Minimalism and Personal Finance

Jeffrey Young
Apr 26
3 min read

Updated: Apr 28

Back in 2017, I stumbled across the concept of Minimalism—and it immediately caught my attention. At that time, I was already frustrated with all the “stuff” I had accumulated. Every day, I walked past things I didn’t want, things that cluttered my living space and, unknowingly, my mind.

As I learned more about minimalism, a light bulb went off: All the physical clutter was quietly taking up valuable brain space. Space I could have used for happiness, creativity, or simply peace.

At the time, I was married. I couldn’t just toss everything overnight. But I started small, working on what I could control. Every time I let go of something unnecessary, it felt freeing—like breathing easier.

How Minimalism Helped Me Focus on What Really Matters

Fast forward nearly 10 years later: I’m now a single father, a full-time professional, and a financial coach. The lessons from minimalism have stayed with me—and they continue to pay dividends daily.

Recently, I picked up another book by Joshua Becker, one of the first authors who introduced me to this lifestyle. His first book, "Things That Matter", truly changed my life.(Yes, I know that sounds cliché—but it's true.)

Now I'm diving into "Simplify", one of his earlier works. And something clicked that I hadn't realized before: Minimalism and Personal Finance go hand in hand.

The Connection Between Minimalism and Personal Finance

When you practice minimalism, you simplify. You own less. You buy less. And you stop chasing the short-lived high that comes from buying more stuff.

The research is clear: Material things and impulse purchases bring momentary happiness, not lasting joy. The less you own, the less you have to maintain. And the less you have to maintain, the less money you spend keeping up.

Less clutter = less stress = more financial freedom.

You create more brain space, which allows you to focus on what truly matters—your goals, your passions, your relationships.

A Personal Story: The Hot Tub That Taught Me About Joyful Spending

In June 2024, just six months after my divorce, I made a seemingly unwise financial decision:👉 I bought a hot tub.

Yes, a hot tub.

At the time, my emergency fund was still recovering. I was traveling. It wasn’t a "logical" purchase on paper. But my finances in general were just fine and purchasing this was not a huge deal in the grand scheme of things.

But the truth is, that hot tub has brought me incredible joy. It reminded me of the peace I used to find soaking in the family home's jacuzzi, where I first read Things That Matter. It became my place for reflection, relaxation, and yes—reading (I’ve read 10+ books in that tub!).

Was it a "need"? No. Was it aligned with my deeper values of rest, peace, and health? Absolutely.

This is what minimalism taught me: Spend on what brings true, lasting value—and cut out the rest.

The $13 extra a month on my electric bill? Worth every penny for the memories and restoration it’s given me.

What’s Taking Up Space in Your Life?

Think about it:

What are you holding onto that’s weighing you down?
What purchases aren’t bringing you real joy?
What “hot tub” investment could actually enhance your life?

Simplifying isn’t about depriving yourself. It’s about making space—for joy, purpose, and financial freedom.

I'd love to hear your story. Reach out to me at jeff@WNCFinancialCoaching.com—let’s talk about how minimizing can maximize your life and your finances.

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