Skip to main content

5 Reasons why we hoard - and they're wrong

"Less is More" is one of the catch-cries of downsizing. Often the fewer things we have the more we value them.

So it's a great title for a book that's basically a manual for how to de-clutter your home.

The introductory chapter of Less is More: How to De-clutter Your Life gives some great insights into why we find it so hard to reduce our stuff. Here are 5 of them - the last one is one of the biggest for me.

1. The cost of holding on.

We were raised by our parents and grandparents and in their day items were expensive and space was cheap. It made sense in those days to hold onto stuff just in case you ever needed it. But today housing is expensive and items are cheap. It's hard to change a habit, but now we save much more by downsizing.

2. Keeping it in the family.

For some reason we prefer to give things to those close to us. Again this was viable in the days of big families and lots of children to receive hand-me-downs. But these days we have smaller families and there are plenty of others to give (or sell) items to.

3. On sale.

Often when things are reduced we think it's a bargain. If we don't need it, it's still not a bargain.

4. Advertising.

I've blogged about this before. Advertisers' lives are about getting us to to buy things we wouldn't otherwise get. They try to convince us that our life will be better with more stuff. Often they succeed. But deep down we know we'd be happier with less.

5. Green reasons.

This one is particularly big for me. It seems such a waste to throw something away, especially if I haven't used it. But really, the environmental footprint from making it has already been made; and storing it in the garage forever is basically the same as landfill. The best thing we can do environmentally is to get it into the hands of someone who'll use it.

Comments

Popular posts from this blog

The Latte Factor

For the first time ever I'm reviewing a novel. Latte Factor is a short story  - around 120 pages - and is equal parts of inspirational story and financial education. The combination of the two is quite rare, and done quite nicely. The story is about Zoey Daniels, associate editor for a travel magazine. Although she's never been outside the USA  - "a travel editor who's never travelled". She struggles with money and is considering a higher-paying job at the company her friend Jessica works for. The job would provide more income, but would also be more stressful and demanding. She already has a nightmare about being on an increasingly-fast treadmill that she struggles to stay on. Her current boss Barbara - aware only of the money situation - suggests she talk to Henry at the coffee shop. This peculiar suggestion is where Zoey's life begins to turn a corner. Spoiler Alert Being a book of fiction, I don't want to spoil the story for you. It's a book you ca...

Dollars and Sense

Dan Ariely is an expert on human psychology and decisions. His book  Dollars and Sense is focussed on how to avoid "money mishaps" . That can include paying too much for something; buying something that doesn't provide value; or in some cases not buying something that we really should buy. We can be better spenders of money by avoiding money mishaps. We can get more value for our money - or get the same value for less money. So what are the mishaps? Here are some highlights. Opportunity Cost This is the idea of thinking about what else we could do with money - and whether that's better value.  In one experiment, people were given the option of (A) a $1000 stereo or (B) a $700 stereo and $300 cash. People chose option A. Then people where given the option of (A) a $1000 stereo or (B) a $700 stereo and $300 worth of music. Now they chose option B. In the first choice, people gave up the $300 because they wanted the more expensive stereo. But when forced to think of some...

Monopoly, money and you

One of the most well-known board games can also be a great way to learn about money and investing - according to this book. Perhaps one way to teach kids (and maybe ourselves) about finance is to play a board game. In so many ways, the game parallels our own financial life - and we can practice financial decision-making without losing any real money. Is monopoly like life? Yes and no. We manage our cash, negotiate, make deals, make choices, go through tough times, make investments, pay tax and reap rewards. To do well we have to make investments. It's very hard to win just by collecting $200 each time you pass go. There are rules, and wise moves. The better we know them, the better we do. However, in real life, you can win without forcing others into bankruptcy. Principles that work in the game and life Diversify. You might have hotels on the two most expensive properties on the board, but if no-one lands on them, you still might lose. Investments have a price and a value. They are...