Almost all of us trade our time for money. While we can go make more money, we cannot make more time. I suggest adopting the mindset that every dollar you waste is a fraction of your life being thrown away. This mindset is a powerful motivational tool towards coast retirement.
If you can minimize your desires for material possessions that do not improve your happiness, you can win back your life and live it on your terms.
Want a 5,000 SF house? Think about how you will only use 20% of it on a regular basis. What about the number of hours you will spend cleaning it? Did you think about how you will pay significantly more to maintain it?
Want a luxury car? Think about the impact this will have on you and your closest family and friends. For a moment, the new car will feel great. But, over time it'll be like any other car, just getting you from point A to B. Your family, friends and neighbors will see your new car and most will desire one now too, potentially wreaking havoc on their budget. Humans are deeply pressured to keep up with our peers. Don't believe me? Go take a walk. When you find a luxury car in the driveway the neighbors are more likely to have one as well.
Want a pool? Talk to anyone that owns one. Most pool owners despise the maintenance and cost of them. Now take a quick look on Goople Maps. When you find one pool in a backyard, you will also find clusters of pools near each other. The actions of (1) neighbor can influence others to also get a pool and all be miserable maintenance in the process.
Some of the happiest societies and cultures have figured out, over thousands of years, that the display of wealth and status have a negative impact. Societies that value wealth and status have poorer quality of life. Unfortunately, our brains are wired to chase what our society values, and if it values wealth and status, we must think twice. Before you buy the next best tech gadget, or car, or large home, reflect on the impact it has on all of us. If you can find the reason to avoid the consumption traps that haunt our lives, you will be better of. If you’re not replacing something that is broken, you don't need it.
Use it up, wear it our, make it do or do without.