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The cost of storage

October 3, 2008

Do you have items in storage? How much does that cost you each month? Why are you storing those items?

I must admit I got the idea for this post after reading a story on The Dollar Stretcher written by a woman whose family spent money each month for years storing items because of family issues. It’s too long of a story to recount here, but you can check it out for yourself if you’re interested.

Many of us end up utilizing a storage locker at some point in our lives when we’re faced with a pile of belongings that we don’t have room for or that we don’t have a use for at the time. But, when is it a good idea to store, and when is it a good idea to get rid of some stuff?

Storage may be a good idea if you have items that you truly will have a use for in the future, but are in a temporary situation where you don’t have another place to keep them.

For example, several years ago I moved out of my apartment and back in with my parents for about a year. I had furniture at my apartment that I knew I would need when I moved back out. There was definitely no place to keep it all at my parents’ house, so I rented a storage locker.

After my stay with mom and dad, I took my belongings out of storage when I moved into another apartment.

Storage may not be a good idea if you have items that you just don’t want to deal with.

Sorting through your stuff and getting rid of stuff you don’t want can be a big headache. Some people simply stick a bunch of stuff in storage because they don’t want the hassle, or they are at a loss as to what to do with everything.

You have to deal with it at some point. First of all, you’ll have to shell out money every month that could be put to better use (paying down debt, a savings account). Second, unless you want to pay for storage for eternity, all you’re doing is postponing the inevitable.

Use an organized approach to clearing out stuff that you really won’t have a use for. Divide everything into two piles.

One pile is stuff that could be thrown away. This pile should include anything that is in such bad condition that no one would want it or it would be too costly to repair.

Your second pile should be for items that could still be useful for someone, just not for you. You may know people who want some of the items. You can donate the rest of the items to an organization like the Good Will (Remember that you can deduct donations from your taxes), or you could have a yard sale and pocket some cash immediately.

Make sure you look at all of your options when decided whether you should store items, and make sure the cost is worth it.

Written by admin · Filed Under Misc. 

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