The KonMari method: make money by decluttering

With the KonMari craze sweeping the nation we take a look at how decluttering can boost your finances.

Japanese tidying guru Marie Kondo has sparked a decluttering craze across the world with her bestselling book The Life-Changing Magic of Tidying.

The self-help manual  has now sold more than two million copies worldwide.

Kondo takes readers on a journey through what she's dubbed the ‘KonMari method’ for simplifying belongings through systematic decluttering. The process includes improved ways of organising and storing your items, which it claims is helping people lead happier lives.

I can certainly attest to the way a good clear-out can make you feel more zen, but the impact doesn’t have to stop there. Here are six ways decluttering can also improve your finances.

Make cash from clutter

The KonMari method calls for a 'systematic decluttering' of everything you own by asking of each item: "Does this spark joy?" But it's also a good idea to consider how often the item gets used and whether you really need it. If the answer is no, it’s got to go.

Unwanted gifts, clothes that don’t fit, multiples of the same thing and broken electrical goods, as well as books, DVDs, games and music you will never use again need to be given the boot.

But a big clear-out of all your belongings doesn’t mean throwing them away – you can try selling them or trading them in for cash.

This can be time consuming, but it’s better than binning it all. And it's good for the environment too. I’ve made loads from selling a broken laptop, half empty creams and old clothes, so don’t think your items aren’t worth anything. One man’s junk is another’s treasure after all.

I tend to use car boot sales during the summer and eBay to declutter my home during the winter months, but when I’m looking for instant cash for things like books, CDs, DVDs, games, smartphones, tablets and other electrical items I use websites like musicMagpie, CeX, Ziffit and Amazon.

Read How to be successful at a car boot sale, how to sell successfully on eBay, selling DVDs: musicMagpie versus the competition and recycle your things for cash for on where to sell your stuff and how to be make more money from your efforts.

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Discover hidden money

Tidying up and decluttering on a house-wide scale won’t just unearth things you need to get rid of; you may uncover some hidden cash too.

You’d be surprised how much change can end up down the side of a sofa or in an old jacket or bag you never use any more!

A thorough clear out may also uncover a forgotten pension, unclaimed winning premium bonds, overlooked savings accounts or unclaimed money in a bank account that could be a real boost to your finances.

Back in 2012 during a routine clear out I uncovered an old Abbey passbook savings account that I had forgotten about for nine years. Read How I traced my old Abbey passbook savings account for more.

The Unclaimed Asset Register (UAR) estimates there is something like £15-£20 billion worth of assets that we’ve lost trace of over the years. For help tracking down your money take a look at How to find your forgotten money and assets.

Get on top of your paperwork

Don’t just focus on your wardrobe, cupboards, attic or garage when clearing out clutter. You need to take a look at your mountains of paperwork too.

It’s very easy to let things like post pile up unopened on a window ledge or kitchen table, while things that do get read and put in ‘safe places’ are often frustratingly hard to find when needed.

Organising your paperwork, by getting rid of the rubbish and sorting your vital documents logically, means you will be better prepared to handle your finances, for example exactly when your mortgage deal ends and when insurance renewals are coming up.

Why not go one step further and use a tool like Plans? You can scan in all your important paperwork in order to have it to hand with a click of a button.

Save on expensive storage solutions

It’s a Sunday and you’re in Dunelm buying yet another set of boxes for storage and your latest order of Ikea Billy bookcases is coming later in the week. Stop! You don’t have to buy more furniture or boxes to store your junk.

Decluttering will save you from having to shell out on expensive storage solutions. Having places to put things will trick you into thinking they aren’t clutter. Don’t fall into this trap!

Earn 5% interest from your bank account

Get the best price for your home

Clutter is a major turn-off when it comes to selling a home as we found out in Eight things that will turn people off buying your house.

So having a clear out won’t just benefit your state of mind; it can help your home become more attractive to potential buyers.

Too much stuff can make your property look small, hide important features, make it difficult to keep clean and tidy and generally be a real distraction to buyers thinking of purchasing your home.

Save on upsizing to a bigger property

If you have a lot of stuff, it’s probably taking up a lot of space in your home. This might be a corner piled high with books, a cupboard stuffed full of teddies, a hallway that's become a resting place for a broken exercise bike or an entire room filled with clothes, which can fool you into thinking you need a bigger place to live.

But having a clear out – a proper one that doesn’t involve storing things in boxes, moving things around or convincing yourself you might need something later and keeping it – means you can see if you truly have outgrown your home.

If your home was suitable when you moved in and your family hasn’t got any bigger, the only reason to move is to have more space for new clutter!

Earn 5% interest from your bank account

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