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Welcome to the first minimalist revolution post here on The Money Sprout! Several times per month I plan to take small steps towards minimalism by selling off unwanted items around our home.
Selling off unwanted items has two different benefits. First, selling unused items (toys, sporting goods equipment, electronics, etc.) should generate a little side income. Any extra money that comes in will then be deposited into our investment challenge account.
In case you missed it, we are building an investment challenge account that will be used to buy dividend stocks. This account will be funded from extra savings, side income streams, and any windfalls of money that come along throughout the year.
In this case, money generated from selling items around the home will flow directly into our challenge account as a form of side income.
The second benefit of starting a minimalist revolution here is to adopt a lifestyle without clutter and stress. Whether it be how we eat, our jobs, or how we live in general – minimalism can be applied to everything we do.
Minimalist living seems to align very well when it comes to personal finances. Whether it be avoiding too much debt or cutting back on a monthly expense like cable or cell phone – minimalism can help build wealth.
What Does Minimalism Mean to Me?
Minimalism may mean different things to different people. For the extreme minimalist, it may mean going completely off the grid and living off the land. For others, it may be as simple as cutting their cable to save money.
To me, adopting a minimalist lifestyle has the following characteristics –
- living without clutter
- getting rid of things you do not use
- living without debt
- reducing distractions
- focusing on what is important
- simple living
- focus on things that give you joy and provide value like family
- don’t obsess with doing everything or too much (I have a big problem with this)
- limit obsession with material things
Minimalist Goal #1 – List Items for Sale on Craigslist
My first goal for minimalism is to list a few items and sell them on Craigslist. I have listed and sold a few items on eBay and Craigslist in the past, but it has been sporadic at best.
Over a year ago, I thought about trying to start selling on Amazon through their FBA program (Fulfillment by Amazon). I bought about $100 worth of inventory that I thought I could sell and then realized I made a few mistakes. Some of the inventory I purchased was not allowed to be sold in the FBA program without a special account from the manufacturer – whoops.
The rest of the inventory I bought doesn’t seem to be in high demand.
So … after over a year of this stuff sitting in my office collecting dust, I decided to move it. While I am not going to give the inventory away, I am going to list a lot of these items on Craigslist and cut my losses. There is also the possibility I could break even or make a little profit – but for now I am not counting on it.
I will provide details of my selling success or failure through my minimalist lifestyle updates.
What Does Minimalism mean to you?