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How to Save Money Effectively By Having a Minimalist Lifestyle

It seems that these days, everyone is talking about a minimalist lifestyle. From tiny homes, to possessing less stuff, to even minimizing the dependency on money, a minimalist lifestyle is very attractive to folks looking for a change. But how about saving money? It seems many assume that if you go minimalist, you automatically save tons of money. The reality is, the savings and budgeting changes. Today, I want to share with you how to save money as a minimalist![1]

Budgeting Until You Cannot Budget Anymore

Budgeting is key to saving money, no matter what kind of lifestyle you wish to have! Planning out your needs and having a clear picture in your mind about the road to savings is going to be your best friend. It’s a typical budget, just like anyone else. A focus on meeting your needs:

  • travel expenses (gas, cab, bus)
  • rent/mortgage
  • utilities
  • food
  • clothing
  • healthcare
  • Toiletries & body care
  • Entertainment
  • Savings

Minimalist attitude is that you don’t use more than what you need. This budget can also help you figure out how to minimize your spending and making your savings bigger.

If you decide to ride a bike for transportation then you avoid spending on anything other than bicycle and bicycle maintenance. If your rent or mortgage is a big chunk of your money, look to a tiny house! Which means getting rid of a lot of “stuff” since you will have limited room (hello yard sale!). Even food can be minimized by growing your herbs and vegetables, rather than purchasing them in store.

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