Work-Free Wealth

Income Investing for Financial Independence and Early Retirement

Defining enough or the slow road to Minimalism

Minimalism is a fantastic concept.  I very much agree with the principles of having less stuff.  It not only reduces your footprint but it also helps in feeling less stressed.  You don’t have to worry about scratches on your new car, cracks in that fantastic marble floor or countertop, or storing all the stuff that you own.  There is a reason why decluttering and cleaning leaves you feeling relaxed.  With all this mind, I started creating my own “post” Financial Independence/Retirement (FIRE) budget.    I based it on my higher level key budget categories that I have been using for the last few years.  That means I know pretty well what I typically spent.

Going from the “theory” of minimalism to implementing it, takes a lot more than just agreeing with it theoretically.  To be truly minimalist, I would not only have to sell my house and rent or downsize but I should probably replace my car with a tiny, economical car.  I admit, my current car is a BMW.  For all the minimalist internet police out there, I can say in my defense that I bought it used.  I don’t want to go down the sunk cost argument here, but it’s my first big obstacle to getting closer to my theoretical smaller footprint lifestyle.  Of my two big budget categories of housing and transportation, I added selling the house to my to-do list and the car is in the “parking lot category” – i.e. I will tackle my other categories first.  Let’s see how that goes.  Maybe I pick up some gardening to make up for not doing anything about the car yet.  I would need quite a good harvest though speaking in financial terms.

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