Whether you’re an entrepreneur just starting your business, a seasoned business owner with a swatch of employees under your belt, or a stay-at-home parent, minimalism can help you achieve your financial dreams in a variety of ways. You may not think that minimalism when it comes to your business could have a significant impact, but it can and does. Let’s take a look at some ways that less is more, even in the world of money-making.
Minimalism Pads Your Pockets
We all know what it’s like trying to build our emergency funds. Whether you’re making this fund for your business or your family, there are vital steps you have to take to get to a place where you can comfortably start investing in your savings account and emergency fund. When you are spending less on unnecessary items, whether it be at home or in your workplace, you will inevitably have money left over to add to that fund.
Examples of saving in your workplace – how many employees do you need to cover a shift? If your space is small, reconsider how many employees you need working at any given time. You can also increase employee morale because the fewer employees you have, you can pay them a little more while still saving money – win/win! Also, take a look at the decor of your work environment. Studies have shown that employees work more efficiently in offices with a clutter-free and clean aesthetic, so don’t waste money on unnecessary decor. While you don’t need to have a completely sterile office environment, keeping it minimally will pay off. Additionally, if you run a storefront type of business, keep the retail product focused by avoiding unnecessary decor and frills. This also gives a more modern and updated appearance which only benefits you further.
In your home, the same rules of principle apply. Items that you don’t often utilize simply become clutter. Eliminate these items from your home life and make the commitment to stop impulse spending and adding unnecessary items to your household. Your emergency fund will be built much quicker this way, and you’ll have the same peace of mind as the employees, as mentioned earlier.
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Minimalism Impacts The Environment
The less clutter you consume, the less you end up discarding when it no longer serves you. In the same way, you truly treasure and value those things in your life that you invested the most money in or have sentimental value, you will hold onto; the stuff you frivolously bought because they were a good deal or an impulse, you don’t tend to value.
When it comes to your business, implement this by investing in quality versus quantity items for you and your employees. Whether this is higher quality desks, chairs, and office equipment or the type of space you’re renting – you will ultimately be making an impact on the environment by not having to donate or discard the cheaper items when they eventually fall apart.
The same is true in your private life. The initial investment of full electric vehicles may seem out of reach for your family, but the investment pays off in several ways. Firstly you save money on the cost of fuel, which, if you think about an average family going to and from work, school, and extracurriculars, is easily close to $300 a month. Secondly, you have the satisfaction of knowing you’re doing your part in conquering the severe climate issues our planet is facing. So, while a new vehicle may not be on your wishlist, it’s worth considering trading in your gasoline or diesel-fueled vehicle towards the purchase of an electric one.
The same concept of quality versus quantity can be applied to your home life as well, and you will be discarding fewer items that break and can no longer serve you (like cookware, toys, clothing, linens) if you invest in quality items upfront that have the potential to last a lifetime.
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Minimalism Could Change Your Life
Not everyone is open to the idea that less is more – and that’s okay. But, if you give it an initial go with your business and family life, you will see that it can be life-changing. It can boost your physical and mental health as you’ll have more time to exercise that you’re not spending tidying up and organizing the unnecessary items. From a business perspective, you’ll save time in some of the same ways, and you may be able to eliminate the need for a deep cleaning crew as it can quickly be done by one employee in a shift once or twice a week is a way less time than if the work environment is over cluttered.
Small steps that you take today can increase your health, your wealth, your productivity, your employee’s productivity, pay and morale, and so much more. So, consider looking into minimalism to boost all these areas of your life and become more eco-friendly in the process.