HOW I SAVED AN EXTRA $1,200 THIS WEEK
Saving Money is Easier Than Earning More
Two years ago we moved from the east to the west coast. We moved from a lower cost of living area to one that is quite expensive. Thus, we downsized our home and bought a condominium. This meant we had more stuff and less space. Although we held a garage sale before we left, donated, and threw out lots of stuff, it wasn’t enough. In fact when we moved to California we rented a storage unit to house our extra furniture.
Jr. Carina was finishing college and we thought it would be a great idea to save all this extra furniture for her next apartment. Flash forward two years and Jr. is living with us while in graduate school and we spent $2,400 dollars over two years storing stuff.
Money Tip from Argentina
Friends from Argentina moved here for a year and I was thrilled to give them some of the extra furniture. While at the storage shed my friend asked why I was paying for the shed and pondered whether it wouldn’t be cheaper to sell the stuff and when Jr. moved out, replace it. After all, she is in graduate school and will likely be living here for at least another year or more.
Our friend admonished me and said, “You’re the author of How to Get Rich and you didn’t think of emptying the storage unit?” Sheepishly I replied, “You got me on that one.” Even a master at wealth building is not perfect!
At that point I decided to get rid of the storage unit!
Free on Craigslist
We bought furniture in the 1980’s and although in decent condition, was not hugely marketable. I found this out when I got no response on Craigslist! Next I tried to donate the furniture. All the local charities wanted to charge for picking it up. That didn’t fly with me!
As a last resort, I gave a couch and chair away for free on Craigslist to someone going through financial hard times. The rest I took to the local Goodwill. Even Goodwill gave me a hard time and said they had too much furniture. My sad face finally convinced them to take a book case and parsons table. I got a receipt at Goodwill and will receive a tax deduction for the charitable donation.
How I Saved $1,200
The storage rental fee was $100 per month. By getting rid of the contents in the storage unit, I immediately freed up an extra $100 dollars per month. This amount is immediately going into savings!
In addition to the money savings, there was another benefit to unloading the storage unit. I freed our lives of necessary stuff which ultimately requires care and energy. The less excess stuff you accumulate, the less encumbered you are.
Adam Baker at Man vs. Debt made a profession of getting rid of stuff. Looking for inspiration? Check out his website.
What recurring expenses can you eliminate? Every thought about buying a pay as you go phone contract? How can you streamline your life?