No matter where you are in the world, inflation is evident.
And so in today's video I would like to share 9 minimalist habits that make me wealthy while reducing the impact of inflation.
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10 Minimalist habits to fight inflation / aslowsimplelife
Chapters:
00:00 Minimalism journey
00:53 contentment vs lifestyle inflation
03:38 Frugal options
05:04 Diversify & invest
06:23 It's not perfect
Today marks our 5th year of living in a foreign country.
5 years ago, we downsized our possessions back home and brought only the essentials with us to start a life here in Thailand. I was loving the lightness of not having a lot of stuff and decided to keep at it even after we've settled down.
And so today's video I would like to share 9 minimalist Habits that make me wealthy while reducing the impact of inflation.
No matter where you are in the world, inflation is evident.
Here in Thailand, we see how much grocery prices, rent and other things have gone up compared to when we first moved here 5 years ago.
But a minimalist and frugal lifestyle helps to reduce the impact of inflation.
Back in 2018, we were paying 13000 thb a month for our previous 2 bedroom rental house.
5 years later and at a new house in a different location, we still pay the same amount. This house is slightly smaller but the yard is bigger, and the neighborhood is better than our old one.
Aside from keeping the same rental price, we're able to keep our utility costs low by conserving energy.
Our grocery costs are also lower as we choose cheaper and healthier alternatives while sticking to locally made food and non food products.
Many things in Thailand are still cheaper than where we used to live and travel. We could choose to inflate our lifestyle by renting a bigger house or spending excessively on eating out and things we don't need. But it's just not something we're interested in.
Overall, we are content with a simple life at home, having the things we need. The home we're renting is cozy, the furniture it comes with may be basic but functional, and we get to eat 3 times a day and have occasional trips if we want to. We couldn't ask for more.
There’s a saying that goes, “Every time you borrow money, you're robbing your future self.”
― Nathan W. Morris
And the opposite is also true - each time we pay ourselves, we're giving our future selves a more comfortable life
A frugal and minimalist lifestyle helps us to minimize living expenses, create extra funds and prevent unnecessary debts. Through smart spending, there's money to set aside for savings, emergency funds and investments without feeling deprived.
As a conservative investor, I prefer to grow my money in a slow, steady and reliable way. I'm not into those get rich quick schemes.
Even if it's only a couple of hundred dollars to start, investing my money in dependable stocks is more profitable than just keeping all of it in a basic savings account that doesn't earn much interest.
While minimalism is by no means the magic bullet to all of our problems,it does help to make the journey lighter.
Minimalism reduces the complications of an already complex life. A house on its own, requires work to maintain as it is. But double or triple the size and fill it with a ton of clutter and junk, then upkeep becomes an exhausting, expensive and time sucking ordeal.
By living minimally and frugally, I protect my money from inflation while safeguarding an even more valuable asset - time.
I could choose to work more, earn more and live more excessively. But it would mean reducing the time I have for things that matter more to me.
I would rather live simply and have the time to live and work than live above my means and only have time to work for a living.
The reality is, we can regain money lost but there's no way to regain time wasted.
So it is all about designing a life of less - and more. More of what I value and less of what I don't.