stumbling on Happiness, Peter Gilbert suggests that obsessing over the future and being happy might actually be mutually exclusive pursuits.

In the book, Gilbert focuses on a portion of our brains that makes us distinctly human: the frontal lobe. This is what allows us to plan and think about the future. But Gilbert suggests that this capability comes at a price. It occupies our minds with anxiety over events that have not yet occurred, leaving scarce mindshare for awareness of the present moment — the only place where happiness can be experienced.

Presumably, this ability to conceptualize the future is what makes us superior to other animals. But might it also make us less capable of being happy? Take Bailey, my golden retriever. She is grossly inferior in her ability to contemplate what she will do later today or this week. Yet she is superior in her ability to live in the moment — and she sure seems happy because of it.

IMPACT ON FINANCIAL SERVICES
It is unlikely we're going to start acting more like dogs. But I think we should recognize that we have worked our way into a disaster that has turned us off consumerism and obsessions over the future, and onto our need to be in the present moment, rewarded by feelings of happiness.

This sounds appealing to me as an individual. But as a professional in the financial services industry, I feel conflicted between wanting to plan for the future and focusing on today. This brings into question the effort many financial institutions have put toward trying to be seen as a financial planning resource.

As we move into this increasing desire for happiness, perhaps banks and credit unions should go easy on their aspirations of being financial planners, and embrace their position as a service that enables each and every day. Right now. This moment.

So try going back to the banking fundamentals a bit. Greet everyone. Keep the lines moving. Show a member a cool online banking capability, or introduce direct-deposit payroll to a small business owner. The list continues. These measures will help customers and members get more from their banking experience now. And we might all find more happiness in the moment, just like Bailey.