your list is pretty good, but it makes me think of a few things:
> Reduce all bills/belongings to bare essentials to live minimally.
depends what you mean by living minimally. if you want to be responsible for the fewest things you could live somewhere that doesn't have a kitchen, and own no equipment for cooking, but eat out every meal. in some sense this will be "simple" but also relatively expensive. if you want to really focus on reducing costs then there will be a business case to invest in "stuff" like cooking equipment. for example you could buy a large a freezer so if you see something you like to eat marked down by 80% you have enough capacity to buy in bulk and store for the next 6 months.
> 4. Invest in yourself with excellent groceries, gym membership/local park visits, medical/hygiene care and other healthy habits.
keeping yourself in good mental and physical health for the long run is a great idea, but avoid falling into the trap of spending money for things that are not actually necessary. be careful about using the word "invest" for things that wont actually generate income.
e.g. instead of paying for a gym membership maybe you could switch from driving/public transport to cycling. in that way buying a bike could be an actual investment if it reduces your transport costs (probably hits break even point in 0.3-1 year) and has the side bonus of incidentally filling some of your need for exercise at no cost.
> keeping yourself in good mental and physical health for the long run is a great idea, but avoid falling into the trap of spending money for things that are not actually necessary. be careful about using the word "invest" for things that wont actually generate income.
For most people, their capacity to work is the only significant income generating asset that they have. Keeping yourself in good working condition is one of the best income generating investments that you can make in a situation like that.
> Reduce all bills/belongings to bare essentials to live minimally.
depends what you mean by living minimally. if you want to be responsible for the fewest things you could live somewhere that doesn't have a kitchen, and own no equipment for cooking, but eat out every meal. in some sense this will be "simple" but also relatively expensive. if you want to really focus on reducing costs then there will be a business case to invest in "stuff" like cooking equipment. for example you could buy a large a freezer so if you see something you like to eat marked down by 80% you have enough capacity to buy in bulk and store for the next 6 months.
> 4. Invest in yourself with excellent groceries, gym membership/local park visits, medical/hygiene care and other healthy habits.
keeping yourself in good mental and physical health for the long run is a great idea, but avoid falling into the trap of spending money for things that are not actually necessary. be careful about using the word "invest" for things that wont actually generate income.
e.g. instead of paying for a gym membership maybe you could switch from driving/public transport to cycling. in that way buying a bike could be an actual investment if it reduces your transport costs (probably hits break even point in 0.3-1 year) and has the side bonus of incidentally filling some of your need for exercise at no cost.