Exercising the body is not enough to lose weight, one must cut back on the diet or consumption of food. Similarly, in order to stay financially secure amidst growing inflation & a volatile job environment, investing in promising financial avenues alone isn’t enough one has to cut back on one’s lifestyle. That is where minimalism plays an important role.
Purchasing less stuff, decluttering, choosing quality over quantity-these are some aspects of minimalism.
A minimalistic lifestyle focuses on getting perspective, prioritizing finances. Spending for what you think you really need rather than for something you want. Focussing on paying off debts, saving for retirement, making safe investments which will ensure financial security are some of the things one can do.
Once you determine how you want to save your money, you will be able to regulate your purchasing patterns as well. Are you paying for a gym membership which you are not using? Or maybe a subscription channel or magazine which you are not watching or reading? Cancel such memberships and use that money for things you need on a permanent basis, like a renovation or buying some furniture.
Decluttering your life starts from your living room. Sell what you don’t need or even better donate them to the needy. Decluttering will help you evaluate your purchases better.
Don’t allow bills to pile up. E-statements & autopay facilities will help you manage your bills instantly. Autopay is the best minimalistic approach to money management.
