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On Monday I wrote about reconnecting with my “why.” I’ve spent a lot of time thinking very deeply about life in general, moving forward financially, and the importance of making financial choices that are 100% in alignment with my values. When I switched from working my 9-5 to online digital entrepreneurship I knew that it would be an intense journey. What I didn’t realize was that what I would struggle with the most was mindset. As I’ve worked on my mindset I’ve also begun to embrace a new and freeing way to live-I’ve accidentally embraced minimalism.
YOLO
In Western countries, especially in the U.S. we are driven to think about now vs. thinking about now and the future. YOLO! You Only Live Once is not only a pop culture mantra, it is also a book written by a friend of mine, Jason Vitug.
This book perfectly articulates the complexities of the connection between mindset and how you actually are living your life. I must admit that I’m relieved to find that I’m not the only person who has struggled so intensely with managing my mindset. In order to get a handle on my money I’ve
- Stopped shopping for a year
- Stopped grocery shopping and used what I had
- Did a number random challenges that have helped me deal with my mindset.
Minimalism
It has taken 5 freaking years to be 100% bought into why I’m doing what I’m doing. I get it now. I am now comfortable meeting a new guy and being able to articulate my financial plan. I have very clear goals and strategies to move myself forward.
Switching to online entrepreneurship threw a huge wrench into my plans because I had to learn how to manage an unpredictable cash flow. This is an ongoing process that I’m still working on but I am finally making progress with cash flow management.
I am also finding that I am less and less interested in doing anything that isn’t in alignment with my values.
I now prefer:
- Doing things that incorporate spending time with the people that I love. I prefer to do activities that are free and include activity. So I’m doing a lot more: hiking, walking around, hanging out on patios, and as soon as I fix my bike-riding my bike.
- Visiting with the people that I love-Just spent the weekend with my Grandma. I feel INVIGORATED.
- Working on fitness. I’m training for a 1/2 marathon and also want to be bikini ready for FinCon in San Diego. I want to be fit in general so don’t judge LOL!
- Eating good food. I love to eat good food. I also love to cook. But, I’ve just flipped what I used to do. I try eat out once every couple of weeks with friends.
I should be clear and say that I’ve always valued the four areas of focus listed above but that I’m now utilizing an actually strategy that keeps me accountable and mindful of using free goods and services and making mindful substitutions so that I can use earned income towards growing wealth and maintaining financial security.
I Killed My Shopping Habit
My shopping habit is dead. I still love new things but I just find that I am using what I have a lot longer and with a deeper sense of intention. I just don’t want to bring in new things into my home until the old stuff is no longer in usable condition.
Also, now that I’m working for myself I am VERY clear on the value of my money. When I think about purchasing new things I am also thinking about the amount of time it took to earn the money that I’m about to give to someone else. That really changes your perspective when it comes to spending. I have to pay 30% tax on my earned income. I would rather have the freedom to work for myself but there is an actual price that I’m paying to work for myself so other things have to be let go in order to continue working for myself.
And, I’m ok with that.
25 Things a Day
I’m committing to eliminating 25 items from my home on a daily basis. I want to clear my home so that it has a Scandinavian minimalism esthetic. You know-everything is absolutely beautiful and in the place that it’s supposed to be in. I believe this will be a therapeutic process and Jason also talked about doing something similar as he zeroed in on his debt repayment process.
I’m moving deeper into this process and have talked about minimalism on and off during the past year. It’s an ongoing process and I’ve also noticed how much other people want to give you stuff! I am saying “no” to a lot of things that I just don’t want. I don’t want these items in my home, I don’t want to care for them, I don’t want to look at anything other than what will bring me happiness in my home.
The interesting thing is people get a little offended when you say no to the stuff that they would like to give you. All I want to do is spend time with people. That’s it. And, with the exception of books, shoes (which I don’t need), airline and coffee gift cards…I really don”t want anything except a SUBSTANTIAL amount of cash and my bills paid. That’s it. That’s all I want. And a boyfriend.
Easy.
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Mindset is the hardest. Too much of financial advice is about the math and not enough about the mindset. It is much harder to really grasp how your mindset effects every decision you make! I embraced minimalism years ago and have never looked back. Things need to be either useful or beautiful to enter my house. Lately I have expanded the idea to the concept of enough, which is a personal preference. People get confused about minimalism eliminating everything. To be it is about eliminating the unnecessary…however you define that!
Getting my mindset in line with my actions and values has been THE hardest thing that I had to deal with on my financial journey. I’ve finally go the mindset tackled (only took 5 years) now my goal is to earn more money and tackle my remaining bills.
Oh yes I do the same question before buy new thing, I think about the amount of job I need to work to pay that determinated thing…for the rest is really interesting eliminating 25 things on daily basis!!!
Now that I work for myself I am VERY clear on the value of each hour worked. I do not want to wast money on stuff that doesn’t matter. I have to truly love something in order to buy it.