"Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery." Micawber
Living Below Your Means (LBYM)
More details on implementation details to LBYM can be referred from:
Motleyfool.com Special Feature, 2000 (External Link)
Chapter 3: Live Below your Means (External Link)
This lifestyle comes and goes out of fashion. The dominant idea here is to reduce the outer complexity of your life by choice. Limiting the way one chooses to live in order to focus time and energy towards a deeper inner calling.
Albert Fritsch, Voluntary Simplicity (PDF, External Link)
Also known as Downshifting
Minimalism is a more extreme version of simple living.