A few weeks ago, Eric was talking with an extended family member who has had some items sitting in a storage unit for more than 10 years. The hope was to eventually use the items or rent them out to people who could use them, but in the meantime, the storage bill has continued month after month.
As Eric drove home from working with this person and trying to find a solution, he started thinking about the financial side of the situation. The storage unit was costing around $170–$190 each month. Over 10 years, that adds up to roughly $21,000.
If the storage unit was emptied and the money was invested instead, it would have grown to $44,000 in 10 years, and to $155,000 in 20 years! Even with small things and amounts, the power of compounding is incredibly powerful!
Eric and I started talking about how impactful that example is because it isn’t really about a storage unit. It’s about all the little places where money is leaving our accounts without us stopping to ask whether it could be put to better use.
We talked about recurring subscriptions, memberships, storage costs, and other expenses that can quietly add up. When we find ways to eliminate some of those expenses, we can redirect that money toward paying down debt, building savings, or investing for the future.
I also love the connection between getting organized and getting our finances in order. Sometimes the physical clutter around us represents money that is tied up, being spent, or simply not being used as intentionally as it could be. Taking the time to process those things can create more space in our homes, more peace of mind, and potentially more room in our finances.
We don’t have to make huge changes all at once. Sometimes it’s simply about noticing one recurring expense, making one decision, and then letting those small changes compound over time.
There is power in those small financial decisions and how we can start looking for opportunities to put more of our money to work for us. We’d love to hear your thoughts/ideas in the comments!
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Our STEP Coaching membership is available to everyone at LearnDoBecome! With our STEP Coaching resources,
- You have a real human, virtually by your side, who once walked in your shoes and knows how to help you move forward with steady, warm accountability.
- You can easily get your questions answered with private chat options, text support, and personalized emails. You’ll build confidence as you engage with the other STEP Coaching members, and you’ll see that every question actually has a solution.
- Because the coaches will be “teaching you to fish” rather than GIVING you fish, you’ll develop the skills to be your own professional organizer. THAT is sustainable—even when life is moving fast!
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