19 Financial Minimalist Habits That Made Me Wealthy

Here are 19 habits that have made me wealthy at age 28.

Financial Minimalism is "making intentional decisions with your money that align with your values and minimizing your financial clutter." When you pursue financial minimalism you are seeking to make intentional decisions with your money on things that bring value to your life. Naturally, when you become more intentional about your spending, you spend less money.

The main word with financial minimalism is "intention" and being intentional with your spending. In this video I talk about "19 Financial Minimalist Habits that Made Me Wealthy."

1. Practicing contentment with material possessions

The ultimate goal of minimalism is "contentment," which is being satisfied with present conditions. Be happy with what you have, instead of always wanting more.

2. Simplifying bills

Being a minimalist, I want to simplify as much as possible with my finances. I automate my bills so that I do not have to spend time paying them and I do not miss a payment.

3. Simplifying investments

Just like my bills, I like to be simple with my investments. I follow the "buy and hold long term" strategy with investing by buying index funds and not worrying about the market.

4. Remaining calm

An important habit to become wealthy is remaining calm in down trends of the market and not panic sell. People lose the most amount of money when they panic.

5. Planning for the future

No matter how good your life is, times will eventually get bad, so you have to prepare for the future by creating an emergency fund.

6. Delayed gratification

Delayed gratification is "the ability to wait to get what you want." The best things in life come to those who wait, so instead of seeking instant gratification, seek delayed gratification.

7. Defining money's purpose in your life

What is money's purpose in your life? The answer to that question is very important to becoming wealthy. For me, money means peace of mind.

8. Being self sufficient

Knowing how to do things like change your oil, fix things, and cooking can save you a lot of money. It also gives you a wealth of information on how to live.

9. Having a balance

Minimalism is about having a balance. No matter what you choose to do in life, you have to have a balance and not deprive yourself of things.

10. Take care of your stuff

Expensive things generally last longer because you take better care of them. It doesn't matter how cheap or expensive something is, you should take good care of it because it will last longer.

11. Define enough

How much money is enough to do what you want? It is important to define enough in your life because you will never have enough until you define enough.

12. Don't screw your future self over

This is a basic principle of money: "When you are saving, you are giving to your future self. When you are taking on debt, you are stealing from your future self."

13. Not embracing comfort

Comfort is expensive, but is also costly to your development as a human. You grow the most when you are uncomfortable, so don't always be seeking comfort in your life.

14. Not embracing convenience

Convenience is expensive, but when you are always doing convenient things you miss out on community. This is costly both financially and mentally.

15. Getting the most out of things

Minimalism is about intention, so be intentional about your purchase and get the most out of your things. You will naturally spend less.

16. Embracing patience

You don't become wealthy overnight, it is a process that happens overtime. If you are patient, you will eventually become wealthy.

17. Living below your means

You don't become wealthy by owning nice cars and a big house. You become wealthy by living below your means and saving money.

18. Take care of your health

Your body should be your biggest investment. Without it, you will be unable to do other things. Take better care of your body just as much as your money.

19. Embracing the journey

Financial minimalism is a journey that never ends. Don't live thinking that "one day" things will get better. Enjoy the moment and every part of the journey.

**None of this is meant to be construed as financial advice, it's for entertainment purposes only. Past performance is not indicative of future results. Austin Williams does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned may not be suitable for you.**

[ElAgustin]

What's one habit that helps you grow your wealth?

[brandifree]

“I make myself rich by making my wants few.” ~ Henry David Thoreau

[jonredd]

The less you own it's easier to maintain and take care of what you have! Win win

[vinaygohil]

Brilliant. How the heck did this young man pick up such wisdom & sageful advice in such a short time on this planet ?!!

[uranne]

Nobody teaches contentment anymore. Thank you for this content.

[PankajPoddar]

I just started watching this young guy. What I like about him is "his honesty". I think many YouTubers these days are not honest in what they do and what they say. Somehow, my experiences say that Alex has clarity and honesty. I made several financial mistakes (I will be 49 years old next month). I wish someone would have woken me up back then. I used to overspend like anything since my early days when I started earning money. My earnings remained high mostly due to my qualification, but I lacked the wisdom to spend, and I had zero wisdom in investing it and growing it properly. By the amount of money I made, I would have been financially independent 10 years earlier had I learnt how to invest properly and how not to waste in useless stuff which I rarely used.

[michellecastaneda]

One thing I do to save money is, don't go into the stores unless you have to. Don't walk all over the stores if you don't need something and if you find something you think, I most have this, take a picture of it with your phone but don't buy it. Then for a week look at that picture everyday, asking yourself, do I really want to blow this money on this item. Normally after a week of looking at the item and talking to myself about the money, I almost never go back to buy the real item. I find just staying out of the store helps a lot as well. This as saved me lots of money.

[allenbrown]

I’ve always wanted a tiny home. Loving with less makes me so happy.

[katieboulton]

my friends call me cheap, but I'm frugal, I've never had debt, worked 2 jobs to get my house in a cheaper area, get cashback, savings, discounts etc where I can, I dont replace anything unless it cant be fixed, I know work part time & I rent out my spare room on a Airbnb, I've got savings, bonds, shares and investments aswell as small streams of income. most of my friends are working 40 hours a week and up to their eyes in debt. the only debt I have is my house which I try to pay a little extra off each month. I'm happier now then I've ever been.

[michellecastaneda]

I also save lots of money by using Walmart shopping online, then you just pick it up yourself. I never have to walk into the store and I never buy something that is not on my shopping list this way.

[annacats]

Currently reading this while sunbathing in Spain with subtitles on.
Very informative.

[tshandy]

I don’t know what you do for a living, but I hope it is working with young people (high school aged). What you are preaching is desperately needed in that age group.

[lifeyang]

The best time to plant a tree was 20 years ago. The second best time is now.

[A.Masculine.Reminder]

Your wisdom and constant of this video is YouTube gold.

[normanschranz]

Your words of wisdom at your age is phenomenal! Knowing what enough is and knowing that your body is the greatest investment. You’re gonna go far in life. Keep up the amazing work and channel

[deerhaven]

You are wise beyond your years. I am a retired 67-year-old and the best thing I ever did was to invest in a managed S&P 500 account way back in the early 1990's. Yes, at times it's been a roller-coaster ride over the ensuing years, but over the long haul it's proven to rebound after every financial downturn. I also agree with and abide by your financially minimalist outlook. Bravo!

[ashleycora]

Years ago I was buying cheap Forever 21 sunglasses that I kept losing and breaking. I decided to get a good pair of $130 ray bans & I’ve now had them over a decade. It’s the only pair I’ve had since as well.

[biancahayes]

I started a new journey in my life and one of the main points I'm focusing on is my financial journey. It's has been a struggle to figure out what works for me and what doesn't. You're videos has definitely made me think hard about what my goals are and how to pursue them. Thank you so much, I love your videos.

[Britch]

Hey bro I've just discovered your channel, and absolutely love it! Thanks for making amazing videos

[freddiecruz]

Well said. Thanks for this great vid!!! God bless!