This episode is about making sense of two important concepts: frugality and minimalism. Frugality means to be economical or sparing with regard to money, but this definition prompts the question: what are the criteria for deciding if a choice is economical? Similarly, the definition of minimalism (to own the minimum amount of possessions) also prompts a question: what are the criteria for deciding what the minimum is?
Both these ideas only make sense if they are defined in relation to your goals and purpose in life. Using examples from entrepreneurship, I suggest ways to define frugality and minimalism in relation to your goals.
- TVL Episode 136: Your Purpose In Life
- TVL Episode 116 (for discussion of the 4% rule)
- The Goal: A Process of Ongoing Improvement Eliyahu M. by Goldratt