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Money only gets you so far
The Two Types of People
When it comes to utilizing money, most people fall into one of the two categories. Even if you are a blend of both, your spending habits spill over into one category more than the other.
The minimalist
The materialist
Type 1: The Minimalist
A minimalist is more conscious of what they invest in (Think Warren Buffett, who still lives in the $30,000 home he bought in 1958) and how they spend their money. Owning more things does not bring them fulfillment or peace; it only adds more stress and redundancy to their lives.
“How would I improve my life by having 10 houses around the globe? If I wanted to become a superintendent of housing, I could have as a profession, but I don’t want to manage 10 houses, and I don’t want somebody else doing it for me, and I don’t know why the hell I’d be happier.” – Warren Buffett
Do we really need all we think we need? A minimalist is aware of the hidden costs of having more things, so they refrain from succumbing to what the average person would. Materialism is a trap.
Type 2: The Materialist
A materialist is the category most people fall into. Many people spend their money to accumulate more things, driving themselves into the ground with debt or the heavy toll the accumulation of things takes on their health (e.g., emotionally, mentally, physically, and financially).
Think social media. Think reality TV. Think advertisements.
All of these things promote and encourage their users and watchers to buy more without considering the costs. We live in a society where having more is more accepted than having less.
You are something if you have more stuff.
You are nothing if you have less stuff.
But Wait, It’s Not Just About STUFF. It’s About Money, Too.
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The media and the government love shoving their thoughts, ideas, and the way we should be down our throats. Even though we can’t get the government to teach us personal finance in our schools, we can be sure the government will teach us how to be financially irresponsible. We can also be sure the media will continually preach irresponsible accumulation habits to us all:
Our incomes need to be 6 figures.
We should live for now instead of investing for the long term.
We need to earn more money so we can spend more money.
We shouldn’t live on a budget and implement financial discipline.
What Is Minimalism & Why You Should Embrace It.
Everything a minimalist owns serves a valuable purpose in their lives. The lifestyle is simplified by not investing in things but investing in intangibles such as personal development, relationships, and impactful experiences.
I embraced minimalism in childhood; I was constantly trying to throw and give away my family’s stuff that kept piling up in our home. Now, I consider myself a hybrid adopter of minimalism – not too much stuff, but just enough.
Our society teaches us that having more things and money is an emblem of success and that we all should invest in materialistic things to better our lifestyles. However, minimalism pokes holes in this message – challenging us to question the motives of materialism and the attainment of more money.
“Don’t set your heart on so many things,” says Epictetus. Focus, Prioritize. Train your mind to ask: Do I need this thing? What will happen if I do not get it? Can I make do without it? The answers to these questions will help you relax, help you cut out all the needless things that make you busy – too busy to be balanced or happy.” – Ryan Holiday
“So, concerning the things we pursue and for which we vigorously exert ourselves, we owe this consideration – either there is nothing useful in them, or most aren’t useful. Some of them are superfluous, while others aren’t worth that much. But we don’t discern this and see them as free when they cost us dearly.” – Seneca
“[…] in a society of ever-bigger houses and ever more possessions: [..] there’s a hidden cost to all of that accumulating.” – Ryan Holiday
Minimalism continuously reminds me not to get caught up in the accumulation of things and money; it is too easy to forget that materialism is nothing but an empty pursuit in a world obsessed with things.
When you’re on your deathbed, what will all the things and money you accumulated do for you? You can’t take any of it with you to the grave.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.