Stress for Success
February 14, 2006


Simplify your life by buying less stuff and managing your finances

Simplifying your life definitely reduces stress. One important area for the stereotypical American who accumulates too much stuff is to simplify your buying habits and take charge of your finances.

When I returned from the Peace Corps (Colombia 1971 – 1973) I took a job in Boston. Not knowing a soul there, I looked through roommate ads and ended up renting an apartment with three teachers.

In this tiny, doll-house-like place, where space was a valuable commodity, I was assigned one shelf in the hall closet for my toiletries. My handful of items looked laughingly lonely on that bare shelf. Their shelves were crammed with mountains of endless supplies – for what, I couldn’t imagine. Because I only took up a tiny corner of my shelf I gave them the rest.

Thirty-three years later I can fill up shelves better than before but I’m still nowhere near as adroit at it as they were. Most Americans buy stuff they soon forget they even own. The clutter of it also adds to your stress (not to mention the drain on the environment).

My very wise husband is fond of saying, “You don’t own your possessions, they own you”. Ponder this simple truth. If you complain about working 60 hours a week to earn enough to pay your mortgage, consciously admit that you’ve chosen a certain caliber of home. Instead, you could choose to live more modestly and be less pressured financially. You might even gain time to do the things you say you miss.

To pursue buying and financial simplicity:

• Go through every drawer and closet in your home and office and toss out everything you haven’t used in one year. Put away into a box those things you simply cannot part with and date it a year from now. If you don’t look for anything in that box over the next year toss it.
• Make a purchasing rule a dear friend and Olympic shopper did. She allowed herself to only buy things for which she had the cash. She noticed that those things she passed up for lack of cash were things she didn’t even want later on. She became very aware of how much impulse buying she did of stuff that really didn’t matter.
• When shopping take along no credit cards or checks but only the cash you’ve decided you can afford to spend.
• Follow Debtors Anonymous advice.
• Create a real budget. Break down your expenses into your general categories of spending; mortgage/rent, food, entertainment, monthly bills, kids’ items, clothing, etc. Decide what you can spend on monthly based on your income and divide it among your categories. Document what you actually spend every month. If the income is less than the expenses then obviously you must cut the expenses. To help you do this,
• Divide your budget items into two columns: what you need and want. You need a pair of shoes; you may want fifteen pairs. You need a car but want a Jaguar. Start slashing from those you want to make sure there’s enough for what you need.
• Reduce your entire budget by 10 – 15%. Next year cut more.
• Decrease your spending on outside entertainment, one of the surest ways to blow your budget.
• Work with a financial counselor to pay off your debt, no matter how slowly.
• Downsize your home and invest the difference.

Simplifying how you manage your money is a profitable first step to reducing your financial stress.

Jacquelyn Ferguson, M. S., of InterAction Associates, is a trainer and a Professional Coach in Lee County. E-mail her at http://www.jackieferguson.com/ or call 239-693-8111 for information about her workshops on this and other topics or to invite her to speak to your organization.