What comes to mind when you think of living modestly? Do you think it can be a joyful experience? Do you think you can be happy living a more modest life than you might be living right now? Or do you think you won’t have enough and you’ll be lacking in some way?
Living modestly probably means something different to each and every one of us. A non-millionaire’s definition of living modestly is different from a millionaire’s. To me, living modestly means not overindulging, living within my means, focusing on what truly matters to me, and staying detached from what society and advertisements attempt to convince me that I need to be happy, when I know that I don’t.
What if living modestly now means we can loosen the reins a bit later and live less modestly, if we choose to? I mean, do you really need all those cable channels? How much meaning and joy is watching hours and hours of television bringing to your life? Are there other things you’d really rather be doing but are just in a boring habit? Reading, walking off those few extra pounds we’ve been thinking about lately, tea with a good friend, or learning about a new hobby. These are the things that really bring us joy, not 20 brand name handbags or big houses (yes, I live in one–only because I moved in with my fiance who happens to own it). And I still own my small condo. that I felt the same kind of happiness as I do now.
It’s important to figure out the reasons you might want to live modestly. For me, it was so that I could save and invest more to give me an opportunity to retire and move into my next exciting chapter of life of traveling, writing more, and spending lots of time with my grandchildren (who haven’t arrived quite yet!). It just so happened that along the way of choosing to live modestly, I actually found joy in the saving and investing part of that choice.
What could be your reasons for wanting to live modestly? Write down three of them. Maybe it’s to increase your wealth for your future desires, to experience new adventures, or perhaps as simple as wanting to own a small home because it lends itself to a more simple life, one of less cleaning and upkeep and even a more reasonable property tax bill.
So, the point of living modestly is to bring us closer to a life that offers true meaning and fulfillment and the future you’ve been envisioning for yourself. I think the choice to live modestly is really about finding the joy within ourselves and all that life really has to offer, something extraordinary and way beyond stuff and accumulations.
Cheers to your financial wellness!
