Financial minimalism means encouraging and supporting people to take action. Taking responsibility and control of your finances leads to more informed choices (which more often than not mean you can keep living the life you want while saving for your bigger goals)
Minimalism is all about living with less which it’s not necessary. This includes less financial burdens such as debt and unnecessary expenses. … For many minimalists, the philosophy is about getting rid of excess stuff and living life based on experiences rather than worldly possessions, but what if we live creating more of the things that really matter?
Shifting to a minimalist-inspired lifestyle while traveling and exploring has changed my relationship with money by helping me understand that when we have less of the things you don’t need.
Let me illustrate it
Extract value from your purchases
Everything that we spend money on holds a certain value in our lives. It’s up to us to determine, however, what is necessary versus what is superfluous when it comes to our expenditure. For example, we can buy food because we are hungry or because we are bored and feel like eating. We can purchase clothes that we want because they’re trendy, or because we need them. We can buy a glass of wine because we are genuinely craving one, or because everyone around us is drinking and we feel like we should join.
Learn to let things go
While there is nothing wrong with owning material goods, having less stuff is a sure way to reduce stress. There is a famous quote from the movie Fight Club that goes: “the things you own end up owning you.” I desire to have the things that create pleasure and joy, that I can feel the flavor of life and duplicate it with others to be able to share the joy again.
Fewer expenses mean more money
For now, I live in New York City, I make enough money to not have to think twice about buying the stuff that I really wanted.
By taking a step back and evaluating what we really need to live a fulfilling life, we can spend significantly less. Minimalism is so much different than being cheap – we don’t need to count pennies or deprive ourselves of necessities to generate more wealth. Rather, reducing our excessive expenditure helps us have more money to focus on what does matters to us.
In my case, living a more minimalist lifestyle has significantly liberated my funds, which I can re-direct towards following my dream of traveling the world. In the end, my greatest source of wealth has not been measured in dollars, but rather in the time and opportunity that I now have to pursue a lifestyle that I desire.
Another thing that I put so much attention to is
In addition to being minimalists based on what I own, another commonality is the way I dress.
I am a “functional dresser.” Women minimalists often build their wardrobe around a staple piece of clothing like that little black dress or slack suit. They adorn this basic piece of clothing with accessories, thus dressing with panache yet simplifying their clothing decisions. The same dress simplicity is seen in many self-made millionaires and billionaire men. Take Warren Buffet in his basic dark suit and tie as well as Tim Cook and Mark Zuckerberg in their t-shirts and jeans.
You ask: what is the correlation between having less with having more — dollars, that is? Are these seven-figure net worth beings cheapskates? Au contraire. These individuals surround themselves with fewer material things in order to have more orders. The order allows them to think clearer and have fewer decisions to make about the matters that have little impact on their lives. It gives them the freedom to focus on what money cannot buy: more time to think, more time to spend with family and friends, more time to give to others. They are not bound by the material things that fill most people’s homes yet have little functional value.
Think about all of “the things” that you have which have robbed time from your life. What could you easily eliminate and not even miss? Clothes that don’t fit, kitchenware, or knickknacks that do nothing except collect dust?
Ready to give it a try? Here are four ways for you to acquire “minimalist” as your middle name in three months or less:
1 – Keep a running list of what you wear and use at least twice for the next two months. Include the clothes you wear, jewelry, and other adornments. Include kitchenware, toiletries, bath towels, etc.
2 – Keep count of the items.
If you are like most, you may wear/use a maximum of 100 things.
Most of us use our favorite mug for morning beverages, wear the same velveteen rabbit clothes when we get home from work, and have four “go to” pairs of comfortable footwear.
3 – Analyze why you do not use the “other things” as your “go-to” items or clothes.
Perhaps you bought them on a whim, received them as a gift, or keep them for sentimental purpose even though they have no functional value in your life.
4 – Box the items that you have not used during the past two years and put them out of sight. After a three-month period, if you find that you do not miss these things, donate them, sell them, do anything except keep them.
If you realize that you are trying to buy the feeling of success, you can compare prices and see where else you could buy the feeling of success. Maybe you could buy some books on a subject related to your job. Your new knowledge could impress coworkers at your next meeting. Maybe you could make a list of things that you have succeeded in at work in the past, and put your Audi money into savings. Maybe what you need, is therapy so that you can get over the fact that your father never praised you, but always praised your older brother (or whatever happened to you in your childhood).
All iTs about shifting the way, be happier and joyful, and bring that piece to your moment.
Simply Essential Life.