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minimalist finances


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The subscription ran out on my MagicJack the other day. I knew it was going to happen; Katie needed money for her field trips so I used the budgeted amount on her instead.

That is the beauty of applying minimalism to money; you take care of the important stuff and don’t worry about the rest.

how to apply minimalism to finances

One of the main ways to become minimalist in your finances is by reducing your recurring expenses to cover your basics and little more. Essentially, you eliminate all of the nonessential bills that you may have.

After you accomplish that you can pare them down more by focusing on the individual items. For instance, examine your car insurance bill to see if you can’t get your provider to lower the rate or find another provider at a better price. You can do this with phone service, cable service and other similar items.

See if you can reduce things like rent and car payments – or eliminate them entirely. If you make it a game to see how low you can go this becomes an interesting challenge you play with your pocketbook.

I did this when I chose to rent a tiny one bedroom house instead of a larger two-bedroom, saving several hundred dollars a month in rent. I also did this when I chose to pay cash for my old van several years ago – a vehicle that I’m still driving, even though it is around 15 years old.

You can save a lot of money when you think out of the box like that.

what if you don’t have enough money?

Occasionally there will come a time when you run out of money before you run out of month. When that happens, rank your bills by priority, take care of the most important ones and let the rest go. For credit cards or other nonsecured debt, divvy up what is left in your budget to send them all a little bit. That will keep them from squalling too loudly.

Sometimes you will have to make a bit of a sacrifice though, like I am doing with my MagicJack. Just be thankful you had as much as you did and move on. If it weren’t for the occasional challenge life would be boring indeed.

As for my MagicJack, it still allows me to receive phone calls, though I’m not allowed to dial out. That’s okay – I don’t make very many phone calls anyway. Until I renew the subscription I can use Google Voice if I need to call someone.

For more information about living with less, you may be interested in my book The Shoestring Girl: How I Live on Practically Nothing and You Can Too, available in both print and digital formats. Your purchase helps support my work and I really appreciate your support – thank you.

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