When you look at Buddhist monks, they have no fear, and they have no fear because they don’t have anything to lose.
In whatever you wish to pursue doing you can excel, if you aren’t plagued with the fear of losing all your worldly possessions. Obviously you need to take the appropriate steps to put a roof over your head, but also know that you have little to fear except fear itself.
It shouldn’t surprise anyone that buying less and doing less would mean having a little extra cash on hand. Fewer birthday parties to attend, meals out because you’re “too tired to cook,” fewer impulse purchases, etc. Then, when you find something you really do want, you have the money to buy it.
As you pare down, the focus becomes quality over quantity. Instead of having 10 thingamajigs that sort of work or that you sort of like, you are able to afford 1 thingamajig that you really like and that does the job right.