How To Reduce Excess Spending & Owning
On the road to sustainable living, simplification is key to conserving and saving resources and money.
However, the planet and the environment can be saved without completely overhauling our lives and living with as few belongings and as little spending as possible.
When the global economy is in what many consider to be a recession, it can become a battle between your wallet and your heart as you try to decide what your options are to live the life you want while still staying within your means.
Yet, sustainability is about finding a balance within eliminating the excess in order to improve awareness, productivity, and self-satisfaction.
In the context of downsizing and reducing, two words are often used interchangeably: frugality and minimalism.
It must be noted, however, that these are two different lifestyles: one involves owning fewer things and the other involves spending less on things.
Before you embark on your less-is-more mission, let EcoBlvd help you understand the differences between minimalism and frugality.
What Is A Recession, And How Does It Affect You?
During a recession, the economy significantly declines for months or even years.
An economy is considered to be in a recession when there is a decline in the gross domestic product (GDP), rising unemployment rates, declining retail sales, and a reduction in income and manufacturing.
As we're all experiencing inflation on basic consumer goods and higher interest rates, a recession can put a strain on your finances. During a recession, businesses get fewer customers, fewer jobs are available, and wages are lower.
You can come out of the recession with your finances stronger and your home and self more sustainable if you live frugally or adopt a minimalist approach!
How Do You Live Frugally?
Frugal living is about avoiding waste, overindulgence, unnecessary expenses, and getting the most for your money.
Frugality simply means spending less to create a life you enjoy.
Frugality may not solve all your financial woes, but it can help you cope with a recession.
The trick is to be thrifty and find the best sales and deals with your money, from thrifting, using coupons, mail in rebates, or other means to spend as little as possible, so that you are able to spend more on what you want.
Frugal people usually shop in bargain bins or choose off-brand, lower-cost alternatives, but they tend to buy more.
Saving money and making do with what you have are both awesome benefits of frugality.
Tips To Be More Frugal:
- Don't pay full price
- Get your bargains at discount and thrift stores
- Keep an eye on deal sites
- Make use of coupons
- Consider buying second-hand items
- If you can, find and choose alternatives
- Don't waste it after you buy it
How Does Minimalism Work?
The essence of minimalism is to constantly question your values while adapting to your needs.
When it comes to minimalism, it is a way of life that emphasizes owning fewer things in order to live more simply.
Many people have probably heard of minimalism through Marie Kondo’s methods of eliminating things from your house and your life that do not evoke “joy”, and surrounding yourself with that which makes you feel gratitude.
Living a minimalist lifestyle is all about using only the minimum number of things that are needed to live the best quality of life. In minimalism, limited things are explored in order to discover what is truly valuable.
You can gain a better understanding and put more value on what are considered necessities and essentials by living a minimalist lifestyle during a recession.
Most minimalists don't mind spending a few extra bucks for a few high-quality items that improve their lives, as they will last them, and is one of the few things they own.
Tips To Be More Minimalist:
- Simplify every area of your life
- Clear your home of clutter
- Experiences are what matter, not things
- Donate or sell any clothes you haven't worn
- Focus more on needs
- Do not attach emotions to things
- Pursue what makes you happy
How Are Frugality & Minimalism Important?
Both ideas focus on the idea of intentionality, or having a mindset that is focused on a specific restraint for a centralized goal.
Despite the urge to purge belongings or sell them off to make a quick buck, this option is not as self fulfilling as it seems, as drastic cuts in spending are the best way to see and feel changes.
Generally speaking, minimalism does not produce immediate results. However, frugality does.
This is because the first step to becoming a minimalist is to be frugal.
Since being frugal starts with saving money and living on little money without sacrificing any necessities, it makes you realize the potential and value in what you already have, lending to a more minimalist philosophy.
Thus minimalism, much like sustainability, is a journey as you focus more on your needs while cutting back as you go!
How Are Frugality & Minimalism Sustainable?
Frugality is not only about saving money but is also about being more resourceful.
Those who are frugal tend not to waste a lot, given understanding the value their possessions are worth.
As previously mentioned, minimalism is closely linked to mindfulness. Your true needs become apparent as you become more mindful.
In minimalism, nothing is wasted but donated or given a new life to ensure that all that is owned is what is essential. Each purchase someone practices minimalism makes is with the mindset that the product will serve their needs and last.
By getting rid of excess in different areas, minimalism allows you to pursue your goals. The best way to cut down on your spending is to embrace frugality as a simple means to reducing owning more than needed as well.
Your possessions are entirely under your control, and you can decide what they are worth and how important they are to you.
As a result, you'll have a clearer understanding of how you will spend your money, and what you decide to keep around for its usefulness in your new routines.
Frugality & Minimalism at EcoBlvd:
At EcoBlvd, we believe sustainability is a matter of making wise choices that not only benefit you, but also the planet.
For this, we have created our Roundabout Recycling Program, where you can recycle your old plastic phone cases, chargers, and charging cables, and even receive a discount on future products!
To recycle your old phone cases, chargers, or cables, simply place them in the original EcoBlvd shipping package.
Using the prepaid shipping label included in your order, attach it to your package, covering any previous shipping labels, and send it!
Once we receive your items, you’ll get a 25% discount for a future purchase.
We also offer a welcome discount to newsletter subscribers. Additional sales and promotions may be available only to social media followers, so be sure to follow us to keep up to date with the latest offers!
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Conclusion:
There are times when it is appropriate to live more frugally, considering your expenditures and seeking out the best bargains. However, other times it is more important to consider what you need and limit what you want by being more minimalist.
Both lifestyles are key to understanding your impact and living more consciously, so you can choose which one is best for you on your path to sustainability.
