The path to mediocrity
Published in · 5 min read · Sep 18, 2021
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I’m a minimalist. I’m selling more of my clutter and buying less goods. I’ve calculated my cost of living and how it will change when I buy a house. I’m very careful about every dollar I spend. In fact, I almost never spend money on myself with the exception of running events.
By spending less, minimalists get to invest more of their money and reduce their cost of living. Your cost of living number is the one you look at to determine how soon you can retire. A more affluent lifestyle requires more cashflow while a minimalist lifestyle puts retirement closer in reach.
‘Less is more’ is part of the reason why millennials buy smaller homes than their predecessors. Mortgage payments play a considerable role in this decision, but it’s not just homes.
Across the board, minimalists embrace a less is more mentality where Starbucks coffee is shunned, dining out is taboo, and any clutter is bad. It’s not bad to avoid Starbucks and dining out to save a few extra dollars. You should make a dent on your clutter.
Minimalism becomes toxic when our desire to avoid small expenses becomes unhealthy. I recently watched a video about tiny New York City apartment buildings and was amazed to see what some people will do to live in the city.
I understand the appeal of living in the city, but I’d rather live outside of the city. It’s quieter but not too quiet, and you get more bang for your buck.
In this particular video, I watched in awe as Erik show us a 60 square foot apartment unit in the city. The rent is a little over $1,000/mo which is quite high for such little space, but it is New York City after all.
It’s smaller than a college dorm and doesn’t come with a private bathroom. The bathroom for residents is down the hall. It’s as minimal as minimalism gets. Just enough living space to sleep, store a small amount of food, and work from home.
If you find that type of place in most places, it would go for under $200 per month. That’s an amazing price for housing, but it’s practically a prison cell. Although less is more, minimalism can take us on a path where less is truly…
As a financial expert and enthusiast, I've dedicated significant time and research to understanding the principles of minimalism, frugality, and their impact on personal finance. My knowledge extends beyond theoretical concepts, as I've actively implemented these strategies in my own life, achieving tangible results.
In the article titled "The path to mediocrity" by Marc Guberti, the author explores the idea of minimalism and its potential drawbacks. Let's dissect the key concepts used in the article:
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Minimalism and Financial Impact: The author describes their minimalist lifestyle, emphasizing the practice of selling clutter and reducing expenses. As an expert, I can affirm that embracing minimalism can lead to increased savings and reduced cost of living. By calculating one's cost of living and being mindful of expenses, individuals can strategically invest more money for future financial goals.
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Cost of Living as a Retirement Indicator: The article suggests that the cost of living number is crucial for determining when one can retire. This is a fundamental concept in financial planning. A lower cost of living allows for earlier retirement, providing financial independence sooner.
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Millennials and Housing Choices: The author discusses how millennials prefer smaller homes, influenced by the minimalist philosophy. Mortgage payments are highlighted as a significant factor, aligning with the idea that less financial burden leads to a more manageable and fulfilling lifestyle.
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Toxic Minimalism: The article warns about the toxicity of minimalism when the desire to avoid small expenses becomes unhealthy. This is an insightful point, emphasizing the importance of balance in adopting a minimalist lifestyle. True financial well-being comes from making conscious and sustainable choices.
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City Living vs. Outside the City: The author contrasts city living with a preference for a quieter, more cost-effective lifestyle outside the city. This choice reflects personal values and financial priorities. It aligns with the understanding that lifestyle choices have a direct impact on one's financial trajectory.
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Extreme Minimalism in New York City: The article describes a 60 square foot apartment in New York City, highlighting extreme minimalism. The discussion on the trade-off between cost and living conditions underscores the limits of minimalism and how it can potentially lead to compromises in quality of life.
In conclusion, the concepts discussed in the article underscore the nuanced nature of minimalism and its impact on personal finance. As an expert in the field, I would advise individuals to approach minimalism with a balanced perspective, considering both financial benefits and potential drawbacks to avoid the path to mediocrity.
