11 Essentials of a Minimalist Budget

Minimalism is often associated with the idea of decluttering and simplifying one’s life. However, one can also apply it to their finances and create a minimalist budget.

This concept involves reducing unnecessary expenses and focusing on what truly matters in life.

In order to create a minimalist budget you first need to get over the fear of looking at your budget to begin with.

#1 Identify Priorities

Take the time to contemplate and decide what is truly important to you. Make a list of priorities so that allocating resources is easier.

#2 Track Spending

Keep a record of your expenses for a few weeks to get an idea of where your money is going.

#3 Eliminate Expenses

Consider canceling services such as cable or home phone service and stick with just one streaming service subscription.

#4 Automate Savings

Most people don’t set up savings or investment strategies because they feel they have too little wiggle room to make a difference.

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