Minimalism is all about living a more fulfilling, simpler life. It’s about living with less stuff and having more meaning. It’s about people, experiences, and purging all your unnecessary stuff. It’s the anti-clutter. Here are the minimalism tips with respect to personal finance…

Practice purging

Make it a habit to purge things in your home that don’t add value to your life. If you’re not using something (whether it’s your clothes or your furniture), donate it or sell it. Having organized space with things you use will make you feel better about your environment.

Prioritize quality over quantity

Also try prioritizing the quality of something over the quantity of what you’re getting when you buy it. This may cause you to spend a little more, but only on things you value highly. You find that you spend less because you are careful to buy only what is very valuable to you, even if it does cost a bit more.

Spend money on experiences, not things

Spend money on experiences instead of things. This has proven to make people happier in the long run. Years down the road, you will remember the trip you took more than the purse you bought.

Simplify your financial accounts

Instead of having a savings account for every planned activity in the future (e.g.: a vacation fund, an emergency fund, a down payment on a house fund, etc.), simplify your bank accounts. The number of checking and savings accounts is up to you but consider long and hard why you need each.

Remember that wanting less is better than having more

Try wanting less. This will give you inner contentment because you won’t always be looking at what someone else has and wanting something you don’t need. Wanting less leaves, you more fulfilled and happier with your own life.

 

Until next time.

The MoneyShop Team

 

This article has been prepared for information purposes only and it does not constitute legal, financial, or medical advice. The publication, journalist, and companies or individuals providing commentary cannot be held liable in any way. Readers are advised to seek legal, financial, or medical advice where appropriate.