The 30/30 Rule - The Minimalists (2024)

FAQs

The 30/30 Rule - The Minimalists? ›

If something I want costs more than $30, I ask myself whether I can get by without it for the next 30 hours. Hence, “the 30/30 Rule.” (If it's $100 or more, I tend to wait 30 days.) This extra time helps me assess whether or not this new thing will add value to my life.

A minimalist budget isn't necessarily about spending less money. It's about spending money on fewer things, so you're only spending money on what you truly value.

It asks two simple questions: Have you used this in the past 90 days? Will you use it in the next 90 days? If your answer to both is no (with the exception of things like seasonal clothes, holiday decorations, or anything used only for a specific part of the year), it's time to get rid of that thing.

20/20 rule for minimalist living

The Minimalists Joshua Fields Millburn and Ryan Nicodemus invented this great minimalist rule: If you don't use it and you can replace it for less than $20 in 20 minutes, you can declutter it! I LOVE this tip. So often we hold onto things because we think we might use something one day.

The duo created the “30-day minimalist game”: you start the first of those 30 days by getting rid of one thing, the second day two things, the third three things, and so on until you reach 30. “At first it's an easy game.

It's okay to toss the stuff if it's not adding value to your life: donate it, sell it, recycle it. Let go of it so you can focus on what's important in your life. Most people won't even notice, especially the people who care about you. Read this essay and 150 others in our new book, Essential.

We personally know minimalists who are Christian pastors, minimalists who are practicing Buddhists, minimalists who are atheists. We even know a minimalist rabbi. Because minimalism is a lifestyle that helps people question what things add value to their lives, it applies to any religion—or no religion at all.

If you want to take the Project 333 Challenge

Choose 33 items (or less) including clothes, shoes, jewelry and accessories. Pack up and hide everything else and then you don't have to think about shopping or what to wear for the next three months.

Then we tested our hypothesis: the 20/20 Rule. Anything we get rid of that we truly need, we can replace for less than $20 in less than 20 minutes from our current location. Thus far, this hypothesis has become a theory that has held true 100% of the time.

You don't need to add more to your already full life. You don't need to make big investments or buy fancy gadgets to make progress. You just need to clear the space, maybe just for 15 minutes. You just need to start right where you are with what you already have.

Are minimalists more happy? ›

According to a survey by the Simplicity Institute, an organization that surveyed 2,500 people across various countries who self-identified themselves as living with fewer possessions, 87 percent of respondents indicated they were happier now than when they owned more possessions.

What? I can be a minimalist and still own a house? Of course. Our friend, Joshua Becker, and his minimalist family own a home in Phoenix.

Simply, a minimalist wears their favorite clothes every day. Most days I wear jeans, a teeshirt, and a pair of boots. Or, when I feel like it, I wear a crisp white button-up shirt, jeans, a blazer, colorful socks, and a clean pair of dress shoes. (I avoid logos because I refuse to be a walking billboard.)

Smartpedia: The 90-90 rule points out experiences in effort estimation, according to which 90% of work performed and an estimated 10% of remaining effort in practice become 180% (90%+90%).

The one in one out rule for decluttering is a practice that purges one item from your home each time you bring in one new item.

To stave off impulse, I created a rule that helps me avoid unnecessary purchases. If something I want costs more than $30, I ask myself whether I can get by without it for the next 30 hours. Hence, “the 30/30 Rule.” (If it's $100 or more, I tend to wait 30 days.)

Minimalism can also save you a lot of money, even if you are not a “frugal minimalist”. It is just one of the many unexpected benefits of minimalist living.

The minimalism lifestyle might cost you more money in the end. The idea of having less stuff sounds great. However, you'll need to invest time and energy into decluttering your surroundings. And, you may need to invest money too.

Minimalism offers many insights that are valuable to financially successful people, and it definitely offers tools and ideas for financial success. However, even though minimalism shares some practices and principles with frugality, it is actually quite distinct from frugality.

Just because you're poor doesn't mean your house won't have stuff in it or you won't want to spend on non-essentials. It's just far, far more expensive to do so. And minimalism isn't just about what you own (or throw away) now, it's about how you choose to spend your money in the future.