Week 4: The Wealth of Frugality

“Wealth consists not in having great possessions, but in having few wants.”

(Epictetus)

The Essence

True wealth is measured subtractively: how little you need. Controlling your wants frees you from the endless cycle of acquisition and creates true independence.

Takeaway

True wealth is not in your bank account, but in mastering your desires. Control your desires, and you are the richest person in the world.

Application in Daily Life

• The “24-hour test”: Postpone purchasing decisions for 24 hours. Most impulse desires disappear during this time.
• The “Do I really need it?” check: Categorize weekly expenses into needs or wants to raise awareness of consumption.
• The “appreciation exercise”: List three things every day that you already have and that are priceless (e.g., your health, your experience, your love).