8 November, 2009

Financial Lessons from a Man Who Lives for Free

A fascinating article from Details magazine profiles Daniel Suelo, a Utah man who lives without money – literally.

He resides in a cave, bathes in a lake without soap, picks food from the mountainside and gleans the nearby town’s leftovers from garbage and recycling bins. While this lifestyle takes frugality to an extreme even I find excessive, his habits offer some important reminders about how much we waste – and could be saving.

  • Heating & Cooling: Living outdoors is only pleasant a small fraction of the year – most of the time, the temperature will be either too hot or too cold for most of us. But Suelo serves as a reminder that we won’t die if we lower the heat or shut off the AC for a while (even in the desert).
    • Save Money: Layer blankets and clothes in the winter; sip icy drinks when it’s hot. Being a little tougher can save you serious money in electric and gas bills.
  • Tossing Food: Be realistic with yourself. Don’t buy more than you can eat and learn to love leftovers (and Tupperware). While it may feel good to stock up on fresh fruits and veggies (look how healthy I am!), remember that these foods spoil fast, which can translate to wasted dollars.
    • Save Money: Learn recipes to salvage produce that’s near spoiling (banana bread, soups, stir-fry dishes, etc.) and, when buying, get stuff that still has a little shelf life left.
  • Working too Much: In the article, Suelo mentions that, when working in healthcare, he felt guilty for getting paid when all he wanted to do was help people. This may sound a bit radical, but he makes a significant point: if your job is rewarding, you’ll want less money to do it.
    • Save Money: This is a tough idea to act on, but at least think about it: would you still do your job if you didn’t get paid? Few of us can answer “yes” to that, but remember that if you can, you likely won’t feel compelled to buy much “stuff.”

Easy Concepts, Tough Decisions

Suelo’s lifestyle is – as he admits – hard. It made my own life seem much easier in perspective – after all, I have a mouse-free bed to sleep in every night and I know I’ll have breakfast every morning.

And, while I don’t plan on renouncing cash or credit any time soon – or filing chapter 7 bankruptcy – I do appreciate his reminder that committing to frugal (or at least financially responsible) living has many rewards.

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