Make sure you have a sufficient emergency fund.
Financial emergencies will occur. Those who have a sufficient emergency fund can often deal with them with relative ease. Those who do not have a sufficient emergency fund can find that a financial emergency, or even just the fear of a future financial emergency, to be a source of tremendous stress.
According to the Federal Reserve, 46% of Americans would struggle to meet emergency expenses of just $400. This lack of access to emergency funds creates a constant feeling of financial instability which can be a source of financial unhappiness.
Therefore, a strategy to increase financial happiness is to anticipate financial emergencies ahead of time and accumulate money in an accessible fund which can be used to deal with financial emergencies. This will make financial emergencies a normal part of budgeting and spending plans rather than a catastrophic event that requires a lifestyle adjustment to deal with.
In addition, even if a financial emergency does not occur, having an emergency fund can lead to increased happiness by creating a feeling of financial stability that makes day-to-day financial decisions easier to deal with.