It's easy to think of going from a larger apartment to a smaller one as a step backwards or the result of a mistake, but in reality downsizing has many benefits and can help you gain a stronger financial foothold for the future. Downsizing may not be for everyone, but before you write it off consider some of these benefits.
1. Downsizing saves money
It's an obvious point but still one worth making-you'll find much more money per month to put away into your savings account either for future use or to use in the short term. Living from paycheck to paycheck and not saving money will be a major source of stress, especially since it keeps you from going out or buying something for your home to improve your state of mind. Downsizing will allow you more flexibility in your budget to spend on entertainment or new purchases and still be able to save up each month.
2. Decreased cost of utilities and lower environmental impact
Often overlooked when downsizing is the decreased cost of utilities per month , and by extension the lower environmental impact you would make from consuming less energy. A space efficient apartment will also allow you to cool your apartment on a windy day just by keeping the windows open rather than turning on the air conditioner.
3. Cut down time spent on chores
One of the downsides of a larger apartment is more time needed to clean and maintain the space. By downsizing your space you can cut your time spent on cleaning and regain some lost free time!
4. Get rid of clutter and junk
Having an apartment with more space typically means having an apartment with more things. It becomes easy to hang on to clothes, items, letters and plenty of other things when you have space to store them. It may be a challenge but it will be rewarding to go through all your things and decide what you absolutely want and need to keep when downsizing.
5. Fewer unnecessary purchases
When it comes to shopping habits, being in a smaller space can be a priceless benefit. Having a more efficient space means having to consider each and every purchase you make to ensure it isn't frivolous and wasteful. Besides saving you money it can change your perspective on how to make purchases in the future should you ever move into a larger space again. Needless impulse purchases will be a thing of the past!