Looking to get rid of most possessions you have to live a simpler life? Great, I want to share with you how downsizing can save you money. This helped me saved thousands of dollars and you could too.
Selling your items.
Don’t just throw away your possessions, you might think it’s not worth anything but you would be surprised that people will pay for what you have. Selling your stuff online is now easier than ever here are some places you can list your stuff
- Facebook marketplace
- Ebay
- Etsy
- Craigslist
If you have a car and live somewhere that is accessible by bus or train you can opt to sell your car. Doing this you will save on monthly car insurance, lease if you have one, gas and maintainence. You can buy a bicycle as well and the only energy you will burn is some calories. You can also take a ride sharing service which can add up and be expensive but it still works out cheaper in the long run than owning a car. You can carpool to work if you have co-workers going the same route and still save money
If you own a home you have a few options.
Sell your home.
You can sell your house and move to a cheaper location or just rent. When you rent you don’t have to deal with any maintainence or property taxes.
Rent out your home
You can also choose to just rent your house instead of selling to keep your long term so the value keeps going up or make passive income.
Either options can work for you depending on your situation. This is a good option for retired people or folks with no children. Having children can make theses options difficult but with some planning you can make that decision if it’s right for you.
Fewer possessions to upkeep and maintain means you are saving a lot more. Fewer clothes to wash, less money spent on frequently buying detergent. This will impact your electricity bill. You will spend fewer money overall.