How to be a Financial Minimalist

10 steps to become a financial minimalist

We often live in a world of extremes where people think that there are only two options to live. Where you are either living in a mansion or a cabin, working 60 hours or nothing, and are materialistic or don't buy anything; however, there are more than just two way to live in this world and I think that the perfect balance of the two extremes is through "Financial Minimalism."

Financial minimalism is just using your money intentionally to bring value in your life.

In this video, I talk about the steps that I take to live a life of balance through financial minimalism, instead of living a life of extremes.

10 Steps to be a Financial Minimalist

Step 1: Realize We Are Playing a Game

When you become an adult and have to figure out how to do things on your own, nobody tells you that what you are doing is that you are playing a game. The game is called, "Money." Instead of spending money blindly and acting like there is nothing to do, start playing the game of money with strategy.

Step 2: Play the Game in Your Favor

The game of money is not evil. It is only evil when you spend your money blindly and do not plan for your future. The game is set up that only wealthy elites benefit, but if you start playing the game so it benefits you, you will enjoy the game more.

Step 3: Don't Play to Win

The game of money cannot be won because there is no limit to how much money you can have in this world. Instead of trying to win the game and keep accumulating money, play to live life on your terms. The game is not a competition to the top, but it is a game against yourself.

Step 4: Help Yourself First

When you are in an airplane they tell you to, "Put on your own mask before assisting others." This is the same thing with money. You have to take care of yourself first so that you have less stress and are able to contribute to society more.

Step 5: Look Out After Yourself

We live in a dog-eat-dog world where people do some terrible things in the name of money. The hard reality is that you get more respect in this world when you have more financial security. You have to establish financial security in your life so that you can live life on your terms and no one will take advantage of you.

Step 6: Don't Base Every Decision Off of Money

I am a financial minimalist because I think it is a balance between the two extremes of saving and spending. It is important to save money, but it is also important to live in the present. I use my money both to save and spend, so I can enjoy things without worrying about my future.

Step 7: Find a Balance

As I mentioned, life isn't about living in extremes, there are more than just 2 options in this world. When it comes to money, you need to find a balance to live your life so that you are not living in extremes.

Step 8: Celebrate How Far We've Come

We often are always looking towards the future and looking for the next thing that will improve humanity, but we are never celebrating how far we have come. A financial minimalist isn't always looking towards the future and remembers to celebrate the present.

Step 9: Find Contentment

Minimalism is about finding contentment in your life. You will not find contentment directly through money, it is what you do with the money that will allow you to be content.

Step 10: Have a Healthy Relationship with Money

Life doesn't have to be a world of extremes. There are more than just two ways to live in this world. Financial minimalism is just about finding a healthy balance with the two extremes.

**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 does a "life of balance" look like to you?

[joanbeauregard]

I’ve become a fan of yours—-and for goodness sake I’m turning 79 in a couple of months! It is a joy to hear such wisdom from a young man!

[daviddean]

Austin Williams, I wish I was half my age and I could go back thirty years and be your best friend. You, good man, are a fresh bowl of information sprinkled with the highest quality of charm and kindness. I adore you and your videos and I don't mind repeating that over and over. Cheers, Austin Williams. Much thanks!

[allenbrown]

“Live below your means but within your needs.” - Suze Ormandy 🧡 🐪

[christinecatrambone]

Aww the age old question ….I have recently found your channel and love it. I have recently lost my job that I have now realized was killing me. Luckily…I saved my money but the new job I have just accepted is for less money but frees me up to enjoy this life. Your videos have made me realize that I do not have to sacrifice anything to have this job….just be intentional with the money I make.

[susanjmcfarland]

I love the term financial minimalist. At 57, my mortgage has been paid off for ten years and I retired early to care for my kids. Living life on my terms intentionally. Loving your channel & the Spanish add one. Thank you for sharing your wisdom❣️

[joannestirk]

I wish you was around when I was in my Twenties...I'm now just 10 years off retirement age and only just started looking after my money. I wish I knew all your advice years ago. I enjoy watching your video's you explain everything so I understand it...Thank you Austin ❤

[susanczajka]

62 years old and I have never heard words so true and wise! When is your book coming out? You should be teaching these steps in Jr high or grammar school!!

[danguidi]

Your Chanel WILL blow up. You are providing great, useful content. Even if you know all of these things, as a YouTube junky, it’s nice to reflect on these principles instead of consuming useless content. Thank you.

[davidjenson]

Amazing to see a young person with so much insight.
I learn everyday from others... thank you for sharing this .

[danicegewiss]

We were grocery shopping. This couple has ice cream cones. My husband commented about their cones. I saw them and said we were putting $20 a week aside so we could go out to dinner...a nice meal. Passing up the ice cream gives us a special meal occasionally. We are planning to go out to our favorite German restaurant in Virginia. The food is authentic. It's worth it. We love the place. We go when we're in Virginia. This time we're paying cash.

[DavidSweetnam]

Part of it all is asking ‘what do i really need?’ Is this a need or just a want? As you said I think in your first video or two, we don’t really need much in life

[nicholemalloy]

The part about people not having control over you when you are a financial minimalist is so true. I still have to work and will do so for decades but I can afford to switch jobs, quit on the spot if need be, and I don’t feel the need to be at the bosses every beck and call anymore. I enjoy my time with coworkers now and have started making work friends more easily.

[CAGChannel]

Love the fridge - so many minimalist videos say, clear your fridge of visual clutter. Nope, this isn’t clutter for me; these are precious photos for me, only visual clutter for you. Love that take + this is MY minimalism and yours will look different and work for YOU.

[scarletovergods]

Love your energy! So many beginner youtubers are missing this and it's crucial for this type of video.

[kaycollins]

I don't let myself have all of the stuff that's out there. I pick and choose what I really want. When I occasionally go out to eat, it is special and I truly appreciate it so much. You can't be happy if you dont appreciate anything.

[DesertMav]

This video rings true on so many levels. I have followed most of these steps, but there are some material needs and desires that I ultimately want to work towards, such as owning a home. The only thing I really need to work on is my well being, but it is a work in progress.

[ludwiganker]

The cabin in the woods sounds good 👌🏼, specially if it’s near a stream or a lake, being in touch with nature is very relaxing 😌, but I will have all the comfort that makes me feel content and a small pickup 🛻 truck to go to the nearest towns to get some supplies and get to know the good local cafes, restaurants and breweries 🍺.
I’ll be able to save $$$ and still enjoy ☺️ life.
Thanks Agustin for all the great ideas 💡 on how to be a financial minimalist.
I’ve really been enjoying your videos.
Peace ✌️

[leannlarue]

One of your best videos for me. I took notes to remind me I'm on right track. Don't give away your money, just cus your family knows you have money saved for retirement from sale of your house. Learning as I go.

[jamesbernal]

Living a simple life is so much more rewarding. It's not about sacrificing and doing without, it's about having what you truly need and a little more. After my divorce, I started living a more minimalist life by necessity and discovered that you can be so much more fulfilled with less and I don't deny myself the things that I enjoy. I will never go back to a huge house with a bunch of stuff with the mentality that more = happiness.