Choosing to Make Less Money & Live Simply made me happier. Here's why it may work for you too.

should you change your life and make less money  to be happier if you're asking this question know   that you're not alone nor are you alone and  hesitating especially if you already have a   job that pays well with benefits possibly a fancy  title and whatnot it can seem like you're being   ungrateful or just overall silly everyone else  wants more more why would you go in the opposite   direction right i was back in my home country of  singapore recently you know all bright lights big   city a consumerism-focused culture the ethos in  singapore is definitely to strive for more nicer   salary bigger house nicer car etc it's just such  a huge contrast to the life i've actually chosen   so about 10 years ago at the age of 29 i quit  my corporate career and downsized my lifestyle   massively so i could have more time and pursue a  healthy and meaningful life i'll beat a frugal one   anyway today i thought i'll do a little round  out about the pros and cons about forsaking the   money chase and living simply a lot of the cons to  choosing this lifestyle is pretty obvious starting   with number one the necessary downgrade of your  lifestyle habits to adapt to your new bank balance   stuff like where you go to eat and chill with  friends how often you do it color splurging is   of course no longer something i could afford this  was across all aspects of my life but to be honest   though i barely felt the pain of these cutbacks as  it turned out things really didn't matter much to   me so as long as i have decent clothes to wear and  a safe roof over my head it didn't really pain me   that i'm carrying a plastic bag instead of chanel  although i'm taking the bus instead of driving my   own car it wasn't bad it was just different and  really i liked feeling more grounded and connected   to the people around me as opposed to before where  i had money but very little time so i was always   just rushing about number two it restricts where i  travel to and in what style one of the motivations   for me choosing to change my life and make less  money is so i have the freedom to travel but it   also meant that the nature of travel altered  permanently for me instead of trips to pricey   destinations like europe the us or japan it's  mostly developing destinations for me these days   instead of staying at the ritz my accommodation  is more likely to be humble lodgings in the   range of tens of dollars a night on the flip side  though instead of having 28 paid days off a year   for the past decade i've mostly changed countries  every few months and seen a lot more of the world   in that time than i would have otherwise instead  of glancing through places in a matter of days i   get to stay in a new destination and really live  and observe and appreciate its culture the people   and the food plus personally i find developing  destinations much more interesting anyway   so for me overall not a poor trade-off i say  number three going low income can be mentally   and emotionally stressful having a smaller buffer  between you and being broke can definitely make   you anxious that's especially more so for me is  singaporean who grew up being taught that having   large financial buffers is extremely important and  desirable so yeah well i was basically freaking   out inside my head for many years i still do  to be honest but over the years exposure to   different ways of life and different cultures  also put a lot of things in perspective for me   i mean not every other person makes twenty  thousand dollars a month but most people   still live happy and fulfilling lives full  of activities friends and family even kids   and they still make ends meet as a more practical  solution to tackling the financial stress i force   myself to be financially aware and in control  of my affairs as much as i can even though it's   not something that comes naturally to me i also  remind myself that i've had a great education   great work experiences good ethics and attitude  so as long as i behave sensibly i should always be   able to make ends meet no matter how number four  if you have big life plans in mind like making a   big trip around the world having kids or buying a  house making less money will of course delay this   kind of stating the obvious but you just have  to consider if the trade-off you may receive in   terms of the freedom and perhaps fulfilling  other dreams using that freedom is worth it   number five society's perceptions can hurt if  you're sensitive i just don't let what other   people say bodily much in general since i'm really  happy with my life on a daily basis and what   people say is really irrelevant to that and now  that we're done with the cons here's the reasons   why i have no regrets adapted into choosing  to make less money and live simpler number one   simplification frees you from complex decision  making freeing up time in your life for more   meaningful stuff when you have loads of money  it translates to loads of options and choices   you can always buy more even stuff you might not  necessarily need and you can always buy better all   that then means that you're spending a larger  proportion of your life on consumer decisions   researching gathering information comparing  making choices etc etc it may sound ridiculous   but when i was back in singapore i found making  any single purchasing decision incredibly painful   and fraught with decision paralysis even little  things like buying a mascara that's waterproof   ultra waterproof brown black ultra black best for  asian lashes curling power lengthening thickening   and whatnot this just went on and on and it really  made me want to crack my head open on the other   hand when you don't have lots of money you really  just buy what you need and price limitations   usually means limited options i adopt the  mentality that i'm happy with what i get so long   as it fulfills its basic function all that means  i get to skip all that complex decision making   which in turn saves me time that i can instead  spend relaxing and petting my dog or something   it's absolutely a personal choice though i  know many people who enjoy the money side of   things and the whole consumerism process number  two i'm no longer weighed down by the burden of   material possessions having lots of things or  having expensive things can quickly translate into   the things you own owning you instead how much  time do you spend caring for your possessions like   cleaning your car organizing all the clothes  in your wardrobe even earning the money to   service the mortgage on that luxury house or how  emotionally invested are you in those branded   sneakers and watches that represent who you are  and how you have to be careful to maintain these   possessions so that they don't get scratched or  dirty really leaving all that stuff behind means   i don't spend my day worrying that the porsche  is going to get key because i parked it in a   public spot and anytime i decide i want to travel  somewhere my life fits easily into a luggage plus   a backpack and i'm good to go number three it's  deepened all the relationships in my life with the   people who truly matter the hardest adjustment in  terms of choosing to intentionally make less money   was that i could no longer splurge on  my friends and family like i used to   it's wonderful to be able to be generous to your  friends and family because money is no object   even if you have to rush back to work at the  office straight after the meal these days though   instead of treats and gifts i express love and  appreciation through spending quality time and   loving action like cooking dinner for friends  at home instead of going out to a nice place   we all still have a nice time together anyway and  it's actually created stronger bonds between me   and my people and the last but the most important  number four it's forced me to learn to be far more   mentally resilient and financially savvy than  i would be otherwise and these are lifelong   important skills that just keep on giving spending  money carelessly when you have lots of it is easy   being financially savvy and in control of your  finances is far more challenging going low income   while trying to remain financially independent  and responsible is what forced me to learn how   to be smart about making spending and investing  money lessons i wouldn't have learned if i was   still busy lawyering learning to cope with the  transitions and the ups and downs through life   in the past decade also gave me loads of mental  resilience and made me understand myself so much   better eventually the combination of these things  also led me to pursue fire as a goal and now   10 years in i'm actually early retired  and living my dream life in bali   back when i was still lawyering i never thought  this would be possible before 40. a really popular   marketing slogan these days is yolo you only  live once but when i was looking around myself   in singapore it really started to make me think  is it that i only live once so that's why i need   to spend this and buy that to make my life happier  or is it that i only live once so i need to make   better choices more conscious choices in alignment  with my values and true beliefs and instead of   chasing pointless consumerism rabbits down each  hole i should truly consider how i want to make   and spend money in my life so i can truly live  life on my own terms people might say things like   i'm being unambitious or that this is a choice  i'll regret later in life but i don't think so   i feel like to a certain extent in terms of those  conventional beliefs about success i did achieve   and their beliefs were false promises because  my success didn't actually make me happy   as to whether or not i'll be regretting my current  path later in life i guess only time will tell   i'm hoping that the formula of being a good  person generally being sensible and always   giving whatever i'm doing my best shot  will carry me happily to my lives and   i'm betting my life on that belief but for you   there's no inherently right or wrong answer you  just have to be brave and make the decision that's   right for yourself i just hope that what i've  shared here can give you some food for thought and   help you move in the right direction well that's  it for today folks hope you enjoyed that don't   forget to click the like button and to subscribe  to the channel i'll see you next saturday you

Channel: Jean Voronkova

Views: 92,800

Keywords: minimalism, make less money and be happier, stay in your job, downsizing your career, downsize your life, the money chase, chasing money, chasing money till death, why i choose to live a simple life, simple living wise thinking, simple life reclaimed, simple living, work less be happier, money and happiness

Id: e-JsLn9oHvg

Length: 10min 50sec (650 seconds)

Published: Sat Aug 06 2022