Personal Finance Management Guide: The Uncommon Philosophy of Simple Living or Voluntary Simplicity
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The Uncommon Philosophy of Simple Living or Voluntary Simplicity

"The more money you spend, the more time you have to be out there earning it and the less time you have to spend with the ones you love". - Tracey Smith

Simple living (simple life, frugal living or voluntary simplicity) is a lifestyle in which individuals consciously choose to minimize the 'more-is-better' pursuit of wealth and consumption. Simple living as a concept is distinguished from those living in forced poverty, as it is a voluntary lifestyle choice. The term "downshifting" is often used to describe the act of moving from a lifestyle of greater consumption towards a lifestyle based on voluntary simplicity.

If there is understanding of the difference between the body and the soul, then, just as we don’t neglect to supply the physical with food, similarly, we don’t live in the illusion that our inner craving or emptiness can be satisfied by endless material consumption.

In order not to consume unnecessarily, we need to make a distinction between the body and the self. You are not the material body. You are the living being within the body. The body has its needs, and you have your inner spiritual needs.

The spiritual craving of the soul, when aimed towards the material world, is known as lust. Lust makes a person greedy for more than he really needs. People say, “Greed is bad.” But nobody knows the real cause of greed. If we aim our inner craving toward the eternal spiritual realm, then we will not become greedy for unnecessary things. Satisfied by service to loved ones, we learn how to live simply. We will no longer continue to live beyond our means or amass things which we don’t need and which don’t even make us happy.

Some people who practice voluntary simplicity act consciously to reduce their need for purchased services or goods and, by extension, their need to sell their time for money. Some will spend the extra free time this generates helping their family or others in a voluntary way. During the holiday season, such people often perform alternative giving. Others may spend the extra free time to improve their own quality of life, for example pursuing creative activities such as art and craft.

Another approach to voluntary simplicity (frugal living) look very fundamentally at the whole issue of why we need to buy and consume too many resources for a good quality of life.

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