I came around a post that reminded me of this very topic "WHAT YOU DON'T HAVE, YOU DON'T NEED and this very phrase was instilled long ago in me when I was still in school
Minimalist ideology has been around far longer than most realize.
"The root of suffering is attachment." (to material possessions)
-Buddha
"Minimalism does not imply not owning things. Only that things, do not own you."
It may seem counter intuitive. But some of the happiest children I've seen were the ones living in poverty with few worldly possessions. While by contrast some of the more miserable children I've seen were ones with a wealth of material abundance.
At some level an overabundance of worldly possessions could cause us to forget what is important in life. While the opposite may also be true.