THREE REASONS WHY MINIMALISM IS GREAT FOR YOUR WALLET

If you’ve visited a Life on a Dime before or watched any of my Minimalism videos on the YouTube channel you know I am a big fan of this lifestyle. And while I’ve discussed different individual aspects before, today I will tie them all together in a nice little bow and explain how minimalism is great for your wallet.

THINK OF MINIMALISM AS A LIFESTYLE, NOT A DESIGN STYLE

First things first; I’m talking about a minimalist lifestyle, sometimes also referred to as simple living, and not necessarily the white walls, white furniture, expensive artwork design style.

If you like the white on white look that’s great. I have kids. It really doesn’t appeal to me. But the great thing about minimalism is… that doesn’t matter! Use what you have, keep what you need and love, avoid excess stuff.

That’s the minimalism I embrace. And it’s also the minimalism that will save you lots of money. Maybe even enough for that design style if that’s your thing.

MINIMALISM HELPS YOU FOCUS ON QUALITY AND AVOID REPEAT PURCHASES

Once you place the focus of your purchases on quality, it’s amazing how much money you can save buying fewer and better things! The cheaper a purchase is the more likely it is of poor quality.

When something is of poor quality it tends to break, wear out, or become useless much faster. Then there’s the issue of whether or not it is even possible or economical to repair.

When we buy more, more, more… we spend more, more, more. And way more often than if we saved up for higher-quality purchases. I learned my lesson with shoes. Fewer, higher-quality pieces is the way to go for me from now on.

Remember, Frugal Isn’t Cheap! You can be frugal and buy better quality. This ties in nicely with the concept of minimalism. Focus on quality and buy less often.

Some of the better quality items we’ve purchased are also some of the items we’ve managed to keep and use the longest. Even if you are buying second hand, try to look for the better-made garments in the best condition possible. You’ll save even more in the long run.

And this is just one way minimalism is great for your wallet!

MINIMALISM IS GREAT FOR YOUR WALLET BECAUSE WHEN YOU BUY LESS YOU SAVE MORE

This one should be obvious; the less money you spend, the more you can save. The trick is not to spend it on other unnecessary items.

Take the money you save on impulse purchases, random collections, browsing the clearance racks… and put that money toward your savings or debt payoff goals.

You can pay off debt or accumulate wealth faster if you stop spending money. Start selling some of that clutter you’ve decided to get rid of and it can even make you some money!

What are you waiting for? Start taking pictures and post that stuff for sale on Facebook Marketplace, Poshmark, Mercari, Craigslist… wherever. Just let it go and turn it into cash. That’s what it used to be anyway.

CENTER YOUR FOCUS ON WHAT IS IMPORTANT TO YOUR FAMILY & LET WHAT YOU VALUE GUIDE YOUR FINANCIAL DECISIONS

I’ve posted before on how to Align Your Money With Your Values. This is such an important concept and one I am still learning about. Values-based spending is so powerful!

We really do vote with our dollars and it is therefore so important to make sure our dollars go places and support causes we value. This is another way minimalism is great for our wallet; it gives us the opportunity to do more good with our money.

When you’re not focused on keeping up with that proverbial Jones family you can use that money you saved for the reasons above and apply it to areas that are more meaningful.

Want to create more memories with your kids? Focus on gifts of experience and not more stuff. Is there a local charity you’re more passionate about? You might have more money to support their cause.

MINIMALISM & SUSTAINABILITY

Minimalism has kind of gone hand in hand with a greater appreciation for sustainability in our household. We recycle on a weekly basis again and I’ve eliminated a lot of one-time-use purchases from our shopping lists altogether.

In fact, my most successful post to date has been 10 Things Minimalists Don’t Waste Money On. It’s literally ten categories of items that we no longer purchase. I could probably list out more if I sat down to it.

I’ll give you a hint; one time use products are pretty big on that list! When we focused more on sustainability, those items were the first to start getting knocked off the shopping list.

Now instead of plastic food containers, I buy stainless steel. As the kids get older I’ll probably buy more glass. For now, safety first.

We have also made great lengths in being frugal and nontoxic in our household; all of our household cleaning and personal care products have been replaced with more eco-friendly options.

It’s not perfect by any means, but it makes a difference!

THIS HAS BEEN OUR PERSONAL EXPERIENCE WITH MINIMALISM

Your experience will no doubt be different. Your idea of minimalism will likely be different too! If you haven’t given minimalism a chance I highly encourage you to do so.

If you decide it’s not for you then you’ve hopefully at least gotten rid of some clutter. Who knows, you might also discover minimalism is great for your wallet as well!

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