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Blog,  Digital Nomad

5 Ways A Minimalist Lifestyle Can Save You Money

Whether you’ve been wanting to travel more, purchase a home or you want to invest in your future, minimalism is an easy and effective way to save money.

One of the biggest ways I’m able to afford travel is by living a very frugal and minimalist lifestyle.

The minimalist movement became really popular because of the tons of benefits it has on your overall life. Although the lifestyle can bring you a lot of peace and clarity, minimalism can actually also save you a lot of money!

Especially when planned and adapted right for your needs, minimalism is such an amazing lifestyle!

It’s a simple concept of consuming less and living more intentionally, that naturally has a positive effect on our finances and mental health.

If you’re not familiar with minimalism, to put it simply it’s a practice of living with less and only consuming what is necessary.

A minimalist lifestyle can save you money in so many ways! However, the most important thing to remember, is to use these strategies in a way that you’re truly comfortable with, so that you don’t end up living a lifestyle that you’re not happy in. 

Here Are 5 Unique Ways A Minimalist Lifestyle Can Help Save You Money!

  1. CONSUME LESS

When you consume less it means you’re spending less money and when you spend less money, the more you have left over to save!

Saving more money leaves more room for emergencies, large purchases and investments you might want to make in the future. 

Overall, consuming less makes you a lot wiser with your spending and not take the the items that you do purchase, for granted. 

An important part of minimalism is evaluating your material items with an objective lens and only truly keeping what is necessary. 

The 24 hour rule is the perfect strategy to start reducing your consumption. Now you may think that certain items are necessities, but if you give yourself 24 hours to think about it before actually making the purchase, you might just change your mind.

If you do change your mind then you’ve saved yourself some money!  

This also doesn’t mean that you can’t ever spend money, it just means that you should be doing it more intentionally. Go ahead and still spend money on the things you enjoy, just make sure you’re truly enjoying it for yourself, you can actually afford it and that it’s 100% worth it!

  1. RE-USE MORE 

Have you ever ripped a pair of jeans and thought oh well I’ll just toss them out? 

How about instead of tossing them out, you learn how to sew or take them to your local seamstress, who can patch them up for much less than what a new pair would cost! 

Especially if you purchase high quality items you should always consider refurbishing before recycling! 

There’s a new trend called up cycling and basically instead of recycling your old items, you revamp them instead and give them more life before being thrown away. A great example of this is with those jeans I mentioned earlier that you shouldn’t toss away! 

One way you can also reuse more in your everyday life, is by fully squeezing out the extra toothpaste or detergent before actually tossing them away! 

  1. BUY QUALITY 

You might have to spend a bit more money on higher quality items however, they’ll most likely last much longer than the items that are made cheaply.

If you can truly afford it, high quality pieces fit perfectly into a minimalist lifestyle. When you purchase higher quality items, you often don’t need to replace them as regularly which helps you save so much money in the long run.

Let’s say you purchase an item for $100 and it lasts over 2 years, if you divide that over 12 months, you’ve only spent $8.30 a month and already gotten your money’s worth over that period of time! 

Don’t be afraid to spend more in the present to save money in the future. 

  1. KEEP TRACK OF YOUR FINANCES 

Minimalism means keeping everything simple and that includes your finances. 

Money plays a huge role in our lives and if we can make it as simple and clear as possible we can save lots of money over time. 

Keeping track of your finances in a planner whether it’s digital or physical will keep you organized and on top of your spending. 

When you pay more attention and have intention in the way that you use things, they often work a lot better and that absolutely goes for keeping track of your finances. 

Luckily for you, we have a FREE Budget Tracker available for Download when you sign up for our monthly Newsletter! You can print it at home or edit it digitally as you like! 

I also wrote a blog post called, The Real Reason You Don’t Have Enough Money For Travel, it touches on some pain points when it comes to personal finance, as well as some solutions for reaching your financial goals! 

  1. ORGANIZE YOUR SPACE 

One of the best ways you can get your life in order is by cleaning up. That means throwing out stuff you don’t use and organizing your space so that you feel clear minded. 

Being minimal is all about keeping everything in order, tidy and kept in place with a purpose. 

When you know where everything is and there’s a good flow to your surroundings, you can focus on the things that are important and that includes your finances. 

You’ll definitely see a difference in the way you accomplish goals by having a clean space to manifest and create in. 

PRO TIP: You can also make some extra money by selling the stuff you want to get rid of while cleaning out your space! 

Overall, minimalism is a lifestyle that takes time to get used to and master. 

Everyone lives minimally in their own ways so don’t think that you have to follow one set of rules to be a minimalist. 

The most important thing to remember is that you are in control of everything you do and in order to actually save money with these tips you have to do the work. 

If you enjoyed this read go ahead and give it a like and share on your social media! I also wrote a post called, “5 Ways To Save Money On Travel” for when the travel ban is over.

Also, enjoy a FREE Budget Planner when you sign up for our Monthly Newsletter.

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