Nathan Baller on How Living as a Minimalist can Help Financially

We are living in stressful times. The average American must worry about environmental issues, an uncertain economy, and hostile international relations. All these burdens are affecting the way we live and act. Many people feel helpless. What can one person do, after all, to save the environmental or bring about positive change? There is one thing that everyone can do to combat the stresses we are all feeling. Live more sustainably and minimally. Be more aware of your consumption. Scrutinize your purchases. You will save money, waste less and feel more in control of life. You will also begin to play a larger role in combatting our social issues rather than contributing to it.

PURGING

A common first step to living a more minimal, sustainable lifestyle is to purge your belongings. Go through your home and decide what you can live without and put that in a pile. After you have your giveaway pile, you can decide what you want to do with the items. Donate some to a local nonprofit and sell some online. There are a lot of great apps that making selling your old stuff nice and easy.

SPACE

Since you will have less clutter in your home, you should think of downsizing. Renting a studio apartment rather than having a one or two-bedroom apartment can save on your rent. If you don’t feel like renting an apartment or studio, tiny homes and the “vanlife” have become viable options. Whichever downsized lodging you choose, you will save more on the cost of utilities since there is less space to cool or heat up.

BUDGETING

It is easier to budget when there are fewer expenses. If it is possible to get rid of extra expenses such as cable, phone, or your car, you can cut down your monthly bills dramatically. If you need cable, your phone, or transportation, look into alternatives to cutting down costs. You could decrease your bills by not having a cable package and only having to pay for Internet. It is cheaper to pay for Netflix than it is for months of cable television with hundreds of channels you probably don’t even watch. Phones are important and daily use in our lives today. Go for a cheaper phone plan and also a cheaper phone. Having a simple flip-phone with minutes and texts can decrease your expenses. If you have the option of using your car less or even getting rid of it altogether, look into alternative means of transportation. Ride your bike to places, take the bus, or ride the train. It won’t only affect your bank account but also help the environment.
These simple changes to your life can help your financial situation immensely and provide a greater sense of purpose and security.