When you hear the word “wealth”, it’s often money or other financial assets that come to mind. However, wealth can encompass far more aspects of your life and setting out what it means to you could improve your overall wellbeing, and help you make decisions that support it.
On 5 December 2025, the annual UN event, International Volunteer Day, takes place to recognise the value of volunteering around the world.
As well as providing a chance to support local causes, volunteering could reframe what’s most valuable to you.
While many charities and social organisations rely on financial support to keep operations running, volunteers provide something that’s just as important, their time. So, rather than thinking of wealth in only material terms, considering how you use your time and what could improve your wellbeing could make you feel wealthier by a different measure.
Volunteering could help you identify your purpose or passion
Volunteers donate their time and skills to support a cause, but they’re also likely to benefit from it. Being part of a team that’s making a difference can feel hugely rewarding and give people a sense of purpose in their lives.
So, while volunteering doesn’t come with a financial benefit, it can help individuals live richer lives.
Exploring different volunteering opportunities in your area to mark International Volunteer Day could help you find a new passion. Whether you’re drawn to tutoring, working with rescue animals, or cleaning up a local park, finding something that gives you purpose could improve your wellbeing.
This approach can also help reframe wealth outside of volunteering – are you using your time in a way that supports your sense of purpose or happiness?
When you’re making decisions about your lifestyle, keeping this question in the back of your mind can be useful and help you live a more fulfilling life.
Imagine you receive £1,000 to spend however you wish. Material items might come to mind first, perhaps there’s a new gadget or item of clothing you’d like. Yet, items often boost your happiness for only a short period of time.
In contrast, rather than focusing on simply spending the money, thinking about how you could use it to fill your time with experiences you value could boost your wellbeing to a greater degree. You might use the money to book a weekend trip to a historical location with your partner, attend a sporting event with friends, or visit the theatre alone to see a show that’s receiving rave reviews.
Volunteering could widen your social circle
Working with a group of volunteers could help you benefit from another form of wealth – social connections.
Studies have consistently shown that strong relationships with family, friends, and your community can improve your emotional wellbeing. Indeed, lonely people are more likely to experience poor mental and physical health.
So, alongside thinking about how you spend your time, who you spend it with could be just as important.
Refining wealth could support your financial plan
Your financial plan isn’t just about how to manage your finances and increase your monetary wealth. It’s about using your assets to create the lifestyle you want.
So, redefining what wealth means to you could help you make financial decisions that support this. For example, you might want to create financial security to ensure you’re able to volunteer regularly at a local charity, spend more time with family, or pursue a goal of launching your own business.
Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.