I am not a minimalist. I do, however, like to keep things around my home free of clutter. Nice and tidy really is nice. I like to buy things when I need them and pass them up when I don’t.
Why You Should Consider Minimalism
Minimalism doesn’t have to be as extreme as people think it is. You can still own stuff and be a minimalist, and not all of your stuff has to fit into a single backpack. Extreme minimalism is great and all, but people like us, people with houses, kids, activities and people that don’t generally move around a lot can be minimalist too.
Think Quality, not Quantity
With minimalism, you refrain from buying things you don’t need. That means you spend less in general than if you just bought everything you could get your hands on. In turn, because you don’t buy everything, you save money on a regular basis and you can afford to buy the highest quality of something that is out there.
Typically, if you buy junk, it’s a pain in the butt to use, and ends up sitting in a cupboard because it’s just too inconvenient to get it to work for you. Instead of buying one or even two junky items, wait until you absolutely need something, save up, and buy high quality.
When you lose the need, lose the stuff
If one day you wake up and decide you are never going to golf again, but you spent the last year collecting all the golf equipment to get into the sport, get rid of it all.
It may sound almost too simple, and can be difficult to do, but it’s just stuff in the end. You bought it and you can buy it again should the need arise, but there’s no need in most cases to keep things around that you no longer use. Plus, in our fast moving world, if you don’t use something for even a few months, the newest model has been released and your stuff is obsolete anyway. It’s best to sell it while it still has value.
How this can be applied to personal finance
The principles of minimalism are very similar to that of the principles of frugality; buy or make things that you need when you need them and don’t when you don’t, sell things you don’t have use for anymore, don’t create unnecessary waste.
Minimalists discard extra baggage that weighs them down, and in finance that baggage is unnecessary debt and excess spending.
The principles say do things that give the biggest benefit to your life and don’t do things that don’t. Many financial gurus give this same council.
Minimalism is a lifestyle that shares many of the same ideas that good personal finance habits create and like anything else, one can take bits and pieces from an idea and apply it to their own life without committing to all aspects of that idea.
If the idea of living out of a single backpack or having a zen garden in your home instead of furniture appeals to you, by all means take up extreme minimalism and see where it can take you. If more organized and calm finances are what you seek, why not try taking a minimalist approach with your finances. It may just be what you were looking for all along.
Do you live a minimalistic lifestyle?
Image credit: mikecogh br>