The Upside of Downsizing

Three ways downsizing has had a positive impact on our lives – and could on yours, as well:

1) When you stop supporting a lifestyle, your life becomes enriched in ways you never imagined. A smaller mortgage and no debt allows more time and energy to pursue the best quality of life possible. Studies have shown that you really can’t buy happiness, i.e. people with a lot of material wealth are not generally happier than the rest of us. So, happiness is not about the things we possess, it’s about the experiences we have, and the people we make connections to. Imagine if you pared down your expenses to the extent that you weren’t stressed about needing to make a certain amount of money. What wonderful experiences and activities could you “spend” that freed-up energy on?

2) When your priorities shift, you’ll meet like-minded people who want to relate to you based on who you are rather than the things you have. We’ve all heard the question workaholics are supposed to ask themselves: On your deathbed, do you really think you’ll regret not spending enough time in the office? The question is a valid one for us all. The things in our lives don’t give back: People and experiences do. What better proof than a recent study which found that happiness is contagious. In addition, as you make connections to others who feel no need to “keep up with the Joneses,” you’ll learn from their actions and priorities, thus reinforcing your new-found freedom.

3) When you get off the never-ending treadmill of working to support possessions, you’ll notice a certain spark back in your life you may not even have realized was missing. Remember when you were in school or just starting out in your job? Life was stimulating – full of challenges, invigorating. Then, as we started accumulating the spoils of working for a living - all the stuff we claimed as rightfully ours - we settled into a routine. Our lives became rote. It’s crucial to keep stretching ourselves by learning new things and having new experiences. Doing so enriches out lives in ways that material possessions never can.

Many people are facing serious financial trouble these days. While there are resources to help consolidate loans, come up with a budget, etc., there is little out there that treats the need to do these things as a path to greater happiness. Rather than looking at downsizing as a sacrifice, try thinking about the freedom and lack of stress you’ll enjoy once your finances are in order. Don’t look at is as giving up the things that you always thought were important, but rather as discovering those things that really are.

By Doreen Orion, a psychiatrist who spent 24/7 in 340 square feet for a year with her psychiatrist husband when they traveled around the U.S. in a converted bus. She is the author of Queen of the Road: The True Tale of 47 States, 22,000 Miles, 200 Shoes, 2 Cats, 1 Poodle, a Husband, and a Bus With a Will of Its Own (Broadway Books). For more, visit www.QueenOfTheRoadTheBook.com.