The Minimalist Budget: 20 Simple Tips to Help You Save
Have you ever felt life is a constant cycle of money in and money out, and youâre never getting ahead?
The easiest way to stop that cycle is to slow the whole âmoney outâ thing, right? Obviously you canât stop spending money altogether and youâre probably not even spending all that much money on big-ticket items, either.
Instead, focus on all of those tiny little purchases, the small-ticket items that donât take much thought at all. Itâs called unconscious consumerism and it is the ultimate hemorrhage of money.
Donât believe me?
You can see the consequences of your spending piling up in the corner of your garage. Wouldnât it feel good to relieve yourself of heavy workloads, while also saving money? To relinquish your spending habits, to put a little pressure on that gaping (spending) wound.
Iâm here to tell you that this is all very achievable.
A minimalist lifestyle can help you cut costs without it feeling like a sacrifice. Minimalism reduces consumption and ultimately impact on the planet.
Frugalism: Donât Let It Scare You
cheap living
The word âfrugalâ often makes people think of words like meager, scanty, skimpy, or insufficient.
It makes people think they have to give up their social lives and all the little things they enjoy in life. If thatâs the case, you might as well live in a box! (donât worry, itâs not like that). The decision to live frugally can hold negative connotations, but Iâd encourage you to challenge this. Donât allow thoughts of frugal living produce pessimistic doomsday scenarios in your mind.
View living frugally as a path to freedom. Itâs a way to be free from materialism, to have the privilege to reduce your impact on the planet by making conscious choices about how you live your life.
Frugalism isnât to deprive yourself. In fact, living cheaply will free time and money you may not have had previously. Because ultimately, the less you spend, the less you need to earn.
Limit Consumption, Limit Repercussion: Why Frugal Living Will Save The Planet
When you live frugally, you not only pay off debt and save money, but you also help reduce overall consumption and impact on the environment.
And you help shape the way others consume, too.
We all consume on some level, so why not look at it as an opportunity to shape the way the world is. By choosing to live frugally and to reduce your consumption, youâre telling businesses to stop producing so much waste. Honestly, look around itâs already happening on so many levels.
Go to any local grocer, big supermarket chain, small cafe or big restaurant and the proof is everywhere. From the plant-based foods, organic produce, coconut milk lattes, stainless steel straws, and compostable packaging, we, as a collective, have demanded this and gotten exactly what we asked for.
The power we have is inspiring. A vote with your wallet reshapes our world and curtails our impact upon the natural environment. So what can you do on a personal level to start saving money while saving the planet? Here are some great tips to get started.
The Minimalist Budget: 20 Simple Tips to Reduce Spending
1. Sell Your Car
Seriously, cars are expensive. Registration, insurance, gas, maintenance... it all adds up quick. Public transport, if available in your area, is a great way to get around. Commuting in any form reduces carbon emissions. Plus, itâs cheap and frees up time to catch up on a book, make a journal entry, or get ahead on some work. I understand some of us have kids and this makes things harder. Even still, many families have multiple cars. Why not reduce to just one or two?
2. Walk Or Ride
Even if you own a car, why not save some gas and walk or ride to your destination. Small car trips can be replaced with an easy-going stroll and your morning commute to work is a great opportunity to jump on a bike. The exercise will keep you in shape and youâll start looking forward to a morning ride. Instead of starting your day with stressful traffic, walk through your office door with feel-good hormones pumping through your body, all while reducing your carbon emissions and helping the planet.
3. Exercise For Free
Perhaps cardio isnât the only area of your fitness you work hard at keeping primed. A bit of yoga or strength work is called for. There are heaps, and I mean heaps of free online yoga and calisthenic classes online. No gym equipment? Why not walk, run or ride to a nearby outdoor gym? Or even, constitute a chin-up bar with a tree branch or balcony railing? Less effort to get to a workout, more time to get fit.
4. Maintain Your Health
Health care is extremely expensive. Dentists, doctors, hospital bills and medication donât come cheap. Keeping fit and healthy is an easy way to reduce your spending, eat healthily and exercise. Simple and effective.
5. Reduce Substance Consumption
Coffee, alcohol, and cigarettes are all expensive habits. Donât get me wrong, itâs not always easy cutting back or stopping your vices. The thing is though, the less stress you have in your day to day, the less inclined you are to reach for a beer or a cigarette. Less stress, less substance consumption, better health, more money in the bank.
6. Drink Water
Drinking soda, coffee, alcohol, juices, or the fancy drink at your local cafe is hardly worth the extra cash. Youâre basically spending money to add calories to your diet. If you really like something bubbly, why not brew your own kombucha or kefir?
7. Eat Less Meat
Meat is expensive compared to plant-based alternatives, both for your budget and the planet. Iâm not trying to say you need to be a vegetarian or vegan (but by all means, you could always give it a try). At least once in a while though, try eating a meatless meal or reducing your meat consumption to just a few days a week. It is a lot more environmentally sustainable to produce and consume plant proteins compared to animal proteins.
8. Eat Out Less
Eating out is great, donât get me wrong. Trying new cuisines and new flavors is always an amazing experience. Nevertheless, it is expensive. The average American spends over $2,000 per year on eating out. Treat yourself of course, but maybe use the new flavors as inspiration to get into your own kitchen. Try replicating some of your favorite cafes or restaurant's best menu items.
9. Curb Online Impulse Purchases
Itâs so easy to spend money now. Anything you want is literally at the end of your fingertips. You can be hanging out on the couch at home and still spend every penny you have. Donât get me wrong, this is an area where I save a lot of money. Online shopping is normally much cheaper than spending your money in a store. The problem, though, is that it can sometimes be hard to limit purchases. A great way that I found to stop over-purchasing was to ask myself this simple question: âIs this a want or a need?â I quickly realized that most of my online purchases (and offline purchases) were simply wants, not needs. Needs are something I actually require, not something to stem my boredom.
10. Cut Out Unnecessary Subscriptions
In the age of technology, there are so many sources of entertainment out there. Netflix, Hulu, Spotify, HBO... whatever it is, maybe itâs time to reassess whether or not you need to be leaking money out to all those subscriptions. After all, there is often a free or cheaper alternative out there.
11. Use The Library
I donât know about you but books get me all the time. Instead of purchasing books, why not borrow them from a local library? It costs you less, saves cutting down more trees for paper, and reduces carbon emissions in the production and delivery (especially if you walk or ride to the library).
12. Buy E-books
Some books are must-haves, I get it. Old classics or new favorites sometimes a reread is inevitable. Why not grab it as an electronic version instead? Often it is cheaper to purchase, and again, no trees will be harmed in the making.
13. Reduce Convenience
Convenience items or services are an area where you can save a lot of money and, as usual, save plastic packaging or reduce emissions. Plan ahead: donât pack so much luggage, bring your own food with you or wash your car in the backyard. Simple little ways to keep your cash for you and not in someone elseâs pockets.
14. Declutter
Sell your clutter. Make back money on items you donât use anymore. Itâs pretty crazy what people will buy. Why not try an ad on Craigslist, Facebook Marketplace or eBay. Also, the more second-hand options that people have, the less likely they are to buy new products in-store or online. More cash in your pocket, less clutter to trip over. Sweet!
15. Limit Credit Spending
The average Americanâs credit card debt is over $5,000. It never feels good to owe money. Credit simply encourages you to spend money you may not have. It makes buying too easy. Donât make this mistake. Reduce your spending and free yourself from debt and consumerism.
16. Reduce Phone Costs
Do we really need to be connected all the time? Every single second of every single day? Probably not. Reducing your phone usage will save you money, reduce power consumption and reduce your screen hours. Whatâs good for you is normally good for the Earth.
17. Change Your Relationships With Fashion
This is a bit more complicated, but fast fashion goes beyond reducing your personal costs. Itâs a vote in the right direction socially and environmentally. This doesnât mean you canât still kill a fashion statement. Second-hand clothing is becoming a massive trend, thrift shops and second-hand stores are a big deal and often have pretty trendy items. Find something to freshen up your style, while saving money and cutting that consumption back another peg.
18. Reduce Household Costs
Saving electricity, gas, and water are all great ways to save money and reduce environmental impact. Sundry your clothes, flick off or dim the lights, turn down the heater or take shorter showers. These are easy ways to reduce household costs while reducing the need to burn coal or waste water.
19. Do It Yourself
Instead of hiring someone to fix or build something, why not learn to do it yourself? Take a course at your local community center or try out WikiHow, Udemy or YouTube tutorials. Maybe ask a friend or family member who may know more than you. Sure it takes more time and effort, but costs less and is super satisfying!
20. Reduce, Reuse, Recycle
Most of these tips have really been about reducing and reusing, but how about recycling? Itâs another fairly simple act to reduce your impact, you can also make a little cash as well. Most areas have a local entity that will buy certain recyclables. Old laptops, batteries, and electronics can be recycled as well. A local store near me promises to recycle up to 98% percent of the parts from my unwanted electronics. Put that in your reusable stainless steel straw and smoke it!