Embracing a minimalist life has a lot of benefits. Since the beginning of the year, I have adopted this approach to living my life. The following are the positive things I have seen:
I am healthier since I don’t spend much on food. Instead, I go to the gym more often and also run outdoors and bike. My BP is 100/60 with a resting heart rate of 60. Not bad for a 53-year old guy,eh!
I don’t spend money unnecessarily buying lunches from the food court
There is less food being thrown away since I try to buy as much
I am more conscious about the sufferings in this world, especially where there is famine
Besides working full-time, I also teach part-time at a local college, which also gives a different perspective in life. I am also more empathetic towards the plight of the less fortunate part-time lecturers during the current college strike.
I have been known to salvage items during garbage days in affluent neighbourhoods. I found replacement parts from my BBQ stove, a computer desk and a chair for my daughter’s apartment
I use the ATM machine less since I spend less. Also, I have cancelled more than 5 credit cards to avoid the urge to spend
I am more content since I don’t have to worry about not being able to survive in this materialistic world
I hardly shop for clothes anymore
I am saving more money each year ,which is a plus since I have already achieved financial independence
I also try to surround myself with like-minded individuals who also embrace living frugal
I don’t yearn for the new Lexus RX350 with the dual exhaust that I have always wanted. Darn, I could pay cash for the car and get $5,000 back. But No, my 5 year old RAV4 still runs very well
Instead of keeping up with the Joneses, I am trying to 'keep down' and spend less than the Mr. Money Mustaches and the Joshua Beckers of the world.
I have a more positive outlook in life since I am content with what I already have
My number one advice to people that I provide financial planning assistance to is to live minimalistically, and everything else will be taken care of. The key to a successful retirement planning is not how much you have, but how much less can you spend