I do a bit of both but both DH and I say we live quite simply. I have started thread about this before plus discussion. For us, simple living is about owning your stuff and not it owning you. We last year had a very bad storm causing our entire neighborhood to get flooded basements with sewage water. Turns out, the pumping station down the street was turned off for whatever reason. Neighbors who lived here 40 yrs had never had water blah blah blah.
for us, it was basically throwing out some toys and a few other items. Then taking everything out, clean basement and its contents and put it back. I looked at it as a forced declutter and the kids learned about cleaning up after themselves. When it happened, they cried about their toys but I stated how we were safe, they were safe and that was all that important. Of course it could have been worse- the water could have destroyed our furnace, freezer, w/d etc but it didnt thankfully. If we didnt have a working sump pump, it could have been worse. That was us.
Our neighbor who had been here 40 years had 40 years worth of crap in their basement that sat on their front lawn for the garbage pick up. Basically 3 living rooms worth of furniture from the 60s and 70s, a metal cash register circa 1969, typewriters, a 386 pc (remember that one velochic? ) plus other stuff. They were saving it for,.....seriously what were they saving it for????
Now they have a huge basement they can again fill up with more crap or use it for living space.