How to Downsize Quickly
If you have lost your job, or had your hours cut, missed out on getting work or find yourself suddenly unable to work: here is one way to build a new lifestyle. You can downsize.
Some people talk about their work as a major part of their life. They introduce themselves as defined by their job, "Hi I'm Jo", the conversation starts, then, "What do you do?" Our work consumes most of our day-time thoughts (and sometimes nightmares).
To have a high paid job may mean you have "golden handcuffs". People living with Golden handcuffs are trapped in high mortgage and financial obligations. Your whole life can be regulated by how much you earn: your work can determine where you live, how you dress, what you eat, who you see each day, what you use to get around (car, bicycle, whether you have time to exercise, where and how you exercise, and whether you get time with family and friends. Yet some of the richest people in the world manage to have only the same consumption as the average person.
We have two choices when we are faced with a major pay cut, we can go into debt further and hope that all will come good. (This is what many people are doing. It is a form of gambling and can risk your mental and physical health, which further restricts you ability to seek and find employment) OR we can downsize.
How You Can Downsize:
- If you have a car, get rid of it. If the family has more than one car, get rid of all of them but 1. Either sell it or lend it someone else. By removing the car you automatically stop buying petrol and parking fees and start investing in public transport. This means investing in everyone's future.
- Look for cheaper housing. If you are no longer working consider moving to a small country town that is connected by public transport. Many country towns are in desperate need of work-age residents and will welcome you. Some people work all their lives to be able to move out of the city, now could be your opportunity. OR take on boaders, even if these are students, it will make life more interesting and you can stay where you are.
- Start cooking more. Share meals with friends instead of meeting them at resturants. When you cook from basics you will have many of these basic items left over to make another meal. Don't waste money on pre-made or expensive additives but search for fresh local produce. It is harder to use the leftovers, they cost a lot more and they are often less nutritrious. The risk for people on low-incomes is malnutrition. More often this is the result of poor food choices not a lack of food.
- Support live local entertainment ideas in your neighbourhood. Start a book-club, a small singing group, a drumming group (you can make your own drums).
- Sell items you haven't used for years. Be careful not to sell items that could be used to earn money.
- Produce more at home and trade. Get out your hobbies and do them, make items that you can trade and put up a sign out the front to sell these items. You might be good at fixing bikes or machines, sewing, growing plants, cooking items for sale. Most residential areas allow you to sell to the public once in a while (like once a month) if it is called a 'garage sale'. Otherwise, services can be advertised year round: these include home-cleaning, painting, pet grooming and walking, tutoring kids, cooking, baby sitting, massage, organising and promoting, sports coaching etc.
- Grow food, it is very easy to grow tomatoes (simply save the seed from those you buy to eat). Start composting and don't throw away so much food.
- Restrict hot water heating hours. eg. move to off peak or If you have solar power hot water with a booster, turn the booster off.
- Cut heating bills by using less rooms and putting up dividers (large heavy curtains can be made with blankets or secondhand curtains) in open spaces. Make sure you have all drafts and windows sealed and covered. Have local parties outside with a fire in a drum (unless you are in the inner city and living with fire bans)
- Do without things such as expensive clothes, (If you have peer pressure, do you really need those peers?) haircuts, facials, gadgets, and have the occassional treat.Eg. If you walk to town, you can buy something small but special that would have cost the amount of the petrol for the car. You do not have to buy any of these items: pesticides, cosmetics, detergents and chemicals. Most people can live happily without most of the non-food products in the supermarket aisles.
- Look at all the bills and see what you can get out of, can you downsize the phones plans, the electricity and water use, the car lease-plan, the entertainment costs, the wine consumption? If you are stuck on a contract, cut phones at earliest opportunity to the minimum rate and avoid using them except for emergencies. List each committment and prioritise them. If you think you might decide later that you really can't live without something, just make it hard to access. One girl keeps her credit card in sealed inside a block of ice the freezer so it takes ages to defrost and plenty of time to reconsider.
- Reduce your interest costs by cutting sources of lending and rolling debts into one committment.
- If you have to buy something, can you get it second hand? Check out the local charity stores and online trading. If you have to buy new, make sure it has a good warranty and service. Choose local manufacturers to help keep jobs local.
- Join LETs or freecycle.
- Give more. The more we all give, the more costs will stay low and the more we will value each other. Some people have their houses full of items so it would be physically difficult to downsize. What is the true cost of keeping these items? Most western homes have kilos of excess cosmetics and cleaning agents. Offer these to close family members and friends. You can make it fun by doing a trading day where you bring unused items in bags to a meeting and trade.
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