Friday, December 6, 2013

The Financial Benefits of Taking Care of your Things


Why you Need to Take Care of your Stuff

There’s one thing that becomes very clear as you grow older: You pay for all your stuff. The clothes and shoes you wear, the computer and mobile phone you use, that car you drive—you usually don’t get these for free unless you have very rich and generous parents. You pay to be able to have a roof over your head, the latest appliances, and all other modern-day conveniences. If you make an inventory of all the things you own and list down how much you have actually paid for all of them, you’ll be shocked at how much money you’ve put down for all your material possessions.

Basically, the point that we’re driving here is that you pay for all your stuff. And since you pay good money for them, it is up to you to keep them in the best condition possible. Why would you want to do that? Because doing so saves you thousands of dollars in the long run. If you take care of all your stuff, you don’t have to buy a new one every now and then or pay to have it constantly repaired. And if you don’t have to fork out money for repair or replacement then you can put your dollars to better use. For instance, you can use your cash to augment your savings or add it to your investments.

Taking care of your things enables you to save time as well. If your car breaks down because you forgot to change the oil regularly then you will have to spend valuable time taking it to the repair shop. If you were on your way to work when your engine conked out that would mean a day or half a day of absence and consequently lessened productivity—and getting the ire of your boss. The same time is lost when your computer crashes or if your home needs a major repair. And because time is money, you can’t afford to lose a precious minute.

Let’s get one thing clear: Taking care of things you bought so that they last is not materialism. It’s the exact opposite, in fact. When you keep your stuff in optimum condition, you don’t have to keep on buying new things every time because you have one that works just fine.

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