“Go out in the world and work like money doesn’t matter, sing as if no one is listening, love as if you have never been hurt, and dance as if no one is watching.” —Victor Hugo.
Our Financial Discontent.
For most of my life, I have had money problems. In fact, I have always lived with a deep sense of personal discontent concerning my use of money. This discontent (or unease) concerning my finances came from two areas:
First, I have always been discontent with the amount of money I was spending. Ever since graduating college in 1996, I have lived paycheck-to-paycheck… never able to get ahead. Despite ever-increasing paychecks, I was never able to build up any substantial savings. My credit card bill seemed to mimic my pay stub. The money came in. The money went out. And as I entered my 30’s, this inability to build savings could no longer be blamed on an entry-level income, it had to be blamed on me.
Second, I have always been discontent with where my money was being spent. I consider myself spiritual… one who cares about the invisible qualities of life more than the visible. Unfortunately, my bank account never aligned with my stated beliefs. Nearly every spiritual leader of every major religion preaches generosity, contentment, and care for the disadvantaged in society. Yet, my financial gifts to those in need were few and far between. I had a desire to help the poor, care for the orphan, and comfort the widow, but I could never get behind those intentions with my finances. It concerned me on a deep, spiritual level.
And in both regards, a solution was seemingly unavailable. That was, until Memorial Day 2008, when my neighbor introduced me to minimalism and intentionally living with less.
As a result of our short conversation, the solution to my financial discontent became surprisingly clear. It was simple and practical. It was “Buy Less.”
Our Solution: Buy Less.
Just to be clear, the resolution of buying less was not a new solution to me. I was not naive enough to have never thought of it before. But the solution had never sounded attractive to me. Buying less sounded like I was taking a step backwards in life… admitting defeat… unable to earn the income necessary to live the American dream. It sounded boring… unfashionable… and destined for ridicule.
But I was wrong.
Deciding to intentionally live with less is among the best decisions I have made in my life. As a result of paring down most of our possessions and determining to only buy things that are needed, we have found life greatly improved.
We have more time, energy, and money available to us than ever before… we have more opportunity to pursue the greatest passions in life… we spend less time cleaning, organizing, and repairing the “stuff” in our lives… we have been forced to intentionally redefine our values… and rather than chasing every new product or fashion line sold at the department store, we are finally able to invest into the things that make our lives worthwhile and significant.
In this simple solution of buying less, both avenues of financial discontent in our lives have been resolved. Every month, we have money left over for savings. And every month, we have more to give away.
For our financial discontent, the practical solution of buying less was perfect. Today, my only regret is that I hadn’t started sooner.
Other Financial Problems.
But what about other money problems? Would the mindful practice of intentionally buying less solve them too? In most cases, it would. Consider some of these all-too-common money problems and how their solution is found in simply buying less:
I am deep in debt. According to CNN, the average American household carries nearly $10,700 in credit-card debt. Buying less provides the opportunity to slowly begin repaying that debt. It takes time. But patience, persistence, and discipline will absolutely free you from that crippling burden. And if buying too much is the cause of the problem (in most cases), buying less is most certainly the solution.
I don’t make enough money. While there are some legitimate cases where income does not provide for basic needs, more often than not, this money problem springs from an internal desire to purchase luxuries that we believe will add joy to our life. Because our income does not match our desires, we believe that we aren’t making enough money. But joy from luxury is short-lived, fleeting, and can never satisfy. Your heart will always desire more and your income will never match your thirst. Instead, an intentional decision to purposefully live with less will provide the inner space to find contentment in your life and begin making the most of it today.
I feel trapped in my job. Too many people that I know feel trapped in their present employment. Their internal groaning is often heard in statements like, “I can’t wait to retire” or “I can’t believe I have to go to work today.” And while some feel trapped because of their need for health care, others feel trapped because of their need to keep up a completely avoidable lifestyle: their mortgage, their car payment, or their credit card bills. If you feel trapped, know that the invitation to “buy less” remains open. There is an escape. The decision to live with less will open the door to surviving on a tighter budget and soon open the door to finding work you love.
I fear retirement. As nearly every financial outlet worth reading reminds us, the most important key to building retirement savings is to start saving today and contribute consistently. Whether you are 20, 30, or 50, your retirement account will not grow substantially without your contributions. So get started today with this simple formula: Buy less. Save more.
My marriage is falling apart due to financial stress. It is true that one of the leading causes of divorce in our world today is financial stress. This stress stems from any number of factors: disagreements on spending, loss of employment, stress from existing debt, and/or financial secrets. Depending on your specific circumstance, intentionally buying less may not solve all of them (or any of them). But it certainly can’t hurt. And maybe… just maybe… the extra financial space that is created from even one partner deciding to buy less will provide the space necessary to address the underlying factors that are leading to the inability to resolve your differences.
To be true, your specific money problem may not have been addressed in the list above.
Unfortunately, there is just not opportunity to address every financial condition in this limited post. If you need to read practical advice from a different angle, consider any of these blogs dedicated to the subject of personal finance: Get Rich Slowly, The Simple Dollar, Wise Bread, or Seedtime.
But my goal was not to specifically address every possible avenue of financial discontent. Instead, my hope was to raise your personal awareness towards the same simple, practical solution that resolved the financial discontent in my life: buy less.
Whatever financial stress you may be feeling today, know that buying less is probably the most practical solution. And the road to relief may in fact be far more appealing than you think…
Brad says
Agree.
Stephanie says
Great post. Here’s an idea: turn the TV off. In modern US society, it’s hard to escape the over abundance of advertising messages generating psychological needs/wants and a never ending compulsion to Buy More. Being conscious of that relentless nagging flurry of messaging can help you to Buy Less. Although it is something I struggle with, I have deliberately changed my spending habits, but still feel the pull to spend nearly every day. The US spends more on advertising than nearly the rest of the world combined. Some people blame society, but it is the society (in the US) that has been conned into thinking they need more, new, better, stuff. Again, try your best to control the savvy but mindless advertising messaging you are exposed to and it will help your spending habits. Good luck on Super Bowl Sunday (where 96+% of the country will be watching). Why do you think companies pay $4.5MM for a :30 commercial?
Kathryn says
I got rid of cable TV almost 15 years ago and have never regretted it. All commercials are designed to make people discontent.
ralf says
When I got a new job we moved to a place where we both can walk to work. My partner walks 30min, I’d need 2h if there were no bus because of snow.
Hence we don’t have a car.
Which gives me some time to declutter the home.
Margaret Mitchell says
Love the post. It got me thinking however about thoughts I have had whilst starting to declutter. And I am just starting. In the kitchen whilst going through things using the keep, charity, throw, relocate principle on occasions I have actually been thinking I ought to buy. For example my pan set is ok but not brilliant. We have commented a few times we need a new set. My question is should I invest to save? Buying a good quality set would last longer. Frying pan s are the same I’ve bought a few over the years but I think it’s because I buy run of the mill ones rather than investing in a good quality one.
ralf says
We don’t buy sets anymore. We just replace items that need replacing. We have one stainless steel pot that survived lots of non-stick ones. And it is all steel so can be put into the oven at any temperature. On the other hand nothing works as good as a non-stick saucepan to boil rice.
Roberta says
Although neither of us lived extravagant lifestyles – my husband and I coming from prior marriages still managed to enter into $60K worth of non-mortgage debt 3+ years ago. Within one month from now our non-mortgage debt will be zero thanks to the commitment we made to get there together. Though some of that money was spent to set him up in his own business, we knew that to reap the profits from both our careers and build up enough savings for rainy days (emergency) and good days (travel, retirement) we needed to dial back spending, reduce credit balances and ramp up savings. As a result in those 3 short years we also built an emergency savings, refi’d so we can pay off our current home within 10 years, perpetuated and increased retirement savings that will help us retire by 55, and paid cash for 21 acres of land on a beautiful mountain where we’re building our 500 sq ft retirement dream home (again, without requiring a line of credit.) Mutual interests in every aspect of our relationship helped achieve these goals and enriched our lives together giving us time and space to do the things we love- such as enjoying hikes with our dog, camping and working on our property, and spending time with family. I am infinitely proud and grateful for my husband and his commitment to our goals of financial freedom and living richly and simply. And grateful to you Josh and all the Minimalist advocates out there that are teaching and living practical solutions to making lives richer through spending less and living more.
Money Matters says
be SMART
Catherine says
I believe we need to shift our thinking that our selfworth is not in our things but who we are. There will always be someone with a bigger car or house. You will never catch up. The only person we need to worry about is us. To be free of stress of financial worries is a life worth living. Like anything in life take baby steps toward your goals . Eventually it will become a way of life.
Ella says
Thanks, Josh. Since buying a place I’ve felt the pressure to replace old furniture and decorate. Your posts keep me on track to be thoughtful about my approach, hold off for a few quality items that I really love and can afford. I’ve donated tonnes of clothes, books and other items and feel much ‘lighter’ for it. It’s really great to know that should I choose, I can pack up my place fairly easily and put it all in storage – and head off on an adventure!
Mary says
I work in retail in several “dollar” stores and the big blue store. I see people load their shopping carts with so much junk that will break, go out of style, unhealthy to eat and most of it is totally unnecessary. I’m guilty to a certain degree but the more I look around and ask “Do I really NEED this item?” the less I buy. Seriously, how can anyone need $85 worth of stuff from the dollar store?
Gaylene says
My husband and I have been on the minimalizing train since the beginning of this year. We are slowly getting rid of all the “stuff” and not purchasing “stuff.” My house is so much easier to clean; washing clothes takes way less time; more time for my swimming pool; more time for my back deck and my fire pit to relax around; more time to do exactly what I feel like doing! Little by little; step by step – we will get there!