Why I'm a Financial Minimalist

10 Reasons Why I Choose to be a Financial Minimalist

When I was a kid, I would see TV shows of people with big houses, private pools, and 10 cars. When I would watch these shows, I would feel very insecure because I wasn't living in a big house with a bunch of nice things.

My life changed once I started traveling the world and I started to see that there is not just one way of living in this world. People do different things in different places and if I did not want to live in a big house and have a bunch of stuff, I didn't have to and I started to embrace this idea of "financial minimalism."

Financial minimalism is using your money intentionally in a way that adds value in your life. When you are more intentional with your spending, you naturally spend less. In this video I talk about "10 Reasons Why I Choose to be a Financial Minimalist."

Reason 1: To Remain Human

People often want to live very extravagant lives with big houses, private pools, and yachts; however, people never ask themselves, "What do you lose when you pursue this path." You lose community, relatability, and humanity. I choose not to live extravagantly because I want to be able to relate to people.

Reason 2: Community is a Human Need

Community is something that humans need to survive. When you spend too much money and show it, you lose your ability to relate to other humans and be a part of the community. I would rather find happiness through community than through spending money.

Reason 3: We Only Get One Life

In the US, we are so serious and future oriented that we forget that we only get one life. We spend most of our lives trying to make money, but if you spend less, there is less of a need to make money. I want to manage my money in a way that allows me to live my life more.

Reason 4: I Like Diversity in Thoughts

Money can divide people and prevent you from getting to know people with a different perspective. The world is incredibly rich in perspectives, so I do not want to allow money to limit me from only getting to know one type of person.

Reason 5: I Love Creativity

I have learned in life that when you have less money, you have to be more creative. Convenience and easiness can steal your creativity. I prefer to limit my spending so I can have more creativity in life.

Reason 6: I Want to Own My Stuff

Who is the owner of your stuff? Do you own the stuff or does the stuff own you? I like having things in my apartment, but I am very intentional when I bring something in because I don't want my stuff to own me.

Reason 7: To Live With Imagination

Life is much richer when you are able to use your imagination. Just like creativity, you are able to use your imagination when you don't spend as much money. I prefer to spend less to have more imagination in life.

Reason 8: To Keep Appreciation

If you are constantly treating yourself to things, they are no longer treats, but it is the norm. I limit my spending on treats because I believe that depriving yourself of things is necessary in life.

Reason 9: To Keep Simplicity

When you buy something, there is the monetary cost, but there is also the responsibility cost. I do not want to spend money to accumulate a bunch of things because I would prefer to live a more simple life.

Reason 10: To Keep Ownership in My Life

I prefer to do things on my own instead of pay people to do it because it gives me a sense of pride and ownership of my stuff. I would rather save the money and do it myself.

[ElAgustin]

What is one reason you are a financial minimalist?

[ok-sqzx]

I adore you. Older black female American. Abhor consumerism. Reject peer pressure. I lead, I don't follow. Stumbled on your channel. A vegan. Don't eat out. Very scornful, so I prepare my food always. Misery loves company. When they don't see me with the latest "stuff", they assume I can't afford it, little do they know. I just choose a simple life. I enjoy saving, and hate spending. ☺️

[isabelbecerra]

i am 59 and have recently become a financial minimalist. my husband has us on no-credit living. we only get an item if we have money in the checking account. we don't touch our savings. we pay for road trips on cash. if the debit card can cover it then we purchase it. we only buy necessities.

[luciagonzalez]

My grandmother live through the depression, she was so creative with everything in her life. She sewed her curtains, then made them into clothes, she made slip covers for her furniture, she made things from the margarine tubs, and just never threw things away, instead she found a creative use for them. People today have no creativity, they run to Walmart for every need instead of thinking outside the box and finding solutions that do not cost money!!

[GpaEric]

Sir I became a minimalist in my late 50’s. I’m enjoying my simple life immensely.
Cheers y’all. 🍻

[CookingwithDesi]

I just wanted to share, a friend from work went on a multi country trip after her cancer diagnosis and was blown away when she was on a beach in Africa the locals shared the fish they caught with her. And cooked right there on the beach. They clearly didn’t have much but we’re so so happy. Many people have reported this on visits to very poor places. You help us to have gratitude and be happy enjoying nature and simple things.

[marinfamily]

I am a Latino who lived 15 years in Central America and now, most of my life I have been living in the US. You nailed it about Latin countries having a strong family and community structure. This is my theory on how I view the American culture and Latino culture.
In the US, people love to spend their free time or leisure time going to the mall or store to buy something. In Nicaragua for instance, people spend their free time or leisure time going outdoors, visiting family or friends or meeting up for a drink or coffee. People over there go shopping only when they need something. The social life in those Latin countries is 10 times the social life in the US. Friends and family will knock on your door without calling to announce a visit, they just show up and it is perfectly fine. It’s 2 different worlds buddy.

[TA-mujt]

First off, I’ve binged watched pretty much all of your YouTube videos today! I have to say that you are extremely relatable and skilled in conveying your message without being condescending like other minimalist preaching YouTubers. As an older man nearing his fifties, I realized in my mid forties what it meant to live life with intention, appreciating the little things and living with less. At your young age, you are very wise about the priorities of life. I have to point out that the statements you make about life holds true (and spot on) and I hope you continue to spread your message to those who believe materialism equals happiness. We both know it isn’t. Keep up the excellent work and best of luck with your growth on YT! You’ve gained a follower in myself!✨

[victoriabrandon]

After moving I had to get rid of most everything. Now I am living with just the basics and I am happier than ever!

[sharonlugone]

I love that you don't focus on saving.money on certain purchases but rather on how limiting consumption makes our live richer in numberless ways. Since I've become frugal and switched focus from consumption to creation, my money anxiety has disappeared. Now I can devote my energies to books, music, movies, creating delicious food. You are a very wise (and funny) young man. Muchas gracias!

[surprisingbenefits]

spot on my friend, as a young man growing up in a poor country I was the happiest, first world changed me, I don't have that feeling anymore, something was lost and I'm still desperate to have it back..

[liamcanning]

Watching your video reminded me of what my Grandfather told me when I was young !
You Spend Your Health to Get your Wealth ! Then spend Your Wealth to get your Health !
Keep up the Great work of teaching the World about Life !👍

[WalkInVictoryToday]

I've been a minimalist since 2014. We were going to move house (and then didn't!) As I was packing, the thought occured to me that maybe I didn't want to pack and move all this crap! I cannot tell you how many loads we took to the charity shops (filling a our Ford van and even a trailer pulled behind it!)
I've been decluttering ever since (it's amazing what still finds it way into our home) Now, I'm rededicating my to minimalism!

[gina]

I just discovered your channel and I am hooked. Thank you so much. I feel like I had lost myself for the past 22 years constantly buying things that I don't need but because of your channel I am focusing now on the most important things in life and one of them is to spend my money intentionally and save more so I can have the freedom to do the things that really make me happy in life. Thanks again.

[MultiBikerboy]

Biggest example is cars…people buy brand new and lose $1, 000 the minute they drive it off the forecourt as it is instantly now a second hand car. I buy low mileage 10 year old cars that have been driven by grannies, you pay less than a quarter of the new price. 😄

[ひよこ_ピー]

i am so much happier now that i practice minimalism

[roxymarj]

I’ve been thinking about this concept “financial minimalist” for awhile now and to be honest, didn’t have the guts to get on board till about 6 months ago. Thankfully some major life events happened that have propelled me to this lifestyle I’m now in full pursuit of… but it took me having to overcome some major issues involving my ego. Learning to be okay with people thinking you are poor or boring or can’t pay your bills or lack good taste/style (whatever that means) has been something I’ve needed to come face to face with. I think most people overspend to prove to everyone else “I’m doing great!” But when I really think about that behavior, that’s actually overcompensating. A quiet confident person doesn’t have a desire to tell people (let alone strangers!!) that they are doing well financially. Ahhh this has become a favorite topic of mine to talk about and my husband and I are loving your videos! So cool you’re in Colorado, we live in CO as well. ✌️😀

[sct]

What I don’t like about the FIRE movement is that they only live for the future (once retired). You only live once, so enjoy a little. It’s okay to go to the coffee shop, eat out once a week. Just set a budget.

[lisalamphier]

You are a breath of fresh air, Austin. Money is important but it needs to serve you. Too many people waste their lives in pursuit of money. It only takes a few smart financial decisions to totally change the quality of your life. (Take this from someone who bought a beautiful home alone on a minimum wage job). Make your furniture from fruit crates, raise your kids in a tent. Do whatever it takes to have a life that you can love.

[HP-fcsl]

It's also down to necessity. In India the families are close knit, look after the elders and each other. Living in multi generational households. In India there's no state pension unless you work for the government and its hard to get a job in government. There's a lack of state benefits and so family look after each other out of necessity. It's about survival.