"I'm at peace. I know what I want more than ever," Balvin, who's partnering with Cheetos, tells PEOPLE exclusively Bryan Bedder/WWD via Getty After released his fifth studio album , he made a conscious decision to make writing and recording fun again. Now, three years after the release of his fifth studio album Jose, the Colombian star is gearing up to release on Friday, Aug.

9. Speaking to PEOPLE in light of his collaboration Cheetos for the Deja tu Huella program, the "Mi Gente" singer says he took the pressure off and recorded something he was proud of. "This album is inspired by when I was a kid doing music just for the love of the music, forgetting about the business.

This is something that reminded me of my childhood when I wanted to be an artist. When I was the most hungry, it's when I was a kid," Balvin, 39, says. "Now, I still feel the same hunger that I had before, but I don't have to prove myself and I just enjoy the process of the music.

That's why it's so important to me, this album, because I just had fun doing it," he continues. Frito-Lay Related: This time around, Balvin set no hard deadlines for himself and created when it felt natural to him. "The beautiful thing was I didn't plan to make an album.

It was just day by day, doing music for fun, and we ended up being like, 'Wow, we have so many songs. It's time to give the people a package of good energy.'" Over the past months, Balvin has given fans a glimpse of the album with singles "Gaga" and "Polvo de tu V.