Being a minimalist means that you aren’t concerned about material things. You don’t have to have the most expensive car in the neighborhood with the amazing speaker system. Minimalists are content with having the basic essentials.
In general, minimalists don’t go out and try to gratify a craving for the newest toy that hit the market. They are not interested in the newest iPhone that takes better pictures. While there’s nothing wrong with having toys and hobbies (in fact, many minimalists do have these), minimalists don’t look to them for purpose in life.
Another trait that many minimalists have, is that they borrow certain things instead of buying everything. This goes for movies, books, tools, furniture and anything else you can think of.