How Minimalism Saves Money And Improved My Financial Life

Simply + Fiercely

A decade ago, I was a shopaholic living paycheque to paycheque and relying heavily on credit cards to support my inflated lifestyle. I had no savings and I felt like I was spiralling out of control.

If you’ve ever wondered how minimalism saves money then keep reading to learn more.

I’m sharing the details of how minimalism improved my financial life and also tips to help you live minimally and save money too.

Before we get started, I think it’s important to mention that minimalism doesn’t automatically save you money—especially if your definition of minimalism is centred around owning as few things as possible.

Does Minimalism Save Money?

I learned to stop mindless shopping because very few things seemed worth the sacrifice of my precious time, money and energy.

You become intentional with your purchases

After decluttering my life, I was able to downsize from a two-bedroom townhouse to a small studio apartment, which cut my living expenses by more than 75%.

Decreased housing costs due to downsizing

This means I’m no longer looking for quick and easy purchases to help me survive. Instead, I feel empowered to make mindful choices that align with my values and save me money.

You have more time and energy

I learned how to get out of debt and save money by making small intentional choices every day to have more of what really matters most to me.

Minimalism encourages a long-term focus

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