In a recent poll, Smart Money asked readers how much they thought their “stuff” — furniture, clothes, appliances — are worth as a percentage of what they paid for them. The majority believed it was worth at least 50% to 70%.
Well, have you ever tried to sell your stuff? Unless you own a really good art collection and know a thing or two about antiques, you would be horrified about how little your stuff is really worth.
I had to face this fact recently when I sold about a third of my stuff. We are making a big move and our new home is far smaller so we had to get ruthless. I had ideas of using the funds I would make from my sale to recover some chairs — Ha!
Work jackets that you would pay at least R1 000 for new would get you no more than R100 if you are lucky. I had the same experience with a dress I wore once and paid far too much for. In fact I reached a point where I felt better giving my clothes to charity where at least they would do some good.
Furniture suffered just as much. Initially I planned on selling it to a second hand store but the prices were so ridiculous it made more sense selling it through my domestic workers’ network to people who would have just paid inflated prices for the same item at the second hand store.
I was told that the most I would get for a beautiful large mahogany desk that belonged to my father was R2 000 — new you wouldn’t get away with less than R20 000. I gave it to a good family friend instead.
What this experience taught me, apart from the fact that I will only shop at second hand stores from now on, was that it really, really makes no sense to buy stuff on credit.
You would be lucky to get the interest you paid back when you sold it let alone the capital you actually paid. It also made me aware of how much stuff you collect that you really don’t need — in fact the feeling of liberation as dustbin bag after dustbin bags left my home was incredible.
I have already set my New Year’s resolution — no more stuff. For my birthday I have asked for experiences, nothing that I have to pack in a box.
In the US there is a “100 Thing Challenge” where people are trying to whittle down their belongings to just 100 items.
I am not sure if I’m quite there yet but it is certainly something to aim for.
In a Times magazine article, organisational consultant Peter Walsh makes a very valid point: “It’s not necessarily about the new pots and pans but the idea of the cozy family meals that they will provide. People are finding that their homes are full of stuff, but their lives are littered with unfulfilled promises.”
So, in the New Year rather fufill your promises than your home.
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