This quote was taken from the Simple Living Network and posted by My Simple Life:
Simple living is not about living in poverty or self-inflicted deprivation. Rather, it is about living an examined life — one in which you have determined what is important, or “enough,” for you, discarding the rest.”
We must all examine what we truly want in life, examine our values and determine what is important. This can defnitely apply to how you manage your finances by prioritizing what is important to you. This will be different for everyone, but it may help decide what you spend your extra cash on. I know I will think in that direction as I direct the extra cash that comes into my life in the future, while discarding things that just aren't that important.