We live in a material world – that's for sure. But paring down your possessions can help your financial situation in a few important ways. Your handbag collection might actually be worth a little something and selling it could help you cut down your crazy credit card debt. It also might give you more space at home so you can save a few bucks by canceling the lease on your storage locker. And finally, simplifying your stuff and getting organized can give you momentum to do the same in your financial life and break your bad habits.  Here's how to say enough to stuff.

1.    Set an immovable deadline:  Purging your things is hard, boring, time consuming work that can push all sorts of emotional buttons. That is why I recommend you place the ad for the garage sale, or book the junk removal service before you even get started. Nothing like a deadline to light a fire beneath your butt. 

2.    Call in moral support:  Have a friend come over to help you sort through the boxes.  The task will be infinitely more fun with your BFF and a bottle of Bordeaux. And they will be less sentimental about your 1980s VHS movie library, so the time you spend will be more productive.
 
3.    Take a photo:  I can be a total sap when it comes to things that have a great story. But when I'm really honest about it, what I want to preserve is the memory of the thing, more than the thing itself. So have your camera at the ready and take pictures of your macramé mittens, puppy dog puzzles and back issues of Reader's Digest. Memories are very cheap to store.