Note: Voluntary poverty in the spiritual sense of the “evangelical counsels” doesn’t mean cashless groveling, but rather doing without frills, being frugal, and not being wasteful. It has a lot of overlap with the idea of simplicity, or simple living.

Quote:

“Voluntary poverty is the object of one of the evangelical counsels. The question then arises, what poverty is required by the practice of this counsel or, in other words, what poverty suffices for the state of perfection? The renunciation which is essential and strictly required is the abandonment of all that is superfluous, not that it is absolutely necessary to give up the ownership of all property, but a man must be contented with what is necessary for his own use. Then only is there a real detachment which sufficiently mortifies the love of riches, cuts off luxury and vain glory, and frees from the care for worldly goods.”

“The vow of poverty is ordinarily attached to a religious profession; a person may however bind himself to a modest and frugal life, or even to follow the direction of an adviser in the use of his property. The vow may be perpetual or temporary. It may exclude private possession, or even to a certain point possession in common. It may entail legal disability or be simply prohibitive. It may extend to all goods possessed at present, or expected in the future; or it may be limited to certain classes of property; it may require the complete renunciation of rights, or simply forbid the application to personal profit, or even the independent use of the property.”

Source: Vermeersch, Arthur. “Poverty.” The Catholic Encyclopedia. Vol. 12. New York: Robert Appleton Company, 1911.