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.*