See how having a minimalist money mindset can change your life today.
***The following is a chapter from my latest book, Minimalism & Your Money. Click the link to check it out in the Kindle Store, and see how minimalism can help secure your financial future! If you enjoy the book, please leave a favorable review if you have the time! Welcome to minimalist money!***
That new 56” inch television you’ve been eyeing for some time… You don’t need it, I promise. What you have is already enough. In fact, what you have may already be too much. This is just one thought from a minimalist. This is the kind of thinking we must achieve if we hope to strengthen our financial outlook. It’s not about taking all the joy and pleasure out of life, but please consider the following.
We run out to pay too much money for a television so we can have a bigger TV. We then spend a good deal of money on a television package that could run us anywhere up towards $100 a month. Next, we sit in front of this television for hours each day, when we could repurpose the time to make extra money to help our own cause. We miss out on the opportunity to make another $3,000 in a year, and that is a conservative estimate. For that estimate, I assumed we could make $8.50 per hour in that one hour a day we spend in front of the television. I also conservatively based the number on one hour of watching television.
With these “conservative estimates,” it’s easy to see that our time is much more valuable than we might realize.
To adopt this sort of approach, we must examine everything we own, everything we do, and how we spend our hours. Do the things that we own have a use? Not just any use, but a true use that adds real value to our days. Do the things that we do move us in the direction where we would like to be? Where would we like to be? Do you want a family? Do you want to get married, buy a house, pay off your house, or want to buy something that you need?
Decide what it is that you actually want to do and then ask if what you are doing is moving you in that direction. Is spending so many hours in front of a television helping to pay off college debt? I guess it depends on what kind of TV you are watching, but it’s probably not helping.
So stand up if you are sitting down (and don’t forget to take this book with you). Walk through your kitchen. Look around. The espresso maker you thought would be a joy to own but turned out to be a really big pain in the butt to clean. Think you still need it? Have service for twenty but have a family of three?
Do you need it?
Step into the living room. What items are in the living room that may no longer be useful to you? Don’t be afraid to make “tough” decisions to get rid of, or (even better) sell your belongings to bring in some extra money.
Go through each individual room, space, and corner in your house to see where you can apply this mindset. Along the way, keep your objectives in mind. Reallocating your time, money, and energy on your objectives can multiply your cause tenfold.
(END EXCERPT FROM MINIMALIST MONEY BOOK)
Obtaining the mindset of a minimalist can help in several key areas of life. Even if you do not fully embrace minimalism, consider how a few simple changes towards a minimalist money mindset can alter life significantly.