Can Being a Minimalist Build Wealth?
The idea of owning more is a western phenomenon that assigns value for having more stuff. If you don’t have a boat or a wardrobe full of the latest fashion trends you are less worthy and should probably go buy something now to fill the void (just kidding but that’s how we feel, right?).
What is Minimalism?
The idea of minimalism has always intrigued me, especially as I clean and wonder how I ended up with so much crap! And then when I really start to think about it, I realize that I purchased all this stuff, most of which I didn’t even know I owned and certainly don’t use.
The Minimalists describe minimalism as, “a tool that can assist you in finding freedom. Freedom from fear. Freedom from worry. Freedom from overwhelm. Freedom from guilt. Freedom from depression. Freedom from the trappings of the consumer culture we’ve built our lives around. Real freedom.”
Using Minimalism to Stay Frugal
This is where minimalism and frugality come together to make a beautiful frugal baby! When we buy less stuff and focus on only what makes us happy, or is a necessity, we have more physical and financial space in our lives. We also get the wonderful side effects of having less stuff to clean, organize or manage.
The FIRE (Financial Independence Retire Early) community does a great job of bringing these two ways of life together to live intentionally while focusing on building wealth. When we clarify what is important to us and commit to only spend money in those areas, we free up a lot of income to invest and build wealth. This is a topic of its own but if it interests you at all, read more about it here.
How to Start Living Minimally Frugal
So what are we to do about it? The Minimalists also have a great 30-Day Minimalism Game which can help you start to clear out what you currently own. Look around and find patterns in areas that you spend money that you end up getting rid of. Home décor your weakness? Or maybe it’s books? Whatever it is, commit to spend less in these areas and use that money to pay extra on debt or invest. Having less is more after all.
