Cost of Ownership

September brings colder nights, and soon we’ll be turning on the heat.  We received the depressing news from our plumber that our furnace should be replaced this year or next.  Oh, the joys of home ownership.  What about the joys and cost of owning any item?

Costs of Ownership

Do you agree that it’s easy to accumulate belongings, especially if you have children?  Things, stuff, and junk seem to multiply at a very rapid rate.  Have you ever asked yourself what is the cost of owning all these things, all this stuff, all the junk?  Just like home ownership, I bet it’s not always pleasant to own things.  In fact, just like home ownership, it can be costly.
What is the cost of ownership?  To figure out the cost of ownership of an item consider these 5 factors:
1.  Purchasing it
     A.  Time – going to store or ordering
     B.  Effort  – researching and comparing products
     C.  Money – cost of item and cost of gas or shipping
2.  Time and effort exchanging it if it’s not the right item
3.  Real estate required to store it
4.  Effort to organize, clean, repair, and update it
5.  Stress of loosing or ruining it

Are the things, stuff and junk you have in your space worth the cost of ownership?  Answering this question can help you determine what is worth keeping and what isn’t.

Try it and share with me what you discovered.  If you’d like assistance with the process, I’m at your disposal.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *