My husband and I planned to go to Italy for our first anniversary. We ended up spending the day at the lake nearby and having a delicious dinner at home.
That wasn’t because we couldn’t afford to go to Italy. It was because of, well you know, the worldwide Pandemic.
As I relaxed on the porch watching the sunset I thought about that trip to Italy and I know we will take it one day because our finances are in order. In fact, we have no debt at all. Not many couples can say that.
We enjoy this debt free minimalist lifestyle because we have learned how to live minimalist and save money while enjoying a really full and satisfying life. The minimalist lifestyle can do that for you too so stick around and learn how to live minimalist and save money in 6 great ways!
How to Live Minimalist and Save Money
- Be very strategic when going to college and get all the financial aide you can.
- Drive a used car.
- Choose smaller, cheaper housing.
- Don’t buy random junk.
- Save money for unexpected expenses.
- Use some savings to have fun and take trips!
How to Live Minimalist and Save Money With EARLY CHOICES
Our very early choices can have a huge impact on our finances and whether we save money or go into debt.
Did you know the average 18-23-year-old today has a debt of $9,593? That of course means that some young people have a much higher amount of debt but it also means that some young people have very little or no debt.
What makes the difference between young people with tons of debt and those with little or no debt? Well, what are the two main causes of debt for young people? College and cars.
My husband and I were both applying the basic ideas of financial minimalism in these two areas before we even met or thought of minimalism.
Saving Money on College
We were sparing with our college, only taking courses that took us down a defined road to a goal. Entering college we knew our reason for going. We also sought whatever financial aid we could so that we didn’t incur long-lasting debt from college. We were very careful about what classes we needed and we didn’t pursue a degree just to say we had one.
If you are at the point in your life where college is a consideration can you give it a more targeted approach? Consider focusing on a specific skill or degree before pouring money into the business of college. That will save you tons of money in the long run!
Saving Money on Cars
As for cars, we both started out with junkers. I changed cars twice but each time carefully bought within my savings.
Today I see many young people starting out with a brand new or almost new car. I would encourage them to save themselves from a huge car payment. They can pay their dues with an older, less desirable car. Why would they want to do that? Because all those payments could be money in your savings account. When you have savings instead of payments you have financial freedom and flexibility, two things you need more than a fancy car.
None of us NEED a brand new car at all times. We should always consider whether we want to take on a payment that is at the edge of our means instead of well within our means. Remember the higher the payment the tighter your finances will be. Wouldn’t you rather save money each month?
How to Live Minimalist and Save Money on Housing
Minimalism has helped us with our finances in another big way. When my husband moved here from California I secured for him a 300 square foot studio apartment. The rent was cheap and that’s what we needed!
Three months later her proposed. About an hour later he told me we better look for a bigger place to live when we were married. I told him we could try to stay in the apartment for a little while. When we married I moved from my room in my parents’ house to that little apartment. I had to simplify even to do that!
Can you imagine starting out very simple like that? Many newlyweds feel like they need to rush right into the perfect home. This may mean a mortgage or rent that is a bit higher than it needs to be. Living on the edge of your budget means it is harder to pay for unexpected things like hospital bills or car repairs. That will only lead to stress and even fights.
Think about living a smaller humbler life and making it work for you. When you learn how to downsize your life and save money on housing it not only loosens up your finances but it also encourages teamwork and reduces stress in the marriage!
The average American between 24-39 has a debt of $78,396. We have no debt at this time. I know our housing choices have made a huge impact on that.
We are so glad that we started simply and learned how to live minimalist and save money. It all started with that little studio apartment.
Be a Debt Free Minimalist Who Buys Less Junk!
Our little apartment taught us how to live minimalist and save money in the big parts of life. But iit also taught ME how to shop like a minimalist!
We had our wedding and we got tons of gifts! We had almost all the essentials and lots more for the kitchen!
Still, my nesting instincts set in. I was looking for ways to feather my nest or dress up my home. Thankfully I took a good look around first. If I got more where would I put it? Did I really need anything else?
I learned to shop thoughtfully. I learned the 8 questions you should ask before you buy anything. And as I looked around my apartment I realized that if I bought something I would have to throw something else away.
Whether you live in a small space or not this is important. Learning to buy carefully, will help you to save lots of money. When you start shopping thoughtfully, like a minimalist, you also stop filling your house with junk. That will also remove you from the cycle of wanting a bigger and bigger home!
Minimalism and Saving Money for Unexpected Expenses
When you learn how to live minimalist and save money you will start having minimalist finances that are easy to keep track of. That’s when something amazing will happen!
You will find that not only are you becoming a debt free minimalist, you are also slowly storing away savings! Yes savings! And having money in savings is always a good plan because life is full of unexpected and not so fun expenses.
When you have money in savings you will feel more secure when unexpected things happen.
In our married life we have had 3 hospital visits without the benefit of insurance. One of those included a 30,000 air care flight. We have also had our fair share of car repairs.
Fortunately, our minimalist finances have helped us to always have a good cushion in savings to help us with payment plans or outright payments. We also took full advantage of programs to help us pay (or not pay) our medical bills.
Wouldn’t it be great if you could have financial flexibility for unexpected expenses? That would mean a lot less stress when they do pop up. This is possible! Just start shopping like a minimalist and keeping your major expenses like mortgage, rent, and car payments under your means. That’s how to live like a minimalist and save money! Like, LOTS OF MONEY!
Learn How to Live Minimalist and Save Money So You Can Have MORE FUN!
Let’s not forget the best part! Minimalism and saving money isn’t all about the serious stuff. When you learn how to downsize your life and save money you will have more money for vacations, movies, concerts, hobbies, adventures, and whatever else you would like to enjoy. You can collect experiences instead of things!
You will also be able to save money every month. Your savings can grow enough for a down payment on a first home. Or, maybe you won’t need to own a home. After all your not drowning in stuff! You could actually use some of that money on guilt-free fun for your family!
I hate to say it but many times when we invited our other married friends to a movie or a dance class they were tight on funds and couldn’t join us. Has that ever happened to you? It doesn’t have to!
We don’t have amazing jobs but we have always felt the wiggle room to go to the movies or a concert or dinner out because of our minimalist finances. That’s not to say that we do this stuff every weekend but our finances haven’t held us back from going when we wanted to.
We have also been able to go on some nice vacations since we have been married. Considering I work less than part-time I would say that going to Washington, Alaska, Dominican Republic, Mexico, Roatan, New Orleans, New York, Canada, and several parts of California several times is pretty good for our first 10 years of marriage!
When and if the Pandemic ends, we have been saving money for more trips! I am definitely looking forward to finally eating pizza in Italy! And I will be doing that as a debt free minimalist! That’s a good a reason as I can think of to learn how to live minimalist and save money!
When You Learn How to Live Minimalist and Save Money It’s Life Changing!
So to round it up I want to emphasize the fact that being a minimalist doesn’t mean you’re going to have tons of extra money. It isn’t going to do anything magical.
However, minimalism and saving money goes hand in hand. If you learn how to downsize your life and save money you will will probably become a debt free minimalist with saving in the bank and a lot less stress in your life!
Trust me when I say minimalism and saving money will make life a lot more fun! You will have less stress and more time to do the things you love with the people you love to do them with! Isn’t that what life is all about?
How do you think minimalism could save you money? What would be the best change it could make in your finances? Please share in the comments below!
Why Not Start Minimalism Right NOW?
There is really no reason not to learn how to live minimalist and save money right now! This is the time to try the minimalist lifestyle!
Learn why minimalism is good for your mental health and relationships, how it can transform your finances, so you can start having more energy and time for the things that matter!
But what if simplifying your life sounds like an overwhelming task?
If you want to simplify your life but the big bad word MINIMALISM scares you let me help! I wrote Doable Simplicity (Minimalism For Normal People) to help you get the inspiration you need to simplify your life and then take solid steps that make simple living doable for you!