Here’s a crazy idea…
Inventory ALL Your Stuff. Literally. Get paper and pen. Go through every room, every nook and cranny, and write it ALL down.
If this idea scares you a little bit, you probably have too much stuff. If this idea REALLY scares you ALOT, then I guarantee you have too much stuff.
Here is an even scarier step… After you inventory everything, write down the estimated original price you paid for it, and add them all up.
This is simply an exercise to help open your eyes to how much stuff you actually have. How much wealth you actually possess. And if you take the next step, whether all these purchases were worth it or not.
When people say they don’t have money they usually mean to say that all their money is tied up in stuff.
If I just look around the room I am in right now, not counting permanent fixtures of the room or the house itself, I see thousands of dollars worth of easily movable things surrounding me.
Do this right now if you can. If not, carve out an hour or two this weekend, or possibly more if you have more stuff, and do this challenge.
You get 100 points for completing the challenge, 1,000 points for estimating the original price of the item, 10,000 points for putting it all in Excel spreadsheet, and 1,000,000 points for maintaining the Excel spreadsheet as you continue to add and subtract things from your inventory in the future. 😉
This is our 11th challenge in The Personal Finance Challenge Series…