How much time do you spend looking for your keys? Or your bag? Or missing bills? A cluttered home can cause frustration and stress and make it difficult to get things done. A good spring cleaning can be good for your health, and there are four reasons we believe it also may be good for your wealth.
Reason #1: You’ll feel less stressed
There is a link between clutter and high cortisol levels (the stress hormone) in female home owners, according to a study conducted by UCLA’s Center on Everyday Lives of Families (CELF). This can cause chronic fatigue, decreased productivity and depression (and even overeating). You are not at your best when your home is cluttered, and it’s hard to focus or think about what’s important or make good money decisions.
Reason #2: It’s an opportunity to get organized
Decluttering presents an opportunity to reorganize, including your financial paperwork. Make sure bills are kept securely in one place (ideally online when possible) so they are paid on time and you don’t incur unnecessary late fees. And make wealth planning easier by scanning important papers you need to keep, such as your last 3 years of tax returns, capital gains tax reports and 1099 forms.
Reason #3: You’ll gain time to be productive
According to a Princeton University study, clutter competes with our brain’s ability to pay attention.* A cluttered home is distracting and delays decision-making. With a clean and tidy home, you can spend more time focused on wealth building activities, such as career development or achieving your wealth goals.
Reason #4: You can make money
After a good spring cleaning you’ll find yourself with many items you simply do not need, which you can sell or donate to charity for a tax deduction. Then the next time you consider making an unnecessary purchase, you may think twice. And spending less will increase your wealth because “a penny saved is a penny earned.”