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The materialism vs. minimalism debate
What I Don’t Have
I don’t have financial obligations that would restrain me to one place.
I don’t have subscriptions or memberships I can’t live without.
I don’t have a car note.
I don’t have debt.
What I Do Have
A one-year emergency fund.
Low-cost-living situation.
Few possessions.
Investments.
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The Storage Example
Where does all of this leave me? In a healthy financial situation. I can move freely and am not bogged down with obligations or financial responsibilities like many people.
Some people have so much stuff they end up spending money on storage. The worst part about it is they never use that stuff, so they’re just wasting money every month.
The Car Note Example
I was reading one of Rocco Pendola’s articles about how so many people are bogged down with expensive car notes, which is 100% true. Though my first car note about a decade ago was $245 a month, it was technically not the best financial decision for me then, so I rushed to pay it off in 3 years versus six years.
I’m still driving that car today; it gives me few problems, and it’s paid off. It doesn’t get any better than that. Will I get a new car? Yes, eventually, but for now, I do not need one.
What’s The Ultimate Reward For Materialism?
What is the ultimate reward for having the car, the house, the lifestyle, the fashion, the trips, the recognition, and the social media flexes if it only leads you further into debt? Furthermore, what is the point of all of that if you’re only goal is to show it off? Nothing.
Empty pursuits lead to nowhere. Is there anything wrong with the accumulation of stuff? No. But there is something wrong when your desires lead you into financial bankruptcy.
Show me your bank account, not your car, not your house, and not your closet.
Most people don’t have much to show for themselves in cash, investments, or real estate.
What does your portfolio look like?
Are you more proud of the stuff you’ve accumulated or the wealth you’ve built? For most people, the answer to this question is the stuff they’ve accumulated.
What’s The Ultimate Reward For Minimalism?
Freedom. When you have less, less owns you. You have more opportunities to move freely. You’re not overly focused on income goals either because your standard of living is so cheap. Instead, you can focus on doing meaningful work, which will ultimately lead to building wealth.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.