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Marie Kondo’s Netflix series, Tidying Up with Marie Kondo, debuted in early 2019 and led to her seemingly overnight stardom. As soothing as it is helpful, the show has given rise to her de-cluterization method which she calls the KonMari Method. The series is based on her book, The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing.
Kondo’s secret to tidying is going through one’s home one possession at a time and eliminating anything that doesn’t spark joy.
According to Kondo, to know if something sparks joy, you need to pick it up. This could be your favorite book, a family heirloom, or that special sweater that always makes you feel warm and cozy. Hold it in your hands and try to get a sense of how it makes you feel. If it sparks joy, keep it. If not, get rid of it!
1. Save Money By Raising The Bar Before Making A Purchase
In the KonMari Method, you are supposed to eliminate everything that doesn’t spark joy. This same philosophy applies to new things you bring into your home. In other words, you now have a rigorous test that new purchases must pass before being made. Over time this can lead to thousands of dollars saved in unnecessary purchases.
A common misconception is that the KonMari Method encourages even more consumption.
Kondo argues in her book that after downsizing, you will realize that you don’t need to buy more things because you will not miss the items you no longer have. Just don't fall into the trap of getting rid of everything in your closet just to have an excuse to go on a shopping spree. It can be tempting to refresh your wardrobe, but it's not going to bring you sustained happiness, which means your dollars are best spent elsewhere.
Remember, the true purpose of the KonMari Method is to be happy with the things you already have. By focusing on the things you really love and enjoy, you’ll be more satisfied and happy.
But, don't avoid making necessary purchases because you don't think they'll bring you joy. If you live in a cold climate, it'll make sense to buy a pair of warm boots even if they don't bring you an abundance of joy because, in practicality, you need to keep your feet warm.
2. Simplify Your Financial Life By Streamlining Your Financial Accounts
KonMari is helpful beyond simply helping you purge old things you no longer use or need. It's all about cutting out the excess. For example, many people own a stack of different credit cards. But did you know that closing cards you don’t use may help improve your credit? Having fewer accounts and credit cards can also help you stay organized so that you don’t miss any payments.
Student loans are another area where trimming down can come in handy. Often times, student loans don’t come in a tidy package. In fact, student loans may come in the form of multiple loans for every semester, so it’s not unusual to graduate with a handful of different loans to manage. Refinancing your student loans and consolidating them into a single loan can both lower your interest rate and simplify your life.
3. Save Money On Food By Reducing Waste
There's a good chance you have a refrigerator bursting full of things you won't eat before they spoil.
At the end of the month, a significant portion will go into the trash, and you will head back to the grocery store and fill up your shopping cart with another couple hundred bucks of more stuff to restock every inch of real estate in your refrigerator.
To apply the KonMari Method, arrange your refrigerator in a way that you can see everything inside of it when you open the door. This will only be possible after a thorough review of everything inside. Much like you did with your clothing, go through each item.
But instead of keeping items that spark joy, keep things that haven’t rotted or expired. Your refrigerator should be much more empty now. When I have guests over, they are always surprised by how little food I keep on hand. The truth is, I save more money this way. I only buy ingredients for specific recipes that I am going to make. This means going shopping more but spending less.
Before each trip to the grocery store, make a shopping list with all of the items you need. Do NOT go shopping without the list or on an empty stomach.
Another added benefit is that your shopping trip will be much shorter, since you will not mindlessly wander each aisle browsing for things you don't need. Your waistline will also thank you as you will be less likely to impulsively buy soda, chips, cakes, and other unhealthy items.
While it is clear that Kondo's method can allow you to save money, it can actually also help you bring in more income.
4. Supplement Your Income By Selling Things You No Longer Want
Selling some of your things can help fortify your budget and help you accelerate your savings. By keeping your expenses low, every additional dollar that you earn will go straight to your savings or investments rather than being spent. If you don’t have a budget, use this guide to learn how to make a budget.
Once you have a pile of things you are ready to sell, you might find it hard to part ways if you receive a lot less than you paid for something. Just remember that selling something for 15% to 25% of its original value is better than keeping it and getting $0 for it.
If you live in a home and have a spare room full of junk, you may also be able to rent out the spare room on Airbnb or find a roommate to make extra money, once you've emptied it of things you no longer need.
5. Lower Your Tax Bill By Making Charitable Donations
If you find a usable item that doesn't spark personal joy for you anymore and you can't sell it, give it away! If you want to ensure that the items you are donating find their way to individuals in need, reach out to a local church or community organization. Alternatively, you can always stop by GoodWill or the Salvation Army and drop off your donations. Just make sure that you keep your receipts.
You'll also want to remember that the IRS only permits deductions for donations of clothing and household items that are in good condition or better. If you bring $1,500 in clothes or furniture to the Salvation Army or GoodWill and you are in the 24% tax bracket, your donation may be worth $360 in tax savings if you happen to itemize your deductions.
Maybe you are ready to buy the book and dive head first into organizing your life or maybe you are happy with how your life is currently organized. Regardless, I think we can all agree that we could be a little happier with the things we already have. A little mindful spending can go a long way, and you'll save money in the process.
