
Stuff Costs More Than You Think - thecombjelly
http://thintz.com/essays/less-stuff
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andre3k1
The author is attempting to find the opportunity costs of his purchases
retroactively. It's very important to weight the opportunity cost of something
_before_ making the purchase.

The method that he uses to elicit the values is extremely interesting. He
locks the items in storage to realize their true value to him.

In the process he discovers a major economic principle. I can't remember that
exact term used to describe the situation, but I think it deals with
Willingness To Accept (<http://en.wikipedia.org/wiki/Willingness_to_accept>).
In summary, the principle states that one tends to increase the value placed
on a good if he owns it. For example, you bargain with a salesman for a hat.
He brings the price down to $10. A well-dressed man sees you walking out of
the store with your newly purchased hat. He likes it, so he makes you an offer
for $10. You will likely not accept because the hat is now worth more to you
than just $10.

Overall, the article itself is presented in a motivating fashion shedding some
light on these economic issues.

~~~
aston
You were looking for the Endowment Effect
(<http://en.wikipedia.org/wiki/Endowment_effect>).

~~~
andre3k1
Yeap, that's it! Thanks bud.

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MrFoof
There's an old William Morris quote that I tend to live by: _Have nothing in
your homes that you do not know to be useful and believe to be beautiful._

In the past 2 1/2 years or so I have been slowly paring down my possessions.
As a result my living space has decreased from 960 ft2 to 720 ft2, and now to
670 ft2. In 4 months, I could consider downsizing again, probably to 550 ft2
or so. Less space means I can get a nicer space for the same money (though
usually less), in a better location. Maybe I'd consider staying put if I had a
live-in girlfriend, as there's plenty of closet space for someone else's
things.

It's amazing the amount of stuff you tend to haul around with you. What do I
miss that I've gotten rid of? Not a thing. I now know where everything is.
It's getting increasingly easier to get at everything Cleaning is simple. A
smaller space means lower utility bills (i.e. electric going from $80/mo to
$35/mo). Fewer clothes (that I never wear) means less laundry to do. I still
have some useless things that have sentimental value, and it'll probably take
considerably more time before I consider passing those along.

Though most importantly, it leaves more money available for the things you
really care about. Money is ultimately a tool, and I'd rather have it
available for more worthwhile things.

~~~
sasmith
How does fewer clothes that you don't wear mean less laundry?

~~~
MrFoof
Less closet space being wasted. It's nearly 2AM, so I'm not as coherent as I'd
normally be. Though if you have an overly packed closet, it could result in
some garments needing to be ironed more from being crammed together all the
time.

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sliverstorm
There are three kinds of things that go in the basement, but only 1.5 of them
need throwing away.

\- The Junk. Stuff you have but can't bear to throw away; after leaving it in
storage for a few years you are willing to part with it.

\- The Memorabilia. Stuff that has memories attached to it- for example, a
stuffed animal. Some of this stuff could be thrown away, some is not worth
chucking.

\- The Winter Clothing. Stuff you only need occasionally, but cannot do
without. I think a lot of people discount or forget about this category when
they talk about how little stuff you should have in your life. My mechanic's
tools, rain gear and winter clothes are not being used more often than not,
but when I have to have them I have to have them.

------
maguay
One thing about it: you wouldn't be able to downscale nearly as much without a
laptop/tablet/iPad and a smartphone. Those two items, which of course are
still stuff, can take over what a dozen different things used to be used for.
That's maybe one of the most significant changes of our decade.

------
RK
For those who haven't read pg's realated essay:

<http://www.paulgraham.com/stuff.html>

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krmmalik
I moved to a new flat recently, and had an intermediary stay at my parents
before that.

I, intentionally didnt take my desktop PC, my xbox or TV with me.

I also didnt take any of my suits, smart shoes and a whole host of books.

For the first few months, i didnt miss any of them, but i am starting to miss
my TV, xbox and Desktop PC now.

Not particularly missing anything else, but then again, i didnt have that many
things to start with.

~~~
toolate
I spent a year and a half living and working overseas. I went from an
apartment full of furniture to a single room in a share house. All I owned
were the clothes in my cupboard and a laptop. I honestly didn't miss any of my
possessions.

In many ways I had less than when I was a starving student, but it felt much
different because what I did have was the money to buy things _if_ I needed
them. Having the ability to buy things I might need or want was more important
to me than actually owning them.

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varjag
His notebook has massive cost per his definition: massive time-sink. How about
ditching it?

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Qz
Similar to a person maxim I've come upon recently: Everything is always more
expensive than you think it is. Yes, even more expensive than that.

------
goodside
For a website that's espousing the virtues of minimalism, those sure are some
tacky mouseover effects in the header.

