My Minimalist Approach to Combat Consumerism
The secret to achieving financial goals and ideal space
In a society where capitalist consumption reigns, merchants always develop a dazzling array of products, hoping that consumers will purchase more and spend more. However, after attempting a minimalist lifestyle, I discovered that every item I have bought poses a large burden on my financial goals or ideal space.
In this article, I will share some insights I have gained in the process of combatting consumerism and pursuing personal financial goals and ideal space.
Three secrets to achieving financial goals
(1) Saving money requires setting goals
I have been working for several years now. Because I am only required to pay for my own living expenses and don’t even need to pay rent, I actually have a pretty good life. If there is still a surplus of money in the account after bills are paid, I like to purchase new clothing, invest in a new mobile phone, or sometimes even buy a luxury bag worth $3,000 USD. Though I am not considered rich, I live my life comfortably.
I came to understand that the reason I spent excess earnings was that I had not set a goal of saving money. If I had established a clear goal for saving money, I would know that buying a luxury bag would lead me far away from my financial goals.
In addition, if I had identified what dreams I could pursue with my saved money, it would have motivated me to live with less in the present. As a result, it’s important to set tangible goals when saving money.
(2) Monthly accounting method
I have always used and recommended the “monthly accounting method.” On the first of each month, I record the holdings of various banks, stocks, and other assets to calculate the total net value of current assets. This simple and objective observation permits me to clearly grasp my financial status.
Additionally, I also engage in daily accounting. However, I believe that accounting should operate with the principle of grasping the big and letting go of the small. For example, I only choose to document expenses larger than $6, since these minor expenses have little impact on my overall financial situation. In my personal experience, investing time and effort to keep track of trivial accounts also causes me to accidentally miss larger expenditures, so it can be beneficial to concentrate solely on large expenses.
(3) Create and adhere to a budget
However, tracking account spending can only demonstrate that I care about money. It does not necessarily mean that I am electing to save more money because I can always find various reasons to spend money as I please. What allows me to save more money over time is creating a budget.
The purpose of creating a budget is to curtail unnecessary spending each month for short-lived pleasures. Impromptu excessive expenses as a result of dinners or travel can also be avoided with a budget. Such expenses should be planned in advance. By sticking to the budget that I create, I can allot some money to short-term indulgences while simultaneously saving for the future.
Three secrets to achieving the ideal space
(1) Discard items that are no longer needed
The minimalist life involves living in the present, which suggests that I shouldn’t be too attached to the past or concerned about the future. Each moment should be comfortable and enjoyable, so unnecessary items that are no longer needed can be discarded or donated. Though some may consider discarding those items to be wasteful, I find that discarding them allows me to cherish my remaining possessions and limited space. Doing this permits me to live in the present.
After purging my possessions of unnecessary objects, I stopped relying on objects to serve as memories or symbols of prosperity. I instead focused on preserving money, which could genuinely guarantee the quality of my life. There are many minimalist videos that I highly recommend on Youtube for those interested in learning more.
(2) Gather similar items and then sort them individually
While sorting items such as clothes or books, it is highly recommended to gather everything in one place initially. Since I often store items in various places and forget their existence, this is an important step prior to discarding unnecessary possessions.
After relinquishing items I no longer need, remaining possessions should be stored using an organized method, such as categorizing items like hats, underwear, trousers, and coats, and storing them in a single location. This ensures that I can easily locate these items in the future, which aids a minimalist lifestyle.
(3) Items must have a total amount of limits
For items such as books, I often buy them, but rarely discard them. This leads to countless books on the bookshelf that have gone unread for a long time. Due to overcrowding, books that may be presently helpful are unable to get a good position on the bookshelf.
Consequently, tangible limits should be set regarding possessions like books, clothes, bowls, and dishes. Every time a new item like this is purchased, one of the older items should be discarded or donated. Also, make sure to reserve some cabinet space (roughly 30%) to allow for some breathing room.
Conclusion
I believe that I could benefit from more robust savings and uncluttered space, but the capitalist consumer mentality has taught me to blindly value the number of material possessions that I have and associate it with happiness. As a result, I forget my long-term goals and plans.
I hope this article can enlighten some individuals who have been lost within a capitalist society. Material possessions cannot make us happier; only spiritual fulfillment can enrich our lives.
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