2740: Own Less; Travel More by Lauren Keys of Trip Of A Lifestyle on Minimalism & Financial Independence

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[00:00:57] This is Optimal Finance Daily, episode 2740.

[00:01:00] Own less, travel more.

[00:01:02] By Lauren Keys of tripofalifestyle.com.

[00:01:06] And I'm your host and personal finance enthusiast, Diana Merriam.

[00:01:10] This is the show where I narrate posts from thought leaders

[00:01:13] in personal finance every single day of the year

[00:01:16] in 10 minutes or less.

[00:01:18] So let's get right into today's post

[00:01:20] and continue optimizing your life.

[00:01:22] Own less, travel more.

[00:01:28] Travel more by Lauren Keys of tripofalifestyle.com.

[00:01:33] We're in the process of moving back into our home

[00:01:36] after a long time on the road,

[00:01:38] and it's proving to be one of our most tedious moves ever.

[00:01:42] All of our stuff was stored in our friend's loft,

[00:01:45] which shielded us from the financial costs of storage.

[00:01:48] Thanks, John and Bonnie.

[00:01:50] But as a result, we didn't really engage

[00:01:52] in our normal moving ritual of obsessively getting rid of.

[00:01:56] We embrace minimalism in Hawaii, so moving was easy.

[00:02:00] In the past, by selling, donating,

[00:02:02] or just tossing out the items

[00:02:04] we don't absolutely have to take with us,

[00:02:06] we've ended up with about half of the amount of stuff to move.

[00:02:10] This time, however, the process wasn't so streamlined.

[00:02:14] It actually felt like a big ordeal.

[00:02:17] And for a fleeting moment,

[00:02:18] I had the immobilizing and scary thought

[00:02:22] that I never want to do this again.

[00:02:23] I envisioned a curmungent old future version of myself

[00:02:27] saying, bah, moving is too much trouble.

[00:02:30] I'll just stay where I am forever.

[00:02:33] And that was the wake-up call I needed.

[00:02:36] How did it come to this?

[00:02:39] All right, so I'm probably being a bit dramatic

[00:02:42] about our move back into a 1,280 square foot condo.

[00:02:47] It could have been a lot worse,

[00:02:49] but I still wanted to stop and think

[00:02:51] about why this move felt so much different

[00:02:54] than those before it.

[00:02:55] Our first four years living together,

[00:02:57] Steven and I were always very happy

[00:02:59] in a one-bedroom place.

[00:03:01] With just the two of us,

[00:03:02] it was always more than enough space.

[00:03:05] And furnishing all of our one-bedroom apartments

[00:03:07] was a lot cheaper

[00:03:09] than furnishing our three-bedroom condo.

[00:03:11] But when we decided to make the leap

[00:03:13] from renting to buying,

[00:03:15] we were convinced of the need for more.

[00:03:18] Real estate agents tell you

[00:03:20] Real estate agents tell you

[00:03:21] that more rooms will automatically make your place

[00:03:24] more attractive to future buyers.

[00:03:26] Your family all tell you

[00:03:28] that they need a guest room to visit.

[00:03:30] You might even convince yourself

[00:03:32] of a need for an office or a man cave or a she shed.

[00:03:36] But the opportunity cost

[00:03:38] of dumping more cash into a bigger place,

[00:03:40] plus the direct costs of heating

[00:03:43] and cooling that extra space,

[00:03:45] cleaning and maintenance,

[00:03:46] and the extra property taxes really add up.

[00:03:50] It's all a bunch of BS.

[00:03:52] Listen, we fell for it too.

[00:03:54] We didn't go crazy and buy a mansion.

[00:03:57] Our place still only had a five-digit price tag.

[00:04:00] We were nudged into upgrading

[00:04:02] to a three-bedroom place

[00:04:04] at the suggestion of everyone else.

[00:04:07] And you know what?

[00:04:08] One of our extra rooms sat empty for so long

[00:04:11] that we decided to rent it out to friends

[00:04:13] while living there ourselves.

[00:04:15] Twice!

[00:04:16] If you've already bought a place

[00:04:17] that you're finding to be a little bit bigger than you need,

[00:04:20] consider putting an extra room to work for you

[00:04:23] rather than just filling it up with more stuff.

[00:04:26] What else can you do?

[00:04:28] Avoid what I call leveling up your possessions.

[00:04:31] Here's what I mean.

[00:04:32] We typically get our furniture

[00:04:34] like kitchen tables and chairs,

[00:04:36] couches, desks, coffee tables

[00:04:38] from cheaper retailers like Ikea,

[00:04:40] used furniture stores or clearance centers.

[00:04:42] And we found that we can actually recoup

[00:04:45] the full cost of these items

[00:04:47] through platforms like Craigslist

[00:04:48] and Facebook Marketplace pretty consistently

[00:04:51] when it's time to go somewhere new.

[00:04:53] We can essentially start over every time we move

[00:04:56] without incurring hefty moving costs

[00:04:58] or the tax of renting a storage unit.

[00:05:01] It's also kind of fun to have a clean slate when you move.

[00:05:04] And even though we don't have the fanciest furniture,

[00:05:07] there is value for us in knowing

[00:05:08] that almost everything in our house is brand new.

[00:05:12] Now you might object,

[00:05:13] Ikea furniture sucks.

[00:05:15] I'd much rather spend a little more

[00:05:16] and get sturdy stuff that'll last forever.

[00:05:19] But there are hidden costs to that.

[00:05:22] Let's consider a beautiful solid oak bookcase

[00:05:25] you fell in love with at a showroom.

[00:05:28] It's expensive and heavy,

[00:05:29] but good furniture often is.

[00:05:32] It's an investment that will last a lifetime.

[00:05:35] The problem?

[00:05:36] Now, every time you think about moving,

[00:05:38] you'll worry about carrying the weight of the bookcase

[00:05:41] into a moving truck.

[00:05:42] The size of the truck needed to fit the bookcase securely

[00:05:46] and the damage it might incur in transit.

[00:05:48] Not to mention having to pack up

[00:05:50] everything the bookcase displayed,

[00:05:52] books, records, photos, candles, and a few succulents.

[00:05:56] The result?

[00:05:57] You feel like you can't just pack up

[00:05:59] and go whenever you want.

[00:06:01] You're in love with that bookcase

[00:06:02] and everything on its shelves.

[00:06:04] I'm not saying to give up the things you love,

[00:06:07] but I do wanna challenge you

[00:06:08] to give your home a good Marie Kondo-ing

[00:06:11] and ask yourself not only whether your possessions spark joy,

[00:06:14] but also whether they're worth

[00:06:16] what you might be giving up to own them.

[00:06:19] Reducing clutter increases freedom.

[00:06:22] Remember the frightening thought

[00:06:24] about the old lady version of myself

[00:06:26] who never moves again?

[00:06:28] The reason it's so important to not feel that way

[00:06:31] is because when the cost,

[00:06:32] mental, physical, and financial of moving is minimized,

[00:06:36] the freedom to move is maximized.

[00:06:40] But what's so great about moving anyway?

[00:06:42] Is it so wrong to stay in one place?

[00:06:44] There's nothing bad about settling down where you want to.

[00:06:47] Not everybody wants to pack up

[00:06:49] and move to Hawaii for six months.

[00:06:51] It's more about having the opportunity and freedom

[00:06:54] to move when the desire or need arises.

[00:06:57] Feeling free to pick up and move as necessary

[00:07:00] can help improve your financial position in life too.

[00:07:03] When a job offer comes your way for more money,

[00:07:06] a better title,

[00:07:07] or to do something you truly love,

[00:07:09] you should feel free to take it seriously,

[00:07:11] even if it means moving.

[00:07:13] Locking yourself into one location

[00:07:15] seriously reduces the options available to you.

[00:07:18] Even just moving closer to work

[00:07:20] to save money on transportation

[00:07:22] or moving to a lower cost of living area

[00:07:24] can be a huge win for your finances.

[00:07:27] This type of freedom has been crucial for us.

[00:07:30] We've had amazing travel experiences

[00:07:32] and improved our financial position

[00:07:34] exactly because we've been willing to move.

[00:07:37] Next time you're cleaning a spare room

[00:07:39] that's used sparingly

[00:07:40] or considering staying in one place forever,

[00:07:43] consider what you have to gain from letting go.

[00:07:50] You just listened to the post titled

[00:07:52] Own Less, Travel More

[00:07:54] by Lauren Keys of www.tripplethelifestyle.com

[00:07:57] and I'll be right back with my commentary.

[00:08:01] This post reminded me

[00:08:02] of not only the practical benefits

[00:08:04] of not being weighed down with material possessions,

[00:08:07] but the psychological benefits as well.

[00:08:09] There was actually a period a couple of years ago

[00:08:12] where a lot of break-ins

[00:08:14] were happening in my neighborhood.

[00:08:16] It ended up being a couple teenagers

[00:08:17] breaking into homes

[00:08:18] and mainly stealing electronics,

[00:08:20] but my neighbors were understandably on edge.

[00:08:24] I remember looking around my house and thinking,

[00:08:26] what could anyone steal that would really rattle me?

[00:08:30] I don't own any expensive electronics or jewelry.

[00:08:33] I always have my phone on me

[00:08:35] and many times my laptop as well.

[00:08:37] What are they going to take?

[00:08:39] My toaster?

[00:08:40] In a more literal sense,

[00:08:41] I felt the weight of my stuff

[00:08:43] when walking the Camino a few years ago,

[00:08:45] which is a 500 mile trek across Spain.

[00:08:48] For two months,

[00:08:49] I carried everything I needed on my back

[00:08:52] in a 40 liter pack.

[00:08:53] When I was preparing for that trip,

[00:08:55] I spent many hours

[00:08:57] deliberating which things were 100% necessary

[00:09:00] as I was trying to keep the overall weight

[00:09:02] I was carrying as low as possible.

[00:09:05] I read a ton about what other people brought

[00:09:08] and even had close to 20 people

[00:09:10] review my packing list

[00:09:12] to make sure I didn't forget anything.

[00:09:14] But then a funny thing happened along the way.

[00:09:16] I ended up writing new lists

[00:09:18] of what I realized I didn't need

[00:09:20] and what I wished I would have brought.

[00:09:22] This taught me a couple of things.

[00:09:25] First, what I actually need is highly personal,

[00:09:28] so I should take advice from others

[00:09:30] with a grain of salt.

[00:09:32] And secondly,

[00:09:33] even when I don't have something I need,

[00:09:35] I'm resourceful enough to figure it out

[00:09:37] so I don't need to be so anxious about it.

[00:09:40] There was this thermal shirt

[00:09:41] that I accidentally left behind somewhere,

[00:09:43] but I managed just fine without it.

[00:09:45] There was also this blow-up pillow

[00:09:47] that got ruined in the wash,

[00:09:48] but I didn't end up missing it.

[00:09:50] It just goes to show

[00:09:51] that humans are pretty adaptable.

[00:09:53] And when you're not so mentally attached to your stuff,

[00:09:57] you're more free to enjoy the journey ahead of you.

[00:10:00] And that should do it for today.

[00:10:02] Have a happy rest of your day

[00:10:03] and I'll see you on the Tuesday show tomorrow

[00:10:06] where optimal life awaits.