Editor’s note: This is Part 2 of a two-part series on spending less and saving more. Part 1 was released last Monday. You can read it here.
Often, the most helpful advice is the simplest: Eat healthy, exercise more, don’t smoke, spend less than you make.
The problem with simple advice, of course, isn’t always that we don’t know it. The problem is living it out.
And there may be no place where we see this more easily than in the advice: The easiest way to save money is to not spend it.
There are two reasons the advice to spend less is so difficult to apply:
1. We believe we can’t spend less.
2. We believe spending less will make life worse.
Last week, I wrote about overcoming the assumption that we CAN’T spend less. If you believe you are unable to save because all your money is needed for bills, I encourage you to start by reading part one where I discussed that objection in detail. It may be the best news you encounter all day.
Today, I want to dive deeper into the second reason so many people struggle to spend less: I DON’T want to spend less money.
We seem to have a natural inclination, encouraged by the society around us, to believe that spending money is always good. That the more I spend and the more I buy, the better my life will be.
In that type of environment, seeing the benefit of spending less is difficult. “Not spending” sounds like a step backward in life. And nobody wants to move backward, so we don’t want to cut back on spending.
But what if we could change our thinking and see things differently? What if spending less became the pathway to a better life? If so, we could overcome this objection.
To that end, I’d like to offer a list of reasons why spending less is actually better than spending more:
1. Owning less is a better way to live.
You see, I used to be like everyone else. I used to think buying stuff would make me happy. And that intentionally buying less sounded like a step backward in life. Until I actually tried it.
Eighteen years ago, I made the decision to live a more minimalist and intentional life. That I would own less and buy less—seeking to own only what I needed to live my most purposeful life.
And that has turned out to be among the best decisions I have ever made in my life.
Once I started owning less, I had more time, energy, focus, and money available to me than ever before. Minimalism freed up my life to focus on the pursuits that bring actual joy, meaning, purpose, and fulfillment.
When we own fewer things, we waste less time cleaning, organizing, and managing physical possessions. So not only do we have less to care for, we have more financial resources available to us.
Less time required to care for our stuff and more financial resources to pursue our passions? Now that is a powerful, life-giving combination!
2. There is peace to be found in living below our means.
I like knowing I spend less than I make. There is a joy and satisfaction that comes from it.
I could drive a more expensive car or buy a bigger house. I could fill my closets with expensive brands and styles. I could go on lavish vacations. Credit cards and loans make all of that possible for me.
But I derive a significant amount of pleasure knowing my expenses do not exceed my income. This type of discipline brings a peace that overspending can never recreate.
Staying out of debt 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. I can save if I want, invest if I want, give if I want, or spend if I want.
It allows me to sleep better, carry less stress, and live a more calm, relaxed life. It also makes a statement to myself that I can live a disciplined life.
From the outside, a life built on credit may appear to be the life we desire. That is certainly what the world will tell us. But the life that feels good on the inside is one built on living below our means.
There are other reasons and benefits to spending less: It relieves financial stress. It removes a common argument from our marriages. It sets a good example for our kids. It teaches us to appreciate the simple things in life. It makes generosity possible. It frees us from comparing our lives to everyone else’s. It changes how we see the world. In the long run, it can even change how we view work and provide opportunity to choose our work for reasons other than the paycheck.
Of course, spending less may not be the solution to every financial problem in the world. But it is the solution to most—and more than we think.
The best way to save money is to not spend it.
This can be true of you. It will require you to believe that it is possible and better than overspending. But you can get there. And you’ll love the change it brings in your life.
Source: www.becomingminimalist.com…