Skip to main content

We save $35/wk. See how you might save $160/wk

Our place has a great view. That and saving almost $2000 a year are benefits of decluttering.

My visiting friend

Today, upon seeing the view, my friend's phone appeared in seconds. Not our first visitor to impersonate a tourist and definitely not the last.

Later in conversation he commended my wife and I on recycling (by selling our excess possessions) rather than adding them to landfill.

He was also glad that we were making some handy money from it. But it's even better that he knows.

This is not about selling

Is this another story about how much you can make by selling your unwanted items? No. At least not this time.

Today I'm talking property and how to save on what is probably your biggest expense.

How to shrink your rent

When my wife and I were looking around to find our current place it came down to a final two.

This one has a great view. The other was in much newer condition. Those two things cancelled each other out.

The other place also had a slightly bigger second bedroom, a bigger kitchen and a double garage. We need none of those things now, but the bigger spaces meant a bigger price tag. 35 dollars a week bigger.

Instead we're now saving $1,820 every year. If we stay five years, we'll save more than $9,000.
(And did I mention the great view?)

How you can save even more

We made a good saving by choosing wisely between two 2-bedroom units. Far greater savings can be made by switching to a place with one less bedroom.

Almost half of Australian homes have two spare bedrooms (75-80% have one). They're not really bed-rooms. More like 'stuff-rooms'. Often stuff we don't need that can be decluttered.

Looking at suburb profiles in my area it's amazing how much you can save by going one bedroom less.

Save $160 when renting in Brisbane

For apartment living you can save $160 per week ($8,320 per year) by going from three to two bedrooms. For houses it's about the same if you go from a four to a three.

Save $160 when renting in Brisbane

When you factor in tax, saving $8,320 is like getting a $13,000 pay rise at work. That kind of pay rise might be unlikely (unless you're a CEO) but we can achieve the same effect just by having less clutter.

Tools to help you save

If you're in Australia, enter your suburb name to see the rent comparison for your area.

If you're looking to declutter, check out Less Clutter More Cash - my free guide to downsizing by selling online. The money from selling comes in handy when moving.

PS. Here I've talked about renting, but the situation is true for home owners. In way it's even better, because downsizing can mean a cash lump sum, or much smaller mortgage repayments.

Comments

Popular posts from this blog

Less Clutter More Cash - now available

Do you feel like you have too much stuff? Is your home full of things you never use? Would you like to swap them for cash? We did My wife and I have sold more than 550 items online as we downsize and we've learnt a bit along the way. I've put some of our best tips into this handy ebook. I hope you can use these tips so you too can have less clutter and more cash. Enter your email address below to receive the book for free. Less Clutter More Cash Get my new ebook for free. PS. This will subscribe to the But Wait There's Less email list, so you'll know when the new updated version of the book is available. You can unsubscribe at any time.

Motivated money - book review

This book is often recommended. The author sees shares as safer than term deposits, prefers low dividends and isn't keen on property. I was keen to read it. Here are my highlights: Two tips Spend less than you earn. Borrow less than you can afford. Those two tips alone would help so many people. Assets and liabilities What we often call assets are really liabilities (they cost us to maintain). Houses, cars, boats can be liabilities - useful for "status or position in the pecking order" . He uses the example of a retiree with $3 million in assets. A million dollar house, a million dollar boat and two $500k cars. They sound wealthy but how will they buy food, let alone pay the ongoing costs of all those items. By contrast, assets bring in an income. Attitude to shares He says the sharemarket is our friend, and "provided it is treated with respect, it creates appropriate wealth for all those who use it sensibly. However if we approach it as a gambler, we need to be prep...

Big motivator for small living

It's been a while between posts here - mainly because we've been moving house. It's been a real motivator for downsizing. Packing each and every item we owned, really makes me wish there were fewer of them. Moving everything from the old apartment to the new one made me envious of those people who live in a "tiny house on wheels". For them moving house simply means towing it to a new location. No packing required. The whole process has reaffirmed our commitment to owning less stuff. So we're going to be intentional about downsizing. It will be an ongoing activity. My environmental heart couldn't stomach a spontaneous dumping of things into the garbage, but it's also more fun this way. Selling things online brings in some handy pocket money. Giving items away is also a great community activity, whether it is to friends and family, to charity or to people in the neighbourhood. I'm looking forward to it as a lifestyle rather than a task to do....