Right Mindful Asset Management for Happiness: A Case Study of Anathapindika the Wealthy in the Context of 21st Century Thai Society

Abstract

Thai society in the 21st century faces household debt problems reaching 89.3% of GDP, stemming from low financial literacy, materialism, and the absence of spiritual dimensions in wealth management. This article examines Anathapindika's wealth management approach based on right mindfulness (samma-sati) and analyzes its application in contemporary Thai society. Right mindfulness in wealth management comprises the integration of the four foundations of mindfulness: awareness of genuine physical needs, understanding feelings toward gaining or losing wealth, recognizing mental defilements, and comprehending the impermanent nature of assets. Anathapindika exemplifies wealth management in three dimensions: earning wealth through honesty, using wealth moderately, and non-attachment to possessions. Applications in contemporary Thai society encompass acquiring wealth through right livelihood, mindful consumption, prudent saving and investment, wise wealth sharing, and integration with modern financial technology. The study finds that mindful wealth management creates balance between material prosperity and happiness, reduces financial stress, and suits the Thai social context rooted in Buddhism and aligned with the Sufficiency Economy Philosophy, leading to financial security and sustainable well-being.