Consumers typically have more things than they truly need. The very word "consumer" conjures up images of people spending money on "stuff." But is having more possessions really the right way to go through life if you want a financially secure future? The more money you spend, the less you have, and the more things you have, the more it will likely cost you in the long run.
"Stuff needs to be stored, and as your pile of stuff grows, you will need an ever larger space to store it," says Jeff Rose at Good Financial Cents.1 "That will likely see you looking to buy a bigger house every few years, with all of the expenses that come with it."
Stuff begets more stuff. Is it time to end your addiction?
1. Think of Owning Less as Having More Freedom
The more stuff you own, the more you have to deal with it. Some stuff needs to be taken care of. Some needs to be maintained, cleaned, organized, or otherwise tended to. Stuff takes up time. It stands to reason that if you have less, you won't have to dedicate as much of your time and effort to it.
It's likely that you own a lot of things that are doing nothing but taking up space, bringing little or no joy or little use. How often do you find something that you don’t even remember you own?
"Can you truthfully say that you treasure something buried so deeply in a closet or drawer that you have forgotten its existence?" asks famous organization expert Marie Kondo.2 "If things had feelings, they would certainly not be happy. Free them from the prison to which you have relegated them. Help them leave that deserted isle to which you have exiled them."
2. Understand That Clutter Can Lead to Stress
Stuff leads to clutter, and clutter leads to stress. Clutter is a distraction, and when things pile up, the knowledge that you need to do something about the situation will nag at you until you do. Think about a sink full of dirty dishes. Your kitchen won't be a pleasing space until the dishes are done. The same principle applies to clutter throughout your home. Try decluttering and see how much you enjoy having more free space. Ask yourself if you want to leave this to your kids or relatives if something happens to you.
3. See What Your Checking Account Looks Like After Avoiding Unnecessary Purchases
If you're the type of person to buy things beyond the necessities week to week, try taking a week or two off from shopping and see how much money you save during that time by refraining from adding to your “stuff collection.” You may like having that extra money in your checking account to use in more meaningful ways.
4. Plan a Vacation
Try planning a vacation to a place you've always wanted to visit, and in the meantime, try not to make any unnecessary purchases. Use your vacation as motivation to stop buying things. The less you buy, the more you'll have available to have a great time during your travels. When you take your trip, forgo souvenirs that will add to the clutter in your home in lieu of nice dinners and fun activities that will last a lifetime in the form of memories.
5. Have a Yard Sale
Go ahead and have that yard sale. This is a great way to reduce the clutter around your home while making some easy money. You may not make a profit based on what you paid for the items originally, but if you get rid of stuff that was sitting around with little to no purpose, it will still feel like profit.
6. Redirect Your Money to Savings
Adding more money to your savings account on a regular basis can have two benefits: not only will you be saving for a more secure future, but you’ll also have less ready cash to spend on things you probably don’t need.
There's no shame in having spent a lot of money on stuff in the past, but that doesn't mean you can't improve your life and financial standing by ending your addiction. Try looking at possessions from a new perspective and see how it makes you feel in the long run.
As Marie Kondo says: "A dramatic reorganization of the home causes correspondingly dramatic changes in lifestyle and perspective. It is life transforming."