This post is part of a 30 days series called the 30 steps program to financial independence. You can check the list of other posts here.
Step 9: Minimize your stuff
You may wonder, what does my stuff have to do with financial independence? Well, it does. I talked earlier about how you needed to save for your goal of financial independence. The less stuff you have, the less house you need to store your stuff. You may get rid of this stuff and start renting your extra bedroom and generating extra income.
If you don’t have that much stuff you don’t have that much cleaning to do. Or that much worrying that one would break in if you go on holiday. Less insurance premiums to protect it, less repairs and maintenance… not only is it time consuming, but you also need more money to keep that stuff.
As you can see I don’t own many things. Actually everything fits into a small car. That gives me a lot of freedom, to move anywhere and travel light.
So have a good look at your stuff. All of it. Yes, those boxes hidden in the garage you haven’t opened in years. And what about that storage unit that you are paying a fortune for? Is EVERYTHING in it absolutely essential to your life? To you being happy? I don’t think so, or you would have it right there with you.
Try to get rid of your stuff. Put clothes that don’t fit you anymore for sale on Ebay, or make a garage sell, you might even make some money out of it!
You don’t need that many things! Try to reduce the list to what you really need, and get the good stuff. A good bed, good shoes, a good computer… You will appreciate more what you have and spend less money in the long run having less things around you.