Thank you for joining me as we share ideas about living well and spending less.
So many of us find ourselves stressing about financial insecurity and wondering how we can simply get by in a world where the answer to every financial problem is “more.” The home renovations will cost more money. I can improve my family life if I have more money. My job would be tolerable if I made more money. I will be respected if I can show that I have more money.
I offer that for many of us this anxiety is unnecessary. For most of us, learning to live well on less money will alleviate the insecurity that makes us obsessed with “more.” We may even find that the alleviation of our anxieties is the “more” that we have been looking for.
Fighting the drive to spend
We naturally (or perhaps pathologically) adjust our lifestyles to our incomes. If we are living paycheck to paycheck, we are anxious and perhaps even unhappy. If we get a better paycheck, we take on more liabilities and expenses until we are again living paycheck to paycheck. Our anxiety and perhaps even our unhappiness has followed. In the most extreme example, studies show that just one year after winning the lottery, the winners reflect no permanent change in their level of happiness.
The person who learns live well while spending less money might be just as happy or unhappy as they would have been spending more, but at least they won’t have financial anxiety contributing to their woes.
I recently re-read Rich Dad, Poor Dad, and although the book has an obvious bias against the working class, it provides a thoughtful exploration of our natural tendency to spend every penny of income.
Related post: The Tao of Cheap: What Taoism Teaches about Money
Three types of people who want to live well and spend less:
- People truly in need: Even in a society of plenty, some people are truly desperate financially, often due to circumstances beyond their control. I sincerely hope that one or two of the ideas in this blog will help. If one idea helps even one person to the slightest degree, I will be greatly gratified.
- People who spend: We are all guilty of convincing ourselves that wants are actually needs. We tell ourselves that we must project success, or that we must “treat ourselves” to keep going, or that we must have what everyone else has to be validated. We must keep our spending thoughts in check.
- Cheapists: People who are financially stable and want to keep it that way. Cheapists are living well on less money and are always looking for ways to continue doing so. Cheapists have enough, enjoy life, and know that “more” is not really the answer.
Together we will explore both the mundane and the philosophical elements of being frugal. Some posts will apply to your life but many will not. Some ideas will be dead wrong for you. Nevertheless, considering the posts will create a mindfulness that you might apply in creative or unexpected ways. It is my sincere hope that I will be the true learner as you share your cheapist ideas with me.
Sincerely, The Cheapist