Financial minimalism goes beyond spending little; is a philosophy based on the idea that “less is more”, promoting simplicity and focusing on what is essential to achieve a satisfying life.
Originating in artistic disciplines such as painting, sculpture, music and architecture, minimalism emerged as a reaction against overloaded forms of expression, emphasizing structural simplicity and economy of resources. This movement transcended art and influenced styles of behavior that seek to reduce the superfluous and focus on the basics.
From a philosophical perspective, minimalism invites simplicity and efficiency in all aspects. It advocates eliminating distractions and focusing on what truly matters, prioritizing experiences over material possessions and fostering a deep connection with oneself and the environment.
In the financial field, minimalism is a way of thinking and living that reflects on what we really need. It does not mean always being deprived or giving up comfort, but rather eradicating the idea that accumulating material goods will make us happy.
Many find that by reducing the number of items they own, they spend more time on relevant experiences, such as sharing quality moments with family or investing in their personal well-being. In an age dominated by consumerism, this approach tries to move us away from buying the latest version of any product and rethink our priorities.
Embracing financial minimalism to its extreme isn’t for everyone, but it inspires you to strike a healthy balance. The goal is for money to stop being a source of stress and become a tool for a full life.
It invites us to analyze consumption patterns, questioning whether what we acquire brings us value. It includes canceling useless subscriptions, stopping impulsive purchases and freeing ourselves from the pressure of always having what’s in fashion.
Simplifying also means reducing the number of accounts or financial products. Automating essential payments and savings avoids forgetfulness and temptations, ensuring that we allocate funds to what is important.
Lowering expenses allows us to reduce and even eliminate debt, creating a cushion that gives us the opportunity to plan important events, such as changing jobs or moving.
Do you dare to adopt a minimalist approach to your finances? Comment me on Instagram: @atovar.castro and follow me in the podcast “Money and Happiness”, on Spotify, Apple Podcast, among others.
