Simplifying your finances can be incredibly fulfilling and powerful.
Benefits of Simplifying Finances
When you simplify your finances (and your life), you can gain so much more than positive cash flow.
You also gain:
- More Options: We don’t have control over most things, but if you’ve simplified your life, you tend to give yourself more options. Laid off from your job? Having some savings tucked away gives you time to explore and find the next job/career that fits you.
- More Time: With less stuff around the house, you need less time to maintain, organize, and store them.
- Less Distractions and Stress: Life can be difficult already so it’s smart to remove needless stress. Some of the most successful people have found reducing their wardrobe a boost to their day and gives them energy for more important endeavors.
- Financial Independence: As you remove useless expenses you also lower your needed living expenses. Quite a few people have mastered living below their means and used that to retire early and/or becoming financially independent.
It’s a process where you shed the useless and shift your money towards what matters most to you.
Who doesn’t want that?
I think most peoples’ hangup (including us) is how boring the process can seem.
I’ve been writing about personal finance for about a decade and very few people get excited about breaking things down and filling up a spreadsheet.
But I’ve also learned the secret to getting people who are numbers adverse to start not only tracking their money, but changing their spending.
Here it is –
Defining their WHY and Keeping Reminder of It
Thoughts on Simplifying Finances
I’d love to get your take. How has simplifying your finances affected your life? How did you make the transition?