There are many things out there calling on our wallets to spend money.
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What is Minimalism?
The very core of minimalism is simplifying your life by intentionally choosing to live with less. It is not, however, just about getting rid of material possessions but more of a mindset that focuses on intentional living. That means focusing on what truly matters and eliminating excess. Minimalism is different for everyone, like managing your finances, and shouldn’t follow a “one-size –fits-all” approach.
Benefits of Minimalism
- Financial Freedom
By reducing unnecessary spending and being mindful of your purchases, you can free up funds for other experiences or save for the future.
- Reduced Stress
A cluttered space often contributes to a cluttered mind. By eliminating visual distractions, you can reduce the mental load those items have on you, leading to increased focus and productivity on what matters.
- Increased Clarity
Having a minimalist lifestyle helps you to reevaluate your values, goals and aspirations, allowing you to make more intentional decisions.
Who Benefits from Minimalism?
The short answer is everyone. That’s the great thing about minimalism; it is a lifestyle with no set rules. You can adopt small changes like setting up a savings account and opening a credit card or making significant changes like challenging yourself not to spend any unnecessary money for one month. Either way, you’re finding out what is most important to you and saving money on the way.
7 Minimalistic Habits to Try
- Declutter Regularly: Take the time to declutter your living space. Remove items that no longer serve a purpose. Consider selling, donating or recycling these items to help generate extra income.
- Practice Mindful Consumption: Before making a purchase, take a moment to think about whether that purchase aligns with your goals.
- Create a Versatile Wardrobe: Filling your wardrobe with timeless pieces will help you save money by not buying clothes in excess and keep the stress of decision-making low. Remember to declutter while you’re in there too.
- Minimalist Home Décor: If you can do it for your clothes, you can do it for your house! Choose pieces that are budget-friendly and can be used from year to year.
- Plan Meaningful Experiences: The age of buying things to feel good is out and traveling for pleasure is in! Plan trips using one of our goal-based savings accounts and have something to look forward to while you save.
- Cook at Home: Skip Saturday brunch with friends, plan your meals, eat leftovers and stick to a budget when going to the grocery store.
- Downsize your Debt: Paying off some debts can seem like it will take forever, but if you’ve made strides with other habits, this one will come easy. Be sure to have a plan that will help you achieve your debt-free goals.
Embracing a minimalist lifestyle can help you reach your financial goals, reduce stress and provide clarity in your life. Don’t forget to put those savings in a high-yield account to help them grow. We have multiple savings options, including low risk certificates. Don't feel discouraged if you're having trouble choosing the right option; call us today to get personalized advice from skilled associates.