Someone I know, a nice person I might add, ended a long-term relationship a number of years ago. Actually, it was about 5 years ago. Clearly, the end of such long-term relationships can be difficult, and apparently this one was very much so.
Anyway, with relationships ending there are often issues that arise afterward. Sometimes they can involve finances, logistics, and sentimental concerns. We can come up with so many example of how each of these factors can come into play when a relationship is over.
The example I have for you involves each of them. The person who dealt with the situation had a full set of apparently really nice furniture that was purchased as a part of the relationship. Also, this was furniture that was not only nice, but struck some kind of emotional cord. It seems as if it was custom-made, highly unique, and seemingly the product of a lot of time and effort to find dream furniture. Plus, as tangible items that you can visually see, they probably represented the relationship in one way or another.
So when the relationship ended, this the couple went their separate ways – and this individual put the furniture in a storage unit. The area in which this storage unit is located isn’t cheap, and it probably costs $150 per month.
You might already see where I’m going with this.
She kept the furniture in storage for almost 6 years. I think (from what I was recall being told) this included a sofa and bedroom furniture. Apparently very nice furniture, from what I was told.
But think about that estimated $150 per month cost. That’s $ 1,800 per year. Over 6 years, we’re talking about $10,800 spent on storing furniture!
Now, I’m not sure how much was spend on the furniture, but would a bedroom set and a sofa cost over $10,000 for most people? Probably not, though if this was exceptionally nice stuff maybe it cost that much.
Regardless, the residual value at this point simply can’t be that great. How much will someone pay for used furniture that’s probably at least 10 years old – even if it’s been stored for a good percentage of that time? Again, this isn’t to poke fun of a nice and intelligent person, but rather to point out that emotions can often influence our finances in a big way.
My assessment is that at this point, money is being spent every month for basically nothing in this case. For what purpose? Emotions, apparently.
When making money decisions, try to be objective and separate out emotions when possible
Money issues can emerge in all kinds of unexpected ways in relationships (even when they’re over!)
Be careful when getting a storage unit! It’s a tangential takeaway, but worth noting that a lot of money can be very easily spent without you thinking about it once it’s set up. Recurring, automated payments have a way of lulling us into a sense of complacency!
Question for You:
Can you see how this can be easy for someone to fall into this trap, or do you have a hard time understanding situations like this?