“Do not save what is left after spending, but spend what is left after saving.” —Warren Buffett
Recently, I pulled into my local gas station. It was evening and there wasn’t much traffic inside or outside the store. In fact, I was the only one filling up.
That was, until another car came speeding around the corner and pulled up to the pump next to me. The engine of the sports car broke the quietness of the evening and was drowned out only by the squeal of his tires and eventually, the volume of the music pouring out his windows.
The driver quickly hopped out of his vehicle wearing a leather jacket and proceeded to fill his tank with premium gasoline.
It was quite a spectacular sight actually. A dark, still evening with no noise around us to speak of. Me, standing next to my white, 2005 Honda Accord. And him, right next to me, taking time to admire his brand new sports car.
We didn’t exchange any words. I don’t even recall him looking in my direction to acknowledge my existence. He was, I think, far too preoccupied with his vehicle.
I know nothing of this fellow or how he came to acquire his fancy new car. And I am passing no judgment on him. This is a story about me—not him.
Because in that moment, a surprising thought entered my head. I remember thinking (for better or worse), “You know, I could drive a car like that if I wanted. I could purchase a fancy new sports car, a leather jacket, even racing gloves if I wanted. But I choose not to.”
And it’s true. There are, I suppose, a few cars on the planet that I could not receive enough credit to acquire. But for the most part, there is nothing stopping me from driving an expensive, flashy sports car around town.
Except for maybe one thing.
The only thing stopping me from driving the same car I encountered at the gas station is I enjoy living within my means.
I like knowing I spend less than I make.
I mean, I could drive a more expensive car. I could buy a bigger house. I could take more lavish vacations or purchase more luxurious furniture. But I find a significant amount of pleasure knowing my expenses do not exceed my income.
Staying out of debt means I am not being hunted down by creditors. It means I am not carrying a financial burden from my past while also trying to provide for the present. It means I have freedom to make choices with my excess income. It means I can save if I want, give if I want, or spend if I want. Because I live within my means, I enjoy a significant level of freedom that others do not.
It allows me to sleep better, carry less stress, and live a more calm, relaxed life.
Our world works hard to convince us to outspend our means and then provides a thousand ways for us to do it—even delivering pre-approved cards of plastic directly to our front doors. And from the outside, a life built on credit may appear the life we desire—with its bright lights, bold colors, and the flashy impressions we are able to make.
But I’ll choose something different for my life. I’ll choose calm and peace and the knowledge that I have chosen responsibly. For there is a wonderful joy to be found in it.
I know there are any number of uncontrollable circumstances that may make this choice impossible for some—tragedy, medical emergencies, or unexpected career downsizing as examples. But for those who still have the choice, I don’t think you’ll ever regret spending less than you make.
Besides, I kinda like my Honda Accord.
Colin says
I know we’re expected to agree with all of this but I think:
1. You are being judgemental
2. You seem to feel it is important that you “COULD” do those things – a mite insecure I think.
Just my thoughts.
Leah says
This is a little bit of what I was saying in my above comment. I’m not sure if I would use the word judgmental as much as privileged.
I’m not sure if all of this shared happiness about getting rid of all one’s stuff is much different than those who are happy to have the stuff.
Dawn Torres-Gale says
I agree with you. I worry that the minimalism movement wants people to eschew stuff just for the sake of eschewing it even if some of their stuff makes them happy. I think that there is a middle ground between having too much stuff and having to get rid of what you love. I also think that a person should not be judged for choosing material status symbols if they can afford it without going into debt and it makes them happy. Not all people who like certain types of material goods are necessarily terrible superficial people. I say this coming from the perspective of not always being able to afford nice things but I don’t feel like I am a bad person for wanting them.
Naomi says
…and sometimes, the kinder thing for the planet is not to ‘get rid’ of all your potentially useful stuff, but to use it up completely (be creative) which may mean some clutter but also means kindness and respect for the environment. I consider myself to be quite minimal – in that I am not much of a consumer – but my house is certainly not all clean lines and calm spaces! Reduce, re-use, recycle. Make do and mend.
Colin says
Nailed it!
Regal Beagle. ? says
I agree. I have a family member in his 60’s now and very well off due to a inheritance wife has great job etc etc. He drives me crazy when we talk cause he thinks since he chooses to be a minimalist that those that have a few material things they enjoy they are sort of too materialistic. I personally get tired of hearing that from him, not sure I should ask him to quit saying his beliefs over and over or just keep dealing with it.
But yes, I agree those who are quite wealthy seem to be sort of smug but in a different way than most of society. It seems to become sort of a mind game of seeing how much money ? I can accumulate. Thanks for hearing my rant
Nicky V says
The joy of having de-owned nearly 2/3rds of my belongings over the past six months, thanks to “the More of Less” book and Course plus your Blog, I am now in the position to travel away from home in my 1996 camper. I can let a friend live in my home for half the monthly running costs, giving him the opportunity to pursue his voluntary work full time, which I physically cannot do, although I would love to. This is a win-win situation, enabling both to do the voluntary work we are passionate about, but both now living well within our means. Both “giving”, which is a great feeling.
Simplifying everything is a continual process.
BTW I asked him to invite his mother to enjoy a long weekend or week’s holiday at my home, as I believe she has not had a holiday for a very long time, plus she can bring her dog, as he knows I have two myself and am only too happy to allow her dog. So, three winners – all from simplifying. Oh! One more! Through helping an ex-addict, by asking him to help me in the garden and getting things down from the attic, (during the de-cluttering) I got to know his parents and invited them to have tea – we are English after all! They had a look round my home at all my empty shelves, cupboards uncluttered cabinets etc., then went home and have been going mad clearing things themselves. They gave me the credit. But actually Joshua, You deserve the credit and I am so very grateful to you. PS I had to choose whether to repair my 2003 car recently or to scrap it. I had it repaired and it came back like new. I may get teased about its age, but it’s all paid for and runs sweet; Choice. That’s what we all have. Choice.
David Y says
Living within your means. An idea so crazy, it just might work. ;)
PS. I used to drive an Accord. When it finally conked out after many years of trouble free driving, bought a base Prius. Not sexy, but it gets me where I want to go.
Leah says
This is a great read and offers some great advice. I think what it misses the mark on is it assumes one has the choice between the Honda and the sports car. That simple choice alone would be a luxury for me (and, I’m sure, others). When I started to embrace minimalism, I heard this a lot: It takes a lot of money to be a minimalist. Posts like this one perpetuate this idea even when I know it is not at all what Joshua meant to do. Reading this advice, and seeing everyone’s glowing response to it, makes me think that maybe it is true. Maybe minimalism only works for those that can afford it. But I hope that’s not true. I don’t want it to be true.
Peggy says
Hi Leah,
When our kids were small (they are nearing 30 now), their dad was a Mr. Mom, so we were living on one income for about 7 years. He was rolling quarters to buy milk for the kids. We bought very few gifts, went out to very few meals / ice cream treats, etc. There truly was no way to save. But at least we didn’t (have to) spend more than we had.
Now we are in a better financial position, have a little savings and no longer living paycheck to paycheck. I don’t think all minimalism has to be expensive. It depends on your approach. Some like to buy very little but want top quality, for which they spend more. Others buy from thrift stores and some of them are willing to really hunt for good quality in those stores (I will shop there but I’m not willing to “hunt”).
In my experience, once we had our debts paid (house & cars), we don’t have any more expenses than we would have if I hadn’t started heading toward minimalism. I can’t call myself a minimalist yet because current (temporary) circumstances are preventing it. But my husband and I try not to buy things we don’t need. If anyone is careful about acquiring things, it will probably be less expensive to be a minimalist. We have started eating out a little and doing a little traveling in the last couple of years, but we could curtail that if we had financial difficulty.
I do realize that some people are in the same (or worse) position that my husband & I were when our kids were little or they have medical issues that impact their budget. I believe that minimalism can only help. Good luck on your journey to less :)
Pamela Wolfe says
You are assuming this guy can’t afford his fancy car. I have a sports car and I love it. I have to do a lot of driving for my job and I enjoy having a sporty ride with 6-speed manual transmission. I deliberately chose one that wasn’t too expensive, but it does take premium gas – however since it’s a Honda sports car, it gets good mileage- and I’ll keep it for many years to come. (P. S. Before this car, I had a 2001 Honda Accord which I loved but I wanted something smaller.)
Rachel says
He was not assuming that. He was making a point about himself-feeling a little jealous but remembering he COULD buy that car if he really wanted to but chooses not to.
“I know nothing of this fellow or how he came to acquire his fancy new car. And I am passing no judgment on him. This is a story about me—not him.”
Margaret says
I must agree with Toni W. …..there is the laws of physics. There is a reaction to every action. Think before you spend.. also, before you speak. The tongue can get you indebted as well as the credit card.
Connie says
This posts comments have proven true for me for the last 12 years. Just the other day I was asking a good friend, what would you do if you had more money at your disposal. A bigger house..no. a fancier car..no. what we came up with that the only thing that either of us would do is give the money to causes that we support already.
We both have been blessed with no medical debt that makes such discussions possible.
katybee says
AMEN! I tell my 10yr old boy the same thing. I could afford a fancier car but we get around just fine in our 2004 Honda CR-V with 230K miles on it. Trying to get him started early before he catches the “keeping up with the Joneses” mentality so many people seem to suffer from.
Vince says
Great post—weird pic! lol—the guy looks a bit…propped and stiff!!! @@
Jonisue Minor says
Thank you for your words of wisdom. It is too easy to throw our future away for a moment of pleasure. I felt like you were writing just to me and it was something I needed to hear, especially at this point in my life. Thank you.