We all desire to save money, the reasons for this may vary from person to person. Maybe you want to start investing or want to buy something which you love. Other reasons can be saving money for hard times, buy some special gift, maybe for someone special or for yourself.
We have talked about minimalism in the past blogs. And found out that it is a lifestyle that helps in self-discovery in its own way. Minimalism can help one to have lesser possessions and a clear mindset. A clear mindset is a sign of knowing yourself. So minimalism helps you to know yourself better.
We have covered these things in the past posts, in this post the main question is how can minimalism help in saving money? What are the ways suggested by minimalism? And are they enough for saving our precious money, or not?
So without further due, let’s start.
Why do we spend our money?
This sounds like a stupid question, isn’t it? We spend money to buy things. Ok, let’s get a little deeper. Look around your house and try to check if everything which you have purchased with your money, is useful? Do all of them add value to your living? Do you really need them? Is there anything which you can live without also? The things which you use are 100% for you, or you have bought them for the validations of others? How many subscriptions/memberships do you have? Are you using all of them?
Umm, that’s a lot of questions! You can also ask the same set of questions before purchasing anything new also.
See minimalism doesn’t say that spending money is wrong. It simply helps you to use that money to buy the stuff that you really want.
7 Habits of Minimalism to save your hard earned money
See minimalism is a lifestyle and lifestyle is made by habits. To save money there are simple steps/habits which you can use in your daily life.
1. Why do you want to save money?
Try to understand the reason. While finding the reasons, you can list your goals both long-term and short-term. The reason for doing anything is way more important. Your reason for saving money can be anything, from having a pet to traveling, opening a business, anything.
2. Understand your current items
Create a list of all the things that you own right now. You can start with app subscriptions/membership. Try to be specific with them, e.g. you can break down the cloth category like top, bottom, jackets. And in a similar way break down all the things you own. This is a little tiring, but this will help you to understand the things you own right now.
Check the list, and remove all the items from it which are not useful. The criteria here is simple, ask yourself: Do you really need them? Do you already have enough of them? Will it be helpful? Can you remove it for your goals?
If you can remove any item, yes you guessed it right, just brutally remove them.
Instead of throwing, you can check which one you can sell, or donate. You can list them online, or you can sell them using your social media accounts. For donating, you can search online, you will easily find the spots, where you can donate.
This can take some time, but after this half of our process is done.
4. Start eating at home
Create a plan. You don’t have to follow any diet, you already look amazing, but create it so that less time can be wasted on choosing the food. You can create a chart and start following that, this will save your traveling cost. Also, online order is prohibited here. Ok, you can order once a week, as a treat to follow all the steps. But creating a meal plan can actually save a major portion of your earning. Whenever you want to order food, just remember, your goal is bigger than that junk food that you are not ordering now.
5. Purchasing Pattern
There can be cases when you feel the need to buy some more, they can be clothes, toys, shoes, showpieces, anything. Before buying them, simply go through the list and check in that, if you already have then you don’t need them. And surprisingly, you will try to buy those things which you have removed in the decluttering process. So you know the answer, do not buy them.
Get yourself out of the purchasing pattern and you will feel good at the end of the month.
6. Reuse & Repair
Before buying anything, check if anything can be used as an alternative. Also, check if that can be repaired or not?
After getting both negative results, you can purchase a new item, but remember the 5th point while purchasing.
You may have impulse buying habits, which many of us have these days. But the issue with that is in order to save money, you need to get rid of this habit. Try to add the item to the cart, and make the buy decision the next day. This will help you to realize, whether you really need that or not.
Also, you can turn off the notifications for these apps, it will really help you to stay safe from these temptations.
Always remember, the execution is important after the plan. To be motivated you need to constantly remind yourself about your end goals. Although, these financial habits will change the way you think also. They are the indicators that you can live with less, without losing anything.
I hope this article will help you to save money using minimalism. Please let us know your views on the post in the comment section.
Thank you for reading!!!