Everything you spend money on is a choice. When every dollar has a purpose, purchases become much more meaningful.
On a larger scale, people are not only misspending
their money, but their time as well, says Duane Elgin, author of "Voluntary
Simplicity: Toward a Way of Life That Is Outwardly Simple, Inwardly Rich."
"People are trading off time and opportunity: let's say, traditional advancement for more time with the family, more time with the community, more creative time and so on," he says.
With respect to finances, simple living often means
consuming less: breaking the habit of shopping simply for the sake of an
afternoon activity; buying a smaller house; living closer to work and even
eating less processed foods and meat and more vegetables, legumes and whole
Yeager says he tries to only buy foods that cost less
than $1 per pound -- and he's not a vegetarian.
"When people hear that, particularly as grocery prices have gone up, they think it's crazy. But it's not if you really look at what kind of foods we should be eating the most of -- fresh fruits and vegetables and whole grains and legumes. When you shop -- if you shop smart -- you can find all kinds of things in those categories that cost under $1 a pound," he says.
By spending less money, you have more money to save and in due course can work less.
"What we are selling is our time, some limited number
of hours we have on earth, and we're choosing to consciously spend those
hours in exchange for money so we can get some stuff," Yeager says.