Why Minimalism is Good for Your Life…and Finances

March 7, 2023
If you've ever considered a minimalist lifestyle, here are 8 reasons why minimalism is good for your finances...and your life.
Britt and Laurie-Anne two women laughing and looking at their computers on a couch in a well-styled living room
Britt & Laurie Anne
Two female investors in their 30s with a collective net wealth of over $6 million+
Learn more
arrow right icon

Minimalism has become a bit of a buzzword these days, and as a result, there are a lot of different ideas about what “minimalism” actually means and why minimalism is good.

Let me clarify what it means to me, but of course, you’re welcome to have your own definition.

To me, minimalism is a lifestyle that de-emphasizes material possessions so that you’re free to live with more intentionality, purpose, and spirituality. It’s choosing to break away from the over-consumeristic world we live in in favor of a simpler life, one that’s unbothered by mental and physical clutter.

Having a minimalist mindset has transformed the way I approach finances and life for the better. Here are a few reasons why minimalism is good and why I’ve chosen to embrace minimalism:

1) I have more time and energy

Instead of wondering what to wear each day, I pick out one of the 30 or so outfit options I have in my dresser. When something is missing, there are only so many places I can look, so I usually find it pretty quickly. When I’m shopping for new clothes, there are only a few items that match with my neutral style, so shopping is pretty fast and easy.

Taking a minimalist approach to life means I spend less time on things that don’t bring me joy — like shopping -- and more time on the things that matter most to me -- like time with friends, or contributing to creating a better world.

2) There’s less clutter

Now, it helps that my husband and I are both incessant tidiers.

But when I say “less clutter,” I mean both mentally and physically.

Clutter adds stress.

There are actually studies that show how a cluttered home makes people feel out of control, whereas when you’re in a clean, uncluttered space, you feel more in control.

Think about how many times you’re trying to run out the door but you can’t find your keys or your phone, so you’re shuffling around all of the papers on your kitchen counter or digging through your purses trying to remember which one you used last.

In my case, we have one dish where the keys go, and I have one bag that I take to work, so I know it’s in one of those two spots and it only takes me a few seconds to find them.

That also leads to…

3) Greater peace of mind

I don’t have to stress about keeping track of all my belongings, finding things when they’re missing, and most importantly - I don’t have to stress about trying to make a lot of money to either keep up with the Joneses, or buy things that don’t add value to my life.

This one is often underestimated, but the peace of mind that comes from not trying to keep up with anyone else, I imagine it’s adding decades to my life expectancy!

4) More money

When you choose to own fewer things, you spend less by default, which means saving money (I know, it’s a pretty simple equation).

When I do buy things, it’s thoughtful and intentional. I don’t buy things that I don’t need and won’t use, and that means I have more money to invest for the future or travel or donate to causes that mean a lot to me.

5) Cleaning is faster and easier

I’m the type of person who craves a well-organized, uncluttered space. I can’t relax when there are dirty dishes or random things scattered all over the house.

Owning fewer things means that there are fewer things to keep organized, which means my house stays cleaner and tidier.

We actually have a fairly small house, so things like vacuuming and dusting are also much easier and faster.

6) It’s more environmentally friendly

Consumption takes a toll on the environment.

Everything from pollution caused by manufacturing and shipping, to the packaging materials, all adds up. Owning less and buying less reduces our environmental impact.

On top of that, because I buy less, I’m also able to afford higher quality products that last longer and are less likely to end up in a landfill in a short amount of time.

And I realize that a lot of people out there are just trying to get by. My goal isn’t to shame you for buying things or not being able to afford higher quality things. I understand that isn’t realistic for everybody. These are just a few ways that minimalism has helped me lead a more sustainable, environmentally friendly lifestyle.

7) Clarity on who I am and what’s important

The whole point of minimalism is to free up time and space to focus on what really matters.

For me, it’s allowed more space for spirituality, contributing to a better world, or spending time with the people I love.

Having the space to do those things has helped me know myself better and really clarify my values and what gives meaning to my life.

In short, minimalism forces you to trim the excess from your life and get rid of things that distract you from what really brings you joy.

8) More gratitude

By owning fewer things, I’ve learned to become more content with what I already own. It’s helped me develop a deeper sense of “enough” instead of always pursuing more. I’ve become more aware and grateful for the things I use regularly and have special purposes in my life, like my basket that I use every day or the gold earrings I wear almost every day.


A minimalist lifestyle will look different to different people. You get to choose what minimalism means to you. It might not mean moving into a tiny house or donating all of your clothing, but it might mean being more intentional with your Amazon purchases or borrowing a dress for an event instead of buying a new one.

Simply choosing to be more intentional with the things you buy can transform your finances – and your life.

A Weekly Sip of Our Best Advice

Join 500k+ women getting practical financial tips and empowering strategies with the Dow Janes newsletter.

We respect your privacy. We'll use your info to send only what matters to you — content, products, opportunities. Unsubscribe anytime. See our Privacy Policy for details.

More Like This