Category Archives: Personal

Career Loss Amplifies the Need to Be Completely Debt-Free

By Claire Posted in Debt-Free, downsizing, Personal, Retirement, Simpler Living, Small-House Living Tagged , , , , , , ,

We paid off our last mortgage when we were 44, one year earlier than this guy says you should pay it off.

His reasoning is this:

“The reason I say 45 is the turning point, or in your 40s, is because think about a career: Most careers start in early 20s and end in the mid-60s,” O’Leary says. “So, when you’re 45 years old, the game is more than half over, and you better be out of debt, because you’re going to use the rest of the innings in that game to accrue capital.”

I agree with him, but let’s take it a step further. For an increasing number of people, “the game” was over by the time they were 50 or 55 or 60. Their job went overseas, or they were let go in a downsizing, or younger people willingly to accept much lower pay were promoted over them and then they were sent packing. Now they’re working at a job beneath their capabilities and earning far less than they did in the career they spent most of their life on.

When you’re in that position, there’s no time to “accrue capital.” You’re in survival mode. And when you’re in survival mode, the very best place to be is debt-free. When you own your home outright, no one can kick you out unless you don’t pay your taxes (which is why if you’re forced to downsize your life, you should move to an area where you can afford the taxes). So you’ll always have a roof over your head.

We were forced to sell our paid-off house five years after we paid it off, because a career loss meant that “the game was over” for us, and we could no longer afford the skyrocketing property taxes. We did not reinvest all the money we made from the sale of that house in a new house; in fact, we spent less than a third of that money on the next house.

This worked out very well for us. But the point is, we had the option of doing this because WE WERE AND ARE DEBT-FREE. So whether your “game” ends at 50 or 80, pay off all your debts as soon as you can, including your mortgage, and you will be in the best position you can be.

“I Was Gonna”

By Claire Posted in Clutter, downsizing, Personal, Simpler Living, Small-House Living Tagged , , , , ,

Were there ever three words that got more people into clutter trouble?

“I was gonna learn to paint so I collected all these paintbrushes, paints, books about painting, and canvases I bought on sale that are sitting, covered with dust, in my basement.”

 

“I was gonna start a jewelry making business, so I started collecting tools, stones, books about making jewelry, magazines about making jewelry, and display cases I was going to use at craft sales, all of which are now parked high up in the top of my garage rafters.”

 

“I was gonna start an in-home daycare, so I bought up toys on sale, including big climbing toys that fill a corner of my backyard to this day, but I never did get that business off the ground.”

Sound familiar?

Here’s one of my own (many) “I Was Gonna” stories. Years ago, I read a book review in a magazine like Glamour or Mademoiselle (remember that magazine?) for a book about making your own wedding gown. So I special-ordered it from Kroch and Brentano’s bookstore.

As it turned out, not long after I got engaged, I found my dream gown on a mannequin in a bridal store. It was only $50, so I snapped it up, and thus didn’t need the book after all. But I kept it just in case.

A few years later my sister got engaged and I thought I’d make her a wedding gown, but I became so busy with my new baby that I quickly realized that I didn’t have time to take on such a project. But I kept the book so I could make my baby girl’s wedding gown someday.

And I kept that book for 30 years. Finally, during our big purge several years ago, I admitted defeat and donated it to the local Goodwill.

Since then, two daughters have gotten married. One eloped, and the other wanted a specific gown that she saw in a bridal shop. So I never would have used the book anyways!

How many things do you have that are “I Was Gonna” items? Things you were gonna do but never did. Have you gotten to the point that you can admit that you’re never gonna do them? That you had good intentions but life got in the way?

It’s OK to admit that, by the way. It happens to everyone. The important thing is what needs to happen after you admit that you’re never gonna use that stuff: you let it go.

That’s right, just move it along. Donate it, give it to someone who wants it, or pitch it (especially in the case of very old, dried-up tubes of artists’ paint.)

Let yourself be who you are today, not who you were back in the day or who you intended to become. The space you reclaim will be your reward.

 

The Joy (and Danger) of Estate Sales

By Claire Posted in Clutter, downsizing, Personal, Simpler Living, Small-House Living Tagged , , , , , ,

Once we got rid of more than half of our belongings when we downsized, I figured going to estate sales would now be out of the question for me. Otherwise, how would I handle the temptation of more stuff?

I’ve been going to estate sales for years. I used to live down the road from a very wealthy town where people lived in beautiful old houses on acreage. Those were truly estates! By going to the estate sales, I could go inside these lovely old houses, appreciate their architecture and decorating, and sometimes pick up a few goodies as well.

Now that I’m committed to not bringing home more stuff unless I get rid of an equal amount simultaneously (so that I never overstuff a home with clutter again), I’ve been surprised to discover that going to an estate sale can actually encourage me to stick to my guns.

How can this be? Well, now when I go into a house where an estate sale is taking place (as I did the other day), and I see table after table covered with old glassware and plates, countless knick-knacks, faded costume jewelry and worn linens, I think with gratitude that I’m glad this mess isn’t mine, and that I don’t have to deal with it. It’s a good reminder of the quantity of stuff we went through when we downsized, and how happy I am to have that behind me.

Of course, my stuff was newer than most of what I see in estate sales. But it’s the sheer quantity of stuff spread all over someone’s home that is a good visual reminder of how much stuff a house can hold if you don’t stay on top of things.

So going to estate sales actually helps me keep on top of my own clutter. But there are other benefits as well. Since I no longer live near that wealthy area, the houses I go into now aren’t palatial or architecturally significant. But their contents often include things I remember from my childhood, so it’s almost like going into a museum of my youth.

For instance, at the sale I went to the other day, I saw an ashtray with a gold-colored metal top and a red-plaid bean-bag bottom, just like one I remember from my grandpa’s house. Seeing it took me back to Sunday afternoons visiting my grandparents, where the women chatted in the kitchen while Grandpa and my uncles sat around the tiny black-and-white television set, drinking beer and smoking cigarettes as they cheered on the Sox. All those important people in my life have been gone for years, but what a nice memory of them that ashtray brought back to me.

That’s why, as long as I can keep to my pledge not to bring home anything unless I get rid of something else, I will keep going to estate sales.

Channeling My Inner 12-Year-Old

By Claire Posted in Clutter, downsizing, Personal, Simpler Living Tagged , , , , ,

Thanks to a years-long economic downturn, many of us have lost our livelihoods and must pare down our belongings and find a more affordable way of life.

It’s called downsizing your life, and it’s not easy. For me, one of the most challenging aspects was figuring out who I was and what I was going to need in my new downsized life.

It had been so long since I was free to do what I wanted, yet I couldn’t do anything expensive. I wouldn’t be able to afford to take up skiing in Aspen. I couldn’t become one of those people who go on three cruises a year. And I certainly wasn’t going to be able to open up a cute little gift shop in a tourist town; who’s got the money for that kind of overhead?

That said, those of us who tend to be frugal have always known that you don’t need much money to have fun. That belief is what finally helped me discover which few items of my oversized lifetime accumulation of stuff should be kept, and which needed to go.

In the end, what I figured out was that I still love to do the things I loved to do when I was 12. And since I, like most 12-year-olds back then, had very little money, the things I enjoyed cost little or nothing.

Why 12? For me, by age 12 I already knew my own mind but had not yet been distracted by boys (age 14+), the pressure to get good grades (ages 14-21), career success (age 21 +) and motherhood (age 25 +).

At 12, I read voraciously, often to escape the boredom of the classroom. I read books from the public library, so there was no money involved.

At 12, I learned to sew. Whenever I visited the small Southern town where my grandma lived, I stopped by the local fabric shop and picked up a bag of remnants for 25 cents. This kept my little sisters in doll clothes and me in sewing projects. Cheap fun!

At 12, I loved music. My little black transistor radio brought me great joy, as did my record player and a growing collection of record albums.

At 12, I loved to ride my bike all over town. It provided an escape from my family and the most freedom I would know until I learned to drive a few years later.

At 12, I had a garden. I grew bachelor buttons and potatoes and green beans. I still remember the taste of hot buttered potatoes fresh from the garden….mmmm!

Once I rediscovered these joys at the age of 50+, it became much easier to decide what to keep. I kept my very favorite books, my long-forgotten sewing supplies and our gardening tools. And I bought a nice high-quality Trek bicycle.

Everything else had to go, including the rest of the books. (We had accumulated hundreds over the years). Now I live with only my most favorite items, and they’re being used all the time.

Thanks to technology, many of my favorite things take up little space and cost little if anything. Books that aren’t in our public library can be stored on my Kindle. Going to YouTube lets me hear entire albums. Pandora offers a great variety of music whenever I want it.

So now I can enjoy my favorite activities with low clutter and at little or no cost; I call that the joy of downsizing!

If you’re overwhelmed by years of accumulated stuff and need to downsize your life, take some time to go back to your youth. What did you like when you were 12? How did you spend your time outside of the classroom? What did you enjoy doing before you were distracted by adult responsibilities? I’ll bet you’ll find some clues there.