Frequently Asked Questions
What is minimalism exactly?
- As a basic definition, minimalism is the concept of uncluttering a subject, any subject, until there is nothing left but its true essence. A minimalist point-of-view is found in everything from writing to parenting to computing, but to Home of Wealth, minimalism is applied to living and represents three things:
- Unpacking, repurposing, and reclaiming your consumer habits.
- Cherishing beautiful free experiences over empty expensive possessions.
- Choosing high-quality timeless possessions over inferior mediocre trends.
Does minimalism mean poor?
- Minimalist living can be applied to people of all walks of life, regardless of income levels. A person that favors a minimalist lifestyle typically sees a higher value in experiences over possessions. When a life is free from materialistic clutter, its true essence is uncovered thereby encouraging time spent with loved ones, creative expression, and increased wealth.
Why isn't everyone so awesomely minimal?
- Living minimally is HIGHLY counter cultural to the art of looking rich while being broke. Minimalist living enthusiasts prefer to avoid looking like anything but who they are, and are confident in being who they are. This lifestyle and this mindset are highly threatening to a person consumed by possessions. Minimalists are problematic to people living the materialistic dream, because it becomes very clear that possessions do not fill the void in someone’s soul. A minimalist’s life is happily uncluttered, and thus happily liberated from the materialistic lifestyle perpetuated by our modern society.
What is the difference between frugal and minimal?
- Let’s first understand that both are alternatives to materialism and affluence, however there is a big difference between the two terms. Frugal living enthusiasts prefer to “do more with less” and therefore can stretch a dollar further by such activities as couponing, thrift shopping, and price-matching. By stretching their dollars, they are able to save more and spend less. (Example: Purchasing several second-hand leather wallets over a lifetime.)
- A minimalist prefers the idea that “less is more.” By surrounding themself with timeless possessions that are helpful and made from quality materials, a minimalist living enthusiast will spend less money on trends and more time doing what they love. Making a larger investment to purchase one higher quality item today, as opposed to several inferior items over a lifetime, will allow them to eventually spend less and save more. (Example: Spending several hundred dollars on one new basic black leather wallet and potentially keeping it for a lifetime.)
Is there such a thing as “frugal minimalism
- Absolutely! Minimalists prefer to stop the flow of possessions into their lives, frugalists spend the least amount they can when purchasing possessions, so the frugal minimalist will spend the least amount possible on the infrequent purchases they do make. (Example: Price-matching the latest Ipad because you want to pay the least amount, but stay ahead of technology and avoid becoming obsolete quickly.)
What is “wealthyfaceted”?
- The founders of Home of Wealth coined this term to represent the concept that being wealthy comes in many forms; forms that may have nothing to do with money. The facets of being wealthy, according to HoW are: Time, Togetherness, Accumulation, Vitality, Emotion, Integrity, and Giving.
- HoW promotes the many facets of being wealthy through its eMagazine, Wealthyfaceted.
Why is minimalism so closely tied to finance?
- Minimalism makes simplicity cool and simplicity is not expensive. As a society, we spend a lot, I mean A LOT, of money on not only purchasing, but also decorating, insuring, cleaning, and showing off our belongings. A simple life is exactly that – simple. (Example: Instead of buying cheap versions of the latest cell phone every other year and decorating them with a different case for each day of the week, purchase the best cell phone available, buy a sturdy protective case, and keep the phone for several years.)
Why is minimalism a weapon against corporate profits?
- When a person stops caring what other people are doing, buying, and consuming, marketing messages have little to no impact on their lives. The entire reason companies spend so much money on marketing products and services is to generate higher profits. Minimalism takes the power away from corporate marketing by seeking timeless quality items and free experiences over STUFF.
Why do you charge visitors to take surveys, enter contests, and provide content?
- In a nutshell, to keep out the riff raff. Charging also allows us to keep this site open and operating as a community as opposed to a paid membership site, which is far better for our ecosystem’s goal of philanthrocapitalism.
How do I know someone won the quarterly blog-writing contest?
- Winners will be featured in our main site blog as well as highlighted by our newsletter as a special edition and we will push their blogs out to our mobile and social audiences.
What is philanthrocapitalism?
- For Home of Wealth it means one dollar of each and every product goes to charity before administrative expenses, salaries, or future development. Charity before profits, it’s that easy. It is Home of Wealth’s motto that furthering others will further our mission.
What is philanthrosourcing?
- Home of Wealth has thousands of visitors dropping by each month. Many of those folks purchase products, download information, and enter contests which in turn raises thousands of dollars for charity. Philanthrosourcing means combining all of those dollars and making a powerful impact on the lives of those in need. Our charitable inclination is toward financial literacy and microfinance.
Why will doing good lead to better business?
- It may not, but why not take a gamble on something worthy like charity? Businesses start-up everyday with the intention of making lots of money for owners and shareholders but only donate a small portion of earnings to charity, if any at all. That mindset leads to greed and fraud so why not flip it? This is why charitable organizations are our shareholders. Here at HoW, we also make it a point to have a business model that is transparent. In doing so, we think minimalist enthusiasts will appreciate it and support our efforts.
Aren't you worried someone will steal your ideas?
- Nope, what would be the worst-case scenario? More people live better? Sounds good to us!