Image Image Image Image Image Image Image Image Image Image

Affluent Investor | February 26, 2017

Scroll to top

Top

No Comments

Why You Should Empty Out Your Storage Units

Stokado_Self_Storage1

Joshua Becker who blogs at Becoming Minimalist says 1 in 10 Americans rent off-site storage. Twenty-five percent of Americans have two-car garages but don’t have room to park a vehicle inside,
while thirty-two percent can only park one.

We have too much stuff and pay to store more. This is a problem!

Natalie Campisi at Go Banking Rates.com compiled some interesting statistics. The average national storage unit costs are:

  • $40-$50 per month for a 5-by-5-foot unit
  • $75-$140 per month for a 10-by-15-foot unit

Those prices increase for climate controlled units and more square feet.

There are times when a temporary unit is needed. But to store things for months on end is a waste of money that could go towards debt repayment, savings, or investing. Here are a few reasons you might be using one:

You are too attached to your stuff.

Recruit someone to help you go through it!

You may need the stuff someday.

“Someday” may be costing you more than it’s worth. Why not sell it and make money or bless someone else by giving it away?

You don’t have time for a yard sale.

Being lazy is just plain expensive. Research competitive rates and sell valuable items on eBay, Craigslist, or Facebook. Have a storage unit clean out party and celebrate afterwards.

You don’t have time to go through it.

Do you like burning money every month? Challenge yourself to clear it out before year’s end. You may find Christmas gifts or things that would bless another family.

Once you get that unit cleaned out, commit to not renting one again. Focus on accumulating treasures in heaven not stuff here on earth that distracts from our main mission!

 

Originally published on Handwriting on the Wall.

Chuck Bentley is CEO of Crown, a non-profit business and personal finance policy and educational organization, and author of “The S.A.L.T. Plan. How to Prepare for an Economic Crisis of Biblical Proportions” and “Root of Riches, What if everything you think about money is wrong?”

Become An Insider!

Sign up for Affluent Investor's free email newsletter and receive Jerry Bowyer's Special Report, "How to Be an Affluent Investor in the Age of Obama & Ineffectual Republican Opposition."



The Affluent Mix

Become An Insider!

Sign up for Affluent Investor's free email newsletter and receive Jerry Bowyer's Special Report, "How to Be an Affluent Investor in the Age of Obama & Ineffectual Republican Opposition."