There are bad ideas, and then there are ideas so bad that the very thought of the idea should have you questioning your ability to even use velcro. Okay, that’s a bit over the top, but you get my point.
I’m often asked what I think is the biggest waste of money. While there are certain expenses that are in the running for this dubious title, none is so heinously wasteful as the winner. And of course by winner, I mean loser. The best of the worst. I mean the worst of the worst. Okay? Let’s move on.
If you are reading this blog, that means that you have access to a computer. Your access to a computer means that you are most likely in the wealthiest one percent of people on this planet. It’s crazy to think that ownership of a computer means that you have a degree of wealth, but it does. In other words, we have a helluva lot more than we think we have, when compared with our fellow planet-mates. This point really comes to light when you consider the fact that some of us have so much stuff, that we pay someone else money to hold the stuff that we aren’t using.
And that is the storage unit industry in a nutshell. They store people’s useless and underutilized crap, for a monthly fee. I challenge you to find a stupider expense than this. And if the renter actually has other, more pressing obligations that would be a good use of the money (such as saving for a child’s college education or paying off debt), then the rental fee for storing unused crap is astronomically stupid.
Fortunately we live in a free market capitalistic society that allows you to sell your storage unit filler to other stupid people for them to store. Yes, I realize that storage units can makes sense in the middle of a move, or for those serving in the military. But most of the other justification for paying someone else to store stuff that you never use, are simply BS.
Can you think of a stupider expense than this? Leave me a comment, and let me know.
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.