July 24, 2013

One of the simplest ways to reduce your spending is to detach your self-image from “stuff.” What does this mean and how does it work?

14 thoughts on “July 24, 2013”

  1. Katherine Graham says:

    Some people think that if they buy the right “stuff”, it will make them popular, pretty, happy. In reality, the more “stuff” you buy, the poorer you are (especially if you’re buying your “stuff” on credit). One way you can reduce your spending is build your self-esteem. Generally, people with low self-esteem believe the advertisements that say that their product/service will make them popular/pretty/happy. Materialism can make you miserable, as you keep chasing something that does not exist.

  2. Mike Finley says:

    Well said, Katherine. Reducing the effect of materialism in your life can cause HUGE changes to your financial life. Once you see the illusion for what it is (advertisers “sell” you on the idea that “stuff” will make you popular, sexy, successful, happy, etc.) you are able to distance yourself and your money from it. It’s not true and it actually can have the opposite effect over time.

    The long term effect will be less spending and more saving and investing in appreciating assets (stocks, bonds, and real estate). This in turn will provide you the financial freedom that we all crave. Less is more is a mantra that can truly change the way you see life and live life. Bottom line: To be truly free, you must “own” nothing but YOU.

    Repeat after me, I AM THE ANSWER. Believe it.

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