Get Rid Of Your Storage Unit
If you are someone who is living on a low wage or even someone in the middle class it really doesn’t pay to have a storage unit. It is the equivalent to paying interest on a credit card for stuff you really don’t need. While there might be some rare instances where they make sense for a short period of time, most people I know that get storage rental units end up paying for the for years and years. For a 5X10 unit you will probably pay somewhere between $50 and $100 per month depending on where you live. For a unit with over 100 square feet you will probably pay between $80 and $150 per month. This is a great way to burn money you probably don’t have. So, what should you do? We will explore some options that will make economic sense no matter what your earning level is.
If you own a house or rent a house and have space in your backyard, you may want to check and see if a storage shed might be a better alternative for you. Why pay $600 to $1800 per year to store your crap? While many sheds are expensive, there are some cheaper ways to go. The best and cheapest way I know of is to build your own storage shed. You can buy some good storage shed plans for less than $20. Depending on the size of the storage shed you are building, your supplies will cost you a couple of hundred to several hundred dollars. Sheds are pretty basic structures that just about anybody can do if they have some woodworking experience. Instead of going to the gym, get your workout at home for a week or two in your spare time and build a storage shed that will be just right for you.
If you are not good at woodworking, you might want to buy a used storage shed. You can probably find a good used shed in your area for less than you would spend in a year renting a storage unit. Best of all, it will be your own storage unit that you will no longer have to pay for. There are all kinds of used sheds to consider. With the Internet, it is easy to read reviews online to make sure you aren’t buying junk. Then you can look on Craigslist and make some calls. You should be able to find a 50-100 square foot shed for somewhere between $500 and $1000.
While getting your own storage shed is a better option than renting a storage unit for years and years, it is not the best solution. The best thing to do would be to sell all of the stuff in your storage rental right now. Who knows how much money you might make by selling stuff you currently don’t use. You might be able to make $500 to $5000 depending on how much stuff and the quality of stuff you have. You can then take that money and put it in a rainy day fund for yourself or get rid of some credit card debt. This one decision could be worth tens of thousands of dollars to you over the course of several years. If you rent a storage unit for ten years, that could cost you as much as $18000 over that time. In addition, that money could compound in a number of ways. If you are saving money on interest from your credit card that could be as much as 25% per year. Once you go through this exercise of reducing your things, make a regular habit of it. You will live in a happier, healthier space that will seem to have more room in it. Plus, you can save thousands of dollars at the same time. Good luck in getting rid of your storage rental unit.