Summary4 min read

Podcast Summary: Optimal Finance Daily | Episode #3496

Episode Title: Why Paying For A Storage Unit Is A Waste of Money
Author: Michelle Schroeder-Gardner (Making Sense of Cents)
Host: Diania Merriam
Date: March 20, 2026

Overview

In this episode, host Diania Merriam reads and expands upon Michelle Schroeder-Gardner’s blog post, which critically examines the financial and psychological costs of renting self-storage units. Through personal anecdotes and striking statistics, the episode encourages listeners to declutter, be mindful about their possessions, and reconsider the true value of what they're storing away. As always, the advice is delivered in a relatable, motivational, and practical tone.

Key Discussion Points & Insights

1. The Surprising Prevalence of Storage Unit Use

The average U.S. home has nearly tripled in size since 1950 (from under 1,000 sq ft to about 2,600 sq ft).
Despite this growth, about 10% of households rent self-storage units ([01:03]).

2. Personal Experience with Storage Units

Michelle recounts paying $185/month for a storage unit for six months, totaling $1,110 ([01:27]).
Items stored were mostly sentimental: photo albums and childhood memorabilia.
She describes the storage as “wasteful” and notes the anxiety over the safety of irreplaceable items such as photo albums, compounded by storage facility restrictions ([01:46]).

3. Hidden and Ongoing Costs

Storage units often cost $50 to $200/month for non-climate-controlled units; higher for climate-controlled ([04:47]).
Over five years, $100/month adds up to $6,000. Listeners are challenged to consider, “Is your stuff worth $6,000?” ([05:10]).

4. Psychology and Behavior Around Storing Stuff

Most people rarely, if ever, access their storage units again after filling them ([03:08]).
Notable anecdote: Many who abandon units eventually have their belongings auctioned off—sometimes after decades ([03:21]).
Michelle suggests many store things they no longer need or want, questioning why one would pay to keep unneeded items ([04:02]).

5. Cultural Over-Accumulation

Referencing organizer Regina Lark: The average U.S. household has 300,000 things ([02:15]).
“U.S. children make up less than 4% of the children on the planet but have 47% of all the toys and children’s books” ([02:37]).
Despite more space, the culture of accumulation endures, fueling the need for offsite storage.

6. Practical Downsizing Advice

Michelle shares her transition to living in an RV, emphasizing that reduced space forced intentionality in possessions ([03:00]).
Suggests most people could downsize and make do with their current living space by thoughtfully reducing belongings.

7. Breaking the Vicious Cycle of Storage

Storing stuff often leads you to buy more, rather than make do with existing space ([05:33]).
“By storing stuff, you’re likely to buy even more instead of just making do with the items and space that you already have” ([05:34]).
Encourages listeners to think critically about every purchase and the possibility of donating or selling unneeded items ([05:57]).

Notable Quotes & Memorable Moments

“That's just an unbelievable amount of money to spend on things that we knew we weren't going to need or use for at least several years.” – Michelle ([01:35])
“When people put their belongings into a storage unit, most of the time they don't even step foot in there again until they get rid of the unit.” – Michelle ([03:08])
“Is your stuff worth $6,000?” – Michelle ([05:11])
Host Reflection:
“What if we implemented expiration dates for our stuff, just like we have for food?” – Diania Merriam’s suggestion to help listeners actively declutter ([08:22])
Host’s Personal Tip:
“One way I've done this in the past is with my clothing… All the hangers facing the wrong way showed me everything I really didn't wear, so I then donate that clothing.” – Diania ([08:39])

Timestamps for Important Segments

[01:03] — Introduction to the growth of storage unit use
[01:27] — Michelle’s story: $185/month storage unit and lessons learned
[02:15] — Shocking statistics on household items and children’s possessions
[03:08] — The reality of rarely using stored stuff
[04:47] — The real cost of storage units
[05:11] — Are your stored items worth the long-term cost?
[08:22] — Diania’s decluttering philosophy and clothing hanger trick

Overall Tone & Call to Action

Both Michelle and Diania use straightforward, honest, and gently humorous language to encourage self-reflection. The episode is equal parts cautionary and motivational, pushing listeners to:

Consider the true cost—financial and emotional—of holding onto physical possessions.
Declutter proactively and regularly.
Be mindful of consumer habits and storage-related decisions.

For Listeners:

If you haven’t evaluated your own storage needs or the value of what you’re holding onto, this episode serves as an inspiring wakeup call to simplify, save, and reconsider what really matters.

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Transcript8 lines

[00:01]
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[01:01]
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This is Optimal Finance Daily why Paying For a Storage Unit Is a Waste of Money By Michelle schroeder Gardner of makingsenseofsense.com the average home size in 1950 was less than 1000 square feet. Fast forward to now. The average home size has increased to around 2,600 square feet, according to the U.S. census Bureau. Despite that, according to spare footage, nearly 10% of households also rent a self storage unit. That's a lot of storage units. In July 2016, we cleared out our storage unit. We were paying $185 a month for a small storage unit, mainly for photo albums and childhood items. We only had the storage unit for around six months, but in that small amount of time we had already spent $1,110 in storage unit costs. That's just an unbelievable amount of money to spend on things that we knew we weren't going to need or use for at least several years. The storage unit wasn't completely horrible, but there were some negatives. It seemed wasteful to spend $185 a month to store things that we don't use. When we got the storage unit, I had to sign a paper that said we wouldn't store photo albums in there. In fact, I found out that this was normal. This felt like I was jinxing myself and I was afraid that something would happen to the hundreds of photo albums that my dad left for me after he passed away. And the storage unit was in an odd location. We put everything from our last house into storage. However, that was in a town where we knew nobody and we knew that we wouldn't be going back too often. So we rented a moving truck and had everything moved to Wes's parents attic. Don't worry, they lucked out as well. We gave them all of the expensive new furniture that we had stupidly bought right before we fell in love with the RV life. So all we really have stored there are photo albums and childhood mementos. Sure, there are legitimately good reasons to have a storage unit, such as if you are in between homes, but for the most part, the average person is wasting money by having a storage unit. Yes, it's possible to downsize and I know this because I currently live in an RV with much less storage room than a normal house. You don't need all of that stuff. According to professional organizer Regina lark, the average US household has 300,000 things. Yes, 300,000 sounds crazy, but it really adds up quickly. Think about all the plates, silverware, clothing and everything else you own. Also, According to Lark, US children make up less than 4% of the children on the planet, but have 47% of all the toys and children's books. That's just crazy. Given that the average home size has nearly tripled over the past few decades to 2,600 square feet, I really don't know how people still have more stuff to store than what already fits in their home. You really don't need all of that stuff in your house. You'll probably never use the things you're storing. When people put their belongings into a storage unit, most of the time they don't even step foot in there again until they get rid of the unit. This may be years and years down the line. I've heard of people who forget about paying for their storage units and after decades of not returning the storage unit facility, then auctions off their belongings. You stored it for decades, never stepped foot into it, and then forgot about all your stuff. That's a huge waste of money. If you're storing your belongings, there's a big chance that you'll never use those items. After all, they're out of sight and out of reach. So how often will you actually use them? Many people store things that they don't even want. Surprisingly many people store things they know they don't need or want. So why are you storing these things and paying for them? A storage unit costs anywhere from $50 to $200 a month and this is for a non climate controlled unit. If you want it to be climate controlled, you'll pay significantly more to store your items. It's probably not worth it to store whatever you're storing. If you're spending $100 a month storing things you don't even want, you should think about how much it's costing you in the long run. Even if $100 doesn't seem like much, that's $6,000 over a five year period, is your stuff worth $6,000? Even if you're just storing it for one year, is your stuff worth $1,200? By storing stuff, you're likely to buy even more instead of just making do with the items and space that you already have. A storage unit can actually cause you to spend more money. This is because you'll be hoarding more and more things and then you'll just continue to put things in your storage unit because you have that extra space. Well, that's a huge waste of money. Instead, you should just make do with the space that you already have and really think about every purchase you're considering. You have time to donate or sell your stuff? Some people have a storage unit because they think they don't have enough time to donate, sell or otherwise get rid of the stuff they want to store. Well, with the amount of time it will take to bring your items to storage, you could probably just get rid of them. Plus, someone else may find a great deal of value in your stuff and or you may help someone in need. You just listened to the post titled why Paying for a Storage Unit Is a Waste of Money by Michelle Schroeder Gardner of makingsenseofsense.com when you're ready to
[06:46]
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[07:51]
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[08:19]
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Stuff has a tendency to creep up on us, especially when we have the space for it. I think when you have something in your possession, even if you don't need it in the moment, you'll tend to keep it just in case you might need it in the future, and that will pile up over time. What if we implemented expiration dates for our stuff, just like we have for food? One way I've done this in the past is with my clothing. I would go through my closet and organize all of my clothing once per year, and then when I put everything back in the closet, I would turn the hangers around so that the open side was facing out. Then when I wore that piece of clothing and I was putting it back in the closet, I would put the hanger back the right way so I can see that I actually wore that thing after a year. All the hangers facing the wrong way showed me everything I really didn't wear, so I then donate that clothing. I think the other benefit to having less stuff is that you're more conscious of what you do have and you're less likely to buy duplicates. When you're in need of a yoga mat, for example, and you can't find the one you think you might have stowed away somewhere, you're more likely to buy another one. But that's it for today. Thank you for being here every day and listening. Have a great rest of your day and I'll see you tomorrow, where your optimal life awaits.