Why Minimalism is the Key to Financial Wellness

Summary

Frugal Friends Podcast Episode Summary Title: Why Minimalism is the Key to Financial Wellness
Hosts: Jen Smith & Jill Sirianni
Release Date: March 11, 2025

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Introduction

In Episode 492 of the Frugal Friends Podcast, hosts Jen Smith and Jill Sirianni delve into the profound connection between minimalism and financial wellness. Aimed at listeners striving to save money, reduce debt, adopt minimalist lifestyles, or achieve financial independence, this episode offers insightful discussions on how embracing minimalism can lead to better financial control and overall well-being.

Overview of Minimalism and Financial Wellness

Jen and Jill begin by distinguishing their focus from typical articles that solely address financial minimalism. Instead, they explore how minimalist practices, more broadly defined, can enhance one's financial health. This holistic approach encompasses not just spending habits but also time management, resource allocation, and personal values.

Key Points from Jules Accree's Article

The centerpiece of the discussion revolves around Jules Accree's article, "How a Minimalist Mindset Impacts My Financial Wellness," which outlines five key ways minimalism can transform financial well-being. Jen and Jill meticulously examine each point, offering their interpretations and real-life applications.

1. Reclaiming Power

Timestamp: [09:47]

Jules Accree emphasizes the empowerment that comes from unlearning consumerism. By resisting the urge to purchase incessantly, individuals can gain confidence in their spending decisions.

• Jill: “She references how unlearning consumerism has really helped her in this process. That as she's gone towards a more minimalist approach, not needing as much...she has increased her own confidence in what she actually wants and an ability to say, no, I actually don't need that.” ([09:49])

• Jen: “In capitalism, the way that you interact like your money is your power. And the amount of money you have is essentially the amount of power you have...it truly helps you feel like you have some semblance of control.” ([12:14])

This shift from impulsive spending to conscious purchasing allows individuals to align their expenditures with personal values, reducing financial stress and fostering a sense of control over their economic lives.

2. Alignment with Core Values

Timestamp: [15:04]

Accree discusses how minimalism helps individuals stay true to their core values, prioritizing what genuinely matters over fleeting trends or societal pressures.

• Jill: “She says being trendy isn't my priority, but feeling good is. When you're feeling good on the inside, the outside will follow.” ([14:58])

• Jill: “Basically, frugality isn't about wanting less but wanting different...we stop chasing the deal...we start being proud of knowing who we are and what we value.” ([15:04])

By focusing on quality over quantity, individuals can ensure their spending supports their true desires and necessities, rather than succumbing to external expectations.

3. Creating Opportunity to Invest in the Future

Timestamp: [19:43]

Minimalism frees up financial and temporal resources, allowing for greater investment in future goals and personal development.

• Jill: “Minimalism has given her space and even the funds to be able to fully fund an emergency fund, have some fun money, have savings and retirement and other investing accounts.” ([19:43])

• Jen: “Good habits stack on top of each other...when we are working on one thing at a time or very few things at a time, which is essentially goal minimalism, we can see more growth in a shorter amount of time.” ([21:31])

This principle underscores the importance of allocating resources towards meaningful investments, such as retirement savings, education, or personal projects, enhancing long-term financial stability.

4. Increasing Efficiency

Timestamp: [25:22]

Minimalism advocates for streamlined processes and efficient use of time and money, often by reducing unnecessary tasks and expenses.

• Jen: “She says repetitive time sucking tasks can be outsourced or delegated...you are saving time at a much lower price point.” ([25:22])

• Jill: “Minimalism can create greater levels of efficiency in our finances and the rest of our lives...not owning as much makes my cleaning far more efficient.” ([26:40])

By eliminating clutter and optimizing daily routines, individuals can focus their efforts on activities that offer greater personal and financial returns.

5. Giving Back

Timestamp: [27:37]

Accree highlights how minimalism enables generosity by freeing up resources that can be directed towards helping others and supporting meaningful causes.

• Jill: “We can give back and we can be generous with all of our resources, not just our money...making room for opportunities to be generous and give back.” ([27:37])

• Jill: “Generosity intersects with all of those categories where we are able to give back to family and friends or at least experience reciprocity...generosity can also be connected to various faith practices.” ([29:18])

This aspect of minimalism fosters a sense of community and fulfillment, as individuals are better positioned to support others through time, money, or resources.

Bill of the Week: Listener Story

Timestamp: [30:37]

In the "Bill of the Week" segment, listener Michelle from Leeds, England, shares her achievement of paying off her car loan ahead of schedule.

• Michelle: “I made up the goal to pay off my car by the end of this year, which I have done...I'm just enjoying that extra money now in time for Christmas.” ([31:07])

• Jen: “I can go get another car because I paid this one off.” ([33:02])

Jen and Jill congratulate Michelle, highlighting the financial freedom and opportunities that come with eliminating debt. This segment reinforces the podcast's message by showcasing real-life examples of financial success through disciplined spending and minimalism.

Lightning Round: Hosts' Minimalism Struggles

Timestamp: [37:04]

In a candid discussion, Jen and Jill share their personal challenges in maintaining minimalism.

• Jen: “My biggest struggle to maintain minimalism is in toys...it's a fine line to declutter toys, but it still has to be done.” ([37:04])

• Jill: “I struggle to get control of mugs and travel water bottles...I have a whole cabinet...it's gotten a little out of hand.” ([39:25])

Their honest revelations provide relatable insights for listeners, emphasizing that minimalism is a continual process with its own set of challenges. By openly discussing these struggles, Jen and Jill offer encouragement and practical perspectives on overcoming obstacles in the journey toward financial and personal well-being.

Conclusion

Jen and Jill wrap up the episode by reinforcing the benefits of minimalism for financial wellness. They encourage listeners to embrace minimalistic practices not just as a means to save money, but as a holistic approach to living a more intentional and fulfilling life. Additionally, they invite listeners to engage with their upcoming comprehensive frugal living course, designed to help individuals implement values-based spending and effective money management strategies.

Notable Quotes

• Jill on Reclaiming Power: “Recognizing that retail therapy is only a temporary fix and maybe even a little bit more of a distraction.” ([09:49])

• Jen on Financial Control: “In a world where you can feel helpless and there is so much out of your control, minimalism and frugality, it truly helps you feel like you have some semblance of control.” ([12:14])

• Jill on Core Values: “We stop being proud of chasing the deal and start being proud of knowing who we are and what we value.” ([15:04])

• Jen on Investment Opportunities: “Good habits stack on top of each other...we can see more growth in a shorter amount of time.” ([21:31])

• Jill on Giving Back: “Generosity can also be connected to various faith practices.” ([29:18])

Final Thoughts

This episode of the Frugal Friends Podcast offers a comprehensive exploration of how minimalism can serve as a cornerstone for financial wellness. Through thoughtful discussions, shared experiences, and actionable insights, Jen and Jill provide listeners with the tools and inspiration needed to cultivate a minimalist lifestyle that aligns with their financial goals and personal values.

For those interested in deepening their understanding of minimalism and its financial benefits, revisiting earlier episodes like "Minimalism for Families with Dawn Madsen" ([earlier episodes]) and "Sustainable Minimalism with Stephanie Spherian" ([earlier episodes]) can provide additional perspectives and practical advice.

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Produced by: Eric Sirianni
Visit: frugalfriendspodcast.com/frugalhome for more resources and to participate in the upcoming frugal living course.

Transcript

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Bank of America hi friend, it's your inner child calling and they want churros, a new toy and a new adventure. Or maybe five with the bestest besties on earth. Find your moment at Walt Disney World Resort. Episode 492 why Minimalism is the Key to Financial Wellness welcome to the Frugal Friends Podcast where you'll learn to save money, embrace simplicity and live a richer life.

[Jill]

Life Here are your hosts, Jen and Jill.

[Jen]

Welcome to the Frugal Friends Podcast. My name is Jen. My name is Jill and today we are talking about minimalism and your finances.

[Jill]

A lot of the articles on the Internet about this topic have to do with how to be minimalist in your finances. And that's a topic too. And that's worth talking about. It's not entirely what we're talking about here though today, more so how the practices of minimalism can also benefit our finances. So a really specific look at it and we think we found some good content to explore together. But first, this episode is brought to you by Take five candy bars.

[Jen]

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[Jill]

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[Jen]

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But this is just what it is and kind of a comprehensive.

[Jen]

This is the lowest financial price it will ever be because we'll be making it as we get your feedback. And it will be tailored to what our audience wants, at least like part, small parts of it. We know what the the big picture will be, but we'll tailor some of it to the people who are taking it.

[Jill]

So if enough of you pre order it at frugalfriendspodcast.com frugalhome then we will make it. And we will make it tailored to what you want it to be.

[Jen]

And if you preorder and if you.

[Jill]

Pre order it and we decide not enough people are interested in this, you're gonna get your money back.

[Jen]

Yes. And it's only open for two weeks. So if not enough people order it within those two weeks, then after that window closes, we'll kind of give ourselves a week to decide and refund it if we don't make it. So that's it. Frugalfriendspodcast.com frugalhome One word that won't even be where it lives forever. It's just where it lives for now. So, all right, let's talk about minimalism, which would be a topic in the course. And so we'll kind of dive into a little overview of what that would be in today's episode. If this is something you're interested in, then episode 434, minimalism for families with Dawn Madsen, is a fantastic episode. Dawn is kind of like the picture of relatability when it comes to minimalism for moms. She is fantastic. We did a book club a few years ago with four minimalism and simple living books. That's episode 366 and then episode 266, sustainable minimalism with Stephanie Spherian. Another really Great interview. So let's talk about minimalism, specifically as it relates to financial wellness.

[Jill]

So this article comes from Jules Accree. It's titled How a Minimalist Mindset Impacts My Financial Wellness. And this is a little bit of a departure from some of our even typical types of articles that we explore a lot. Very holistic, which, you know, we love to talk about that. But I really love the ways that she identifies how this minimalist mindset is impacting her financial life and wellness. She just lists five things, but I like them, so we're gonna go through all five of them. The first one is, in her words, I reclaimed my power.

[Jen]

Yes, I like those words.

[Jill]

And she references how unlearning consumerism has really helped her in this process. That as she's gone towards a more minimalist approach, not needing as much, recognizing that she doesn't want to be purchasing everything that she sees or everything that she's been told to purchase, or even fueled by the words sale, discount, bogo, that she has increased her own confidence in what she actually wants and an ability to say, no, I actually don't need that. Recognizing that retail therapy is only a temporary fix and maybe even a little bit more of a distraction. So she's describing how it's creating confidence to honor her own personal style, align her spending with her values. Does that sound familiar? Not just buying for the sake of buying, not finding identity and belongings, and really being able to make conscious decisions about the clothes that she wears, the things that she's purchasing, being able to make better choices. And so I think as it relates to minimalism, it's not about never buying anything, but it is certainly the opposite of over consumption, which is the world in which we currently find ourselves in, and certainly a world that says you must spend money in order to solve your problems. And it's allowing us that space to slow down and actually look at what is important to me, what matters. Can I put some space in between me and pulling out my credit card and asking myself some of these questions and feeling more confident about the purchasing decisions that I end up making, that when we aren't so accustomed to collecting, buying, impulse, spending, that then we can even have opportunities to get more and more connected to the things that matter to us, how we actually meet those needs, and in the end, we feel a lot more powerful in the midst of that. Saying no is so powerful. When we can feel confident about those nos, we can feel so emboldened in those decisions.

[Jen]

I love the way she said this, because in capitalism, the way that you interact like your money is your power. And the amount of money you have is essentially the amount of power you have. And when you can make informed no's to consumerism, to buying things that corporations want you to buy, you practice power and you retain power. And so it can. In a world where you can feel helpless and there is so much out of your control, minimalism and frugality, it truly helps you feel like you have some semblance of control. It is a small way to have control and in an empowering way I think. So the next one is she says I'm in tune with my core values. And you know we love this one. She says being trendy isn't my priority, but feeling good is. When you're feeling good on the inside, the outside will follow. I value and prioritize inner nourishment instead anything over anything by investing in high quality real food. I think that may be a typo. But she prioritizes high quality real food and non toxic cleaning and skincare products. So when you are, and we say a lot, that frugality isn't about wanting less but wanting different. And I think as women we're marketed to as we should make ourselves as small as possible, we should spend as little as possible. And then we're looking for ways to find identity and to find like purpose. So that has evolved into how can I get as much as possible for as little as possible. And that's why we have this over consumption of cheap stuff without truly knowing our identity, without truly knowing what we value. And when you take away the stuff, when your identity and your power is no longer in how much stuff can I get for as little as possible, we stop chasing the deal. It's not about getting the best deal or getting the most coupons or whatever. We stop being proud of that and we start being proud of knowing who we are and what we value and getting as much of that as possible. Because most of the time it's not going to cost money.

[Jill]

It really is amazing how I mean for me I would consider myself minimalist. We know that there's a spectrum to that. There's no one exact definition. But in having less, not purchasing as often, there really is a correlation. Sometimes not even with a ton of effort on my part, where I am better able to know what's actually important and prioritize those things like what do I actually want to be spending my money on Because I'm not as distracted by all of the things I currently have or all of the things that I could have. I'm so much more aware of, well, how good are my knives working for me? They're working just fine because I put a lot of research into that and got good quality and spend time sharpening them occasionally. So the fact that I have quality over quantity and I feel really good about the things that I already have, it makes me less likely to purchase more and more in tune with the things that I know are really mattering to me. So that correlation can't be understated. I think between whatever minimalism looks like for for us this kind of aim at under consumption, the way that that intersects with deeper identification of core values is so strong. There are a few important things we believe everyone should be doing with their money, one of them being securing term life insurance for yourself. It's one of the best ways to prepare for the unexpected, and we're thrilled to introduce you to a company that gives you coverage and peace of mind in just minutes.

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[Jill]

The next thing that they list on here is that it creates opportunity to invest in our futures. So for her specifically, she's talking about how minimalism has given her space and even the funds to be able to fully fund an emergency fund, have some fun money, have savings and retirement and other investing accounts, but also what she can do with some of the time that she has as a result of not spending so much time time buying or maintaining or cleaning or fixing all of the things that she already owns, but being able to now invest in new learning opportunities, connecting with other women. For her, it's specifically about finances, learning more about investing strategies, but I think I would extrapolate that out further to say that it can create more time to invest in community and relationships and groups and volunteer efforts and hobbies that are meaningful to you. That could mean a run club, it could mean a group that enjoys nature walks. It could mean a book club or a trivia night that you can now engage in and maybe even look for more of these opportunities because again, our stuff isn't taking up as much time, but then also being able to really identify what are the ways that I can put this money towards both things that I enjoy now as well as in the future. Is it travel with? Is it really wanting to make sure that retirement looks great for you? Is it investing in your kids college funds, whatever that means? I think we can find a bit of margin in Our money when minimalism is present.

[Jen]

Yeah, I love how Jules is not a personal finance influencer, but this skill that she's gained in minimalism has helped a free up financial capital for her to save and invest, but also encouraged her and inspired her to master a different skill because of her capabilities with this first one. So like good habits stack on top of each other. When we try to get really good at a lot of things at once, we get good at nothing. But when we are working on one thing at a time or very few things at a time, which is essentially goal minimalism, when we create this mentality of minimalism, then we can see more growth in a shorter amount of time and that seeps in over time. So I think that's really encouraging. And yeah, and then also just the obvious, like when you are buying less stuff, you have more money to invest, which is why we did not write a book about investing, even though we are super passionate about it and believe that all women should be investing. No matter if your partner is investing or you know, you've got kids, married, single, whatever, every woman should have their own, at minimum, Roth IRA and be investing in that, have money in that. But we realize that you can't do that without margin. You can't do that if you're spending everything you make or if you're not creating a plan to invest. And so I just believe that, at least for me, when fewer things are important, the things that are truly important can shine through, like saving and investing. Next she says, I up leveled my efficiency. Minimalism has taught me to spend my time where it matters and do what I can to streamline the rest. So this is such a touchy topic in frugality because a lot of the times this involves hiring out things. So whether it be cleaning or laundry or what have you. And so she says repetitive time sucking tasks can be outsourced or delegated. So maybe that's you, like maybe that is something you're doing or maybe it's something small like you are paying for a meal planning service. And that's obviously like $14 a month versus $150 a month for like cleaning. Right. You're still getting a task off your plate and you are saving that time at a much lower price point. So that's just one of the things. We get so caught up in frugality that we think doing it for the cheapest possible and doing everything yourself is the best way to do things when that is inaccurate. When we take a more minimalist approach, then we value our time more. And we do, we want to do less. And so I would just challenge you to think of the places in your life that you really hate doing these repetitive tasks. They take a lot from you. And think of ways that you can get some of that time back even. Maybe it's cleaning, maybe it's not hiring, Maybe hiring cleaner is not the answer, but maybe it's something in between.

[Jill]

That's the thing. I am totally here for paying for efficiency. I think that there is something to be said for that. And there are certainly seasons of life where that is something we really should have an eye on. But I can also attest to the fact that minimalism can create greater levels of efficiency in our finances and the rest of our lives, just as is, even without needing to buy ourselves efficiency. I mean, for me, I think the fact that my minimalism means I'm not collecting home decor or clothing or kind of any of these ancillary things that I have been able to identify what is enough for me means that my budgeting is a lot more efficient. I'm not having as many spending categories. Looking over my budget week to week doesn't take me as long. I think also just not owning as much makes my cleaning far more efficient. I'm not spending as much time cleaning, fixing things, maintaining things, because I just don't have as much. So there are ways that minimalism just creates room for efficiency, even if we aren't spending money towards it. But there's also room for that.

[Jen]

It's hilarious. I am still decluttering every six months different, like, toys, pantry, whatever. Even though I am not consciously bringing a surplus in. Like, I'm not buying toys for my kids every month. They just somehow come home with stuff all the time. I'm not over buying groceries, but sometimes a meal here and a meal there doesn't get made. And I have extra pantry stuff that I'm not accounting for. You know, like this stuff just happens. And so when you are focused on minimalism and having only what you truly value, you have to do that stuff less instead of like, you know, every couple months, like they're doing on YouTube organizing channels. Like, I'm only doing it, you know, twice a year, sometimes once if it's a very busy season.

[Jill]

This last point is another one that is not often talked about, certainly in the frugal space. But it is giving back this concept of generosity. And Jules mentions here that she's been able to reevaluate spending categories that not over consuming and being really aware and confident in what she is spending on is opening up opportunities to spend more in other areas that matter to her, whether that's contributing time or money. And I think that's a really important point to make, is that we can give back and we can be generous with all of our resources, not just our money. But sometimes money is the most helpful, beneficial thing to other people and organizations. So being able to nourish. Another area of financial wellbeing is making room for opportunities to be generous and give back. And that can mean being able to give to certain causes or individuals, but it can also mean the ways in which we are conscious about how we're spending, whether or not we're buying local, and the ways in which we're investing our money. She's even giving an example of like picking up trash when you see it, supporting a local farmer's market and small business, donating time to help others in the organization or your community, your friends, your family. And this really connects, I think, to really all of the four Fs that we've talked about and is deeply connected with values based spending of family, friends, faith and fulfilling work. That really generosity intersects with all of those categories where we are able to give back to family and friends or at least experience reciprocity. But even then that involves a giving, an exchange of some sort, whether it's time or other resources. And of course it connects with our faith and fulfilling work if we are giving of our time to volunteer efforts or, you know, our faith practices. Generosity can also be connected to various faith practices as well. So this is something that again really connected to minimalism when we are much more aware of how we can spend our time and money on the things that actually matter. Collecting less stuff or spending on things that just don't actually get us closer to our generous efforts or time with family and friends. When we can kind of clear out all the different types of clutter, we can experience these benefits that are deeply rewarding on many levels in our lives and personhood. And you know what else is deeply beneficial to this podcast to us?

[Jen]

In our week, you only catch one per episode because we found that that is the perfect ratio of episode to segment.

[Jill]

The Bill of the.

[Jen]

That'S right. It's time for the best minute of your entire week. Maybe a baby was born and his name is William. Maybe you paid off your mortgage, maybe.

[Jill]

Your car died and you're happy to.

[Jen]

Not have to pay that bill anymore. Duck Bills, Buffalo Bills, Bill Clinton. This is the Bill of the Week. Hi Jen and Jill. This Is Michelle from Leeds in England. I just wanted to let you know about a bill of the week that I had. So it is my car payment. I have been listening to you for a few years now. And I made up the. Came up with the goal to pay off my car by the end of this year, which I have done. I have in fact finished that goal a little bit early. So I paid that final payment in October. So I'm just enjoying that extra money now in time for Christmas. So thank you very much for everything that you do and keep up the good work. Wow. So great, Michelle.

[Jill]

Oh, Michelle, it's so fun listening to your voice. Thanks for calling in from England. That's so fun. It's such a cool reminder that we've got listeners worldwide and how exciting that you paid off your car. You can tell we're a little bit behind on our bill of the week.

[Jen]

Yeah.

[Jill]

Because we're all so excited about the bill of the week. We will get to your bill. It just can take us some time. But we'll still be equally as excited. First of all, I love that you achieved this goal. It's super exciting that you did it earlier than expected. Well done. And I also really appreciate how you're saying some of that extra money that you're now saving, like what you were putting towards this car can now go to other places. And for you, that was more money towards Christmas. And I'm just celebrating this because I think a lot of times once we pay off a debt or a loan, we can think, okay, well now what's the best, most efficient thing I can now do with this money?

[Jen]

I can go get another car because I paid this one off.

[Jill]

Yeah, exactly. But I do like the permission to spend it on something just fun as well as whatever else you ended up doing now that Christmas is over. Because it's kind of like a one time, once a year type of thing. But. But well done. Having permission to spend more in an area that is super exciting to you. And congratulations.

[Jen]

I also think this is a really good, like, maybe inspiration for other people to pay off their car sooner because maybe you're like, oh, no, if I pay off my car, I'm gonna keep that as long as possible. And while you still have a car payment, it's easier to say, oh, I can get another car. I just, I'll always have a car payment. So I'll just get another car. But if you pay that car off and you stop having that car payment, maybe you're less likely to go get another car.

[Jill]

As quickly and your overall transportation costs are going to be much lower throughout life really the longer that you can stay in that paid off car. Well done Michelle. Thanks for calling in. If you all listening have a bill that you want to submit. If it's a bill from another country other than the us, if it's about paying off a vehicle, if it's about paying off a debt, if it's about finding money somehow, some way that you're putting towards a luxury. If your name is Bill frugalfriendspodcast.com Bill, leave it for us.

[Jen]

Are you still quoting 30 year old movies? Have you said cool beans in the past 90 days? Do you think Discover isn't widely accepted? If this sounds like you, you're stuck in the past. Discover is accepted at 99% of places that take credit cards nationwide and every time you make a purchase with your card you automatically earn cash back. Welcome to the now it pays to Discover. Learn [e-mail] credit card based on the February 2024 Nielsen report hi friend, it's your inner child calling and they want.

[Jill]

Churros.

[Jen]

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[Jill]

This is Dr. Laurie Santos from the Happiness Lab. Every runner has a reason, a goal, a story at the Boston Marathon presented by bank of America, there are thousands of athletes who are running for something more than time. This iconic race isn't just about 26.2 miles. It's about making a difference. Runners from all walks of life are pushing their limits on one of the world's most famous courses, and many are doing it to fundraise for causes close to their heart. No matter how you're involved, whether you're running supporting from the sidelines or just inspired by the cause, your contributions are making a difference. The countdown to race day is on. Join bank of America in supporting the incredible runners, their causes and help them reach their fundraising goals. Together, we can Make a real difference. Give if you [e-mail] helpacause references to charitable organizations are not an endorsement by bank of America corporations. Copyright 2025. And now it's time for the lightning round.

[Jen]

What's an area you struggle to maintain? Minimalism. Or identify you're enough. Or maybe where are you? Too minimalist. So my biggest struggle to maintain minimalism is in toys, which is hard because they're not my toys. I once made the mistake of giving away some toys to the thrift store while Kai was in the car with me, and he broke down sobbing. He was like, I was gonna play with those toys. And I was like, well, you haven't. For, like, six months, I've been hiding them, and you haven't even noticed they were gone. I didn't tell him all that, but it's hard. It's a fine line to declutter toys, but it still has to be done.

[Jill]

Yeah. Because if you can't have a ton of control of what comes into your house, you at least can have control of what goes out of it. But even then, once they've set eyes on what could be, it's hard to imagine life with less. And isn't that just a lesson? We all need to learn better to monitor what's coming in. But I understand as a parent that that's not always possible.

[Jen]

If I was gonna say an area I'm too minimalist. It might be kitchen gadgets, because I am a kitchen minimalist, but there are some things that I don't have. And I think cooking would be easier if I did have them, but I just refuse to get them because I don't want to cook. And I.

[Jill]

That was like when Eric, through the pandemic, was trying to get me, like, a legit desk set up. Like, I know that this is not the most efficient way of having an office at home, but I want to be retired, so I don't want to invest in a better setup. Like, for you. I don't want to cook, so I don't want to invest in more efficient cooking.

[Jen]

We didn't get an office for so long or have, like, an actual studio. Like, we just didn't want to. And it wasn't.

[Jill]

I don't want to work Good.

[Jen]

So there is such thing as too minimalist. And there's probably something in your life where you. Too minimalist.

[Jill]

Yeah. I struggle to get control of mugs and travel water bottles. Hmm.

[Jen]

Really?

[Jill]

Yes. Yeah. And most of it, I would not say that.

[Jen]

Would not have guessed those things.

[Jill]

I'm gonna have to show you my cup. I have two cabinets for cups.

[Jen]

What?

[Jill]

Yeah, I've seen your cabinets. I know, I know.

[Jen]

Do you hide them?

[Jill]

The other one is in the laundry room. There's a whole cabinet. I know you wanted vulnerability, and you're getting vulnerability. There's a cabinet in the kitchen, and there is a cabinet in the laundry room with mugs and to go, like, travel water bottles.

[Jen]

Are they all a walla?

[Jill]

They're not all awala, because that's all you use.

[Jen]

Like, I've seen you have different cups, like, different water bottles.

[Jill]

I will. I'll. I'll lose them or I'll break them. But, like, then I. I only use, like, one. But here's. Here's where some of the problem is as it relates to reusable water bottles. We have guests. If you ever hear me come back to a pain point. I do love having guests, but you're gonna hear a smidgen of the things I have to have on hand and the way it rubs against my minimalism. But whenever somebody comes to visit, I, of course, am not buying plastic water bottles. We go to the beach a ton. Like, there's a lot of things that we do with people. So I have extra water bottles on hand that I will fill up for people. So we've just got quite the collection in that way. Another piece of this is that my lovely spouse Will. He is on a mission to always make things as efficient as possible for himself. So he will try out a water bottle. Not really like it. Understand how he wants to refine it, and search for that water bottle and get that water bottle. But then my problem is I won't get rid of the previous one. Then I'm like, well, now we can just use this for guests. And now it's gotten out of hand. Where.

[Jen]

Why don't your guests bring their own water bottles?

[Jill]

Sometimes they do, but you'd be surprised. A good amount of people are not traveling with their own water bottle.

[Jen]

And what do they expect to happen when they get to a place? They just expect somebody is going to give them a water bottle.

[Jill]

They just expect to drink water whenever they get. Like. I don't. I think that there are some people who are not, like, attached at the hip to their travel water bottle. It is not me.

[Jen]

That sounds like their problem, not yours.

[Jill]

Well, but I like being able to provide water bottles to people. And if they were to solve it, I think they'd go and buy plastic water bottles. And so I don't want that in My home. So I have extra water bottles. And even just when we go to the beach, we need to bring more than one water bottle if we're going to be there for a while. So it is good to have more than just the one. It's just gotten a little out of hand. Yeah. And then mugs, like what? You know, Frugal Friends has mugs. And people love to give mugs as gifts and can do a decent job of like limiting that. But we still have. We've got too much. And now I need to refine it. But where I am too minimalist is on decoration. I don't have a single piece of artwork on most of my walls.

[Jen]

Okay, you did put up a piece of art, right?

[Jill]

There's artwork on the wall in the guest bedroom.

[Jen]

Yeah.

[Jill]

And that is it. And I think part of it has helped me to really refine. When I do buy, I'm gonna feel really confident about it. Like I'm not just going to the store and picking out whatever and then changing my mind. I'm coming upon a really clear vision of what I want it to look like. But it does need to happen soon, I think. I think the house is a little bit too sterile looking with nothing on the walls, no tchotchkes anywhere.

[Jen]

It is very minimalist.

[Jill]

It makes cleaning very easy. But yeah, I wanna put some shelves and some plants around.

[Jen]

Yeah, good stuff.

[Jill]

Yeah, good stuff.

[Jen]

Well, thank you guys so much for listening. We hope this helped you re inspired. Re encouraged you to embrace minimalism for all the things it can do for your financial wellness. And if you liked this episode or if you read our book, buy what yout Love without going Broke and you liked it. We would greatly appreciate a rating and review. This one is for the book. It's from JH it's five stars. It says get this book. It'll change your life. This is such an amazing book. I only have great things to say about it. Where do I start? Not only does it feel like you're with friends, but they give great ideas, life knowledge and tips that I can actually apply to my life on a daily basis. I listened to these gals for over four years on podcast and they have definitely changed my life for the better. It is well worth the money and it's sure what and it's true what they say that you get what you pay for. I'm so excited to have added this book to my library and I will use it as a resource for years and years to come. I've also bought it as a gift, because I know it works. Get the book. You'll be so glad you did. And it's a fun read too.

[Jill]

Oh, jh, that's a beautiful review and thanks for recommending it to others. So, so glad. When we hear that our message is really helping people, both on the podcast and through the book. So thanks for listening. Thanks for reading. If you have read the book and you haven't reviewed it yet, please do so wherever you bought it. If you're listening to this podcast now and you're thinking, hey, I never left a review for this podcast either. Wherever you're listening, that'd be super helpful as well. We want to keep helping more people, and that's one of the ways you can help us do that.

[Jen]

Yes. Thank you for listening and we'll see you next time. Frugal Friends is produced by Eric Sirianni.

[Jill]

Okay, so for more vulnerability, this was. So this is something that kind of the bill of the week is. Feels related to maybe, maybe not. Oh, yeah. The possibility of being able to pay off a car. So for the first time ever, Eric and I got a tax refund. And if you listen or if you listen to the book, you can listen to the book. If you read the book, you know my tax story and how awful taxes were for me last year. So this is a welcomed kind of good news experience. We've never, ever experienced getting a refund. And so now it's putting me in this place of, okay, what to do with some of this unexpected money. And we did record a while ago, like, what to do with a windfall, blah, blah, blah. But I'm realizing if given an extra bit of cash that you weren't anticipating, I immediately have, like, 10 different things I could do with it. And I am definitely struggling to kind of. I'm feeling a little bit paralyzed by, okay, but what is the best option for me? Because it is not enough to do all of the things it never is, but it is enough to like, make a bit of a dent in, like, one of these areas. So the things that come up for me are, should I pay down the car more? Should I put more towards my travel sinking fund? Because that's not fully paid for yet. We also have some renovations goals on the house. Lowest hanging fruit is the roof on the garage that's still destroyed from the hurricane and possible foundation damage stuccoing the house, which in some ways is a bit of a, like, flood prevention plan. So, like, definitely has a degree of urgency to it because it can help to really seal up the house. If we do experience a hurricane this year that's as bad or hopefully not worse as what just happened. Yeah, I think those are the different things that are going, oh, oh, increase. Cause we did not max out our Roth IRAs this past year. It's just like all these. Okay. So obviously, okay. Not travel. We can just automatically just went to.

[Jen]

Europe and you a trip to Puerto Rico on deck. You're not putting any travel fund automatically.

[Jill]

X that because that's not pressing. But like all of these other pressing things. But it is. But devil's advocate, because we do say when you come across a windfall, not that this is a windfall, but that you can that some people might say put like 10 to 15% towards something fun. I am definitely tempted to just put it all towards very smart things. That is definitely my bent. But even then it's like the pull in all of these different directions.

[Jen]

What is the interest rate on the car?

[Jill]

4%.

[Jen]

I wouldn't pay off the car early. I wouldn't put it towards the car. That's a good interest rate. I would maybe put a little bit more towards retirement. I think you can maybe play around with some numbers and just see that. I do think your roof repair is pressing.

[Jill]

Honestly, the time it rains.

[Jen]

Yeah. I'm gonna just put that one out there and give my 2 cents is that's probably where I would lean toward.

[Jill]

Retirement and roof repair.

[Jen]

Not even.

[Jill]

It's so exciting, you know, when you think about the possibilities of what this money could do and then to realize, okay, but it really can only do one thing. And so what is that one thing you want to do with it?

[Jen]

Yeah. This year you are going to have to repair that roof.

[Jill]

Yeah.

[Jen]

So do you do it with this money or do you save up other money to do it?

[Jill]

Right. Yeah, that's the.

[Jen]

And you know, like, yeah, what's the choice?

[Jill]

Yeah, yeah, yeah. We did already know this, didn't we? Yeah. I just wanted to talk about all the other things that could be done.

[Jen]

Of course. And that dream a little. That is your right as a podcast host. Oh.

[Jill]

Home ownership.

[Jen]

Talk about things. I know it's not the American dream, but. But it is one way to survive capitalism.

[Jill]

Yeah, I know. That's the thing. It's like there's a part of me that condo living looks so alluring to me, but I'm like, that's what they want.

[Jen]

That's what they want. And then the Akate me, the condo association is just.

[Jill]

They want to placate me by thinking that like, oh, I can have a life just by being able to have access to a public pool.

[Jen]

No, it's not right.

[Jill]

And then I don't have to own. And then they can buy up all of the single family homes and now we're all just stacked on top of each other.

[Jen]

You gotta fight back. And this is your way to fight is repairing your roof. It's how you fight back.

[Jill]

Oh yeah, you're right. Prioritization is key. Okay, you got this. I'm gonna go fix my roof now.

[Jen]

Bye.

[Jill]

Okay, bye.

[Jen]

When you're with Amex Business Platinum, you have the card that works as hard as you do with a flexible spending limit that adapts with your business. That's the powerful backing of American Express. Not all purchases will be approved. Terms apply. Learn [e-mail] AmExBusiness this is Dr. Laurie Santos from the Happiness Lab at the.

[Jill]

Boston Marathon presented by bank of America. Thousands of runners are raising funds for life changing causes and you can help make an impact. Visit bofa.com helpacause to donate and support a runner's fundraising efforts. Together we're making a difference. One step at a time. What would you like the power to do? Bank of America hey, it's Ryan Seacrest.

[Jen]

For Albertsons and Safeway. It's stock up savings time now through March 25th. Spring in for store wide deals and earn four times the points look for in store tags to earn on eligible cleaning items from all and Cottonelle and dinner essentials from Daisy, Skippy, Hellman's and Barilla plus many more. Then clip the offer in our app for automatic event long savings. Stack up those rewards to save even more restrictions apply. Visit Albertsons or Safeway.com for more details.

[Jill]

It's tax season and by now I know we're all a bit tired of numbers.

[Jen]

But here's an important one you need to hear.

[Jill]

$16.5 billion. That's how much money in refunds the IRS flagged for possible identity fraud last year.

[Jen]

Here's another 20%. That's the overall increase in identity theft.

[Jill]

Related to tax fraud in 2024 alone.

[Jen]

But it's not all grim news.

[Jill]

Here's a good number.

[Jen]

100 million.

[Jill]

That's how many data points Lifelock monitors every second.

[Jen]

If your identity is stolen, LifeLock's US based restoration specialists will fix it, backed by another good number, the million dollar protection plan.

[Jill]

In fact, restoration is guaranteed or your money back.

[Jen]

Don't face identity theft and financial losses alone. There's strength in numbers with Lifelock Identity theft Protection for tax season and beyond. Join now and save up to 40% your first year.

[Jill]

Call 1-800-LIFELOCK and use promo code iheart.

[Jen]

Or go to lifelock.com iheart for 40% off terms apply.