How Owning Less Makes You Wealthier

March 16th, 2010

A lot of people I know say they want to get rich.  Even more, some people pay thousands of dollars to learn how to get rich.  Even though I think getting rich is not that worthwhile of a goal, I thought I’d save all of my readers the thousands of dollars you might otherwise spend learning how to get rich at a seminar.

I’ll teach you a way that, whereas it might not make you a multimilioaire, it will put more money in your bank account. The question is: will you do it?

Let’s Start with….The Couple Who Spends Together…

A couple I knew were expecting their second child.

The only problem with another child, however, was the financial burden another child brings.  And they were worried about it.

You see, my friends had a problem. They had over $30,000 in credit card debt, 2 car payments, a mortgage payment, and that was the tip of the iceberg. So, when I went to their house the next week, imagine my surprise when…

…their house as outfitted with brand new furniture they had bought over the weekend. And in their driveway…

…a brand-new car.

But we need it

Here they were struggling to support a new child, but still bought a new car and furniture.  And for what?

With people like that couple there is a pattern at work:

  • Work hard to make money
  • Money’s not enough to get everything now.
  • Go into debt to buy more things
  • Work harder to make more money
  • To buy more things
  • To go back into debt

Yep, your money is there to buy “stuff.” And with debt,  you find that that “stuff” you think you own…

…THEY own YOU!

Get Rid of Your Stuff

Most people associate wealth with possessions. You know how I know that? I watch infomericals.  Whenever the guy on TV is tryingt to sell you some lame-brain get-rich-quick “course” he emphasizes things. The yacht.  Big house. Rolex.

They look at fancy houses, clothes, cars, and other sorts of “status symbols.” And most people fall for it.  But what happens when you don’t buy those things? What happens when you don’t have all those expenses?

That’s when you can accumulate wealth!  And by “wealth” I mean not only money but also time.  Those possessions demand a lot of your time…think about it.

How many times have you wanted to go somewhere or do something but didn’t have that money? Or the truth is you DO make enough money, but all it goes to paying for things you bought years ago. Or maybe you are still paying too much for that car that stretched your budget or the house that was a little bit more than you could afford?

By keeping it simple, and buying fewer things, you will find yourself living more contented and even treasuring the things you do have, instead of renting storage space to keep it out of the way.

A Truly Simple Life:

A news story I read about a couple of years ago was about a woman who lived in an 84 sq. ft. home.  Most people I know thought it was funny. But I didn’t think it was funny.  I thought it was brilliant.   When a reporter asked the woman why she wanted to live in such a small house, she answered,

“A simpler life, time, more money. I don’t have a mortgage. I don’t have a big utility bill, I’m able to offer money to my family if they need it, (and to) my friends if they need it.”

I suggest reading the whole article and watching the video. I am not saying for everyone to go get small homes like this, but I think it is instructive on what’s possible.

Let me leave you with this thought:

With no mortgage, a $6 summer utility bill, and more time–what could you accomplish?

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