Stuff Costs More Than You Think
thintz.com
thintz.com
The method that he uses to elicit the values is extremely interesting. He locks the items in storage to realize their true value to him.
In the process he discovers a major economic principle. I can't remember that exact term used to describe the situation, but I think it deals with Willingness To Accept (http://en.wikipedia.org/wiki/Willingness_to_accept). In summary, the principle states that one tends to increase the value placed on a good if he owns it. For example, you bargain with a salesman for a hat. He brings the price down to $10. A well-dressed man sees you walking out of the store with your newly purchased hat. He likes it, so he makes you an offer for $10. You will likely not accept because the hat is now worth more to you than just $10.
Overall, the article itself is presented in a motivating fashion shedding some light on these economic issues.
In the past 2 1/2 years or so I have been slowly paring down my possessions. As a result my living space has decreased from 960 ft2 to 720 ft2, and now to 670 ft2. In 4 months, I could consider downsizing again, probably to 550 ft2 or so. Less space means I can get a nicer space for the same money (though usually less), in a better location. Maybe I'd consider staying put if I had a live-in girlfriend, as there's plenty of closet space for someone else's things.
It's amazing the amount of stuff you tend to haul around with you. What do I miss that I've gotten rid of? Not a thing. I now know where everything is. It's getting increasingly easier to get at everything Cleaning is simple. A smaller space means lower utility bills (i.e. electric going from $80/mo to $35/mo). Fewer clothes (that I never wear) means less laundry to do. I still have some useless things that have sentimental value, and it'll probably take considerably more time before I consider passing those along.
Though most importantly, it leaves more money available for the things you really care about. Money is ultimately a tool, and I'd rather have it available for more worthwhile things.
My inventions are informational. I do need a pile of junk on my harddrive and servers, though.
- The Junk. Stuff you have but can't bear to throw away; after leaving it in storage for a few years you are willing to part with it.
- The Memorabilia. Stuff that has memories attached to it- for example, a stuffed animal. Some of this stuff could be thrown away, some is not worth chucking.
- The Winter Clothing. Stuff you only need occasionally, but cannot do without. I think a lot of people discount or forget about this category when they talk about how little stuff you should have in your life. My mechanic's tools, rain gear and winter clothes are not being used more often than not, but when I have to have them I have to have them.
I, intentionally didnt take my desktop PC, my xbox or TV with me.
I also didnt take any of my suits, smart shoes and a whole host of books.
For the first few months, i didnt miss any of them, but i am starting to miss my TV, xbox and Desktop PC now.
Not particularly missing anything else, but then again, i didnt have that many things to start with.
In many ways I had less than when I was a starving student, but it felt much different because what I did have was the money to buy things if I needed them. Having the ability to buy things I might need or want was more important to me than actually owning them.