Impact of minimalist practices on consumer happiness and financial well-being

This study assesses the relationship between minimalism, financial well-being, and happiness. The role of age and spirituality and their impact on minimalism, happiness, and financial well-being is also investigated. The upward spiral theory of change posits that making positive lifestyle changes can bring about happiness and wellbeing and has been used as a theoretical framework. Data is conveniently collected from 343 Pakistani consumers using survey questionnaires and analyzed in SPSS and M Plus software. Results indicate that minimalism directly affects financial well-being, spirituality, and happiness. Similarly, financial well-being also has a direct positive impact on happiness. Minimalism has been found to indirectly effects happiness via financial well-being. Interestingly, age and spirituality have weakened the relationship between minimalism and happiness. In contrast, the role of age as a moderator between minimalism and spirituality is insignificant. This paper provides exciting insights into the relatively new concept of minimalism and its consequences.

Automated summary

This study examines the relationship between minimalism, financial well-being, and happiness, and also investigates the impact of age and spirituality on minimalism, happiness, and financial well-being. The results indicate that minimalism directly affects financial well-being, spirituality, and happiness, and financial well-being has a direct positive impact on happiness. Minimalism indirectly influences happiness through financial well-being. Interestingly, age and spirituality weaken the relationship between minimalism and happiness. The role of age as a moderator between minimalism and spirituality, however, is insignificant. This paper provides exciting insights into the relatively new concept of minimalism and its consequences.