Frugal storage ideas

Storage costs can add up quickly and impact your budget. Whether you would rather use the money spent on storage to buy groceries or save for retirement, it is hard to argue that paying for storage is wise.

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  • Storage costs can add up quickly and impact your budget. Whether you would rather use the money spent on storage to buy groceries or save for retirement, it is hard to argue that paying for storage is wise.

  • Here are some tips to help you save money on storage:

  • Get rid of stuff

  • If you gain only one thing from this article it should be this: Don’t keep it. Almost every home is full of stuff in corners and closets that haven’t been used in years; most of it completely forgotten and much of it worthless. Those items that do have value are collecting dust and serve no useful purpose. Here are some strategies for getting rid of your stuff:

  • Give it to charity

  • Things that have value (but are not valuable) should be given to Goodwill or other charities that accept donations of old clothes, furniture and household items. Remember, if you itemize your deductions you can save money on your taxes if you get a receipt for your donations.

  • Sell it

  • Sell your valuable items in a garage sale, online with eBay or Craigslist.

  • Throw it away

  • Lots of what you have stored is completely worthless. Just throw it away; recycle what is recyclable.

  • Organize your stuff

  • While you are going through stuff to see what you can sell, give or throw away, take the time to organize it. By organizing your stuff, you can make everything you keep — which must be something you’ll use — easy to find. Put similar things together so that all of your camping gear is in one place and craft stuff is in one place. By putting everything in its own place, you can be sure all those things you saved can be found when needed.

  • Empty paid storage

  • If you have a storage locker that you are paying to use, look to empty it. By purging things you really never use and organizing what is left, you may find that you can either rent a smaller unit or empty it altogether.

  • Home storage isn’t free

  • If a portion of your home, including your garage is being used for storage, keep in mind that it isn’t free. If your home cost $200,000 and you have 10 percent of the home dedicated to storage, you’ve invested approximately $20,000 in storage. Think what you could do with the space if it weren’t full of junk. You might, for instance, be able to put a car in the garage.

  • Find non-traditional storage sites

  • You may be able to find a variety of places in your home for storage. Using boxes designed for this, you can store a great deal under beds in space that is otherwise wasted. Many articles of furniture not traditionally designed for storage can, over time, be replaced with substitutes with storage incorporated (think of an ottoman that doubles as storage).

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  • If all else fails, watch a few episodes of “Hoarders,” then start purging and organizing your stuff. Getting control of your things can make your small home feel bigger and save you money.

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Devin Thorpe, husband, father, author of Your Mark On The World and a popular guest speaker, is a Forbes Contributor. Building on a twenty-five year career in finance and entrepreneurship that included $500 million in completed transactions, he now champions social good full time, seeking to help others succeed in their efforts to make the world a better place.

Website: http://www.yourmarkontheworld.com

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