Letting Go: Diamonds and Debt – Part Deux

by Tammy Strobel on September 2, 2011

{Way back in November, I wrote a post about diamonds and debt. At the time I was still trying to decide whether or not I should sell my wedding set. For the full back-story, read the article.}

“What’s the barrier to selling the ring, Tammy?”

I let out a huge breath and told my friend Michelle, “Well, it’s laziness. It seems easier to leave it in my jewelry box, instead of selling it. In addition, I don’t want to spend hours calling consignment shops or jewelry stores. But it’s time to let go of the ring because I never wear it and I feel like it represents the ‘old Tammy’  –  a woman who seemed to value diamonds rather than relationships.”

“What if you hired Andrew to help you? He sold a few pieces of jewelry for me when we moved to Portland and he already has some connections. You could give him 10% of the sale price.”

“That’s a great idea, Michelle! Let me talk to Logan and see what he thinks.”

Michelle and I moved on to another topic of conversation and gawked at the breathtaking view. Soon happy hour was over and I was biking up the hill toward our apartment. The air was cool and crisp and I wondered what Logan would think of the conversation I had with Michelle.

Over vegetable stir fry, I told Logan about the plan. I was a little nervous because I figured he would want me to sell the ring myself. But he was supportive of the idea!

Logan said, “I think this is great! I’m happy to support Andrew, since he’s a friend. Plus, he has contacts in the jewelry world. And it’s obvious that you aren’t going to sell it. You’ve been sitting on the ring for the last 8 months and I don’t want to sell it from underneath you. I feel like you might hold it against me.”

“I wouldn’t hold it against you because the ring isn’t important to me anymore. Besides, hiring Andrew is such a great option. I don’t know why I didn’t think of this before!”

///

Whenever I have a hard time letting go, I do the following:

1. I ask friends for help and advice. If I hadn’t brought up this topic with Michelle, my wedding set would still be sitting in my little jewelry box.

2. I mull the problem over. Reflection is essential to my well-being and by doing yoga, taking long walks, and writing I can sort through any issue.

3. I try to remember what I’ve read about loss aversion. Even if something costs a lot of money, there is no shame in letting it go. For example, I’m not going to recover the cost we spent on my wedding set. Diamonds don’t hold their value over the long-run and I’m okay with it. I’m not going to let loss aversion hold me back.

Do you have a hard time letting go of stuff that doesn’t serve you? Leave your thoughts in the comments section.

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