Why Storage Units Don’t Always Make Sense! (Cents)
“Build it and they will come” doesn’t only apply to baseball fields. It could easily apply to self-storage units, “Build them and stuff will come.“
But does it really make sense paying to store things you aren’t using? For many of us, self-storage units represent a temporary solution that turns into a permanent financial drain; a large monthly leak from our bank accounts.
Why would a person would rent storage?
1. “I don’t have room for it in my house, but it’s worth money. I can’t just donate it or throw it away.”
2. “I paid good money for it. I can’t just donate it or throw it away.”
3. “I might need it someday. I can’t just donate it or throw it away.”
4. “I’m keeping it for my children. They might want it someday.”
5. “I’m moving and I don’t have time to sort everything out. I’ll just put the extra in storage for a couple of months, until I get around to dealing with it.”
However, does paying for storage really make financial sense? We sometimes get emotionally caught up with how much money we paid for something or how much it might be worth someday, while forgetting about the money that is quietly draining away every month we auto pay to keep the stuff.
Beware the storage unit!
Consider the real cost. In Bellevue, WA, a modest 7’ x 10’ storage unit rents for about $115/month. Get on their web pages and read, “Great deals! Discounts on units of every size! First month free! ” Let’s include the specials at “only” $100/month with the first month free; that’s $1,100/year!
Can you say, “There’s no such thing as only…”
How much are those things you want to store actually worth? Are they worth $1,100? What if you store them for 2 years, would they be worth $2,300? (Remember, that first month was only free once.) Beware the storage unit!
What are you really paying for? Are you paying $1,200/year to avoid facing the emotions of letting go? Perhaps you need the gentle, non-judgmental help of a professional organizer.
Can’t afford it?
Can you afford to ignore a leak that drains $1,200/year from your bank account?
Contact Moving Forward, we can help you de-clutter, organize and save the monthly storage costs!
**originally published 2/1/12