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Op-Ed: Financial tips for a minimalistic living

It is very likely that you have heard “We must achieve more with less” and, when we talk about staying productive, organized and financially focused, this can be a GREAT challenge in times where technology reigns, and our economy is a vital aspect to consider in our daily lives.

It is also very possible that you feel that you work or live in a space full of distractions, you buy many things that you do not need to then leave them beguiled, but although you want to change that behavior, the reality is that we live surrounded by mass marketing associated with consumption.

Don’t be alarmed, because if you want to start to take steps toward a simpler, organized and financially focused life, the following tips will help you evaluate minimalism as an alternative to your current lifestyle.

Tip # 1: Evaluate your possibilities
“You are not richer for having more, but for needing less.” This lifestyle is carried out by applying this quote to your day-to-day expenses, understanding that if you cannot pay it, you should not buy it. Assessing your possibilities means living under your economic reality and planning smart purchases based on your current personal budget. That does not mean that you will never get what you want or need so bad but … learn to be patient and invest more in quality NOT in quantity of products.

Tip # 2: Take an inventory of what you own and get rid of what you don’t need
Do the planet and you a great favor. Just like monitoring your expenses in a Log of Daily Expenses, it is very important to know where your money is going, to make an inventory of everything you have to keep only what fulfills you.

Understanding what brings you even closer to your goal and/or what you really need, not only will it help you integrate simplicity, focus and organization into your life, but you will be greatly supporting the planet, by selling or donating products that you no longer need, giving it a second chance of use, versus unplanned shopping and contributing to excessive consumption that affects the environment so much.

Author Myrna Vázquez is founder of Fitwallet and an expert in minimalist lifestyles, personal and family financial well-being, and financial empowerment for couples, among others.

Tip # 3: Don’t touch! Avoid impulsive purchases
Did you know that touching a product increases the likelihood that you buy it even if you don’t really need it? This is called the Perceived Value, since, when we touch an object, we begin to create an emotional connection with it that later makes the detachment process more difficult.

So, if you are walking down the aisle of any establishment, stay true to your shopping list and don’t be unfaithful, financially speaking.

Author Details
This story was written by our staff based on a press release.

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