Many people are rich based on their belongings. Does that describe you? If you had bought fewer “things,” how could that have increased your net worth?
Studies have shown that people hold on to things for sentimental reasons or because they think they may need that item someday.
Teresa Bullock Cohen, a licensed independent clinical social worker, shares why people have such a hard time letting go of things: “People hold on to things based on a fear of deprivation.”1 She points out that it is easier for the brain not to make a decision, which is one reason that people do not let go of material things that are no longer of use to them.
Most self-made millionaires, ...