Released September 4, 2009
PINE BLUFF, Ark. - When asked "What do you do for enjoyment?" a growing number of Americans have a hard time answering. Unfortunately, many would respond that they have no time for simple pleasures, says Rita Conley, Cooperative Extension Program family resource management specialist at the University of Arkansas at Pine Bluff.
The economic downturn has spurred a resurgence of the voluntary simplicity movement. The reasons may be a necessity for some, says Conley, but for others it is prompted by the feeling that they have had enough of chasing the American dream to constantly acquire more or bigger stuff. The time spent working to obtain or maintain these material items leaves them little time to enjoy them, she says.
The simple living movement is evidenced in a range of genres from reducing clutter, do-it-yourself (DIY), environment/greening and through a variety of media including magazines, books and television shows, Conley said.
Voluntary simplicity should not be confused with extreme frugality, says Conley. Voluntary simplicity is choosing to live simply by "doing more with less" and being satisfied. She acknowledges that this concept is not for everyone, but having financial security certainly is.
"Being satisfied with a scaled back lifestyle increases the amount of money you have available to save and invest," she says. "It reduces your debt now and in the future."
Here are some ideas of how voluntary simplicity may help your financial situation and help relieve financial stress.
Unless you have an unlimited supply, spend money wisely. The next time you are about to use your credit card, ask yourself if you would buy the item if you were paying cash. If the answer is no, leave it in the store, she advises. Research shows that most people spend less when paying with cash. "We demand more value from purchases made with cash because of our psychological attachment to cash," she says. This is not true of credit cards because we charge now and pay later.
Use automated financial services, such as direct deposit of your paycheck to a checking account, a savings and/or investment accounts. Automate bill payments. This helps you stick to a budget and reduce temptations to overspend, she says. Spending priorities are automated.
Purge closets, home and storage facilities. Sell or give away the excess. If you sell the items, save the money earned, pay off a small debt or fund a family activity that everyone can enjoy. Do this often to help keep things organized and reduce your attachment to stuff.
Finally, set three simple financial goals. These may be steps to a larger goal. Write them down, read them daily, develop an action plan to achieve the goal and then follow the plan. This routine helps you focus and direct finances to what is important to you. Gradually, your lifestyle will change to follow your plan, says Conley.
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http://www.uaex.edu/news/september2009/0904uapb.htm
Writer: Carol Sanders, (870) 575-7238, sanders_c@uapb.edu
