Profitable Ideas: Exploding Closets, Simplicity Wins, and More

Weekly list of curated personal finance articles from around the web.

Consumers have ‘5 times’ more clothes than they did in the 80s. This is the impact (CNN). I once heard that people typically wear only 20% of the clothing in their closet. I’m guessing that percentage is even lower now. See also, Fast fashion is literally making us sick (Fast Company).

Try ‘habit stacking’ to be more productive (Lifehacker). On the benefits of tying a desirable habit to an existing routine. See also, How to do great work (Paul Graham).

‘Concerning’ number of savers raid 401(k) accounts before retirement (MarketWatch). It looks like found money, but if you use it all up, where will you find the money to retire?

Minimalism vs. consumerism: the benefits of choosing a simple life (Becoming Minimalist). “This endless cycle of desire and disappointment leaves us with cluttered homes, strained wallets, and distracted minds.”

Why you should always ask your pharmacist the price of your prescription without insurance (Clark Howard). You may be in for a big surprise.

Rover review: how I made $10k dog sitting (Marriage, Kids and Money). Looking for a side hustle?

Why $1,000 car payments are becoming the new normal (Money). “The country’s love for cars often leads buyers to make decisions ‘economists would consider irrational.’”

Cut down your debt: 33 proven strategies that work (No Sidebar). Lots of good money-saving ideas here, which can free up cash to help you pay off debt or just enjoy more margin. See also, Beyond lattes and avocado toast: budgeting hacks that actually work (Fast Company).

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