Downsizing - When and How

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M One of your biggest budget items is housing. 30--40 percent is a chunk.  My generation wanted bigger.  I regret that we moved toward the McMansion era.  Not a good example.   That did not work well for everyone.  2008 and 2009 brought foreclosures and under water mortgages, financial and family stress. 

V Is it time for you to downsize? Run the numbers. Just because you can afford to own something, doesn’t mean you should. What about the time and mental energy you spend managing that item? Cleaning, upkeep, taxes.  Is your space used?  Seasons change.  Children become adults.

M Downsizing isn’t easy.  But remember, Proverbs says better simple than more with strife.  Thats wisdom.