The Economic Power of Frugality

“For more than five years I maintained myself thus solely by the labor of my hands, and I found that, by working about six weeks in a year, I could meet all the expenses of living. The whole of my winters, as well as most of my summers, I had free and clear for study.”

This is to me perhaps Thoreau’s most thought-provoking statement: why do we keep working endless hours for someone else when we can live simpler lives spent pursuing knowledge?

Working eight hours daily for five days a week, you obtain 40 hours. Multiply it by six weeks, and you obtain 240 hours.

I live on less than $12,000 per year, so I just need to make $50 an hour to cover my expenses for a year.

As a tech freelancer, $50 is a low salary: the whole idea of working 240 hours per year appears quite realistic.

Of course, that doesn’t mean you can spend the rest of your time doing nothing. You might as well build new income sources, develop your skills, grow a garden, or help your local community.

240 hours per year is roughly equivalent to a 5-hour workweek, and it doesn’t involve the need for a passive income source. I know that Tim Ferris is an avid reader of Thoreau, but I don’t recall him quoting Walden. I find this 240-hour work year idea perhaps even more achievable, since it’s easier for skilled workers to find short-term high-intensity high-paying jobs than to build an entire business or find a 4-hour workweek job.

When you think about all those hours people spend doing things they don’t like to buy things they don’t need, you can’t help but rethink your entire life.