#030 | Decluttering + Money

April 22, 2020

Episode Summary

In this episode, Mike and Maggie follow-up on their minimalism + money episode with a more tactical discussion on decluttering. This episode will help inspire you to declutter with specific tips and recommendations on how to get started, what to focus on, inspirational resources, and much more. We talk through three key areas of focus – (1) Decluttering tips for minimizing what you already have, (2) Limiting new items you bring into your life, and (3) Digital decluttering.

Episode Notes

We talk through three core areas of focus for decluttering:

#1 – Decluttering tips and a plan for minimizing what you already have:

Read some inspiring books, podcasts, blogs, or watch some youtube videos
Know your “why” and what’s motivating you.
Start with yourself vs. trying to get others on board before you’ve made progress.
Start with easier categories first and finish with more complicated categories like sentimental items.
Figure out a process and approach that works for you – there are many to choose from.
Take pictures of sentimental items versus feeling like you have to keep them all.
You do not need to spend money on organizing supplies to declutter your home. Challenge yourself to focus on decluttering without spending any money.
Consider what items you declutter that can be donated or sold. Selling items is a great way to make some extra money.

#2 – Limiting new items you bring into your life:

Decluttering can simplify your life, but limiting new stuff is how you can create better financial health and save for the future.
Don’t buy anything you think you need/want that day. Wait at least a week, and then decide if the urge is still as strong. You will often notice it goes away.
Put a shopping ban in place. If you do need something then sit with that desire for a while. Think through how it’s making you feel to want that thing and why you might want it. At the end of the shopping ban you no longer have the same desire for that item.
Stop going to Target. Seriously. Target has free 2-day shipping for red card holders, so consider using that to avoid as many trips to Target.
The 1 in and 1 out rule. If you bring in something new, you have to get rid of something old.

#3 – Digital Decluttering

We only scratch the surface on digital decluttering, but consider how you are managing your digital clutter also. For example, a cluttered desktop on your computer can be very distracting.
Consider financial decluttering opportunities to simplify your bank accounts, stock accounts, etc. But also recognize at times you may need to create additional accounts in order to leverage different financial opportunities (e.g. FSAs, HSAs, IRAs).
Consider scanning items and using tools like Evernote to easily capture/store documents.

Our top 3 takeaways for this episode:

Think about your why and use that to motivate you.
Prioritize spending time decluttering right now or very soon. Remember stuff doesn’t create happiness, and it’s actually quite the opposite. Set a goal to spend a certain amount of time each day and get your whole family involved with that goal.
Set some intentions and goals about how you’ll limit new items you bring into your home.

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