How Your Junk Is Costing You Money

Cost of using stuff: Some of the stuff that you purchase will cost you money for its use or upkeep. If you purchase a fancy TV, you will also likely purchase a cable package. Chances are you will purchase a package that is more than you really need and thus spend more money. If you have an iPod, you will likely buy new songs as you get tired of the previous songs that you purchased. Most electronics will use energy when plugged in, whether you use them or not. All this adds to the cost, especially if you are paying for it and not using it.

Storage unit: If you own a house that isn't big enough to hold all your stuff, you may rent a storage unit to keep some of it. That means you are paying a monthly fee to store stuff you are obviously not using, since it isn't even at your house.

Bigger home: You probably have a bigger house or apartment than you need due to all the stuff you own. If you have a bigger home, that means thousands of dollars more in interest charges on your mortgage. You'll need to pay higher taxes, you will have higher utility bills and the overall upkeep costs will be more.

Less productive: The stuff you buy to simplify your life and make you more productive can actually cost you both time and money. A computer can make your work more productive, but not if you spend half your day on YouTube watching videos instead of working. A mobile phone can easily make you less productive if friends constantly interrupt you with calls when you are trying to work.

Chances are that you truly don't realize how much extra stuff you really have. Before you decide that this article is not applicable to you, take a few minutes to go through your house and do an inventory.

Don't forget the closets, drawers, cabinets, the garage, the basement and the attic. Go through each and for every item you come across, ask yourself whether you have used it in the last six months (or the last year if it is a seasonal item). If you haven't, then it's likely something that you will never use and something you don't need.