From Renting to Owning: Working Towards a Mortgage-Free Life

In the video “From Renting to Owning: Working Towards a Mortgage-Free Life,” the speaker discusses the concept of financial minimalism and shares their personal goal of paying off their mortgage for retirement. They emphasize the importance of eliminating unnecessary items and being critical about spending money. The speaker also mentions the benefits of growing and making food and cleaning products themselves as a way to cut down on expenses. They value happiness over earning a lot of money and prefer a simple daily routine over extravagant experiences. The speaker offers their social media handles for more content and potential collaborations.

Financial minimalism is a holistic approach to managing money and making financial decisions, as highlighted in the video by Delala. The speaker emphasizes the importance of having a financial goal or path in order to determine one’s financial priorities. In their case, their goal is to pay off their mortgage and live a frugal minimalist lifestyle. They believe that owning a home is a more financially viable option compared to renting, and they emphasize the benefits of finding happiness in daily routines and simple things. The speaker also discusses various strategies for saving money, such as growing food, making homemade products, and investing in items that lead to long-term savings. They highlight how financial minimalism aligns with environmental sustainability and personal fulfillment.

Table of Contents

Financial Minimalism and Determining Goals

Understanding the concept of financial minimalism

Financial minimalism is a concept that focuses on living a simple and frugal lifestyle, with the goal of achieving long-term financial stability and personal fulfillment. It involves consciously reducing expenses, eliminating unnecessary items, and making thoughtful financial decisions. The essence of financial minimalism lies in prioritizing experiences, happiness, and personal values over material possessions. By adopting this mindset, individuals can free themselves from the burden of consumerism and work towards a mortgage-free life.

Determining financial goals for a mortgage-free life

One of the first steps in embracing financial minimalism is determining financial goals. Each person’s goals may vary, ranging from traveling the world to achieving financial independence or purchasing a home. However, for many individuals, a common financial goal is to pay off their mortgage and achieve mortgage-free living. Paying off a mortgage not only eliminates the burden of monthly payments but also provides a strong foundation for long-term financial stability.

By setting the goal of homeownership, individuals can pave the way for a frugal minimalist lifestyle. Owning a home offers numerous advantages and can significantly impact financial well-being. It provides stability, the freedom to customize and personalize one’s living space, and the potential for long-term financial savings.

Importance of making financial decisions with minimalism in mind

When it comes to financial decision-making, adopting a minimalist mindset can have a significant impact. Financial minimalism encourages individuals to evaluate purchases, prioritize needs over wants, and differentiate between essential and non-essential expenses. By consciously considering the long-term value and impact of each financial decision, individuals can make choices that align with their minimalist lifestyle and overall financial goals.

Making financial decisions with minimalism in mind involves critical evaluation and analysis of spending habits. It requires individuals to assess their own needs, wants, and values, and make informed choices that align with those priorities. By eliminating unnecessary expenses, individuals can redirect their funds towards more meaningful aspects of life, such as experiences, personal growth, and financial freedom.

Transitioning from Renting to Owning

Advantages of owning a home

Owning a home comes with numerous advantages that can contribute to a frugal and minimalist lifestyle. Unlike renting, where individuals are subject to rising rental prices and limited control over their living space, homeownership provides stability. By owning a home, individuals can eliminate the uncertainty of rental agreements and enjoy the freedom to customize and personalize their living environment according to their own preferences.

In addition to stability and freedom, homeownership also offers the potential for long-term financial savings. Unlike renting, where monthly payments contribute to someone else’s investment, mortgage payments gradually build equity in one’s own property. This equity can act as a valuable asset and a foundation for future financial endeavors.

Importance of working towards mortgage-free living

Working towards mortgage-free living is a central aspect of financial minimalism. By paying off a mortgage, individuals can eliminate a significant monthly expense and free up funds for other aspects of life. Living without a mortgage allows individuals to live with minimal financial stress and enjoy the benefits of financial stability.

Furthermore, paying off a mortgage can have long-term financial benefits, especially in retirement. Without the burden of mortgage payments, individuals can live comfortably on less money, making retirement a more feasible and enjoyable experience. Achieving mortgage-free living aligns with the principles of financial minimalism and sets the stage for a frugal and fulfilling future.

Steps to transition from renting to owning

Transitioning from renting to owning a home requires careful planning and consideration. Here are some steps to help navigate this journey:

  1. Determine your budget: Start by evaluating your financial situation and determining how much you can afford to spend on housing.
  2. Save for a down payment: Saving for a down payment is a crucial step in homeownership. Set a realistic savings goal and create a budget to help you reach your target.
  3. Improve your credit score: A good credit score is essential when applying for a mortgage. Take steps to improve your credit by paying bills on time, reducing debt, and resolving any credit issues.
  4. Research mortgage options: Explore different mortgage programs and lenders to find the best fit for your financial situation. Consider factors such as interest rates, loan terms, and down payment requirements.
  5. Find a real estate agent: Working with a knowledgeable real estate agent can streamline the home-buying process. They can help you find listings, negotiate offers, and guide you through the purchase process.
  6. Assess your needs: Determine your priorities and evaluate the features you are looking for in a home. Consider factors such as location, size, amenities, and future resale value.
  7. Purchase your home: Once you have found the right property, make an offer and work through the necessary steps to finalize the purchase. This includes obtaining a mortgage, completing inspections, and handling the legal aspects of the transaction.

By following these steps and staying committed to your financial goals, you can successfully transition from renting to owning and embark on the path of financial minimalism.

From Renting to Owning: Working Towards a Mortgage-Free Life

Eliminating Unnecessary Expenses

Benefits of cutting unnecessary expenses

One of the core principles of financial minimalism is eliminating unnecessary expenses. By doing so, individuals can free up their financial resources for more meaningful and valuable aspects of life. Cutting unnecessary expenses has several benefits:

  1. Financial savings: By reducing or eliminating unnecessary expenses, individuals can save money and redirect those funds towards essential needs or long-term goals, such as paying off debt or building savings.

  2. Debt reduction: Unnecessary expenses often contribute to consumer debt. By eliminating these expenses, individuals can reduce their overall debt load and work towards financial freedom.

  3. Simple living: Cutting unnecessary expenses aligns with the minimalist philosophy of simplifying one’s life. By eliminating excess, individuals can experience the freedom and clarity that comes with a simplified lifestyle.

Strategies for eliminating unnecessary items

When it comes to cutting unnecessary expenses, it’s important to adopt a strategic approach. Here are some strategies to help eliminate unnecessary items:

  1. Evaluate needs vs. wants: Before making a purchase, ask yourself if the item is a genuine need or merely a want. By prioritizing needs over wants, you can make conscious spending decisions that align with your financial goals.

  2. Declutter regularly: Periodically review your possessions and identify items that no longer serve a purpose or bring you joy. Consider selling, donating, or repurposing these items instead of allowing them to take up space and potentially become unnecessary expenses.

  3. Practice mindful spending: Before making a purchase, take the time to consider its value and impact on your life. Is the item something that will truly bring you joy and fulfillment, or is it another unnecessary expense? Being mindful of your spending habits can help prevent impulsive purchases.

Critical evaluation of spending habits

To effectively eliminate unnecessary expenses, it’s essential to critically evaluate your spending habits. This involves examining your current financial situation, tracking your expenses, and identifying areas of potential improvement. Here are some steps to help evaluate your spending habits:

  1. Create a budget: Start by creating a budget that outlines your income, expenses, and financial goals. This will provide a clear overview of your financial situation and help identify areas where unnecessary expenses can be reduced or eliminated.

  2. Track your expenses: Keep a record of all your expenses for a set period, such as a month. Categorize your expenses and analyze where your money is going. This will help you identify patterns and areas where unnecessary spending is occurring.

  3. Identify discretionary expenses: Discretionary expenses are non-essential purchases that can be reduced or eliminated. Review your spending habits and identify discretionary expenses that can be cut back on, such as dining out, entertainment, or subscriptions.

  4. Set priorities: Determine your financial priorities and align your spending habits accordingly. By focusing on your goals and values, you can make informed decisions about where to allocate your financial resources.

By critically evaluating your spending habits and consciously reducing unnecessary expenses, you can move closer to financial stability and embrace a frugal minimalist lifestyle.

DIY for Savings

Choosing DIY options for ethical and environmentally friendly living

Embracing a DIY (Do-It-Yourself) approach is a fundamental aspect of financial minimalism. Choosing DIY options not only promotes self-reliance but also contributes to ethical and environmentally friendly living. By making things yourself, you can reduce reliance on harmful or unsustainable products while saving money. Here are some areas where DIY options can be implemented:

  1. Personal care products: Many commercial personal care products contain harmful chemicals and can be expensive. By making your own products, such as soap, shampoo, or skincare items, you can ensure they are free of toxins and tailored to your specific needs. There are numerous DIY recipes available online and in books that provide step-by-step instructions.

  2. Cleaning products: Similar to personal care products, cleaning products often contain harsh chemicals and can be costly. By making your own cleaning products using simple ingredients such as vinegar, baking soda, and essential oils, you can create effective and environmentally friendly alternatives at a fraction of the cost.

  3. Home decor: Instead of purchasing expensive home decor items, consider creating your own. DIY projects for home decor allow you to unleash your creativity and personalize your living space while saving money. From upcycling old furniture to crafting unique wall art, there are countless DIY ideas available for inspiration.

Making cost-effective and enjoyable homemade products

The beauty of DIY is that it not only provides cost savings but can also be an enjoyable and fulfilling experience. Making homemade products allows individuals to connect with their creativity and craftsmanship while saving money. Here are some benefits of making homemade products:

  1. Cost savings: By making your own products, you can significantly reduce expenses compared to purchasing commercial alternatives. The raw materials required for DIY projects are often inexpensive and readily available.

  2. Tailored to personal preferences: DIY allows you to customize products according to your personal preferences. Whether it’s adjusting the scent of a homemade candle or tailoring the ingredients of a homemade skincare product, you have the freedom to create items that align with your preferences.

  3. Enjoyable and fulfilling: Engaging in DIY projects can be a rewarding and fulfilling experience. It allows you to tap into your creativity and craftsmanship, promoting a sense of accomplishment and satisfaction.

  4. Connection to sustainability: DIY projects often encourage the use of sustainable and eco-friendly materials. By reducing reliance on commercial products, individuals can minimize waste and contribute to a more sustainable lifestyle.

Swapping out expensive items for DIY alternatives

Another aspect of DIY for savings is swapping out expensive items for DIY alternatives. This can apply to various aspects of life, from home furnishings to personal care products. By opting for DIY alternatives, individuals can save money while enjoying the process of creating something unique and personal. Some examples of DIY swaps include:

  1. Homemade gifts: Instead of purchasing expensive gifts, consider making homemade gifts for special occasions. Handmade gifts have a personal touch and are often cherished by recipients.

  2. Repurposing items: Instead of buying new furniture or decor items, consider repurposing or upcycling old items. With creativity and some basic DIY skills, you can transform old items into unique pieces that align with your personal style.

  3. DIY fashion: Instead of spending money on expensive clothing and accessories, consider exploring DIY fashion. This can include sewing your own clothes, upcycling thrifted items, or customizing existing pieces to suit your taste.

By embracing DIY alternatives and swapping out expensive items, individuals can save money, reduce waste, and enjoy the process of creating something unique and meaningful.

From Renting to Owning: Working Towards a Mortgage-Free Life

Finding Happiness in Daily Routines

Valuing pleasant daily routines over extravagant experiences

In a society that often prioritizes extravagant experiences and material possessions, financial minimalism offers a fresh perspective. It encourages individuals to find happiness and fulfillment in the simplicity of daily routines rather than chasing lavish experiences. By valuing and nurturing daily routines, individuals can cultivate a sense of contentment and satisfaction in their everyday lives. Here are some reasons to prioritize pleasant daily routines:

  1. Stability and consistency: Daily routines provide a sense of stability and consistency in an ever-changing world. By establishing and maintaining routines, individuals can feel grounded and in control of their lives.

  2. Peace of mind: Engaging in familiar and enjoyable activities on a daily basis can promote a sense of calm and peace of mind. This allows individuals to reduce stress and anxiety and embrace the present moment.

  3. Appreciation for simple pleasures: Daily routines provide opportunities to appreciate and savor the simple pleasures of life, such as enjoying a cup of coffee in the morning or taking a leisurely walk. By slowing down and being present in these moments, individuals can find joy and contentment in the small things.

Prioritizing happiness and fulfillment over material possessions

In a culture that often equates happiness with material possessions, financial minimalism offers an alternative perspective. It encourages individuals to prioritize happiness and fulfillment over the accumulation of material goods. By adopting this mindset, individuals can free themselves from the constant pursuit of material wealth and find contentment in the simplicity of life. Here are some reasons to prioritize happiness and fulfillment:

  1. Emotional well-being: Material possessions may provide temporary satisfaction, but true happiness comes from within. By prioritizing experiences, relationships, and personal growth, individuals can cultivate lasting happiness and emotional well-being.

  2. Reduced financial stress: By embracing a minimalist lifestyle and focusing on what truly brings happiness, individuals can reduce financial stress. The pressure to constantly acquire and maintain material possessions is replaced with the freedom to live within one’s means and make intentional financial decisions.

  3. Better relationships: Prioritizing experiences and personal connections over material possessions can lead to stronger, more meaningful relationships. By investing time and energy in building relationships, individuals can experience deeper connections and a sense of belonging.

Creating joy through simple pleasures

Financial minimalism encourages individuals to find joy and fulfillment in simple pleasures. Rather than seeking happiness through extravagant experiences or material possessions, individuals can embrace the beauty of everyday moments. Here are some ways to create joy through simple pleasures:

  1. Mindful appreciation: Take the time to truly appreciate and be present in everyday moments. Whether it’s enjoying a home-cooked meal, taking a walk in nature, or spending quality time with loved ones, being mindful and fully present in these experiences can enhance joy and fulfillment.

  2. Cultivate gratitude: Practice gratitude by regularly reflecting on the things you are grateful for. This can be as simple as keeping a gratitude journal or expressing gratitude to loved ones. By shifting your focus to appreciation and gratitude, you can cultivate a sense of joy and contentment.

  3. Embrace nature: Spending time in nature has been shown to boost mood and overall well-being. Whether it’s taking a hike, going for a swim, or simply sitting in a park, connecting with nature can provide a sense of peace and joy.

By prioritizing pleasant daily routines, valuing happiness and fulfillment, and finding joy in simple pleasures, individuals can embrace a frugal minimalist lifestyle and experience a deeper sense of contentment and satisfaction.

Sustainable Living and Long-Term Savings

Holistic approach to financial minimalism and environmental sustainability

Financial minimalism goes hand in hand with environmental sustainability. By adopting a holistic approach to minimalism, individuals can not only achieve long-term savings but also contribute to a healthier planet. Sustainable living practices complement the principles of financial minimalism by reducing waste, conserving resources, and promoting ethical consumption.

By making conscious choices about consumption, individuals can minimize their impact on the environment and save money in the process. Sustainable living practices, such as reducing single-use items, minimizing food waste, and conserving energy, not only benefit the environment but also contribute to long-term financial stability.

Growing and foraging for food to save on groceries

One of the most impactful ways to practice sustainable living and achieve long-term savings is by growing and foraging for food. By growing your own fruits, vegetables, and herbs, you can significantly reduce your grocery expenses while enjoying fresh, organic produce. Whether you have a large backyard or a small balcony, there are options for everyone to grow their own food.

Additionally, foraging for food in nature is another way to save on groceries and connect with the environment. Many wild plants and fruits are edible and freely available, allowing individuals to supplement their diet with natural, nutrient-rich foods.

Creating homemade cleaning products and personal care items for cost savings

Another area where sustainable living intersects with financial minimalism is in creating homemade cleaning products and personal care items. Many store-bought cleaning products and personal care items contain harmful chemicals and come with high price tags. By making these items at home using simple, natural ingredients, individuals can save money and reduce their exposure to toxins.

There are numerous recipes available for homemade cleaning products, such as all-purpose cleaners, laundry detergents, and dish soaps. Similarly, homemade personal care items, such as soaps, shampoos, and lotions, can be created using natural ingredients like essential oils and organic oils.

By embracing sustainable practices such as growing and foraging for food and creating homemade cleaning products and personal care items, individuals can make a positive impact on the environment while achieving long-term financial savings.

From Renting to Owning: Working Towards a Mortgage-Free Life

Investing in Long-Term Savings

Making investments in items like freezers and gardening tools

As part of financial minimalism, making strategic investments in certain items can contribute to long-term savings. By choosing to invest in high-quality, durable goods, individuals can reduce expenses over time and increase self-sufficiency. Here are some examples of items worth investing in:

  1. Freezers: Investing in a freezer can be a valuable long-term investment. By purchasing the right size and type of freezer, individuals can store extra food, take advantage of bulk purchases, and reduce overall grocery expenses.

  2. Gardening tools: For those interested in growing their own food, investing in quality gardening tools is essential. A well-equipped toolkit can streamline gardening tasks and ensure fruitful harvests, ultimately resulting in long-term savings on groceries.

  3. Water filters: Investing in a good water filter system can reduce reliance on bottled water and save money in the long run. By filtering tap water, individuals can have access to clean and safe drinking water without the need to continually purchase single-use plastic bottles.

Benefits of investing in fruit trees and vegetable gardens

One of the most effective ways to achieve long-term savings is by investing in fruit trees and vegetable gardens. By growing your own fruits and vegetables, you can reduce grocery expenses, enjoy fresh and organic produce, and develop a deeper connection with nature. Here are some benefits of investing in fruit trees and vegetable gardens:

  1. Lower grocery expenses: By growing your own food, you can significantly reduce your grocery expenses. Fruits and vegetables can be expensive, especially if purchased organically. By having your own supply of fresh produce, you can enjoy healthy and nutritious meals without breaking the bank.

  2. Enhanced self-sufficiency: Investing in fruit trees and vegetable gardens promotes self-sufficiency. It reduces reliance on external food sources and provides individuals with a sense of control and resilience. Being able to provide for oneself and one’s family through homegrown food is both empowering and financially beneficial.

  3. Health and well-being: Homegrown fruits and vegetables are often more nutritious and flavorful than store-bought alternatives. By consuming fresh and organic produce from your own garden, you can nourish your body and prioritize your health.

Long-term savings through smart investments

Financial minimalism emphasizes the importance of smart investments that lead to long-term savings. By carefully evaluating the potential return on investment and considering one’s long-term financial goals, individuals can make informed decisions about where to allocate their funds. Here are some examples of smart investments:

  1. Energy-efficient appliances: Investing in energy-efficient appliances can lead to significant savings on utility bills over time. Energy-efficient appliances consume less energy, resulting in lower monthly expenses and reduced environmental impact.

  2. Insulation and weatherproofing: Investing in insulation and weatherproofing measures for your home can contribute to long-term energy savings. Proper insulation and sealing of windows and doors can prevent heat loss or gain, leading to reduced heating and cooling costs.

  3. Renewable energy solutions: Consider investing in renewable energy solutions, such as solar panels or wind turbines. While the upfront cost may be significant, the long-term savings on energy bills can make these investments financially advantageous.

By making smart investments in items that minimize expenses, increase self-sufficiency, or reduce environmental impact, individuals can align their financial decisions with the principles of financial minimalism and achieve long-term savings.

Starting Small and Enjoying the Process

Importance of starting small and making gradual changes

When embracing a frugal lifestyle and financial minimalism, it’s important to start small and make gradual changes. Starting small allows individuals to build sustainable habits, make realistic adjustments, and ensure long-term success. Here are some reasons why starting small is beneficial:

  1. Sustainable habits: Making small changes gradually allows individuals to form sustainable habits. By taking small steps towards a frugal lifestyle, individuals can avoid burnout or feeling overwhelmed, increasing the likelihood of maintaining these changes over time.

  2. Realistic adjustments: Starting small ensures that individuals can make realistic adjustments to their lifestyle without drastic disruptions. This makes the transition to a frugal lifestyle more manageable and sustainable in the long run.

  3. Building momentum: Starting small and experiencing small victories along the way builds momentum and motivation. Each small change and success reinforces the benefits of a frugal lifestyle, encouraging individuals to continue making positive changes.

Finding enjoyment in the journey towards a frugal lifestyle

Embracing a frugal lifestyle and financial minimalism is not only about reaching a particular financial goal but also about finding enjoyment in the process. The journey towards a frugal lifestyle can be rewarding and fulfilling in itself. Here are some ways to find joy in the journey:

  1. Embrace creativity: Discover the joy of finding creative solutions to everyday challenges. Whether it’s repurposing old items, finding alternative uses for existing products, or exploring DIY projects, embracing creativity can add a sense of excitement and fulfillment to your frugal lifestyle.

  2. Cultivate gratitude: Practice gratitude and reflect on the positive aspects of a frugal lifestyle. Appreciate the financial freedom, reduced stress, and increased self-sufficiency that come with embracing minimalism. Cultivating gratitude can enhance your overall sense of joy and contentment.

  3. Connect with like-minded individuals: Surround yourself with like-minded individuals who share your values and goals. Engaging with a supportive community can provide inspiration, accountability, and a sense of belonging.

By starting small, building sustainable habits, and finding joy in the journey, individuals can successfully navigate the path towards a frugal lifestyle and financial minimalism.

From Renting to Owning: Working Towards a Mortgage-Free Life

Inspiration from Like-minded Individuals

Utilizing social media to find inspiration for sustainable living

Social media platforms can serve as a valuable source of inspiration and ideas for sustainable living. Following individuals and accounts that share content related to financial minimalism, frugal living, and sustainable practices can provide valuable insights, tips, and motivation. Here are some ways to utilize social media for inspiration:

  1. Follow relevant hashtags: Hashtags such as #minimalist, #frugalliving, or #sustainableliving can lead you to a wealth of content and like-minded individuals. By exploring posts and conversations under these hashtags, you can discover new perspectives and find inspiration for your own journey.

  2. Engage with content creators: Interact with content creators who resonate with your values and goals. Comment on their posts, ask questions, and share your own experiences. Building connections and engaging in conversations with like-minded individuals can foster a sense of community and provide ongoing inspiration.

  3. Curate your feed: Take control of your social media experience by curating your feed. Unfollow accounts that promote excessive consumerism or do not align with your values. Instead, follow accounts that inspire and motivate you to live a frugal and sustainable lifestyle.

Networking and collaborating with like-minded individuals

In addition to finding inspiration on social media, networking and collaborating with like-minded individuals can enhance your financial minimalism journey. Connecting with others who share similar goals and values creates opportunities for learning, growth, and support. Here are some ways to network and collaborate:

  1. Attend local events and workshops: Check for local events, workshops, or meetups focused on financial minimalism, sustainable living, or frugal practices. These events provide opportunities to connect with others in your community who are on a similar journey.

  2. Join online communities and forums: Participate in online communities or forums dedicated to financial minimalism and sustainable living. Engage in discussions, ask questions, and share your own experiences. Online communities can provide a sense of camaraderie and a platform for sharing ideas and resources.

  3. Seek out collaboration opportunities: Look for opportunities to collaborate with like-minded individuals. This could involve joint projects, guest blogging, or sharing resources. Collaborations can enrich your journey, provide different perspectives, and create a ripple effect of positive change.

Building a supportive community of like-minded individuals fosters a sense of belonging, provides ongoing inspiration, and reminds you that you are not alone on your financial minimalism journey.


Financial minimalism offers a pathway to long-term financial stability, personal fulfillment, and ethical living. By adopting a minimalist mindset and making conscious financial decisions, individuals can eliminate unnecessary expenses, transition from renting to owning a home, and embrace a frugal lifestyle. Through DIY practices, finding happiness in daily routines, and investing in long-term savings, individuals can cultivate a sense of contentment and create a more sustainable and fulfilling life.

Embracing financial minimalism is a journey that requires patience, commitment, and an ongoing desire for personal growth. By starting small, finding joy in the process, and drawing inspiration from like-minded individuals, individuals can create a positive and exciting experience out of their financial minimalism journey.

We encourage you to join the financial minimalism movement, explore its benefits, and discover the personal fulfillment and financial stability that come with a mortgage-free lifestyle. To continue your journey and find ongoing inspiration and resources, you can follow us on Instagram and TikTok @TheDelala. Let’s collaborate, share ideas, and create a supportive community for financial minimalism. Together, we can embrace a frugal lifestyle that prioritizes long-term financial stability, personal fulfillment, and a sustainable future.

From Renting to Owning: Working Towards a Mortgage-Free Life

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