What is Money Minimalism?

When people think of minimalism they often think of super frugal people who cut corners in every single possible way. Some may even think of it as a fad or a trend; however, minimalism, from a financial perspective, is more about spending your money on things that truly matter to you. And that never goes out of style. So how exactly do you save money with minimalism?

Here are 3 steps to getting there.

1. Identify your core values

Identifying your core values means clearly defining the things that matter most to you. This is an important part of succeeding with minimalism. Why? Because when your core values are defined, it results in living with and wanting less. Once you've determined the things that truly matter to you, you can align your spending and your focus accordingly.

Identifying your core values means clearly defining the things that matter most to you. This is an important part of succeeding with minimalism. Why? Because when your core values are defined, it results in living with and wanting less. Once you've determined the things that truly matter to you, you can align your spending and your focus accordingly. For instance, if you want to take an amazing trip once a year, then one of your goals should be saving towards your yearly dream trips. Focusing on that as a top priority while other non-core values fall to the side will be second nature. You have a goal now!

2. Declutter

If you haven't ever tried decluttering, then you should. It helps you get rid of the things you don't need (part of what minimalism is about) and allows you to live with less. You can also make some extra money to put towards your core values by selling the things you no longer use. In addition, you'll also be spending less to store, clean, and maintain these items - which also means more money in your pocket. Now who wouldn't want that?

3. Be intentional with your spending

Keeping a spending journal to help keep you conscious of your spending is a great way to ensure your spending is aligned with the core values and goals. It also helps to curb frivolous spending and stay on track. Remember, the whole point of minimalism is to spend your money (and time) on the things that matter the most, and to live more purposefully. Much like a dieter tracking calories, journaling your spending makes you face the realities of your spending.