You might’ve heard the saying that what you own ends up owning you. Well, it also ends up costing you – and in today’s economy, that tab is getting even higher. More than one in 10 Americans rent storage space to hold their excess stuff, paying an average of $165.55 a month in June, which was about 20% more than what they paid in 2019, the Wall Street Journal reports. In fact, America’s storage addiction has helped public storage and warehouse leasing grow into a $35.4 billion industry this year, according to IBISWorld market research.
But we’re not just talking about the rising cost of self-storage units. Have you ever stared at a closet full of clothes, but still struggled to find something to wear to work or a special event? Or bought duplicates for things you didn’t realize you already had, because they were buried in the back of a crowded cupboard or cabinet? You’re not alone. One 2017 survey found that U.S. households were spending $2.7 billion a year replacing lost items. So here’s a look at four ways your clutter could be costing you, followed by some tips for freeing yourself from having too much stuff. 1. You’re throwing thousands of dollars away on things just sitting in storage. As noted above, the average cost to house the stuff that doesn’t fit in your home runs more than $165 a month, which comes out to just under $2,000 a year. But that price can vary depending on location. Take New York City, for example; this MarketWatch author has a loved one who is spending more than $400 a month on their storage unit, which comes out to almost $5,000 a year. And Mar …
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But we’re not just talking about the rising cost of self-storage units. Have you ever stared at a closet full of clothes, but still struggled to find something to wear to work or a special event? Or bought duplicates for things you didn’t realize you already had, because they were buried in the back of a crowded cupboard or cabinet? You’re not alone. One 2017 survey found that U.S. households were spending $2.7 billion a year replacing lost items. So here’s a look at four ways your clutter could be costing you, followed by some tips for freeing yourself from having too much stuff. 1. You’re throwing thousands of dollars away on things just sitting in storage. As noted above, the average cost to house the stuff that doesn’t fit in your home runs more than $165 a month, which comes out to just under $2,000 a year. But that price can vary depending on location. Take New York City, for example; this MarketWatch author has a loved one who is spending more than $400 a month on their storage unit, which comes out to almost $5,000 a year. And Mar …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]