Are you tired of too much stuff in your life?
Not only is clutter unattractive, but studies suggest it can cause us mental strain and stress.
Minimalism is one of the latest trends among consumers that encourages cutting out anything that isn’t absolutely necessary. When applied toward your personal finances and spending habits, this mindset has the potential to save you hundreds, or even thousands, of dollars per year.
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What is a Minimalist?
The term “minimalist” carries a different meaning for everyone, but it boils down to simplifying your lifestyle and only buying things you absolutely need. Regardless of how or where you choose to apply it, those who have successfully figured out how to be a minimalist will see significant benefits in the long run. In the infographic above, we share five steps you can take to become a minimalist. We’ve highlighted a few here.
Building a Capsule Wardrobe
Having too many clothes is a common source of clutter, and building a capsule wardrobe is one way to eliminate this problem. There are many different approaches you can take when considering how to build a capsule wardrobe. Courtney Carver, the blogger behind Be More With Less, started a challenge called Project 333 where she used only 33 clothing items for three months.
Obviously, you could choose to have more or fewer clothing items and update more or less frequently. What’s important here is that you learn how to get rid of clutter in your closet and lessen the impact on your bank account. Not only is this a great way to embrace minimalist clothing, it reduces your overall expenses, too.
Mail can pile up fast. By choosing to pay your bills through our free Bill Payer service, you’ll keep the clutter to a minimum and save money by not having to pay for stamps each month.
To rid your home of even more paper, clear out your stash of outdated coupons and use coupon apps on your smartphone instead, or sign up for electronic coupons delivered through email.
Simplifying Your Home
Take time to sift through your belongings and only keep items that you can’t live without. It can be overwhelming to downsize, so focus on one section at a time. Mark your calendar to tackle one room each month.
Afraid you might need an item later? Box it up with the name of the room on the box. Donate any items left in the box after two months to a local charity.
Find more money management tips and resources on our WalletWorks page.