Altruistic Egotism

"Right, so I agree that considering the climate should be at the forefront of our decisions and define our lifestyle. But how can I live a more sustainable life without being stingy?" I hear you shout from the other side of the room.

This is why we can't have nice things said Taylor Swift (in her album Reputation).

When following the journey towards financial independence, people sometimes fall the wrong side of the stingy/frugal balance. These may seem to have similar meanings, but they are, in fact, quite different.

To be stingy means to be needlessly penny-pinching purley in order to put more money in the bank. This includes refusing to spend money on things which genuinely improve quality of life or save you time. The goal here is to save money at all costs, even at the sacrifice of your own time and sometimes personal wellbeing.

The frugal person is cleverer than this. They understand that there is a trade-off between time and money, and that, ultimately, time is the most precious currency of all. They spend money wisely, spending liberally on things which save time or significantly improve quality of life. Such a person might focus more on experiences rather than physcial things. Meanwhile, they will cut out unnecessary expenses that don't add any value or happiness to their life. The focus of the frugal person is in spending money on what truly makes them happy, but not overspending on any excess. They cut out the crap from their life.

The fact that we all need to live a more sustainable life if we're to preserve the Earth in a good state for future generations is obvious. And the solution is obvious - buying less shit and being less consumeristic. But it's clearly very difficult to put this into practise as so few people in developed countries live like this. In fact, the average American lives a lifestyle which is 5.1 times greater than the Earth can sustain, while for the average British person, it's 2.6x.

A lot of people just can't see that living more sustainably doesn't have to result in a miserable existence. Most people see this as being stingy and simply aren't interested. This is because most people confuse happiness with having an inflated lifestyle.

We've discussed how buying new things doesn't give you happiness for long in this blog before, and how your expectations quickly adapt to the new thing or experience. This is called Hedonic Adaptation. We will now build on that idea, turning this knowledge into a powerful tool which can help the Earth.

The key is focussing on a life which really makes you happy - not one which the rest of society deems should make you happy. Discover your personal indulgences and splurge in moderation - don't let hedonic adaptation take over - and significantly cut down your spending on things you don't care about. The key is in limiting yourself to these splurges just enough so they continue to give you a strong happiness boost. Absolutely, buy that new (used) car and go on that fancy holiday - but moderate these and make sure to "starve" yourself somewhat of excess in-between these events.

Cars are a difficult discussion point - they deserve an entire blog post (which I will try to write soon) - but I'm not a fan of buying a car from new, for two big reasons: 1) cars are BIG, 2-tonne hulking bits of steel, plastic and rubber which use a lot of raw materials. This excessive use of raw materials is not sustainable, especially when multipled by the 1.64 BILLION cars around the world. At least buying used, you're not contributing to further mining, smelting and refining. 2) The depreciation on new cars is extreme - they are such a money pit that you should run a mile with your shoes on fire if ever invited into a new car dealership.

The brain is wired to provide pleasure in the anticipation of rewards - an evolutionary trait which links back all the way to human hunter-gatherers, in order to keep them motivated. This "dopamine effect" occurs when the brain is seeking, anticipating or learning something, and will be heightened if your personal indulgences are consumed in moderation. It also encourages you to do those other productive things which are often put off in a busy life. This "buck-saving busywork" might include giving the house a deep clean, painting the garden fences, de-weeding the patio, finishing that book you've been meaning to finish, exploring a new park or going to the library. Doing these (sometimes menial) tasks which are often put at lowest priority, will make your personal indulgences so much sweeter. After all, the human brain and body are wired to do work, and cannot always be in a state of comfort and pleasure.

Giving should also be at the forefront of this lifestyle, that is giving your time or money to charities/ organisations that can do good with it. This should also give you a dopamine boost, or at least make you feel good about yourself, knowing you are contributing to the improvement of the world.

This approach combines an altruistic lifestyle, with the lives of others and health of the Earth in general at the forefront, with the egotism and vanity of personal pleasures. As long as there balance, then you can live a successful and sustainable lifestyle of altruistic egotism.

Maintaining the world for future generations does not mean we have to forgo all luxuaries in the present. By all means, buy that used electric car - but maintain it properly and keep it for 15 years. Then sell it back to the used market for someone else to enjoy. It's the circle of life.

*Yes, I am aware that altruistic egoism (without the "t") suggests that while actions appear altruistic (benefiting others), the underlying motivation is ultimately self-serving. My newly-coined term has the opposite meaning.