Resolve Your Financial Problems Through Minimalism

You might be one of the many people who struggle financially. Your salary is insufficient to fund your monthly expenses. More so, your credit card invoices and debts are strangling you so intensely.

While there are many ways to increase your income, these might be unmanageable to do, if not more tiring, as these steal your valued time to relax and relish life.

Our usual fix is to work overtime, sell goods, perform services, or do part-time jobs to bring in an extra income. Many of these activities are so excruciating. With a full-time job of 8 to 12 hours, utilizing your spare time to earn more would be endless torture.

Yes, you would earn more, but the question is, “Are you happy?” Those activities deprive you of resting, relaxing, and savoring life. No wonder people today are so stressed and are just living a paycheck after the other.

In theory, there are two ways to increase your money: maximize your earning and/or minimize your expense.

If you make 1000 a month and your disbursement is 1100, then you are in a deficit by 100.

There are two options to solve this problem:

  1. Perform a part-time job to earn an extra 100; or
  2. Trim your expenses by 100.

Here is where minimalism comes in. Financial minimalism is done by cutting down unnecessary expenses. You are utilizing your money to buy only the needs and not the wants.

Needs are those you CAN’T live without, such as basic food, clothing, and shelter. Wants, on the other hand, are things a person CAN live without, such as toys, a mansion, car, air conditioning, smartphone, etc.

In 2014, I paid AED2900 monthly to rent a room. Today I’m paying only a rent of AED1900. With no increase in my income, I managed to save AED1000 a month.

I could have remained in the same AED2900 room but without savings. Instead, I had lessened my rental expense and built a substantial stock market investment portfolio using those AED1000 savings.

There are many things you possess that are not really of use or maybe of less importance to you. That blender, vacuum cleaner, toaster, expensive painting, or chinawares you have not used for almost a year now has to go. You can trade it for a profit or donate.

Before you acquire something, ask yourself first, “ Can I survive without this?” Remember to buy only your needs.

Many of us are living a lavish lifestyle but are buried in debt. Sell that car you have and close your liabilities once and for all.

Stop frequenting to expensive restaurants or cafes to flaunt your captured Instagramable photos.

Minimize that out of the country trips if those are not needed to survive life.

Give up buying your child a toy if he already has over ten toys. Instead, spend more time with him and establish meaningful interactions and experiences.

For OFWs, lessen the instances of sending Balikbayan boxes instead treat your kin with a simple gathering where you can improve more on interpersonal relationships and create meaningful conversations.

Material things can bring temporary happiness. Once the shoes that you gave become ripped off and disposed of, that person won’t remember you. Only the happy memories and fun experiences happened on a simple gathering like a night swimming, videoke party, sports match, or short trips will be relived forever.

By slowly removing unnecessary elements, you can to save money and concentrate your time and effort on more essential things such as family, business, and your dreams & aspirations.

We are living in a consumerist generation where we are encouraged to work hard, spend, go into debt, and work harder to get many of the best the world can offer—thus ended on living a pitiful life.

By being a minimalist, we instead focus on our personal development, family, spirituality, living sustainably, and contributing to the common good of society. This promotes a significantly higher level of life satisfaction and more experiences of pleasant emotion.


EarnPeso holds no control over your financial fate. It is here as a guide. Exercise prudence in every investment or business you undertake, and success will follow.

I hope this article provides you essential information to improve your finances. Check Finance Tips for more insightful essays.

Do you have any questions? I would love to hear from you. Please leave a message in the comment box below or follow and message me on Facebook.


  1. What’s behind the rise of minimalist living?

Author: Jundril Colita

Jundril Colita is a Filipino expatriate based in Dubai. An entrepreneur/investor and a minimalist who loves traveling.

One thought on “Resolve Your Financial Problems Through Minimalism”

  1. Stop frequenting to expensive restaurants or cafes just to flaunt your captured Instagramable photos.

    Minimize that out of the country trips if those are not needed to survive life.

    I think you should spend money on experiences rather than objects. So i disagree with those two statements above


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