SPRING CLEANING CAN HELP BRING YOU HEALTH AND WEALTH
IT’S A GOOD SEASON TO DECLUTTER, DE-STRESS YOUR HOME AND LIFE
It’s a chore to be sure. But now is a good time to focus on decluttering. It’s spring after all.
Tidying up not only makes your environment more organized — it can improve mental health and help you make better money decisions, financial experts say.
“Clutter tends to induce stress,” says Sonya Britt, an associate professor of personal financial planning at Kansas State University. “Individuals under stress are less able to make rational long-term decisions.”
Cleaning out those closets, filing cabinets and messy junk drawers could help everyone in the household feel calmer.
“Studies show that families who live in cluttered environments have higher stress levels,” says Mary Gresham, a psychologist with Atlanta Financial Psychology who specializes in both financial and clinical psychology.
There are both practical and psychological reasons to get organized, she says. On a practical side, it makes it easier to find things, gives people more space to live in and allows those once-overstuffed drawers and cabinet doors to close more smoothly. On the emotional side, “less clutter creates a sense of calm,” Gresham says. “Holding onto possessions is more about nostalgia for the past and fear of the future than living in the present.”
Whether people realize it or not, living in a cluttered environment “often makes us feel bad,” she says. “Most people say that they wish they had done this sooner when they have finished the process of clearing out what they no longer need.”
Here’s what you can gain when you stop procrastinating and start purging: A TAX DEDUCTION Donating to charity may help you lower your tax bill. Yet when giving away goods, be mindful of tax laws. Donations must be made to qualified organizations, and to deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A. Get a receipt for your donations as you can claim the fair market value for clothing, shoes, books, household items and furniture, says Derek Lawson, a financial planner at Priority Financial Partners and a financial planning doctoral student at Kansas State University. If you plan to take the standard deduction “that doesn’t mean you can’t, or shouldn’t, donate,” Lawson says. “As that in and of itself helps provide a sense of gratitude.” MORE CASH In some cases, you’ll be able to sell goods at a yard sale, in a consignment store, on eBay or Craigslist or via another means. It’s not a get-rich quick scheme, unless you own collectibles. But it could put some cash in your bank account. Do note, however, that income earned from auctions and consignment sales may be tax- able. Also, more possessions often mean bigger bills, both in terms of renting storage and in paying for repairs, Gresham says. “We live in a society that highly prizes material possessions, but material possessions also require repair and upkeep,” she says. For those who don’t have the room to store belongings at home, “it is costly to have to rent a storage space.” MORE SPACE AND GREATER EFFICIENCY Getting rid of what you don’t need — and organizing what remains — can help you to keep better track of financial records, Lawson says. “Paper documents can be scanned and then shredded,” he says. Those getting their paperwork in order can also look into digital services such as Dropbox and Google Drive to store their files. A SMOOTHER LIFE TRANSITION Getting organized is especially relevant for those who are about to embark on a life transitions, such as retirement or downsizing for another reason. “Many people
come to feel burdened by possessions and living spaces that do not fit their new stage of life,” Gresham says. Parents holding onto stuff because they think their kids will eventually take it may be in for a surprise, as adult children may not want those belongings, Britt says.
Decluttering can be an overwhelming task, so it’s easy to put it off. Yet Gresham’s advice is to do it now, before an emergency strikes and the cleaning up has to be done under pressure.
“People can be hard pressed to find time and energy to do this when there is an unexpected need to move,” she says, noting that crisis moves can be prompted by events such as illness, disability, death, a sudden job change or living space damage. “Letting go of possessions in a thoughtful prepared manner allows us to maximize the return. When possessions have to be dealt with via crisis and emergency means — which will happen if we don’t address this — they may be discarded because whoever is dealing with our things is likely overwhelmed.”
Most people say that they wish they had done this sooner when they have finished the process.” Mary Gresham, a psychologist