Do you still have that pair of jeans you bought three years ago in the hopes of fitting into them soon? What about that cute, colorful cardboard box your delivery came in a few months ago – you’ll make use of it eventually, right? Have you gotten rid of that (hideous) porcelain tea set from a distant family member that’s tucked away in your kitchen cabinet yet?
Cleaning and restoration service company, ServiceMaster of Lakeshore, conducted an extensive survey of 7,000 American hoarders to find out the value of the items people are hoarding in their homes. It was found that we are hoarding almost $50 billion worth of unused goods, which is on average the equivalent of $390.16 per household.
In The Beehive State, it was found that people are hoarding $441.67 worth of items per household, which is the equivalent of over $460 million worth overall in the state! Additionally, 48% of Utahns admit that their unused goods are a fire hazard.
It has been widely reported that illegal dumping is problematic in the U.S. and in Utah, 33% of people admit to having illegally dumped unwanted items (compared to a national average of 26%).
ServiceMaster of Lakeshore has also created an interactive map of the U.S. where you can view these results across the country: https://servicemasteroflakeshore.com/costly-clutter/
Acceptance is the first step to recovery: 16% of respondents put up their hands and admit they are guilty of being hoarders. When broken down, it was found that women (17%) are more likely to hoard than men (14%).
Another interesting piece of information the survey discovered was that only 39% say they recycle their electronic waste. This is actually an environmental hazard due to the highly toxic materials contained in e-waste, such as mercury and heavy metals. These substances contaminate landfills and take up unnecessary space.
[Practicing safe recycling methods for electronic waste is of vital importance – avoid throwing it into general recycling bins as there is a separate way to recycle these items. Perhaps you could donate an unwanted device to someone who can try repair, repurpose or resell it in order to avoid damage caused to the environment].
It seems that hoarding is one of the causes of domestic disputes, as 22% of couples admit their habits have been the cause of arguments! Could this have something to do with the fact that 1 in 10 people say they hoard cash at home?
Think before you buy: Additionally, 17% of people say that most unwanted items they keep in storage were impulse buys.
On average, Americans admit that they have a big clear out around their home twice a year. When asked what the hardest items would be to throw out, 28% of respondents said clothing and 24% said outdated tech. 18% said it would most difficult to throw out furniture; 16% said books; 12% of people said movies and 2% said seasonal items
Can’t Say No? Utahns admit FOMO has got them spending an extra $349 per month, reveals study.
Have you ever said yes to attending a social event even though your bank account says no?
FOMO – Fear of Missing Out – is a very real phenomenon that affects people across the nation, as well as their wallets! It refers to the deep feeling of envy you get that other people are having more fun or experiencing better things than you. This sensation is often exacerbated by social media platforms, which can have a significantly negative effect on your self-esteem if you are constantly exposed to the event you feel you’re missing out on. In fact, the concept of FOMO is so widespread that in 2013, the word was officially added to the Oxford English Dictionary!
Money-saving and coupon advice website, Couponing101.com, conducted a survey of 3,500 people to investigate just how much they are spending to avoid the feeling of FOMO, as well as how many overspend on payday leaving them strapped for cash for the rest of the month.
It was found that overall, Americans admitted they would spend 8.2% of their salary in order to avoid the feeling of FOMO. This is the equivalent of $326.04 per month and a whopping $3,912.50 per year!
More locally, it was found Utahns admit to spending $349 per month in order to avoid FOMO. The study also revealed that 34% of Utahns say they overspend on payday and consequently, struggle financially to make it to the end of the month.
When broken down by state, it was found that respondents in Louisiana (60%) were most likely to overspend on payday, while those in Iowa were least likely (7%).
The survey also found that one third of Americans feel sad and excluded after seeing photos of friends and family at a social event they did not attend. Women (41%) felt this way more than men did (24%).
Doing it for the ‘Gram? Additionally, nearly 1/5 (16.3%) of people admit that they go to events or on trips with photos for social media in mind! Again, women (17.1%) tend to do this more than men (15.5%).
Can’t say no: Worryingly, 17.3% of those surveyed say they have organized a loan or credit card to be able to afford to go somewhere because they didn’t want to miss out. 18.9% of women admit to this, as compared to 15.7% of men.
The survey also asked people in which area of their lives they tend to spend the most money due to the pressures of social media. These results were found to be vacations (35%), restaurants (23%), events (15%), health and fitness (13%), makeup/hair products (7%) and clothing (7%).
Moreover, when asked which social media platform was most likely to cause Americans most FOMO, 66% of respondents said Facebook; 13% said Instagram; 13% said Twitter and 8% said Snapchat.
================
1 in 3 young Utahns say they’ll never own significant assets when older, research reveals.
The financial challenges facing young people in America have been widely reported. Millennials and 'Gen Zers' continue to carry over $1 trillion in student loan debt, and are resigned to the prospect of renting long term rather than buying properties. Experts have observed that these age groups are even altering the way they define success – that is, less defined by the money they have, and more by the way they live. Success for them is doing meaningful work with a better work-life balance.
USAWillGuru.com, a provider of will & testament information – conducted a survey of 3,000 Gen Zers, revealing, somewhat unsurprisingly, how little in the way of financial value they expect to pass on to future generations when they are their parents’ age.
The study revealed that in fact, one-third (32%) of Generation Zers in Utah do not believe they ever will own significant assets to include in their wills when they are older. On the flipside, 76% of those surveyed said that they doubt they will inherit assets of any 'significant value’ from their parents.
Generation Zen? Encouragingly, when asked if they would donate part of their estates to charities, 80% of young Utahns said they would - above the national average of 65%.
Respondents were also asked who they plan to include as beneficiaries in their wills. It was found that close to 3/4 (74%) said they would pass their assets on to their family. 21% said they would gift proceeds to charity and just 2% said their assets would go to their friends.
A reflection of the sign of the times, a quarter (32%) of young respondents in The Beehive State say they would indeed consider leaving some money to organizations that combat climate change. Considering there is no Planet B, donating funds to help fight the effects of global warming is a great way to ensure this planet is conserved for future generations.
USAWillGuru.com also created a handy interactive map where you can view these results broken down across the U.S.: https://www.usawillguru.com/post/generation-zen
‘While the research clearly shows Generation Z do not expect to own significant assets to pass down to future generations, it is necessary to emphasize the importance of drawing up a will, regardless of the value of your estate,’ says Martin Brieger of USAWillGuru.com. ‘Take note that if you have not created a will by the time of your passing, your assets will be divided according to the law, which is perhaps not in line with your wishes.’
