Stop chasing more and embrace a life of less

More, more, more is the mantra of today’s culture. Accumulate more things, more money, more social media likes, more food, more career success, more responsibilities, more house, more gadgets and more clothes.

Success in life is often judged by external indicators like luxury items, popularity, salary, or status items. Unfortunately these are, in reality, poor guide posts as they aren’t indicative of true wealth, contentment or positive lifestyles. The reality behind the shiny facade is often debt, money worries, stress, poor health and disfunctional relationships.

I’m firmly of the belief that we’d be better off individually, and as a society, by heading in the other direction. We need to reject this acquisition mindset and the boundless consumerism that everyone is caught up in. Instead, we might just experience greater fulfilment and happiness from a more moderate lifestyle and being less concerned by the opinions of others. Getting to this point may require an initial focus on less in order to restore balance as we pull back from our lifestyles of excess.

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ESG funds – green sustainable investing or a marketing gimic?

In recent months I have been looking at all aspects of my life to assess where I can lighten my ecological footprint and, within my personal sphere of influence, positively encourage global warming mitigation action.

Naturally for someone interested in personal finance, the question arises whether there are ways to invest in companies that have more progressive stances on the environment and, likewise, avoid certain firms or industries which don’t.

One approach that is becoming increasingly popular is ESG investing. ESG refers to Environmental, Social and Governance, three key factors in measuring the sustainability and ethical impact of an investment in a particular company. The concept picks up environmental concerns (eg. climate change and sustainability), social concerns (eg. diversity, human rights, consumer protection and animal welfare) and corporate governance (eg. executive pay, employee relations and compensation). All good things in my mind, and aligned with my values.

Like anything though, it is important to look beyond the surface and unfortunately ESG doesn’t necessarily mean as green, sustainable or ethical as I assumed. Digging a little deeper has me questioning whether ESG funds are materially different from other investment options, especially within an index fund. At a more fundamental level, I’m also questioning whether attempting to invest in sustainable companies makes sense or if there better ways to allocate my money and time.

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Embarking on a No New Stuff year-long challenge to keep me motivated on the journey towards longer term goals

Regular readers of my blog will recognize a number of repeating themes appearing in posts over recent months:

  • A desire for “freedom” from the weight of personal possessions and from the need for paid work (especially in an unfulfilling corporate job).
  • Acknowledgment of the value and importance of time, that we normally trade for things of little true value.
  • The lack of sustainable balance in most of our lives and in society at large. At a personal level, recalibration is needed around things like technology and social media use, TV, diet, exercise and consumerism. The bigger picture is equally out of equilibrium, with ever increasing social inequity and a willful ignorance about the ongoing damage we are inflicting on our planet and home.
  • Recognition of the need for challenge and voluntary discomfort to drive personal growth and lighten my ecological footprint.

Intellectual understanding and knowing are not enough. For change to occur, we need to take positive action and do something!

The journey towards Financial Independence can be a long, disciplined grind and we’ve set in place processes to hit our targets. We’ve also made great progress downsizing our possessions and housing. I’m still researching what effective mitigants I can put in place to reduce my personal contribution to global warming. Things are moving in the right direction but it’s a marathon, not a sprint. So how to keep motivated in the short term?

In the spirit of consuming less, spending less and hopefully learning to live with less, I’ve decided to undertake a year long challenge of No New Stuff!

The shopping ban will require avoiding sales, special offers, amazing discounts and other marketing gimmicks encouraging us to buy, buy, buy!
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