![]() ![]() ![]() ![]() I have written about expense tracking solutions and also have a free 2-page printable PDF you can download here. You can use a pencil and paper, apps, or online spreadsheets. There are a lot of ways to track your spending. Remember, anything beyond what you truly need is a WANT. Knowing where your money is going makes it easier to tweak and adjust to save more. Knowing your income and expenses is critical to creating a financial minimalist lifestyle because you can’t work on improving your finances if you don’t know exactly where your money is going. This means that we are happy and willing to live with fewer material possession, exercise mindful spending, and make financial choices that support our lifestyle. We want to travel and spend time together without the constraints of a traditional job and money worries. What’s important to you? What do you want your life to look like? Knowing your values makes it easier to make financial decisions that align with them.įor us, it’s the freedom to pursue our passion, experiences, and together as a family. The first step to financial minimalism is understanding your values. It’s about making time and space in their life for personal growth while saying “no” to consumerism and investing in things that will afford you the freedom to pursue your passion.Īfter all, when you know the value of your time you know how important it is to spend it on things that matter – every second counts! 7-Step Guide to Financial Minimalism 1. A financial minimalist applies the principles of minimalism to their personal finances, allowing them to spend less, save more, and be more intentional with their money.Ī financial minimalist strives to put money towards the things that they value or love doing, and remove the non-essential. In this blog post, I will share the seven simple steps to becoming a financial minimalist with you and how they can lead you to a richer life! What is financial minimalism?įinancial minimalism is living intentionally but not cheaply. On the other hand, my husband and I have always stuck to our frugal values, which allowed us to pay off $250k in family debt.Īfter selling everything we owned and moving to Europe with eight suitcases, we finally purchased our dream home and settled into a life we love – and sticking to a minimalist budget and being intentional with our spending is what got us here! So, where does their money go? They spend it on expensive sports cars, lavish dinners and daily take-out lunches, oversized McMansions, and everything they think they need to feel successful and happy. A recent study supports this, saying that 33% of people making $250k or more each year are still living paycheck to paycheck! There are plenty of people who make high six-figure salaries but still can’t manage their finances well enough to save money. You might feel like you never have enough money, but a fulfilling life doesn’t necessarily depend on how much money you make. But, what can you do when you have bills to pay, mouths to feed, and you’re barely making ends meet? ![]() No one enjoys living from paycheck to paycheck. It’s a method of fusing personal finance and a minimalist lifestyle in perfect harmony so that you can lead a happier and richer life. Financial minimalism is a growing trend for people who want to simplify their lives and free up their time and money to focus on what’s important. ![]()
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