The minimalist ideology suggests that wanting and buying more doesn’t make you happy. In fact, owning less could be the reason for more happiness, satisfaction, and even early retirement.
Regardless of whether it’s exaggerated, there is sufficient evidence to conclusively prove that the desire for something leads to unhappiness.
Zorayr Manukyan believes that instead of working our entire adult life to pile up shiny objects to divert our attention from unfulfilling lives, isn’t it better to:
- Break our addiction to obtaining new things, and
- Save money in order to retire a few years earlier and live the rest of your life seeking meaning and purpose.
There is nothing better than the feeling of freedom to enjoy the luxury of less. Not only is this good for financial freedom, but it is also good for our planet as well.
To help you practice minimalism and financial freedom, the following are a few tips from Zorayr Manukyan. these tips will certainly help in a happy and satisfactory retirement.
Zorayr Manukyan’s Tips for Financial Freedom
Zorayr Manukyan Tip #1 – Decide on a Spending Limit for your Subscriptions
Everything has a subscription service these days. From Netflix, Spotify, and Amazon Prime, to a gym subscription can all accumulate quickly.
Determine the maximum price you are willing to spend on subscriptions every month for the most satisfaction. Zorayr Manukyan recommends switching out a membership that you aren’t getting much use out of for a better subscription if you’re enticed to exceed the budget.
Zorayr Manukyan Tip #2 – Set Up SMS Alerts Every Time Your Debit/Credit Card Is Used
Setting up an SMS alert will keep you aware every time your card is used to make a purchase, whether it’s web or off. This will help in discovering any fraudulent activity whenever your card is used without your permission, as well as increase awareness of how frequently you use your card.
Zorayr Manukyan Tip #3 – Buy Pre-Loved Items
There are certain things that you should purchase new. However, there are a gazillion items you can find that are in perfectly new condition, just not in plastic wrapping, and you can easily buy them at over 75% less. The purchase of a used car can help you save money. Similarly, new electronics and refurbished gadgets come with a warranty and can be purchased for 20–30% less than retail. Zorayr Manukyan recommends a decent bargain could take a little time, but it’s well worth it.
Zorayr Manukyan Tip #4 – Invest While Spending
We are lucky to be existing in the age of technology, where investing has become so easy. Simply download an application like Robinhood, Webull, or Acorns, where you have the option to round up or down every time you make a purchase, with the extra money going into an investment account.
For example, if you buy a frappe costing $6.12, $0.88 would automatically be transferred to your choice of investment account.
The best part is the minimal amount won’t make any difference to your monthly budget, and you’ll end up accumulating a good amount by the end of the year.
Minimalism isn’t just cutting back on all unnecessary expenses. It just means you spend your money better and smarter.
This way, you will be able to accumulate more in a shorter period of time, retire early, and enjoy all the things you have always wanted to do.
True beauty lies in simplicity.