A simultaneous variational principle is introduced that offers a novel avenue to the description of the equilibrium configurations, and at the same time of the elementary excitations, or undulations, of fluid lipid membranes, described by a geometric continuum free energy. The simultaneous free energy depends on the shape functions through the membrane stress tensor, and on an additional deformation spatial vector. Extremization of this free energy produces at once the Euler-Lagrange equations and the Jacobi equations, that describe elementary excitations, for the geometric free energy. As an added benefit, the energy of the elementary excitations, given by the second variation of the geometric free energy, is obtained without second variations. Although applied to the specific case of lipid membranes, this variational principle should be useful in any physical system where bending modes are dominant.The wide range of validity exhibited by variational principles in theoretical physics makes them either the ultimate fundamental tool in the understanding of physical phenomena, or a sort of mathematical indulging by the theoretical physicist, depending on the point of view. In soft matter physics, the prevailing attitude appears to be the latter, leaning more towards Mach than Planck [1]. In order to try to reverse this tendency, this note introduces a simultaneous variational principle for the unified description of the equilibrium configurations, and of the elementary excitations, or small perturbations about equilibrium, of lipid membranes. Lipid membranes provide a paradigmatic example of a two-dimensional soft material, where bending deformations are dominant [2]. As a research subject, lipid membranes sit at the crossroad of soft matter physics, biophysics, material science, and field theory [3-6]. There is also a close formal relationship to relativistic field theory, and the whole theory of relativistic extended objects, or branes, especially when considered as effective models, for example of black hole horizons [7], of topological defects in cosmology [8], or of hadrons in QCD [9]. The common theme is an effective description of physical systems in terms of geometrical continuum degrees of freedom, and the symmetry of reparametrization invariance, that for relativistic models is due to the underlying symmetry of the background spacetime, for membranes is due to their fluid state, or negligibile shear. The main advantage that lipid membranes possess with respect to other physical systems, real or possible, is the enormous wealth of experimental data, both available and accessible, that provides an exciting and welcome guidance to the theoretician's fecund imagination. For this reason, it is sensible to use the physics of lipid membranes as a paradigm for the study of the elementary bending excitations of a great variety of physical systems.At mesoscopic scales, an homogenous fluid lipid membrane can be considered as an infinitely thin surface, described by an effective geometric, reparametrization invariant...