I just read an article revealing that, “47% of Americans would have to borrow or sell something to cover an unexpected expense of $400” !!! That is some seriously alarming information. If that wasn’t disturbing enough, the number of people who are unprepared for a sudden expense is actually higher, because the article stated that of those who said they could cover the cost, some were actually planning to use a credit card, which is also a form of borrowing. It means that about half of all Americans have no savings at all! Scary. Stressful. Sad. Unnecessary.
Minimalists retain more money
This article is a reminder that the less irrelevant stuff we buy, the more liquid capital we have available to cover unexpected expenses, or anything else we deem important to us. Less stuff more money.
The Abundant half of Abundant minimalism
When people think of the word “abundance”, they may envision a pile of material stuff, but abundance can come in many forms. We thrive when we have an abundance of options, an abundance of freedom, and an abundance of resources.
Those resources may consist of money, and they may also come in the form of other assets that are less tangible, but equally important, such as your skill sets, your good health, and don’t overlook the resource of those helpful people that care about you – your friends and family. A strong support system is a huge factor in your sense of abundance as well.
Remembering the difference between wants vs needs
If you can relate to the situation of being extremely strapped for cash, now is a perfect time to take a much closer look at your wants and needs. Thoughtfully consider each thing that you already have, as well as those items you decide to buy. Selling some extra stuff you don’t need online could clear some space in your home and put some moolah back in your pocket. Less stuff more money.
Begin to be more methodical in your process of shopping
Make lists and stick to them. Be less impulsive. Consider if you truly need it, or if it’s a transient wish. For example, you need food, but you can choose to cook an inexpensive, healthy meal at home, or impulsively grab some fast food that is not only worse for your body, but also worse for your bank account.
If you’re out and about and see an awesome outfit that you’d love to have, yet your closet back home is stuffed to overflowing, for heavens sakes stop yourself! Take 10 slow deep breaths and then walk away. If you truly need a new outfit, then it’s not an emotional and reckless urge, so you can take the time to carefully shop around. Perhaps a thrift store has the exact item you need for one tenth of the price. Perhaps you could sell some of your nice clothes that you don’t use at a consignment shop. Less stuff more money.
Making many seemingly small but wise choices like that will change your bottom line significantly.
For the second half of this discussion see Less Stuff More Abundance