Sunday, August 14, 2016

Downsizing? Ditch These Items


Downsizing? Ditch These Items

Here's what you should pitch so you can get organized and reclaim some space

 Downsizing? Ditch these 10 items  Consider making the move to a smaller home as soon the kids are gone, rather than when you’re ready to retire

The Big House

En espaƱol | Consider making this decision as soon the kids are gone rather than when you're ready to retire. Even if your home is already paid for, there are still significant costs in owning more space than you really need, including taxes, utilities, insurance and repairs. Plus, it will force you to downsize other belongings, too. You'll also have an excuse for why the kids can't move back in with you later! — Istock

  •  Downsizing? Ditch these 10 items  Consider making the move to a smaller home as soon the kids are gone, rather than when you’re ready to retire

    The Big House

    En espaƱol | Consider making this decision as soon the kids are gone rather than when you're ready to retire. Even if your home is already paid for, there are still significant costs in owning more space than you really need, including taxes, utilities, insurance and repairs. Plus, it will force you to downsize other belongings, too. You'll also have an excuse for why the kids can't move back in with you later! — Istock
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  • senior woman working with laptop and finances

    Debt

    Over the course of a lifetime, the average American today will pay more than $600,000 in interest on all the money he or she borrows, according to CreditLoan.com. Pay off debt as quickly as possible.Definitely pay it off before you retire. Live by this old-school rule: If you can't afford to pay for it now, you simply can't afford it. — Istock

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  • Clothes

    If your wardrobe has outgrown your closet and dresser, start by purging enough pieces so that everything will fit. Get rid of unwanted clothing at yard sales or online, or by donating items to charity. — Shutterstock
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  • Downsizing? Ditch these 10 items  - Anything in Offsite Storage

    Anything in Off-Site Storage

    According to the Self Storage Association, there are about 50,000 self-storage facilities in the U.S. That's more than five times the number of Starbucks! Vow to eliminate storage fees by getting rid of enough stuff so that all your possessions fit in your own home. — Istock
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  •  Downsizing? Ditch these 10 items  - Exercise Equipment
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  • Downsizing? Ditch these 10 items - Kitchen Appliances and Gadgets

    Kitchen Appliances and Gadgets

    Ask yourself: "When was the last time I plugged that in?" If it's been more than six months since you've used the waffle iron or bread maker, it's probably time to find that appliance a new home. While you're in the kitchen, eliminate unused culinary gadgets and nonmatching tableware. — Shutterstock
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  •  Downsizing? Ditch these 10 items - Extra Car

    Car

    Besides downsizing your home and eliminating debt, getting rid of one — or all — of your vehicles could result in the greatest savings. According to AAA, it currently costs an average of $8,698 annually to own and operate a vehicle in the U.S. if you factor in all the costs, including depreciation. If you're a two-car family, getting rid of one set of wheels might make sense once one or both partners are no longer working. You might be able to get by with public transportation or a car-share program, or at least downgrade to less-expensive vehicles. If you're planning to relocate in retirement, there are communities where owning a car may not be necessary. — ZUMA Press/Alamy
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  • Downsizing? Ditch these 10 items - Childhood Memorabilia

    Childhood Memorabilia

    If your kids or other family members don't want keepsakes from their own childhood (or yours) now, they're not going to want them when you're gone. Hold on to a few precious, symbolic mementos — those that truly spark memories and joy — and digitize images of the other things. — Getty Images
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  • Downsizing? Ditch these 10 items - Furniture

    Furniture

    Filling — and too often, overfilling — a room with furniture is a common tendency. Doing so makes the room seem smaller and gives you more places to store and display more stuff. Start by eliminating a couple of pieces from a room and see how much more spacious it feels. — Taylor S. Kennedy/Getty Images
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  • Downsizing? Ditch these 10 items - Books, Magazines, DVDs

    Books, Magazines, DVDs

    Unless a book has sentimental value or you're going to read it again, put it back into circulation via a yard sale or thrift store so that others can enjoy it. Or donate it to your library, where you can always get free access to books, CDs and DVDs. You can store countless e-books (many are available for free) on an e-reader that's smaller than a single print volume, and you can easily digitize your music and movie collections. — Istock
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  • Downsizing? Ditch these 10 items - Personal Papers and Records

    Files

    Consumer Reports advises organizing your important files into four categories: "papers that you need to keep for the calendar year or less; ones that can be destroyed when you no longer own the items they cover; tax records, which you should save for seven years; and papers to keep indefinitely." You can access copies of many documents (e.g., bills, bank statements, user manuals, etc.) via online accounts. Consider storing digitized documents on a Web-based storage service or an external drive. — Istock
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  • Downsizing? Ditch these 10 items - Decorations

    Decorations

    While holiday decor has some sentimental value, consider getting rid of the decorations you haven't used in the past five years, particularly bulkier items such as outdoor decorations and holiday tableware you use just once a year. — Getty Images
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Exercise Equipment

If the exercise bike or treadmill in your bedroom has morphed into a permanent clothes rack, donate it to a local thrift store or charity. — Joshua Dalsimer/Corbis

Clothes

If your wardrobe has outgrown your closet and dresser, start by purging enough pieces so that everything will fit. Get rid of unwanted clothing at yard sales or online, or by donating items to charity. — Shutterstock


http://www.aarp.org/money/budgeting-saving/info-2015/downsizing-items-to-ditch-photo.html?cmp=SL-DSO-OUTBRAIN-DESKTAB-MONEY--SLIDE-PV_Downsizing%3F+Ditch+These+12+Items_1054317241_5376658#slide1