Apart from the obvious concept that simplifying ones life will lead to more time and appreciation for the true richer things in life, simple living can also lead to financial well being.
Most millionaires who are self made exhibit the basic principles of simple living as a matter of course.
Their wealth resulted from their hard work, planning, discipline and an understanding of how their monies work.
In understanding how money works, they work hard and retain all incomes that it is possible to retain.
Then this money makes them even wealthier.
If you look at the way the average family on an average income behaves you will see a marked difference.
They may indeed work very hard, but on a regular basis they give away as much of their hard earned money as is possible without realizing it.
They give their money to the kind of people mentioned above who get richer and richer, quietly and simply.
How Do They Do This? Well for the average, uninformed family it is almost like the money is burning a hole in their pocket and uncomfortably scalding their skin, so any time they go out they simply must find a reason to spend and rid themselves of this cash.
Alternatively, most of the wealthiest people I know, that is millionaires and upwards, whenever we go out they make EVERY effort NOT to spend.
If they had to spend anything at all they would negotiate to the last penny.
This was something I found rather irritating at first as a young person...
until I understood and began to see the differences between the people I grew up with and the people my work circles eventually introduced me to.