Most of us wish we could save more money in life, but the actions of actually implementing a plan are often too difficult to apply in our everyday lives. Fortunately, there is a financial strategy that’s both simple and easy to actually follow: leading a more minimalist lifestyle. After all, by definition minimalism is all about simplifying your life and cutting out those things that are frivolous, distracting, and unneeded.
The hardest part of saving money through minimalism is knowing where to start. Lucky for you, here’s our step-by-step guide to saving money by leading a more minimalist lifestyle.
The first step is to take a hard and honest look at your current lifestyle. What could you do without? What about it do you enjoy the most? What do you value the most? The answers to each of these questions will vary from one individual to the next, but we’ve found that when people reflect back on their lives they often value experiences more than possessions: trips they’ve taken, friends they’ve spent time with, or personal triumphs.
How much enjoyment do you really draw from the constant revolving door of new phones and electronics vs. the experiences you’ve shared with friends and family? To get an idea of what you value the most, try writing a list of the happiest times in your adult life. Doing so will give you an idea of what you value and a better perspective on what makes you truly happy.
Once you know what’s important to you, it becomes easier to identify and cut out what isn’t. Using the example of new smartphones above, next time the shiny and new iPhone or Samsung phone hits the market, ask yourself if you’d rather shell out the money to buy it or go on a well-earned vacation. A new phone can often cost several hundred dollars, more than enough for a nice weekend getaway.
What about things you already own, though? It’s ok to keep those, right? After all, you already have them and they don’t cost anything. But this is a deceptive way of looking at material items. Instead, think of them like this: would you miss them if they were gone? How much space do they take up in your home? Could you downsize your living space and save money if you got rid of them?
There’s are just a few of the ways to apply minimalism to your life and save money at the same time. What you’ll find as you cut out more and more of what you don’t need from your life is that the fewer things you have, the less money you’ll spend on anything that doesn’t directly contribute to the improved quality of your life.
And if you need financial help to jumpstart the process of implementing your minimalist lifestyle, a title loan could be just what you’re looking for. They're fast and convenient, and will give you the tools you need to start cutting back on your lifestyle and find satisfaction in life’s simple pleasures.