Five Things Living On A Minimal Budget Will Do For You

May 4, 2016

If you've ever thought about living on less or leaning towards a more minimal budget and lifestyle but haven't taken the plunge yet, this post is for you. Living minimally will literally change your life for the better and I wanted to share with you guys what exactly living on a minimal budget will do for you!

Minimal living is something I’ve been doing for years now, at first without really realizing it! I’ve kept my spending down significantly under the amount of income I make and am able to save so much more because of it. I truly believe that minimal living is the way to create more freedom for a more awesome life! I’m determined to teach others why they should do it, and how!

Minimal living is something I’ve been doing for years now, at first without really realizing it! I’ve kept my spending down significantly under the amount of income I make and am able to save so much more because of it. I truly believe that minimal living is the way to create more freedom for a more awesome life! I’m determined to teach others why they should do it, and how!

So without further ado today’s post is talking all about what living on a minimal budget will do for you!


Five Things Living On A Minimal Budget Will Do For You

ONE // HELP YOU TO SPEND MONEY ON WHAT YOU REALLY NEED OR WANT

When you start to minimize your spending on the unnecessary, you automatically start spending on the things that are more important to you. Usually those things fall into the category of needs with a few wants sprinkled in. A lot of times our spending can get a little out of control without even realizing it. We begin buying things for reasons other than we need or want them. We buy for reasons like, “It was on sale!”, “I don’t have one already.”, or “So-and-so loves hers!” These reasons do not say, “I want or need this item and therefore am going to buy it!”. When you start cutting back your purchases with a minimal budget you stop buying the junk you really are not interested in and you start only purchasing things for a purpose that you want!

TWO // ALLOW YOU TO SAVE DOUBLE WHATEVER YOU’VE BEEN SAVING OR MORE

When you live minimally the goal is to lower your cost of living significantly! If you keep making the same amount of income while living off way less you are able to put double the amount into your savings every month! This allows you to significantly increase your savings in a much shorter amount of time. Depending on how minimally you are willing and able to go this number could become huge. At one point Greg and I were making a little more than usual while still living minimally and were able to save over $1,000 every month for a period of time. Living minimally allows you to buy what you need, and save a lot of extra money for a future you want!

THREE // SIMPLIFIES YOUR LIFE BY SIMPLIFYING WHERE YOU ARE SPENDING YOUR TIME AND MONEY

When you spend your money without really thinking and at the end of the month are constantly asking, “Where did it go?” it gets complicated really fast. When you have created a budget, and minimal one at that, you are already aware of how much money you need to live, how much money you will spend this month, and where all of it will go and what it will be spent on. This kind of living takes the stress away of not knowing and allows you more time to relax and enjoy the life you are creating, instead of wondering how you are going to pay for it!

FOUR // ALLOWS YOU TO REEVALUATE YOUR PRIORITIES AND VALUES

Once you start living on less is when you realize that you actually can live on less. We have tricked our minds to think that we need more of this and that in order to have a fuller life. The truth is we need our basic needs taken care of, and then the ability to enjoy having a few other things. When you get back to your basics and try to live more minimally you start to realize what you actually value and what you want to spend your money on. You start to see the things that you prioritize more than others and you start to wonder why you even put your time and money into those other things.

If you only have a certain amount of money to spend on non-essentials, whatever you end up spending that money on is what you value over everything else. You’ve chosen to put money into that rather than anything else. Minimizing your purchases allows you to reevaluate what exactly your priorities are and if your money and spending are reflective of that!

FIVE // LETS YOU HAVE MORE FREEDOM IN YOUR TIME AND WORK

My favorite reason to live on less, and one of the reasons I’m passionate about it is because of the more time and freedom it allows you. When your cost of living is minimal, your income can be minimal. I’m not saying that the benefit of living minimally is that you get to quit your job, but you certainly aren’t tied to it in all aspects.

You have already saved more money by living minimally, and you have learned how to live on less than what you make, so if you need or want to take an extra day off you can because you are not dependent on ALL of that money to live. You don’t have to work over 40+ hours every week and you don’t have to take every promotion so that you can get every raise with it!

You have the freedom to choose how you spend your time! If that means taking a day off to hang out with your family, great! If that means continuing your regular working schedule so you can save more money for a vacation, awesome! Whatever it is, you get to choose! Living minimally does that for me, and can do that for you too!

Now, go challenge yourself to start living minimally!

Lydia

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