Imagine this scenario: You’ve got some empty space in your living room, and it’s been bugging you for a while. You decide to buy a new closet to fill it up—nothing too fancy, maybe something on sale for €50. Seems like a great deal, right? But let’s take a closer look and break down the true cost of owning this item.
The initial cost of the closet is €50, but that’s just the beginning.
1. Space Costs
Let’s talk about the cost of your space. If you live in an average home in America, let’s say your mortgage or rent costs around €1,500 per month. Your home might be around 1,500 square feet (or 140 m²), so each square foot costs you roughly €1 per month.
If this new closet takes up 10 square feet, that means you’re now dedicating €10 per month just to store it. Over a year, that’s €120 for the space alone.
2. Time Costs
There’s also the time it takes to maintain it. You’ll need to dust it, clean it, and maybe even rearrange things around it. Even if it’s just 10 minutes a week, over a year, that adds up to 8 hours of cleaning and maintenance. Could you spend that time doing something more valuable, like working on a personal project or enjoying a hobby?
3. Mental Clutter
Every new item in your home adds to your mental load. It occupies space not only physically but also in your mind. You might start to worry about organizing it, or worse—filling it up with more stuff. And let’s face it, how often do we buy something and then feel the need to buy additional things to complement it? (New decor for the closet, extra items to store inside, etc.)
4. Additional Purchases
Buying one item can often lead to more purchases. In the case of your new closet, you might decide it needs:
- A set of decorative baskets to go inside (€20)
- A matching lamp to make the space look cozier (€30)
- Maybe some framed photos to hang above it (€25)
Before you know it, that €50 closet has led to €125 more in spending!
5. Resale Value
Now, let’s think about the resale value. How often do we buy cheap items that don’t hold value? In a few years, when you decide to upgrade or move, you might try to sell it. However, it’s unlikely you’ll get much back for it, especially if it’s a budget item. In fact, it might end up costing you time and effort to get rid of it.
The Total Cost
Let’s add up the costs:
- €50 for the closet
- €120 for space (annually)
- €125 in extra purchases
- 8 hours of maintenance and cleaning (your time is priceless, but let’s not forget the value here)
That €50 deal? It’s now worth well over €295, not including your time and mental energy.
Is it Worth It?
When you look at the true cost of owning something, it’s clear that what seems like a good deal might not be so in the long run. Minimalism teaches us that filling space doesn’t always add value to our lives. Sometimes, leaving space open is a more freeing, cost-effective choice.
Before you buy something to “fill” space, ask yourself:
- Do I truly need this?
- Will it add value to my life, or just take up space?
- What’s the true cost over time?
Instead of rushing to fill empty space, consider embracing minimalism. You’ll save money, free up time, and reduce the mental clutter in your life.
Live more with less! Keep that space empty…
FAQ
The true cost of owning something includes not only the initial purchase price but also the space it occupies, the time spent maintaining it, the mental clutter it adds, and any additional purchases that come with it. Over time, these hidden costs can add up, making a seemingly inexpensive item far more costly than it first appears.
Minimalism encourages you to focus on what truly adds value to your life, helping you avoid unnecessary purchases. By keeping your space less cluttered, you free up both physical space and mental energy. This can lead to a simpler, more intentional life where you spend less money, have more time, and experience less stress.
Before buying something to fill empty space, ask yourself if you truly need it and whether it will add value to your life. Instead of filling space for the sake of it, consider whether keeping the space open would be a better, more cost-effective option.