Hmm, I’m still pretty new to the simplicity thing (at least focusing on it) so these may change but here’s what I’ve got.
1) Freedom: For me this means freedom from all those things I thought I needed to be/have. As a child/teen I ached for people to be happy with me and the harder I tried to make them like me, the more depressed and inadiquate I felt. Then I turned to trying to at least fit in with everyone else (family living just above poverty level, going to a private university on grants and loans), this led to one of the things I regret the most, playing with credit cards. I want a simple life so that I do what I want with my time and resources because I WANT to, not because I think someone else wants me to.
2) Personal health: I stress easily, I’m still learning how to deal with it all. By simplifying my time and possessions I’m taking care of myself (still a new concept) which gives me the energy to take care of those I love.
3) Relationships: Who has time to just cuddle on the couch and listen to the rain fall when they’re so interested in having the perfect house/car/career/etc, etc, etc? I have been very blessed with my husband and am building friendships, and I do not want my energy and attention going more to inanimate things then those with hearts and souls.

Carla: That’s a really good point. Many times it’s not about keeping up with anybody; it’s a battle we fight (or a scale we balance) with ourselves. And there’s no right or wrong answers, just what works for each person.