Growing up poor, I found solace in my material possessions. Still to this day, I struggle with the pack rat mentality of parting with stuff I own. This is something I have been working on recently.
Over the holidays, I spent some time in SF and NYC, working and couch surfing. When I was in NYC, I worked from friends’ places and from coffee shops. For four weeks, I toted my life around on my back from couch to couch. It may surprise some that I found it to be a rather enjoyable experience.
What I found was that I could be perfectly happy living life out of “one carry-on and one personal item” (a shoulder tote bag for clothes and a laptop bag for gadgets and work stuff). A carry-on bag is enough to fit a week’s worth of clothing, if you’re okay with wearing jeans 2-3 times before washing them. If you can find a place to do laundry every weekend, you’re set.
Why do I need all that stuff at home? It’s nice having a comfortable bed, a computer desk, privacy. It’s comforting to know my mortgage payments are baby steps toward owning my own place outright and having drastically lower living expenses in the future.
But if I got rid of it all, that mortgage payment could go into an interest-earning account and would be quite a sum after 20 years.
If I sold now, I probably wouldn’t walk away with any cash, since I don’t have much equity. On principle, I’m not going to sell my condo to break even or take a loss. For 3 years, I’ve been paying more than I would have if I was renting on the basis that the money isn’t being “thrown away.”
When I was walking the streets of New York City, I was thinking about becoming homeless. Then I realized my situation at home and came to the conclusion that I cannot afford to be homeless.