As I grow older, I seem to be becoming a minimalist. This is not to say that I am living frugally, but I certainly am thinking much more about what I want to buy or what really gives me happiness. Basically, I don’t spend mindlessly but indulge in really matters to me. This has also helped in simplifying my life.
I see quite the opposite around me. There seems to be no stop to spending. Even for small events, people buy new clothes that are worn only once. There is constant peer pressure that leads people to spend more by splurging on expensive stuff – the mantra being buy bigger and buy more, thus leading to having lesser money for the things you actually need to be spending on.
Simplifying your financial life
While being minimalist has picked up in other aspects of life such as your household items, it is yet to make inroads in the financial life. Minimalism is all about decluttering and prioritizing what is valuable to you. Minimalism in finances is about simplifying your financial life and making you more aware of how your money in spent, thus, helping you cut back on excessive spending.