"Live simply. Care deeply. Speak kindly. Love generously. Leave the rest to God." This is a great rule for life. It gets to the heart of the matter that if we are seeking to serve God, we should trust Him with all our needs, while doing our part to be vessels of charity.
I like how it starts with "live simply." For if you try not to accumulate things, you are living for the next world. When I was in Carmel, our cell had simply a bed, bench, and a cross on the wall. It was a monastic minimalism so that our lives were fully concentrated on God. In the world, we do need a few more possessions than these, but it is a reminder of the importance of detachment.
To be detached is not to be "cold" or cut yourself off from others. It means to own things without our hearts being ensnared by them, or to separate our affection from the thing itself. The less our hearts are caught up in the things of the world, the more free they are to attach to the things of heaven.
This is what attracts me to "monastic minimalism" or simply put poverty of heart. There is a freedom that comes with having nothing. For our hearts are filled with God, Who is Everything. Yes we need to have certain things to have a comfortable life, and this is good. It is easy to accumulate however and the religious life reminds us: "Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal; but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also."