Minimalism is Now a Necessity: We Can No Longer Afford Stuff - Financial Freedom, #162

We are transitioning from the prosperity era to the austerity era. This new era will completely wipe out the middle class. The difference between rich and poor is that the wealthy have assets that make them money, even while they sleep. For the middle class to obtain assets, such as real estate and dividend stocks, they will need to live below their means Minimalism is a way to reduce your footprint but also align your spending with your need to acquire assets.  It may be tough to shift your perspective from spender to minimalist, but it is worth the pain.
We owe it to our kids to begin acquiring assets and building generational wealth. Good Luck!