10 Hacks Minimalists Always Use to Save Thousands Yearly
Minimalism isn’t just owning fewer things; it’s about creating more space for what matters most, including a healthier financial future. If you’ve been wondering how minimalists always seem to have their lives (and budgets) together, the secret lies in their simple, intentional choices.
The good news? You don’t need to toss out all your worldly possessions to reap the rewards of a minimalist lifestyle. These ten hacks, inspired by minimalist principles, can help you save thousands each year while reducing stress and financial clutter.
Thrifty Thinking: Minimalists don’t just declutter their homes; they declutter their spending habits too. Just by questioning impulse purchases, they often save hundreds a month.
1. The “Need vs. Want” Test
Minimalists master the art of questioning every purchase by asking one simple question: Do I need this, or do I want it? It sounds basic, but this practice can stop you from spending on things that will end up collecting dust.
Here’s how to make it work for you:
- When you’re tempted to buy something, take a 24-hour pause. If you still feel strongly about it the next day, it might be worth considering.
- Set clear guidelines for what counts as a need (groceries, utilities) and what’s a want (trendy décor, the fifth pair of sneakers).
This “pause and assess” tactic doesn’t just help you save money; it also eliminates buyer’s remorse.
The 24-hour rule is all about giving yourself time to think. According to Bankrate, waiting a full day before buying something helps you cool off from the excitement—so you can decide if you really need it.
2. Adopt a Capsule Wardrobe
Fashion minimalists know the secret to saving money on clothing is simplifying their wardrobe. A capsule wardrobe consists of versatile, high-quality basics that can be mixed and matched effortlessly. Instead of chasing trends, minimalists stick to timeless pieces that outlast fads.
Not only will this save you from overspending every season, but it also means fewer mornings spent panicking over “having nothing to wear.” Bonus points for reducing laundry loads, too!
Stick to neutral colors and classic styles for maximum versatility. Think black jeans, white tees, and neutral blazers that work across outfits and occasions.
3. The Power of Borrowing
Why buy when you can borrow? Minimalists love cutting costs (and storage woes) by borrowing instead of owning items they use infrequently. From borrowing books at the library to tools from a neighbor or even sharing appliances among friends, this hack helps save serious cash.
Apps like Neighbor or locally organized lending libraries make borrowing even easier. This practice doesn’t just save money; it builds a sense of community too.
4. Shop the “One-In, One-Out” Rule
Every minimalist’s secret weapon is the “one-in, one-out” rule. This means every time you purchase a new item (say, a pair of jeans), you commit to parting ways with an old one.
Not only does this keep your space clutter-free, but it also forces you to evaluate purchases carefully. Ask yourself, “Do I love this enough to replace something I already own?”
This hack puts a powerful mental check on spending. And when you declutter, selling or donating old items could make or save you money in the process.
5. Meal Planning Like a Pro
Minimalists approach groceries with laser-sharp focus, and meal planning is a major part of their savings strategy. By creating weekly meal plans and shopping lists, they avoid the “eating out trap” and stick to their grocery budgets.
Here’s the magic formula for simple meal planning:
- Plan 5-7 meals with overlapping ingredients to minimize waste.
- Batch cook and freeze extras for those busy weeknights when takeout temptation looms.
Pro minimalists even limit pantry staples to the essentials (like rice, beans, and pasta), avoiding overstocking items just because they’re on sale.
According to the USDA, the average American household wastes $1,500 worth of food annually. Meal planning slashes that figure significantly.
6. Declutter Financial Subscriptions
Streaming services, magazine subscriptions, gym memberships... it’s easy to rack up monthly charges. Minimalists regularly review their subscription services to eliminate ones they no longer use or enjoy.
To decide which to keep:
- Track all your monthly subscriptions on a single list.
- Cancel anything you haven’t used at least twice in the past month.
- Opt for annual payment plans if discounts apply (but only for services you genuinely love).
Cutting out just a handful of unused subscriptions could lead to hundreds of yearly savings.
7. Reuse, Repurpose, Reimagine
Another minimalist money-saving trick? Giving new life to things you already own. Before buying something new, minimalists see if they can make do with what they’ve got.
- Turn empty glass jars into storage containers.
- Use old T-shirts as cleaning rags.
- Transform furniture with a coat of paint instead of splurging on replacements.
Minimalists save not just by purchasing less but by maximizing the value of items that are already under their roof.
8. Invest in Quality Over Quantity
This might sound counterintuitive, but minimalists save more in the long run by purchasing higher-quality items, even if they cost more upfront. Cheap gadgets, fast fashion, or flimsy furniture often break quickly, requiring replacements that drive up costs over time.
By choosing durable and timeless options (even if they’re pricier), minimalists stretch their dollars while reducing waste. Think of it as the opposite of “buying cheap and buying twice.”
Look for lifetime warranties on higher-cost investments like cookware or bags. These guarantees can save money down the line if repairs or replacements are needed.
9. Set Boundaries Around Lifestyle Inflation
When income increases, spending often rises along with it. Minimalists sidestep this trap by living below their means, even as their finances grow.
Instead of upgrading their lifestyle at every raise, minimalists funnel extra funds into savings, investments, or paying off debt. Sticking to your existing standard of living when you earn more ensures you always save a comfortable buffer instead of barely scraping by each month.
10. Master the Art of Saying No
Here’s the minimalist hack you won’t hear often enough. Saying "no" to unnecessary social commitments, sales pitches, or even well-meaning hand-me-down clutter can save your wallet and your sanity.
Minimalists avoid feeling pressured to follow trends, attend every event, or say yes to items they don't need. This isn’t just good for your finances; it frees up time and mental energy for things you truly value.
Being intentional about your choices translates into smarter spending and a more aligned life.
Final Thoughts
Minimalists don’t live under strict rules or joyless deprivation; instead, they practice a lifestyle that allows them to enjoy the things that truly matter. By adopting these 10 minimalist hacks, you can align your financial habits with mindfulness and intentionality, ultimately saving thousands of dollars every year.
Start small, adopt one or two tips at a time, and watch as your savings grow and your life becomes simpler, more meaningful, and happily less cluttered.
