Stop Wasting Money | Declutter Your Finances Now!

Here are some simple and easy thoughts about how organizing your home can declutter your finances.

The Consumer Financial Protection Bureau claims more than 10% of credit card users paid the banks over 14 billion dollars in late fees in 2022, that is a billion with a ‘B’. Late fees are a charge in addition to interest paid on late remittance.

In a Consumer Report survey, the most common reason people said they were late with a payment was that they thought they’d already paid the bill (27 percent). For 12 percent, one of the problems was that they didn’t know when the payment was due.

Clutter Touches Many Aspects of Your Life

If you are disorganized and want to make some positive changes a good rule is to start by decluttering. Purging as much as you can is the best strategy. If you are old school and not paperless yet getting these bills organized is an important first step.

Don’t waste time and energy organizing all your old papers until you declutter. For example there is no need to save and organize paid utility receipts because these are all easily captured online. Also your payment histories are easy to track online.

To get rid of the negative impact clutter has on your finances follow these few steps.

Better Organization Will Declutter Finances

Do you dread having to pay your bills or have you set up automatic payments? A large percentage of people cannot set up auto payments due to shaky financial situations.

Some older folks do not trust anything involving the internet and finances which is a shame because paying bills online is such an easy efficient way to get the job done. With due diligence online bill paying can be safe too.

Back before electronic bill paying became popular paying bills involved writing checks, addressing envelopes, and the additional cost of buying postage. You would have to allow time for the remittances to travel to the business institution before the due date. This all took a lot of time!

It was common for folks to keep their paid receipts for lifetimes- this could take up valuable storage space! We have it so easy today!

Clutter-free bill paying

Today we click a few keys and the bill is paid. There is no need for paper and postage. We have digital calendars with loud alerts we can set up to pay our bills on time. What is not to love!

Still, Consumer Reports also states that 1 in 5 adult Americans—an estimated 52 million people- paid a credit card late fee in 2023. These fees average about 30 dollars each.

Disorganization Can Cost You a Lot

Declutter Your Finances and Stop Wasting Money

Wasting anything to me is tragic.

Can’t find what you are looking for? Just click on Amazon to buy another! This wastes production time, money, and the shipping can have a negative impact on the environment.

People have so much stuff they rent storage units to hold what is spilling out of their homes and multi garages. This creates another monthly financial obligation.

After paying rent for many years, sometimes when downsizing or moving, folks will visit their storage units and realize their tastes have changed and end up tossing, or selling the contents of the storage unit. So much money lost in rental fees.

Storage Unit rental is big business! According to current data, the average monthly cost to rent a storage unit in the USA is around $122. for a standard size 10×10 storage unit.

Missed Opportunities to Declutter Your Finances

Instead of gathering clutter in spare rooms here is what I do. I use a guest room in my private living space for all my fiber-related art supplies – wools, silks, threads, yarns, etc where I have easy access to them.

I keep the sewing machine set up so I can make easy quick repairs when needed without having to find it and set it up each time I need.

If I am expecting a guest I can unplug and store the sewing machine in a closet for the few days the guests may stay. Easy!

As a lifelong artist, I make and sell my handmade goods so this clutter-free room is making me money.

In addition to my hot shop on the first floor of my home I have an extra room and bath to generate a fair amount of rental income. I can cash in during the summer months because I live in an area that brings in lots of tourists. By keeping these spaces clutter-free I can significantly add to my income.

How to Remove Clutter

Sell Clutter

Instead of renting a storage unit sell all the things you haven’t used in a while. If letting go of stuff is difficult for you, you are not alone, many people are cluttered as a result. You can learn to let go of possessions.

Facebook Marketplace makes selling anything really easy these days. EBay is another good platform to sell your unwanted and unnecessary items.

Donate Stuff

Donating items is a cool thing to do. A lot of folks are hurting financially these days and may only be able to afford second hand things. I love the idea that instead of something sitting in the back of my closet someone may get use out of this!

I’d much rather have someone enjoy and utilize something that is collecting dust and taking up precious space. Freecycle.org is an organization you can easily use to pass on unwanted things. With over 5,000 local town groups across the US and 9 million members discarding things has never been this easy and free!

Many towns have local Facebook groups such as ‘Your Town Yard Sale group’ and ‘Your Town Buy Nothing’ groups. Search for your town’s group on Facebook.

During the pandemic ‘porch pickup’ became very popular. This is an easy safe way to get rid of stuff for Free. It is this easy! We all love free stuff!

Avoid Impulse Buying to Declutter your Finances

According to Statista.com consumers in the United States spent an average of about 150 U.S. dollars on impulse purchases each month in 2023. It would seem that impulsive shopping has declined significantly among U.S. consumers, as this was less than half the average monthly splurging amount seen in 2022.

Browsing Online Stores

If you tend to buy too much why not eliminate the temptation of buying online? It is easy and convenient to scroll online stores and it can be challenging to resist buying. Find something fun to fill that time you spend browsing. You will save a lot of money!

Reduce Living Expenses

Sounds silly to think our heating and electric bills may be affected by having too much clutter. Air needs plenty of room for efficient circulation. If the heating a cooling registers are blocked by clutter you will pay more to heat and cool your home?

The utility companies make enough money, stop giving them more than you have to! This can also be a safety issue. We all have heard about fire and carbon dioxide tragedies that could have been avoided.

Each time my gas heater kicks on so does the electricity needed to fuel it. This also can clutter your home with more dust and air pollutants, especially if you don’t keep up with maintenance and filter replacement.

Declutter your Finances because Clutter Can Be Costly

How much are you spending on subscription services you never use? Clutter! If you haven’t cut the cord yet check out your cable bill. Don’t pay for services you are not using.

Know what foods are in your refrigerators and pantries before you go food shopping or order groceries. In the US we waste tons of food!

Feeding America says In the United States, people waste 80 million tons of food every year, which equals 149 billion meals. We throw away over $444 billion worth of food annually. Shockingly, we are wasting 38% of all the food in America.

Clutter and Money

They may not seem like they’re related, but as someone who’s done a lot of research and is attracted to the minimalist lifestyle, physical and mental clutter go hand in hand, and both can interfere with your finances.

A Distracted Mind Can Also Be Expensive

If your head is distracted it is hard to keep important information on the top of your mind. Here is where being organized plays a big role. It is so easy today to set up spreadsheets and online calendars as reminders.

A friend of mine Lindsay Kelly offers lots of free organization tips and tools. Check out Organize Your Online Biz! Her business organization knowledge has helped me a lot!

Many factors go into determining your credit rating. It is a good idea to check your credit rating every now and then.

Decisions and Procrastination

Paying attention and focusing on important life decisions becomes even more difficult especially when our minds are cluttered. 

You may be shocked to learn how costly procrastination can be. Some folks use shopping to try to fill a void. Buying unnecessary things can be an effective way to build up clutter and also to procrastinate doing the tasks at hand, not to mention expensive.

The Solution to Clutter

Minimalism might sound extreme to you, but trust me, it’s worth considering. Minimalist living is not living in an empty space with only a mattress and tooth brush. On the contrary. Minimalism is about living with intention.

I have a perfectly comfortable home that I love. I prefer seeing space than stuff is why I choose to just buy what I need and not fill up my home with stuff.

Living with Intention To Declutter your Finances

Suddenly you’ll have more space in your mind for important things like financial planning and saving money. Plus, by being more intentional about what you bring into your home and your life, you can avoid impulse spending and save a lot of money in the long run.

When you start getting rid of physical clutter and simplifying your life, you’ll find that your mental state starts to clear up too. The feeling of peaceful freedom is so much more valuable to me than stuff.

Do These Things to Declutter your Finances & Avoid Late Fees

Set up auto-pay if you can afford it, even if you can set auto-pay to a minimum amount this will help.

If you receive your bills electronically pay immediately or set up calendar alerts a couple of days before the due date. Set up your online accounts to send you reminder notices if you need.

If you still receive paper invoices in the mail open immediately and note the due date on your calendar. Also consider going paperless. You will wonder why you resisted this for so long.

Replace the habits that work against you with new helpful habits like the One-Touch Rule. This one little rule will help you control clutter!

If you can’t pay a bill contact the business. Often businesses will work with you.

Emergencies happen and sometimes late payments cannot be avoided. Call the business and ask for fees to be reversed. Because fees are placed on consumer accounts automatically they can often be reversed, especially banks and credit unions.

Gratitude

Loving what you have is the antidote for wanting more stuff! I’ve found that the more I simplify my life, the more I appreciate the things I have.

We grow and change and when this happens our tastes can change. This is why I regularly do a quick look around to see if there are some things that no longer serve me. I love the idea I may be helping someone by passing along my gently used items.

During the day I regularly find it necessary to declutter my mind. I am always amazed that a quick, brisk walk can reset my jumbled head. When time permits walking in nature with my pups brings me a sense of calm, clarity, and peace, making it easier to make good financial decisions.

This is a good time to declutter your home and your mind and see how it can help you save money and feel more in control of your finances. Try it!

One last thing…if all this information makes you feel overwhelmed know that taking baby steps may be the course for you. You did not get cluttered over night and it will take time to get organized. By taking small consistent steps you will see and feel progress being made!

Be good to yourself and acknowledge you are stepping up and making positive changes! Reward yourself, but not by buying more stuff!