With so much of our culture and economy driven by impulse spending or unnecessary goods, minimalism is the antithesis to that. More people are looking to simplify their lives, though, and leaning toward a more minimalist lifestyle.
If you’re curious about minimalism and what it could mean for your finances, keep reading to learn what a minimalist lifestyle is and get some tips to help you make it work.
Simply put, minimalism is a lifestyle where https://sempolanayamtingting.id/ you intentionally live with fewer possessions, focusing only on the ones you need. Many people who turn to a minimalist lifestyle do so in order to cut back on distractions, costs and clutter.
At its core, minimalism places the value of time spent over collecting possessions. It could be with a goal in mind, like the FIRE movement’s goal for early retirement, or it could be solely to reduce money spent on needless items and focus it more on experiences.
How Does Minimalist Living Affect Your Personal Finances?
Minimalism can be a good tool for budgeting and saving money, depending on your situation. For example, reducing the amount spent on extraneous costs, like clothes shopping, can mean having more money to put into a savings account. Furthermore, living under your means helps ensure you’re less likely to run up debt.
How To Live A Minimalist Life: 5 Minimalism Tips
If you’ve made it this far, you might still be considering practicing minimalism. Adopting a minimalist lifestyle is not easy, but it can be done.
To help you get started, we’ve compiled a list of tips for you to check out.
1. Establish Your Goals
Before you get started, it’s important to sit down and create a list of goals you would like to accomplish through minimalism. Whether it’s decluttering a room in your house, cleaning out a wardrobe, no longer overspending, or focusing on saving money, write it down. When you set goals and write them down, you create constant reminders as to why you’ve decided to follow a certain path.
2. Stick To Your Budget
Sticking to a budget can help with living minimally. To embrace a more frugal lifestyle, you have to take a look at the money you tend to bring in and what you spend. Is there anything that doesn’t bring any true value to your life? What can you cut out to achieve your savings goals?
Removing nonessential costs from a personal budget, like on unused subscriptions, dining out and shopping, can make it easier to embrace a more minimalist lifestyle.
3. Declutter Your Home
When you’re going through the process of decluttering your home, it’s important to be honest with yourself when faced with the question, “Does this item add value to my life?”
If you’re not comfortable throwing away the jeans you haven’t worn in 2 years or dumping the coffee table you’ve had sitting in storage since you moved, you should consider donating your goods. It is an easy way to start down the minimalist path, clearing up space while also benefiting local nonprofits and charities.
4. Invest In Quality Pieces
If you’re going minimal, it’s probably because you’re interested in sustainable impact, financial gain or both. Although high-quality pieces may cost more upfront, purchasing items that will last longer means you have to re-purchase those items less often – a plus for your pocket and the planet. When you decide to go minimalist, its best invest in high-quality, durable pieces to save your future self the worry.
5. Reuse And DIY
Another way to be sustainable and frugal is to flip the furniture you already own. Instead of buying new, you could try to rework those old jeans that you thought you’d never wear again, or strip and stain the dresser that has been around for ages. Reusing and DIYing items is money saving, sustainable and overall fun.