I've come to the realization that if you change your perspective and resist falling into the trap of the American lifestyle and status treadmill, then there is an equivalence principle that can be applied to wealth. That is, it is possible to be wealthy in two, equivalent, ways. The first is by earning more money. In this model, the more money you earn, the more stuff you can (and will) buy. Outwardly, you will look wealthy. You will have the big house, the fancy cars, the new kitchen with the all-important granite counter tops, the big flat-screen TV, etc. ad nauseum.
On the other hand, if you reduce your consumption by keeping that old, but functional car, or by actually going outside to see nature instead of buying that HDTV on which to view it via the Discovery Channel, you can be just as wealthy. By wealthy, I mean your expenses do not exceed your income and you can put money away in savings. A difficult shift in attitude and a strong will are required to resist marketing, peer pressure, and pursuit of status, which you could argue in America is equivalent to pursuit of happiness.
It is amazing how many things you don't "need" when you change your lifestyle and shun the status-seeking, nothing-but-the-best, I-have-the-latest-gadget-therefore-I'm-better-than-you attitude.
I'll admit it, I'm a geek, so the latest gadgets appeal to me based on coolness factor. But, when I think about buying another gadget, I just think of all the other crap that is piled up in the house that looked cool at the time, but that I never use. I've become jaded and a bit more realistic when it comes to technology over the years. This is why I still drive a 14 year old Honda civic that gets 38 mpg highway, rivaling many hybrids. This is also why I don't own a single HDTV, or any flat screen displays at all. If my CRT TVs are functional, then I am keeping them. I barely watch TV as it is. I don't need to see Mythbusters in HD.
I've come to the conclusion that as Americans, the advertising industry and our quest for prestige have driven us onto the "status treadmill." You see people whom you think are wealthy and have status with the latest and greatest stuff, so you think "If only I had enough money to buy that cool thing, I would really be happy." In reality, you sub-conscience is saying "I only I had that cool thing, people would think I am rich and I would be a more important person." You then look for the better paying job that would double your commute time. Or the manager position that would increase your income. It doesn't matter that you love what you are doing now and don't really like managing people. It doesn't matter that with the increased responsibility comes increased work hours. All you can think of is that extra money for more stuff.
Once you take that new job or promotion and the extra money starts rolling in, an amazing thing happens. The bills and increased costs from the extra stuff you are buying put you right back in the same position. You have the same amount of money to put in savings at the end of the month, if any at all. You have more stuff that you can't use because your job takes up all of your time. On top of that, your job is not satisfying your soul and you have less time to spend with your family. Even more disappointing, you are no more "important" than you were when you made less money. Sure, your job title might make you sound more important, but important to whom? The company that would lay you off without batting an eyelash when times get tough?
I admire people that are brave enough to join the "downshifting" movement. The lawyer who was going to make partner, but decided to drive a truck so he could spend more time with his kids. The doctor who quits her practice to stay at home and raise her kids full-time. It takes a lot of guts to look at society in the face and say "I'm not playing the game anymore." I am important as I am, I don't need a fancy title, huge house, or nice car to make me important. We are all important in our own way. I doesn't matter if you don't fit the traditional "American dream" model. As Eckhart Tolle says in The Power of Now:
The most common ego identifications have to do with possessions, the work you do, social status and recognition, knowledge and education, physical appearance, special abilities, relationships, person and family history, belief systems, and often also political, nationalistic, racial, religious, and other collective identifications. None of these is you.
