I was reading a book called Spartan Up. A great book about the Spartan Race founder and movement that has a lot of good material about grit and perseverance. I might write about it more because I think there are some similarities to having good financial discipline.
But what caught my eye was a quote by Epictitus as follows “Epictitus defined wealth not as having numerous and extravagant possessions, but as having few wants.”
One of the greatest benefits of managing our finances has been the way it has forced is to simplify our lives, be content with less and appreciate what we have. And that lack of want is, in itself, a kind of wealth.
We don’t live a life of scarcity and stinginess. In fact we just got back from a 4 day trip to Disney Land. We tithe 10-11%. We don’t drive luxury vehicles but we certainly don’t drive beaters. We live in a very middle/low income house.
And we don’t feel the need to have more.
You might say we are striving for more by actively growing our net worth, but that could also be categorized as planning for our family’s future, placing safeguards for emergencies, etc. We simply don’t feel compelled to buy the latest toy, car or trip.