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Wednesday, January 2, 2013

Rec: 7 Common Problems Solved by Owning Less

Hello! I wanted to recommend a wonderful blog link to Here, they have drafted up 7 Common Problems Solved by Owning Less or as I see it 7 benefits to becoming a minimalist. :D The comments are great too.

Since we have made these changes in our own home, I can testify to these truths. You truly do live happier by owning less! The socially acceptable and exalted idea that you need to "buy buy buy" is actually not to your advantage at all. Just a few reasons off the top of my head are:

1) You make others wealthier.
2) You make yourself less wealthier.
3) You invest your money most often in items you will never see a penny return on.
4) These little things (or even "big"things) that wont give you a return can and most often hurt you later on by not allowing you to start a business, stay home with the kids, invest in an idea or patent, have money for retirement, etc. The list is endless.
5) You spend more time with, taking care of or worrying about items than for family, friends or other more valuable and rewarding activities.
6) You have the potential to create a habit that causes you to be unhappy because the more you spend the more you see your own need for wealth to buy even more.
7) Sharp investments always give you confidence. Nearly everyday people find peace in things - but there is nothing more peaceful than having an account with thousands of dollars sitting off to the side for whenever its needed.

We had been purging our home little by little in the last 6 months and it worked out wonderfully in the end because we ended up buying our very first home on December 21, 2012 (yay!) Our first move took all of 4 hours and one medium Uhaul truck. We didn't have much time to pack because our jobs were nuts so we only loaded up everything that was absolutely essential. Our new house had everything we needed and a few things we loved; it was cozy and content. Can you believe that we still had half a house and a garage left at the old house? I ended up selling/giving away a good amount of the rest. When I went back and started to pack up what was left I thought  - this is still so much junk I don't even know why I didnt throw it out in the first round of purging. At one point I stood there and tried to remember or guess how much money each item cost and it was sickening - I had easily a couple of grand sitting right in front of me. Thats after I purged our house the first time. How is this even possible that I had no idea what I had truly done to myself?

In fact - the amount of money I could have saved in the last 5 years could be in the thousands easily. Since I was 16? (I'm now 26) easily in the 10s of thousands. Now if anyone had taken that 10s of thousands and invested it in a high return portfolio such as those offered at 9-12% (mainly mutual funds) you could have compounded a great deal more in a very short time. A wealthy person stays wealthy because they make their money work for them - not the other way around. Its very unsettling to see so many people waisting their hard earned precious money freely and on a daily basis.  Everyone wants to do what they want right now, but few will pay the price so they CAN do what they want when they want at a greater level later. Later doesn't even have to mean 30 years.  If a 16 year old invested the right amount every month its not a far stretch to become semi-retired at the age of 40 or 45.  And at that point its up to you to continue working and if you do - even more of a reason to save is to provide for loved ones. Studies show that most Americans believe they will work until they pass away. So, if money isn't the clincher enough, the article linked above will make it easier to enjoy living with less while your money works for you. Enjoy!

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