Monday, April 13, 2009

Your Money or Your Life Monday: What's Your Stuff Worth?

It's not as much as you'd think.

The next exercise the book advises is for you to take a physical inventory of everything you own. This includes everything from your dishes to your clothing. Let's not forget toys (especially if you have little ones), lawn equipment, appliances, electronics, get the picture.

I know my husband and I (with two kids under five) have a lot of stuff. But when I had to physically inventory everything that I own, it was pretty disappointing. Not including any cash, investments, house, etc., the total of just concrete stuff came out to approx. $30,000. That's over 10 years of accumulation! And all I have to show for it is $30,000?! For the record, the way you're supposed to calculate the value is to determine how much you would get for the item at a garage sale or thrift shop.

The moral of the story is that the more you buy and accumulate, the less you really have. It will definitely make me think twice when I run out to buy new clothes or buy the kids new toys. I'm just shocked! So what's next? The next exercise the book suggests is determining how much "life energy" your job takes as well as how much life energy your stuff costs. Stay tuned...

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