Imagine saving hundreds of hours and thousands of dollars each year—just by owning less. These 20 stats show how.
Most people I know want more time and money. In most cases, I can see why.
We’re stretched thin—trying to meet deadlines, pay bills, care for our families, and still find space for rest, joy, purpose, and meaning. The days feel short. The expenses pile up. And it’s easy to believe that the only solution is to work harder, earn more, or somehow fit more into an already full life.
But maybe there’s a better answer. What if the solution isn’t found in earning more, but in owning less?
Every item we buy has a cost—and not just in dollars. Our possessions cost us time to earn, time to maintain, and time to manage. And the quickest way to get more time and money back into our lives is to pursue minimalism.
And it turns out, the numbers back this up. Here are 20 statistics that show just how much minimalism can change our everyday by giving us more time and more money.
Money
1. Americans waste $18,000 on “non-essential” expenses each year (source)
2. Despite owning enough clothing to form an average of 135 outfits, Americans spend an average of $1,445 yearly on clothes and shoes. (source)
3. On average, people spend $360 each year on jewelry, whether for gifting others or buying for themselves—despite already owning 34 pieces of jewelry. Men, on average, spend more on themselves than women do. (source)
4. Families spent $24 billion on toys annually. Parents spend an average of $240 on toys and games every year while grandparents spend $500. All while it’s estimated that 20-30% of toys are never played with. (source)
5. Americans spend $14.6 billion every year on home organization. (source)
6. In the United States, people throw away over $473 billion worth of food annually—38% of all the food in America. (source)
7. Nearly $10 billion in electronic devices—comprising computer equipment and devices, screens, and small electronic appliances—is thrown away every year in the US alone. (source)
8. On average, Americans spend approximately $1,100 per year on coffee from coffee shops. (source)
9. Nearly 25% of grocery shopping dollars are spent on processed foods and sweets—that amounts to $125/month for the average American household. (source)
10. In the US, consumers spend an average of $150 per month on impulse purchases. (source)
11. The average American spends over $1,000 a year on subscriptions—$200 of it on unnecessary or unused subscriptions. (source)
Time
12. On average we spend two hours per day buying things and taking care of the things we already own. (source)
13. Americans spend nearly two hours a day shopping online at work. (source)
14. The average woman makes 301 trips to the store annually, spending close to 400 hours a year shopping. This amounts to 8.5 years spent shopping during a typical lifespan. (source)
15. The median size of a new American home has grown to 2,338 square feet from 983 square feet in 1950, driven partly by the need to store excess possessions, increasing housing costs. (source)
16. 54% of Americans feel overwhelmed by clutter, with managing possessions elevating stress hormone levels, particularly for mothers, costing mental health and time. (source)
17. Americans spend more than two full days online shopping per year. (source)
18. The average American now spends 2.5 days per year (60 hours) looking for lost items, costing households $2.7 billion annually to replace misplaced possessions. (source)
More
19. 81% of shoppers are willing to increase their online spending purchase just to meet a retailer’s free shipping threshold. (source)
20. The national average credit card debt among cardholders with unpaid balances in 2025 averaged $7,321 (with much of it tied to unnecessary purchases), which results in an extra $120 billion in credit card interest and fees every year. (source)
The data doesn’t lie: when we own less, we can save more—both time and money. And with that, we gain something even more valuable—margin to live a better, more intentional life.
