There are some things that naturally just go together. One of those is minimalism and frugal living.
Practicing minimalism is a great way to save money and live an organized, simpler life. Choosing to have a few essential possessions will always outweigh having a house full of items you do not use.
Minimalism is good for your pocket, the environment, and your mental well-being.
Looking to be more with less? These minimalist frugal living tips will help you save money.
1. Declutter
There is no need to keep items you do not use in your house. Discarding them at a cost can help you get the money you can redirect to your savings, emergency funds, daily expenses, or investments.
It could be the clothes you no longer wear, apparel your kids have outgrown, toys your kids no longer like, the books you have already read over and over again, children’s items such as strollers and baby cots, kitchenware you upgraded from, and furniture you no longer use, etc.
Selling these items will not only earn you more money, but it will also free your house from clutter, which can be challenging to organize.
Feeling overwhelmed by clutter? Join the 30 Bags in 30 Days Declutter Challenge and take the first step toward a more organized home! This free printable makes it easy to stay on track with one simple goal each day—no stress, just steady progress. Download it now and start clearing space for what truly matters.
2. Needs Over Wants
Minimalism is about items you need, not those that tickle your fancy in the heat of the moment.
Typically, the things you need will be fewer than those you want. For instance, you may want that fancy and light trench coat for winter, but what you really need is a parka jacket to keep you warm.
Choosing your needs lets you spend money on things that matter to you. If you spend money on wants, you end up with many things you do not use.
Many people get into debt when they have to get needs after splurging all their money on wants. Differentiate items you cannot do without and those that you fancy momentarily. It will save you from the burden of clutter and money wastage.
3. Make a Capsule Wardrobe
A capsule wardrobe is one sure way to save money and time. With a great selection of versatile items in neutral colors, you will forget about having to buy all the new trendy items.
Typically, a capsule wardrobe should have items you can wear to work and still be able to style the same piece to run weekend errands or for a night out. What may change may be the styling and accessorizing.
A capsule wardrobe can save you so much time and ensure stress-free mornings. In a capsule wardrobe, every top goes with every bottom.
4. Downsize Your Living Space
You could easily live in a smaller space if you kept only the items you need and use.
A smaller apartment or house typically means lower rent costs, reduced mortgage repayments, and reduced utility bills. With a smaller living space, you could quickly reduce your money on utility bills such as heating and cooling costs.
If downsizing is not an option, you can declutter unused rooms and rent them out to a roommate to earn some money, which can help cover your other expenses.
5. Reduce Screen Time and Digital Clutter
Many people report enhancing their mental health after reducing or completely cutting off their time on social media. Reducing screen time could also save you money.
Social media, especially in this age of influencers, involves many people making unnecessary purchases. We are more influenced than we think we are by social media.
Reducing your screen time reduces your FOMO, which will help you save money while enhancing your well-being.
6. Limit Impulse Purchases
The most popular impulsively purchased items include food, apparel, and household items.
If you did not plan for it, you probably do not need it. Limiting impulse purchases can help you put more money into your savings or investments while keeping your house free from clutter.
Implement ways to reduce impulse purchases, such as practicing the 30-day rule, shopping while full, shopping with a list and committing to it, and deleting your card details from e-commerce platforms.
7. Borrow or Rent Instead of Buying
There are a lot of items you can borrow instead of buying your own.
Before purchasing them, check whether you can borrow them from your neighbors or even the local library.
This is especially true for items you do not use frequently. For instance, if you do not do repairs daily, you do not need to buy repair tools. Not buying such items will help reduce clutter and the money you spend on rarely used items.
The same could apply to lawnmowers, camping equipment, travel supplies such as suitcases, and sports equipment.
8. Sell Unused Items
Selling the items you no longer use could help you get some money to pay for your expenses and emergencies.
When you no longer need it, take a good picture of it and put it up for sale. You could use Facebook Marketplace, Vinted, and eBay, make yard sales, or organize closet sales on your Instagram and Facebook.
You will give your beloved items a second life, as they would be with people who will use them well.
9. Practice Mindful Consumption
Before purchasing anything, ask yourself if you need the item or if it will add value to your life. Avoid impulse buying and take the time to consider how the purchase aligns with your goals and values.
Mindful consumption starts with simple, day-to-day items such as food and moves on to even more complex items you need to plan for. If you can do without the item, the best option is not to buy it. If you need it for a single use, you should find a way to hire or borrow one. Was it in your plan, or is it just a sudden urge to get something? If it was not in your plans, then chances are enormous that you do not need it.
Lastly, always choose the most affordable and minimalist option. This will help you get the most value from your money.
10. Repair Instead of Replacing
Instead of immediately throwing away broken or damaged items, consider repairing them. Repairing not only saves money but also reduces waste.
First, you can learn simple repair skills for clothing, furniture, or small appliances. It’s a sustainable way to extend the life of your possessions. You will also save a lot of money doing DIY repairs.
Alternatively, calling a professional repair person should cost much less than replacing it. So, before you give up on that appliance, you may want to get a professional to repair it.
Repair instead of replacing your dishwasher, washing machines, fridge, phone, HVAC system, bicycles, and broken furniture. It is a great way to show love to the environment and your wallet.
11. Eliminate Subscriptions You Don’t Use
Look closely at your subscriptions for streaming services, magazines, or gym memberships. If you’re not using them regularly, consider canceling or downsizing them. This can save you money each month.
It is not just about subscriptions you do not use. If you want to save money, consider subscriptions you do not need. For instance, you do not need several streaming services. Paying for one is sufficient, and you will be comfortable with it.
Lastly, if you are on a budget, consider free alternatives, such as using free YouTube instead of paying for music services.
12. Share Resources With Neighbors or Friends
Explore the possibility of sharing resources with your neighbors or friends. Sharing saves money and fosters a sense of community and connection.
Had a plentiful harvest from your kitchen garden? Your neighbor could use some of the produce instead of wasting it.
You could also share some household equipment or rides to work or grocery stores.
13. Quality Over Quantity
When making purchases, prioritize quality over quantity. Invest in well-made and durable items, even if they cost more upfront. Quality items tend to last longer and provide better value in the long run, reducing the need for frequent replacements.
Some items you do not want to compromise in quality include winter coats, underwear, electronics, mattresses, footwear, and safety equipment such as helmets.
Investing good money in good quality items enhances your comfort and safety while helping you save money in the long run.
Practicing minimalist living while saving money is an excellent step toward a more intentional and fulfilling life. By embracing mindful consumption, repairing instead of replacing, streamlining daily routines, eliminating unnecessary subscriptions, sharing resources with others, and opting for quality over quantity, you can make significant strides toward achieving your financial goals and simplifying your life.
Embrace minimalism today. It will help you progress toward greater financial freedom, reduced stress, and increased happiness.
