TtB-1. Money and Mindset

Living on Less and Liking It

The conserver lifestyle can be fun. It can be exciting. It is definitely creative. I know that's hard to believe when you're chronically short on cash or facing a financial crisis. Your immediate reaction is more likely to be fear, even panic. The best time to learn and practice the principles of Tightening the Belt is before you hit a hard place. But even if you're in the midst of one, conserver practices will help you navigate the tough times.

Money and Mindset

Quality of life has much more to do with who you are and how you use what you have, than it does with getting more.

If you believe the ONLY way you can have a satisfying life is by earning more money, sooner or later you'll find you are chasing a will-o-the-wisp. [ definition: an impossible, elusive or misleading goal, often leading to wasted effort. ]

Increasing income does not guarantee an increase in quality of life. Quite possibly the opposite. Income may go up, but quality of life can go down. It's frustrating that you don't get to spend as much time with your partner as you would like. Someone else is raising your kids. You have no family or friend time. There's no space to pursue your true interests. But, if you break away from the focus on getting more money, that can change.

Learning to tighten your belt creates choice in your life. It gives you options so you can have the freedom you long for. If your happiness depends on getting a raise, you're stuck. The power over your life is in someone else's hands. Not good. Instead, become skillful at living on less. It's unexpectedly empowering.

Controlling expenses is more beneficial than increasing earnings.

How could this be true? There are two ways to be wealthy: have lots of money or have few needs. The downside of increasing earnings is that the more folks bring in, the more expensive their lifestyles tend to become. The more stuff they have to manage. The more time they have to spend on the stuff. Pricier clothes, more shoes, multiple designer handbags, luxury vehicles, high end travel, leisure toys. They have to pay to clean them, protect them, service them, insure them, and make a place to store them. Surprisingly, all the things they needed money for demand more money. A person might not even notice the spiral, but they feel the weight of all that stuff.

True story. An acquaintance had a wealthy lifestyle and all the trappings. Once I asked about her pilot's license. Yes, she was flying regularly. Yes, she'd bought a plane. But it was only a two-seater. She realized she needed to upgrade because "everybody has a four-seater."

A bigger income will not necessarily give you financial freedom if you don't know how to control and reduce costs. Being frugal is not about being stingy. It's about being smart with your money so you can afford the things that are really important to you. Frugality is empowerment!

Time to Think It Over

Changing the way you spend your money involves making changes to your life. Changing is always more challenging than staying the same. It takes more effort. So the first thing to do is examine why you want to make some changes.

At this point in the workshop I give every participant an oversized sheet of paper and suggest that they move to a spot in the room with a little bit of elbow space. Why don't you do the same? Take time to really think about your answers. Scribble. Doodle. Brainstorm. Make a Mind Map.

Revisit your musings over the next week. Develop some answers that will inspire and motivate you in your Conserver journey.