Vairāgya (Devanagari: also spelt Vairagya) is a Sanskrit term used in Hindu philosophy that roughly translates as dispassion, detachment, or renunciation, in particular renunciation from the pains and pleasures in the material world (Maya). The Hindu philosophers who advocated vairāgya told their followers that it is a means to achieve moksha. True vairagya refers to an internal state of mind rather than to external lifestyle and can be practiced equally well by one engaged in family life and career as it can be by a renunciate. Vairagya does not mean suppression or developing repulsion for material objects. By the application of vivek (spiritual discrimination or discernment) to life experience, the aspirant gradually develops a strong attraction for the inner spiritual source of fulfillment and happiness and limited attachments fall away naturally. Balance is maintained between the inner spiritual state and one's external life through the practice of seeing all limited entities as expressions of the one Cosmic Consciousness or Brahman.
Example via www.ramdass.org: The Wheel of Illusion