The Secret to Wealth | Why Looking Poor Can Make You Rich

[Anderson]

Let’s explore why embracing a minimalist lifestyle and cutting unnecessary expenses can profoundly improve your quality of life. By making intentional choices about what you buy and keep, you can create a more fulfilling, stress-free, and purposeful life tailored to your unique needs and values. There are four main reasons for this starting with:

Reason 1: Escaping the Cycle of Perpetual Dissatisfaction

Many of us have experienced the fleeting joy that comes from a promotion, moving to a better neighborhood, or buying a new car. This happiness is short-lived, and soon, new desires emerge. Psychologists call this phenomenon the "hedonic treadmill" or "hedonic adaptation" – our tendency to return to a baseline level of happiness despite major positive or negative events in our lives. 

For example, studies show that while real income in the U.S. has more than doubled since the 1950s, the percentage of Americans who consider themselves happy hasn't increased. Similarly, happiness levels in Western Europe and Japan have remained stagnant despite substantial economic growth. This is because once our basic needs – security, food, water, and comfort – are met, additional consumption contributes less to our overall happiness.

Reason 2: Greater Freedom and Flexibility

Even high earners often live paycheck to paycheck due to their high expenses. They purchase expensive homes with hefty mortgages, drive costly cars, and maintain lifestyles that demand constant financial input. This financial burden limits their freedom to switch to a more fulfilling but less lucrative job or to relocate without incurring significant costs.

Minimalism can offer greater flexibility. By keeping expenses low and savings high, you can afford to take risks, like starting a new venture or changing careers. For instance, I was able to launch my YouTube channel and spend six months building it without worrying about immediate financial returns, thanks to my minimalist lifestyle.

Reason 3: Living for Yourself, Not Others

Many people buy expensive items to impress others or due to societal pressure. This desire to display wealth as a sign of success is often misguided. Most people are too absorbed in their own lives to notice or care about what others own.

Wealth should be about the security and confidence it provides, not about outward appearances. For example, wealthy individuals like Mark Zuckerberg often choose simplicity over showiness. They prioritize the comfort and freedom that money brings rather than using it to flaunt their status.

Reason 4: Increased Happiness and Well-being

Research consistently shows that people who voluntarily choose a simpler lifestyle report higher levels of happiness and psychological well-being. A comprehensive study in 2021 analyzed 23 different studies on minimalism and quality of life, finding a positive correlation between a minimalist lifestyle and happiness in 80-85% of cases.

Interestingly, this trend is particularly noticeable among those with limited financial resources. While minimalism may not significantly impact the happiness of billionaires, for most people, reducing consumption and focusing on essential needs leads to greater satisfaction.

Conclusion

The idea that wealth is synonymous with extravagant living is largely a myth perpetuated by media and fashion industries. True wealth lies in financial security and the freedom it affords. Investing in experiences and assets that generate long-term value is far more fulfilling than spending on luxury items for show. 

Ultimately, the path to well-being involves earning a good income while maintaining a sensible approach to spending. Minimizing unnecessary consumption not only enhances your financial stability but also contributes to a more satisfying and flexible life.

[Olga]

Chasing Shadows: Breaking Free from the Illusion of Consumer Happiness

This isn’t just about consumption or anti-consumption, and it’s not merely a question of ecology. It’s about how you make decisions in your life. Do you buy something because it promises happiness? Consumer culture constantly lures us, promising joy and fulfillment, convincing us that buying things will make us feel better, more beautiful, or more advanced. From cosmetics that promise beauty to gadgets that promise efficiency, the message is clear: buy this, and you’ll be happy. 

We live in a world that dissects us and urges us to keep buying, often pushing us to work not for the sake of meaningful work, but just to earn money to spend on things we might not even need—things we’ve been told are essential. Phones get replaced constantly, seemingly designed to become obsolete quickly so there’s always a reason to buy the next model. It’s a never-ending race where we chase after the promise of happiness through things, but to what end?

We work more, consume more, and the economy grows. But where are we running? What are we chasing, and is it even our own desire? Or are we just going along with what’s expected because it’s trendy, stylish, or because someone told us that’s what success looks like?

Back in the day, people chased fashion trends, desperately trying to keep up with what was considered “in.” Today, fashion is more fluid—wear what you like and enjoy life. The real question we need to ask ourselves is: what drives us? As a psychotherapist, I’ve seen countless cases of compulsive shopping. In the past, people would roam malls, unable to stop until they spent all their money. Now, it’s all online. You open your computer, and the endless stream of discounts and deals keeps you hooked.

People can spend days adding things to their carts, comparing prices, imagining how their lives will improve with that new pair of shoes or the latest gadget. But this is just a waste of life. Hours spent comparing and fantasizing do nothing but drain you. It’s not even about needing things—it’s about imagining your life with them and living that imaginary life in your head.

We’ve become like Gollum from The Lord of the Rings, clutching at “my precious,” lost in our own little worlds of imagined joy. The dopamine hits from these purchases are fleeting. You get the item, the thrill wears off, and you’re left wanting more. So, you work more to buy more, chasing an endless loop of empty gratification.

In the past, people were driven by different compulsions—fear of scarcity, lack of attention or love, or the need to show off their status. Today, we’ve translated these needs into a digital shopping frenzy where the gratification is instant but hollow. People are more excited by the act of shopping than by the actual use of the products they buy.

Looking ahead, many believe that in the future, we’ll spend most of our money on virtual goods—outfits and accessories for our digital avatars in the metaverse. We’re already seeing this trend, with people spending real money on digital items that have no physical existence. And the companies controlling these virtual spaces will know exactly how much money you have and keep you spending until there’s nothing left.

This kind of world is terrifying—a world where our lives are spent inside a screen, paying for pixels, always being watched and manipulated. The real task is to reclaim our happiness from this cycle. Find joy in living, not in things, not in status, and not in what others expect of you.

True happiness comes when you’re at peace with yourself, without needing to prove your worth with external symbols. When you’re content with who you are, you don’t need to leap out of your skin to buy things to feel valuable. That’s the simplicity we should strive for—not because it’s trendy, but because it frees us.

A new outfit or a new gadget won’t make us whole. We have closets full of clothes we might never wear, things we bought for a “special occasion” that never comes. But real happiness isn’t in these external things. It’s right now, in the present. When you’re browsing online stores, you’re seeking an illusion of happiness that never truly satisfies. It depletes you instead of enriching you.

Instead, we should engage in activities that genuinely fulfill us—reading a challenging book, learning something new, having meaningful conversations. These things enrich us, stay with us, and allow us to grow. They give us real dopamine, the kind that doesn’t fade the moment the newness wears off.

In today’s consumer-driven world, the biggest threat is the constant lure to spend our lives chasing superficial pleasure. To cultivate true fulfillment, we need to turn inward and find joy in the things that truly matter. Don't let your sense of happiness be dictated by what you can buy. Seek the deeper satisfaction that comes from personal growth, connection, and living with purpose. 

Thoughts:

This text speaks to the heart of a major issue in modern life: the endless chase for fulfillment through material goods. It’s not just about what we buy, but why we feel compelled to buy in the first place. Consumer culture is designed to exploit our insecurities, convincing us that happiness is just one purchase away. But this pursuit is never-ending, because happiness can’t be bought.

I believe it’s crucial to step back and reassess our values. Real joy comes from experiences, relationships, learning, and self-reflection—not from things. It’s about finding contentment in who we are rather than what we own. As we navigate a world that constantly pushes us to consume more, it’s important to stay grounded and focused on what truly enriches our lives. Let’s aim to live with intention, appreciating the moment and valuing our own sense of self-worth over the hollow promises of consumerism.