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building true wealth: minimalist habits that have helped me achieve financial and personal success

Writer's picture: Sonal SahaniSonal Sahani

Updated: Mar 13, 2023


As someone who used to spend a lot of money on buying things, I can confidently say that material possessions make little to no difference in our lives. That dress you bought last week is no different from the five others in your closet, and that expensive hair dryer works more or less the same as the affordable one. The things we buy don't add long-lasting value to our lives, and being material rich is a surface-level and vulnerable state to be in.


Realizing this made me question what I was working towards in life. Our society focuses so much on being material rich instead of being life rich. But ever since I became a minimalist, I've been building a life according to what true wealth means to me. And on top of that list is my health, mental well-being, relationships, time, and experiences.

In this blog, I want to share five of the most important minimalist habits that have helped me achieve financial and personal success:

  1. Know your point of diminishing returns: A well-known study on happiness and money found that happiness increases with income, but there is a point of diminishing returns at around 75,000 to 120,000 per year. Knowing how much you need to live a good life is the ultimate guide to balancing out your life. Once you meet that goal, the surplus won't add any more value to your life.

  2. Embrace lifestyle inflation: There's no shame in working hard to afford a better life for yourself. However, if you're not in control of your finances, lifestyle inflation can be a slippery slope. What was once considered a luxury can turn into a need, and you may not be able to save for those bigger purchases that might have a bigger impact on your life.

  3. Keep your lifestyle the same: I keep my lifestyle pretty much the same, even though I earn more money now. This has given us more room and flexibility to spend towards things outside of our normal budget when we really want to and need to.

  4. Invest in your well-being: Investing in our well-being is equally as important as investing our money. Buying a stand-up desk if you work from home, going out for lunch on Mondays to have something to look forward to, or signing up for a group membership because you want to belong to a community are all great ways to invest in your well-being.

  5. Don't compare yourself to others: The other day, I watched interviews of people in their 70s and 80s, and they were asked to give one piece of life advice. A shocking majority of them had a similar answer, which was to not compare ourselves to other people. Comparing ourselves to others only leads to unhappiness and dissatisfaction.

In conclusion, building true wealth is about more than just accumulating material possessions. It's about investing in ourselves, our well-being, and our relationships. By adopting these minimalist habits, I've been able to achieve financial and personal success while still being satisfied with my lifestyle.

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