Managing debt and stress post-pandemic: Downsizing to get through times
Downsizing means that you go for smaller, more affordable lifestyle choices. Your monthly expenses will reduce, allowing you to free up some cash to pay off debt. It offers you an opportunity to actually enjoy life without worrying about your future financial security. In fact, downsizing your life could be the best decision you ever make.
Financial freedom: By downsizing material things like your home, car, or garden, you can significantly reduce expenses, which will increase your cash flow. Think about how much space you really need, what car you can live with in comfort, and how much time and money you could save with a smaller garden, or none at all.
Mental well-being: Downsizing brings less stress. With less material things cluttering every part of your life, you will sleep better, have a clear mind, manage your time better, and enjoy the mental health that comes from less bills to pay.
Time saving: Without a pool that needs cleaning or a massive garden that needs weeding or a huge house to clean, you will find that you have a lot more breathing space for just kicking back over weekends. And you might even find that you have the capacity to clean or garden for yourself, rather than having to outsource and pay for having someone else do these chores.
Expanded opportunities: There’s a reason young couples prefer a convenient ‘lock up and go’ environment. It gives them freedom of movement and therefore a hassle-free reason to travel more. After all, life should be about quality, rather than the quantity of material possessions that you accumulate.