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Is Tesla Still a Worthy Investment?   "Is Tesla still a worthy investment?," asked a friend of mine who read my article which I wrote back in June of last year. A lot has happened since then. Tesla stock has doubled in price and Elon's presence in the media is omnipresent. This guy is... Read more

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The Only Key to Your Financial Freedom

What consumerism really is, at its worst is getting people to buy things that don’t actually improve their lives. — Jeff Bezos

Have you ever entertained thoughts to find a single key to your financial freedom? We all have. Surprisingly, there is one key to our freedom and it’s rather simple:  Jettison lifestyle of fake happiness by embracing minimalist life style.

The secret it out. It’s hard to let go — possessions and emotions that have kept your financial freedom hostage — but minimalism brings clarity and focus by not allowing parade of TV ads or other forms of consumerism that have enslaved your happiness.

Jesse Jackson Jr. is the epitome of what carnage consumerism brings to your health, financial well-being and happiness.This young congressman and his wife used $750,000 in campaign money to finance their addiction to consumerism.

From 2007 to 2011, Mr. Jackson bought $10,977.74 worth of televisions, DVD players and DVDs at Best Buy, according to the documents. In 2008, Mr. Jackson used the money for things like a $466.30 dinner at CityZen in the Mandarin Oriental in Washington and a $5,587.75 vacation at the Martha’s Vineyard Holistic Retreat — Court papers released by federal prosecutors

It’s not how much you make

This story reveals an age-old truth: It’s not how much you make that matters or plays a crucial role in your lasting health, happiness and even your financial well-being. It’s how much you abhor spending money you have now and — abhor even more — spending money that you don’t have.

I am sure that Mr. Jackson had enough before he splurged thousands on TV sets and DVD players. And I believe with conviction that those lifeless things don’t have an iota of sympathy for the tough time Mr. Jackson is dealing with now.

This is an epitome of how not to screw your life while trying to save shareholders of Best Buy.

As soon as you start squashing the bug of consumerism, you will feel like doubling salary without any pay increases. In fact, you won’t ask for pay increase because you will start loving your life and doing things that have no nexus to this ugly addiction and its grip on your work to live conundrum.

This news is sad but it also teaches us all that sooner we learn to embrace  thoughts and friends with Midas touch of a minimalist, sooner we can begin our journey for a purpose driven and happy life.

Let go

What if you let go your iPhone just for a day? What if you let go your laptop just for a day? What if you let go watching TV just for a week?

I am not insinuating that you live like a caveman; rather, substitute each activity filled with booze of consumerism with an activity that brings true inner happiness.

You may enjoy playing cards with your friends or read books with your kids.

I promise that miracles will start happening in your life once you let go fake desire to own and, instead, start saving.

photo by: the G

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Comments (13)

I think this all makes a lot of sense. I don’t think you want to go all Fight Club and live with nothing but you definitely don’t want your possessions to define you either. Too many people get caught in this. “Whoever dies with the most toys, wins.” What a sad way to see it.

My personal approach is that the best way to spend my money is on experiences. I find that in most cases I can get a lot more happiness from things like travel than I do from buying a big TV. Since I can spread out the adventures a bit it means few big spends that have lasting enjoyment and saving money comes naturally.

Great perspective, Cody! Indeed, I’d rather spend money on experience as it brings lasting joy.

Well said Shilpan. Jackson appears to be a great example of how much people will put in jeopardy simply to underwrite a lifestyle they think will make them happy or impress others. The sad part is, all the consumption doesn’t make one happy, as has been well documented.

Love for stuff always brings insane thoughts and insane friends around.

We got into huge amounts of debt from buying things that ultimately, did not make us happy. Being out of credit card debt certainly does.

You can never find happiness by enslaving your future. I can’t agree with you more.

We own our stuff and it in turn owns us.

Unless we are very careful.

It is best for me, I’ve found, to choose to own little and to hold what I do own at an emotional distance.

“We own our stuff and it in turn owns us.” — I love it. Thanks Pal!

I agree. I really get weary about all the articles and discussions on how to obtain the best deals and so forth. In the end, it still seems all about getting more stuff.

Very nice post. A more spiritual existence with less consumerism as our focus would help us all and our world. We need me positive thoughts like yours bombarding cyberspace.

Without going all YOLO, being out and about visiting with friends and family or digging in the garden — or whatever turns your paddle — is infinitely better than making a butt-print on the sofa.

[…] Shilpan @ Street Smart Finance on the sillier aspects of consumerism, particularly as recently evidenced by Jesse Jackson Jr.  “The Only Key to Your Financial Freedom” […]

[…] The Only Key to Your Financial Freedom What consumerism really is, at its worst is getting people to buy things that don't actually improve their lives. — Jeff Bezos Have you ever entertained thoughts to find a single key to your financial freedom? We all have. Surprisingly, there is one key to… Read more […]

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