How a Minimalist Mindset Impacts My Financial Wellness
One of the perks of simplifying your life is that it trickles down into your spending habits. While I personally consume far less than I ever have before, that ‘extra’ money isn’t necessarily going back into my pocket. Hear me out… if we were to break down my finances, you’d see most of the savings from lowering my materialistic consumption actually flows back into experiences, travel, therapy, investments in further education, high-quality food, and longer-lasting, more thoughtful garments.
This shift has directly and positively impacted my quality of life, because I’m spending more money on brain fuel, inner nourishment, and personal development, rather than feeling caught up in the never-ending cycle of trends, impulse purchases, sales, and an overstuffed closet with ‘nothing to wear’.
Here’s how a more minimalist mindset has impacted my financial wellness:
1. I reclaimed my power.
Unlearning consumerism is hard. In a world that’s filled with “SALE, SALE, SALE” you must find your own power and confidence amongst all the noise to say no, I don’t need that. I’ve learned retail therapy is a temporary fix… and more so, just a distraction. I am now able to create my own confidence by honoring my own personal style, aligning my spending with my values, and not buying just for the sake of buying. We often tie our identity to our belongings, but I know I am not defined by the clothes on my back. I am defined by my ability to use my voice and the impact I can make with my choices. It’s a continual, imperfect practice. However, the more I exercise my ability to CHOOSE, the better my choices become, and the more empowered I feel. [Related: How to Simplify Your Wardrobe & Feel a Whole Lot Happier]
2. I’m in tune with my core values.
Being trendy isn’t my priority, but feeling good is. When you’re feeling good on the inside, the outside will follow. I value and prioritize inner nourishment over anything by investing in high-quality, REAL food. I also value stocking my home with clean, non-toxic cleaning and skincare products. I value sustainable, low-impact products and services. Whatever your values are, do what you can to align your spending habits with them. This way you feel good about where your money goes, because you’re spending and investing in what matters most to you.
3. I am investing in my future.
I have an emergency fund, a “fun money” fund, savings, retirement, and other investment accounts, but I’m still not satisfied. I’m looking into joining a women’s finance group here in Austin to decode the confusing world of stocks, bonds, and leverage more investing strategies. I respect that I need to spend money to make money, and so I care very much about building my wealth, making my money work for me, and doing what I can NOW to benefit mine and my family’s future. It’s never too early to start thinking about retirement, future travel, and to just start saving.
4. I upleveled my efficiency.
Minimalism has taught me to spend my time where it matters and do what I can to streamline the rest. Repetitive, time-sucking tasks can be outsourced or delegated. Workflows can be automated and systems can be simplified. We’ve only got so many hours in the day, and I’d rather spend my time running my biz and makin’ money rather than deep cleaning my house, so we’re budgeting for a monthly housekeeper. Outsourcing and automating might cost money, but I also acknowledge the value of my time and my energy. [Related: How I Maximize My Time as a Creative Entrepreneur]
5. I give back.
When you re-evaluate your spending categories, it opens up opportunities to spend more in other areas that matter to you. By contributing my time or money to causes I care about, I am nourishing another element of my financial wellbeing. If donating to causes isn’t your thing, you can also give back by spending your dollars at conscious retailers, picking up trash when you see it, supporting your local farmer’s market or small business, or donating your time to help an organization within your community.
As much as we may tend to shy away from acknowledging it, there’s no denying that our finances and spending habits impact our overall quality of life. Adopting a more mimimalist mindset when it comes to financial wellness isn’t about depriving yourself, or seeing how much you can do without. It’s about being intentional with your spending and circulating your money in alignment with your core values. It’s investing more in the people, things, and experiences that truly light you up, and choosing to create more abundance in the areas of your life that matter the most. This mindset has helped me get in tune with my own values and make thoughtful purchases that really bring me joy.