InCharge Money 101
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Saving Money through Downsizing

If the family has grown and gone, and you’re left with more home than you need, it may be time to downsize. Moving to a smaller dwelling has some distinct advantages: you can save money, you can find a place to live more suited to your lifestyle, and you can have a home that’s a better fit and therefore easier to keep up with in terms of cleaning and maintaining.

But it can be a challenge to move out of a home you’ve lived in for many years. Both physically and emotionally, it can be a stressful decision to make and carry out. Here are some tips and strategies to make to the move a little simpler:

Organize, organize, organize!

If you’re like most people, you have probably accumulated a great deal of stuff over the years. While most of it may be yours, some may belong to family members. Choose a room or area of your house with plenty of space, and then start collecting and sorting items. Make piles based on who owns what, or what type of stuff you have.

Pare it down

Call the kids and tell them it’s time to claim their goodies. As far as your own belongings, consider them in terms of how long you’ve had them and how often you use them. Don’t forget: you’ll likely have less storage space in your new place. Got clothes you haven’t worn since the Reagan administration? Time for a garage sale.

Make some cash

A garage or moving sale is a great way to clear things out, and make some money in the process. What you don’t sell, you can give to charity and use as a tax write-off. You can place an ad in your local paper, or simply put some signs out on your street. Ask fair, but low, prices. Remember, you’re not looking to get rich, you’re trying to purge. The better your prices, the faster the merchandise will move, and the less you’ll have to deal with.

Recruit family and friends

They can help with heavier items and boxes and with your garage sale. Don’t try to do everything yourself. You’ll wind up overtired, stressed and unhappy, and you might even hurt yourself. Do what you can, but be sure to ask for a helping hand along the way.

Give yourself plenty of time

Remember, it took years to accumulate all the belongings you have stashed away in your house—so don’t expect to be able to sort them all out quickly. You have memories attached your possessions, and you’ll want to take time to think about the best thing to do with each one. Don’t rush yourself. Take the time you need to do the job right.

The results will be worth it: a simpler lifestyle that fits you perfectly.


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