Sure, if you believe that you should most definitely do your best to consume less. Matter of fact, this is what people around the world are doing and reducing one of the highest sources of future consumption - children. I think it was a world bank report that came out recently that showed that people globally are having fewer children, with costs being the most commonly provided reason.

So, if you believe consumption is the issue, rejoice! It seems to be a problem that will resolve itself in a generation or two.