The Donation Deadlift (Finance Game #2)

August 5, 2008 – 6:00 am

Admit it. You have a lot of crap, um, I mean “good stuff”, you never use. I live in a neighborhood where at least half of the homeowners can’t fit even one car into their two car garage because it’s packed with stuff. My next door neighbor is a good example. His garage is full of old mattresses, furniture, and probably unused lawn equipment (he hires his lawn care out now). And he’s got an old stereo sitting out near his trash can that’s been there for two months. I’m sure it works great now that he’s thrown it out and after it’s rained half a dozen times. He can, however, fit his Harley in his 2-car garage. Barely.

If you have stuff you don’t use, get rid of it. Donate it and take the tax write-off for goodness sake. If this were truly an Olympic sport my wife would be a three time gold medalist (she used to be a professional organizer). :-) She goes through her clothes and the rest of our stuff about four times a year and seems to donate a few boxes of stuff each time. I’m assuming this is going to slow down at some point, because we definately haven’t been buying as much as she has been donating.

Here’s a trick that might help you part with your “good stuff”: put the things you haven’t used in a year in an unmarked box. Make a list of the items in the box and put it away in a filing folder for tax purposes. You’re most likely going to be donating these items. Now put the box away on a shelf somewhere, and put the date three months from now on the box. In three months when the date on the box is in the past, if you haven’t needed anything in the box donate the box without opening it up. You’d be surprised how many things you think you need but never, ever use.

Image Credit: Usodesita

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  1. One Response to “The Donation Deadlift (Finance Game #2)”

  2. Very good advice on doing something good with stuff that you do not use while getting a tax writeoff and increasing your net worth.

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    By no imagedoubleourmoney (Who am I?) on Aug 5, 2008

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