Renting a Storage Unit
It's tough to resist the allure of self-storage, especially when you're renting a small apartment with one (count 'em, one) closet and no space for even a coffee table, much less an extra wardrobe. But if you're storing a bunch of stuff with the idea that you'll use it in the future and don't want to repurchase those things, think again. A storage unit actually won't save you money.
On the lower end of things, a five-by-five-foot unit costs an average of $40 to $50 per month, or $480 to $600 per year! As Money magazine points out, "These expenses combined are the equivalent of a car payment or monthly grocery bill for many households, which would offset any savings you might recoup by hanging onto this stuff in the first place." Instead, dive in and sift through what you need and what you can sell or trash — spending a little time now will save tons of money in the future.