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Applying the “Less is More” Philosophy to Your Finances

Pinterest and magazines are covered with the “less is more” design slogan. And it makes sense when you apply it to designing your living room, or even minimalist website designs with tons of white space. But what about your finances? Could less ever be more when it comes to cold, hard cash?

When you first start thinking about applying the “less is more” philosophy to money, more often than not, the first response goes something like this: How on earth can less money be more money?

Via http://www.flickr.com/photos/davidturnbull
Via http://www.flickr.com/photos/davidturnbull

But it doesn’t work like that. “Less is more” speaks more to the tangential side of money — the parts of our lives that relate to worrying about money, working to get more of it, or working to manage it, or the new ideas that come with spending or having less. Applying this strategy to your life can have positive rewards!

Less SPENDING is more SAVING (and LIVING)

Stop spending money! The first and most obvious step: the less you spend, the more you get to save. But even more important? The less you spend, the less you need to earn. This is an invaluable lesson for those who seek self-employment and financial freedom. If you need less money to live your life and reach your goals, then you can work less, or take a job that pays less, to reach those other, non-financial goals.

Less BELONGINGS is more TIME TO YOURSELF

Minimalism is a growing trend because of the freedom that fewer possessions and fewer purchases can bring your home life. Less belongings (or, to be grammatically correct, fewer belongings) means less time spent cleaning, monitoring, moving, and arranging those belongings. It may not seem like a lot, but if you take a close look you might be surprised by how much time you spend tending to your belongings or trying to remember or find things that you own. Fewer belongings means more time to be yourself in your home, surrounded by only things you love… not the things you’ve accumulated.

Less BUSY is more TIME….

Streamline your checking (like this one at BB&T), savings, and investing accounts. Keep only one or two credit cards, or none at all. Less time spent on the day to day management and “business” that goes along with your money is more time you get back to be yourself and live your life.

Do you believe that less is more? Or do you think more is more?

 

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24 Comments

    1. Right! I was so surprised by how much your number of possessions impacts your time spent cleaning. I used to feel like I was cleaning all the time, now I feel like I never do!

  1. I am all about less is more when it comes to stuff and spending on non-consumable goods. Why would I want more crap to clean and maintain?

    Case in point: I priced out standing desks and they were way overpriced so I made my own. Meaning, I piled the two books I own (I haven’t resold them yet, I’m a Kindle convert) on top of my smaller-than-normal fridge and put my laptop on it. Voila, I have a standing desk.

  2. Thoreau would love this, Daisy! And thank you for using fewer rather than less. That is way underrated. Have a wavy one!

  3. Many people try to surround themselves with a lot of junk just because the ‘trend’ now is to buy and consume. Knowing what you REALLY need and not going overboard is indeed a great idea.

  4. I am really into minimalism-not Scandinavian level, but close enough! I hate having a whole bunch of crap to deal with and the more I get rid of: debt, negative people, clothes, etc .The freer I feel. It’s an incredible feeling.

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