Tuesday, April 08, 2008

My Definition of Simplicity

Simplicity is Hobopoet Principle number 1. What does it mean?

Well, it means: Live well below your means.

And what does that mean, exactly?
My rough rule is this: Live off half of your income (and save the other half to fund long bouts of blissful unemployment).

If you make 200,000 dollars a year, congratulations! You live of 100,000 with a very abundant lifestyle and rapidly build savings (and thus economic flexibility and freedom) at the same time.

If you make 12,000 a year, then you live off of 6000. Maybe you live in your car or van to avoid paying rent (see my 2003-2003 Archives for practical tips). You drastically simplify your needs and wants. After a year, you have $6000 saved (a year's salary without work... enough to live very comfortably in Thailand or India for over a year).

W are brainwashed to live beyond our means-- taught that luxury is the key to happiness and comfort. The opposite is actually true.

Simplicity is not hardship once you learn it. Simplicity is the key to comfort and the key to security. A simple life, lived well below your means, reduces stress, increases feelings of security, and increases economic flexibility.

Simplicity reduces your dependence on any particular job. Simplicity increases opportunities (for vacations, for travel, for risk-taking).

Stressed about your job? About money?

Follow the Hobopoet Simplicity Formula:
Live off of half your income.

(Yes, it may take time to reach that level... but start working on it now!)

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