The eighties and nineties brought about an influx of luxurious lifestyles. It seemed to be an era all about how much you could earn and all the things you could accumulate with it.
Nowadays, most people seem to have a different mindset.
They aim to be more frugal, to spend money on less stuff. With this mindset comes the popularity of things like tiny homes and minimalism.
Minimalism is a way of living in which you declutter your life and learn to live with less. In other words, a complete contradiction to our societal norms.
Many people that turn to minimalism find that contrary to popular belief, they’re actually happier once they get rid of the excess. With minimalism your life not only becomes decluttered, but so do your finances. In fact, you just might find that you save money. Here are six ways minimalism helps you save money.
1. It Causes You to Plan More
When your goal is to accumulate less stuff, you learn to plan out your shopping trips carefully. This is especially true in the case of your groceries.
Whenever you make a list, it’s likely that you’ll actually stick to said list. Ergo, you’ll avoid the pitfall that is the impulse buy.
A list, grocery or otherwise, provides you with a solid plan upon entering the store, which means you won’t be tempted to pick up random items along the way. In the end your lack of desire to buy more, causes you to plan, and in the end saves you money.
2. Smaller Home Equals Tinier Bills
When you have less, you don’t have a need as much space to store everything. Moreover, the bigger your home, the more tempting it is to spend money on items to fill it up.
One of the aspects of minimalism is the encouragement to downsize to a smaller space in addition to decreasing the amount of items you own.
Owning a smaller home means you’ll save money in a lot of ways. You’ll have a smaller mortgage, lower property taxes, and smaller utility bills. Moreover, you’ll have less to pay for in terms of upkeep in general.
Overall, having less of a home, means spending less as well.
3. You Spend More Intentionally
This kind of goes hand in hand with making a plan.
When it comes to minimalism, every purchase matters, because your goal is to purchase only the things that you really need. You won’t purchase every item that catches your eye just because it’s on sale or inexpensive.
Usually, when you make a habit of that, you end up with more stuff that you either don’t use or wear, or you end up with stuff that wears out more quickly. When you focus on living a minimalist lifestyle you take more care with each and every purchase. You carefully decide what you’re looking for, research the best possible option, and shop around before ultimately making a decision.
That being the case, while you might spend more initially, you’ll spend less in the long run because you’ll find something you not only really love and will get more use out of, but will also purchase something that lasts longer as well.Minimalism isn't the same for everyone, but it can help everyone save money. Click To Tweet
4. You’ll Live Within Your Means
In a society that constantly tells you not only what you need, but that you need more, everyone works to constantly keep up.
Most people spend money they don’t really have to simply buy things society tells them they need. Hence, many people’s credit card debt, as they work to find ways to purchase items out of their monetary limits.
Minimalism goes against the cultural temptation to purchase things that are not only out of your price range, but that you don’t really even need. By living a minimalist lifestyle, you’ll make careful purchases that you sincerely need, which ultimately means you won’t spend what you don’t have.
5. You’ll Put Extra Care into the Stuff You Own
When you make fewer purchases, the purchases you make are of better quality. Not only will those purchases last longer, but you’ll be more invested in each purchase as well.
By being more invested, you’ll work harder to take better care of your belongings. You’ll likely follow the actual directions when it comes to laundering your clothes, or read how to properly clean your appliances.
Moreover, since the clothes you purchase are of higher quality, you’ll go to greater lengths to keeping them in tact. You won’t hesitate to resole a nice pair of shoes or take a garment to get sewed or fixed. All practices that usually cost less than buying a whole new outfit or pair of shoes.
Furthermore, since you’ll take greater care of your items, they’ll last even longer, which means you won’t have to buy new ones quite as soon.
6. It Helps You Pay Off Debt Quicker
This isn’t the most obvious way minimalism can help you save money, but probably the most beneficial.
Between smaller homes and less purchases in general, minimalism will help you save money in a variety of ways. As you do so, you can put that money towards other, important expenses, like debt for instance.
Since you’ll be able to put your saved money towards paying off other expenses, you won’t accrue as much interest on your debts or loans. In the long run, you’ll be able to pay off your debts and loans quicker, which means you’ll ultimately save money.
Minimalism, like many ways of living, is unique to every person. You may not get rid of everything another person might, or may opt to stay in the home you’ve always lived in.
No matter how you adjust minimalism to fit your preferences, you’ll still find that it inherently causes you to be more frugal and more aware of every purchase you make. And in the end, you’ll not only save, but free up more of your money to spend on the things that are truly important to you.
Have you tried living a minimalist lifestyle? If so, in what ways have you found that it’s saved you money?