- Minimalism is a mentality that can apply to all areas of your life, not just the “amount” of things you own.
- Minimalism is about simplifying your life so that you can find joy and contentment in the way you live you life.
- Minimalism is about being intentional.
I feel like I’m constantly nagging you about practical minimalism and how you should use minimalism as a tool in your life- rather than a dictating factor.
And what I want to talk about today, is about how to apply a minimalist approach to money.
Because minimalism can be used in more areas than just the physical clutter in our lives!!
*the following contains affiliate links
We’re getting straight to the point today:
How To Apply A Minimalist Approach To Money:
1. Remove the excess.
The first step is very practical. It’s called, remove all the excess.
To Do: Write down everywhere your money goes.
Now, remove the excess.
What subscriptions are you paying for that you never use?
- Gym memberships
- Club memberships
What services are you still being billed for that are no longer in use?
What are ways you could lower some of your bills?
Example: I lowered my cell phone bill because I noticed that I didn’t use nearly the amount of data that I was paying for. I’m now saving $15 a month and that’s without it affecting me at all.
Your job is to find the superfluous in your budget and get rid of it. I’m not even talking about living frugally and scrimping on your power bill. I’m talking about STOP PAYING FOR THINGS YOU DON’T USE!
(Yes, I just shout-typed that at you, you’ll get over it.)
2. Tell your money how it’s going to be used.
Minimalism is about not letting our stuff control us. The same can be applied to our money. Unless we want it to control us, then we have to be proactive about how we spend it.
- Spend less on bills.
- Stay out of debt.
- Don’t get caught up in paying for things just because other people are. (i.e. subscription boxes, online subscriptions, expensive phone plans, etc.)
3. You’re intentional about what you pay for.
Have a purpose for your money.
Money is a tool to you, not a master, and so you should treat it as such.
Don’t get wrapped up in buying things because it’s popular at the moment. Focus on if it’s something you would actually use, or if you’re simply buying it because everyone else is.
When you do need to buy things, (ahem, groceries) then you can still be intentional about what you pay for! Simplify your coupon routine with simple apps such as Ebates.
YOU are the one who decides what kind of things you bring into your life
4. You don’t let money consume you.
A minimalist approach to money means applying the attitude that money is not the key to happiness.
Money does NOT equal happiness.
Repeat that ten times. Every day.
It is soooo easy to become focused on money. With bills, raising kids, the pressure to have the latest and greatest.
But happiness is something we choose for ourselves no matter where we are in life.
I’ve known many happy people, both wealthy and flat broke. I’ve known many unhappy people, both wealthy and flat broke.
Money is NOT what brings happiness and taking a minimalist approach to money helps us remember that money DOES NOT DEFINE US.
Money is a great tool, yes, but if we aren’t happy when we’re broke, then we sure aren’t going to be happy with a bunch of money sitting in our accounts that we’re hoarding.
And let me tell you a secret: at the end of life, our money is not coming with us.
What are some ways that you apply a minimalist approach to money?