Minimalism vs Frugality

029 | The Aspiring Minimalist vs the Reluctant Frugalist

You only get so many choices before your time runs out.

I want to change our financial future. I want to spend more time with you. I want to be happier I want to create wealth that’s going to last for decades. (16:34)

Minimalism versus Frugality: Can They Coexist? (23:43)
by Physician on FIRE

  • “A minimalist will pay top dollar for a high quality item that serves multiple purposes. A frugal person will own multiple items that each serve an individual purpose.”
  • “A minimalist has a small wardrobe. Quite possibly brand-name and purchased new. A frugal person has an expansive wardrobe, quite possibly purchased used.”
  • “A minimalist reads online, purchases e-books, and may have a Kindle Unlimited subscription. A frugal person has shelves full of books, many purchased used, already read, and untouched for years.”

While our motivations are polar opposites, the space that we inhabit are relatively similar.

The 90/90 rule: if you haven’t used it in the past 90 days and you won’t use it in the next 90 days, you can let it go.

The 20/20 rule: don’t hold on to just-in-case items if you can replace them for under $20 without going more than 20 minutes out of your way.

Our brains are freer when we don’t have clutter.

Decision fatigue.

The fewer decisions you have to make in a day, the more optimally your brain works. (45:58)

You are freed from the attraction and addiction to stuff, and you realize that the ultimate goal is your time and your freedom.

I lean minimalist.