Minimalism is Helping Me to Reach FI

Minimalism is helping me in my efforts to reach financial independence and create the life that I want. The focused attention help me get my life in order and experience contentment.

After decluttering, I resolved that everything I welcome and keep in my life should add value to my life NOW. Be it friends, situations, things, commitments, work or time.

Decluttering was like removing the rock particles to see the diamond. It is like starting with a blank slate with some stash of the essentials. I uncovered that warm fuzzy feeling buried underneath the clutter in my life. It is a feeling of security. A feeling of lightness. And more freedom. I realized that most of the things I need, I already have.

Life can be stressful but with minimalism things became more manageable.

There are many forms of clutter. When it comes to finances, it is debt, in relationships it is toxic people. They don’t add value to your life, instead they drain away the joy from your life.

In other words I was looking for simple living, ease of life and contentment.

HOW?

The first step is to stop buying random things. Just stop for a while. This isn’t easy at all. But it feels good if you win over your impulses because you have a more important goal.

For me the second step was to :

Declutter – As suggested in the book of Marie Kondo, I decluttered by category such as books, clothes,electronics.

Now I actually read and learn from this 1 book on taxation. I now read e-books.

Digitize -  I only kept hard copies of documents that are really important.

Photo is from Shopee where I bought this item.

Unsubscribe – I unsubscribed from cable TV and mobile phone plans.

WHERE I AM NOW

I am wearing out all of my clothes.

SOME OF MY MINIMALISM GOALS

Having only one errands bag

All my personal things fit in a backpack and a luggage

Create a capsule wardrobe

No buy challenge

Earn a good per hour rate in a job I like

FINANCEWISE:

On end of year, I will compute my savings rate as well total annual expenses. I have been recording my income and expenses in 2021.

I will still stay on my high stress, not so high salary job and benefit from the 50%< savings rate I get from it. But this will be subject for review.

A huge milestone will be in 2024, when my GSIS policy matures and my outstanding loans will be paid off.

I am following the slow fi approach by thefioneers blog where slowly the money needed to be earned from active income is reduced as passive income increases. I am looking into coast fi once I leave my current job in a few years.

Minimalism is a tool on finding our own version of happiness in this world

Tidbits42