Minimalism does more than help keep your house clean. It can improve many aspects of your life. Your finances is one of them. Just think about all the money you’ll save by not shopping til you drop. How else can living the simplistic lifestyle of a minimalist benefit your financial well-being? Let’s start by talking about taxation.
Minimalists pay less sales tax.
Buy less, pay less to the IRS. The more you buy, the higher sales taxes you pay. Sure, some purchases are tax deductible, especially if you own a business. Still, you’d save a lot more if you didn’t buy those things in the first place, wouldn’t you? That’s the beauty of being minimalist. You save tons of money in sales tax for all the items you don’t purchase.
Minimalists have lower rents and mortgages.
That’s because they typically buy or rent smaller homes. They need less space because they have less material possessions. This makes it possible to keep their rent and mortgage affordable. They are also able to take better care of their homes. Why? Well, they have the budget to do so, since they buy less. There is also less clutter in a minimalist home. That makes them easier to keep clean.
Minimalists have lower utility bills.
Smaller homes mean smaller bills. A minimalist tries their best to only spend what is absolutely necessary. They’re careful to keep the thermostat at a reasonable level. They don’t overheat, over-cool or use a lot of water. They have less trash to dispose of too, since they don’t buy as much. Fewer purchases equals less discarded packaging.
Minimalists sometimes have lower grocery bills.
A lot of minimalists are into living off the grid entirely. That entails growing and making as much of their own food as possible. They save money by supplementing their groceries with their gardens. Many minimalists also believe in eating only what they need to survive. By keeping portions reasonable, food lasts longer.
Minimalists save money by spending it wisely.
They buy less. They entertain at home more. They use only the services they need. In other words, they save money by not spending it. While others look for bargains on the items they buy, minimalists try not to buy anything at all. When they do, they buy things that last, take good care of them, repair them and re-purpose them until it’s no longer possible.
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