Does Being a Minimalist Save Money?

When you hear the word minimalism, you may be thinking of a stripped-down home with white walls or someone who only “may” own 30 items of clothing in total.

Of course, you do not have to live like that to be called a minimalist. The concept of minimalism can accommodate many different things and mean different things for each individual person.

What minimalists often have in common, however, is to simplify for themselves in order to get more time and energy over to other things. Shift focus from the material to that which gives meaning in life.

This is achieved by scaling down in the areas that take more energy than they provide. Some who describe this well are the “Minimalists”. As a bonus, minimalism also tends to save you money. In this post I will go through how you can save money with a minimalist lifestyle!

What does all your stuff actually cost?

Most people are aware that it costs money to buy things. But we rarely think about the fact that it also costs money to own things.

When you buy something, whether it is a gadget, a new piece of furniture, a garment or a pillow, it means an expense for you. In addition to this, there are indirect costs. We will take a closer look at these here.

First, you need somewhere to store what you have purchased. The more things you own, the more storage space you need.

This in turn means several indirect costs for you. You need to acquire something to store your things in and you need to have space for this in your home. With a lot to store, you need a larger home than if you have smaller things to store.

How many do not live larger than they would have needed just because they have accumulated a lot of things?

In some cases, it may be extra rooms that are not actually used but are primarily for storing things. It can also be the size of the home, ie. that you are in need of large rooms to fit everything.

In both of these cases, it will be more expensive for you than if you chose a smaller home. In addition to paying more the more square meters you have, there are also costs for heating and in some cases cleaning.

In some cases, the home is not enough but you choose to store your things. To this, of course, are added costs every month.

In addition to this, you may have to pay for maintenance, repair and service for your things.

Last but not least, many things can lead to you no longer knowing what you own and buying duplicates.

Thats how you save money as a minimalist

Of course, the best way to save money is to refrain from using it.

In the case of the minimalist, this means that before each possible purchase, the question first arises as to whether you really need the thing.

Giving yourself some time to think is usually a good way to prevent impulse buying.

If you realize that you are in need of something, there are several different ways to go about it as a minimalist.

Is it possible to procure in another way to reduce or avoid the expense completely? Can you for example borrow from someone or rent the thing through services like Hygglo?

If you have to buy something, you can first consider buying it second-hand to save money. Use Facebook Marketplace or an honest flea market.

Make sure to take care of the things you own so that they last a long time. Then you do not have to buy new all the time and thus save money.

Earn money as a minimalist

You can not just save money with a minimalist lifestyle. There are also several ways to make money as a minimalist.

The first thing you need to do is start clearing out your stuff. It is a process and it will take time.

Some things are harder for us to get rid of than others. Take one room at a time and one piece of furniture at a time. For every thing you come across, ask yourself if you are using it or not.

Some things you know for sure that you have never used and you put these in a pile. Everything that ends up here, you should try to sell.

Be honest with yourself when cleaning. If you have not used anything in the last year, the probability is very low that you will start using it.

The exception is of course things with affection value BUT even among these you can clear. Memories do not sit in things and can be picked up at any time, regardless of a gadget.

Other things you need but use less often. You should put these things in another pile and here you should try to rent out as much as possible.

It can be a sewing machine, leaf blower, party tent, etc.

Then we come to the part where we talk about the middle ground. Hopefully, much of what you own has ended up in the other two piles and will leave your home. If the last pile is the absolute largest, you can repeat the above process after a while to go through things again.

Most people are never completely honest with themselves when they clean but “can be good to have” and “yes but I use it sometimes” usually show up.

The more often you do this the easier it will be. Your brain will get used to being more focused on cleansing and you will become more honest with yourself as you go along.

Every little steps

We often do not do things because we think the result feels poor. We find it difficult to see the whole that the small changes lead to.

The effort in that e.g. clearing out a storage room to save 50-500 bucks a month may not feel attractive.

In addition, cleaning out so much among clothes, shoes, kitchen utensils, old crockery and all the other things we own to be able to move to a smaller home means for many such a big effort that they do not think it is worth it.

But keep in mind that by going down in square meters, you may save 100 – 300 bucks a month in just housing costs.

In addition, hundreds of dollars (maybe thousands of dollars if you live in a house) in the form of reduced electricity consumption.

Smaller area is lighter and quicker to clean. You may no longer need cleaning help and save a few more bucks a month.

Reduced expenses mean that you no longer need to have the same amount of income. This in turn means that you do not have to work as much if you do not want to.

Hopefully I have inspired you to ways to save money with a minimalist lifestyle!

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This article has been reviewed by our editorial board and has been approved for publication in accordance with our editorial policies.

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