Is Being a Minimalist Expensive? Or Can It Save Money?

Indian Paintbrush - is being a minimalist expensive

“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people that they don’t like.”

– Will Rogers

Articles abound about how minimalism is only for rich people, but is being a minimalist expensive?

Not at all.

While it’s true that people with lower incomes will often find minimalism untenable, this isn’t because minimalism is expensive. Instead, it has more to do with things like having to travel to the laundromat, not having good enough credit to rent rarely used items, and similar issues.

Those in the middle class or upper middle class will almost certainly find that minimalism is a lot cheaper than trying to keep up with the Joneses. Of course, this may not be the case if your family decides to cut back to one car and to make it a Ferrari, but most people who become minimalists will find they save money on several (if not all) of the following categories:

  • Clothes
  • Electronics
  • Food
  • Home decor
  • Housing (rent or mortgage payment)
  • Home maintenance
  • Property taxes
  • Insurance
  • Utilities
  • Furniture
  • Storage units
  • Gasoline
  • Impulse purchases

As many of you know, we downsized to a much smaller home a couple of years ago, which has resulted in tremendous savings.

What about you? Is being a minimalist expensive? Or has becoming a minimalist saved you money?