We have almost always subscribed to this concept and have, for nearly a year, been taking it much further. We are slowly and consistently, unloading all but the bare essentials and basic sentimentals (pictures and a VERY few family items).
The progression is a wonderful way to de-stress. It is like taking a deep breath each time we get rid of a pile of things. We have learned to think carefully and throroughly before buying.
Our simplicity is based on its own benefits AND is because of our plans to move off the mainland. We would continue our simplicity with only one of these benefits, but having both simply deepens our desire to be simple, light and free!