I love buying interesting domain names. I do that with the hope that one day, I end up using the domain name for one of my side projects or at least work on a side project after purchasing the domain name. Sometimes, I just think of an idea and come up with a good name for it and immediately buy a domain name for it (I blame domainr.com for making it so simple to lookup domain names). Due to various reasons, I don’t get to most of those projects. I end up hoarding the domain names. On one hand, I don’t let go of them and on the other, I feel guilty paying for the domain names and not even using them.
I realized that I was spending way too much money on domain name renewals on an yearly basis. It was a lot. I knew that I owned a lot of domain names, but, I didn’t really keep track of them. So, one fine day, 3 years ago, I opened up my domain registrar accounts and checked how many domains I owned. Across 3 different domain registrars, I owned a total of 62 domain names! Some were interesting, funny, creative, while some were stupid and some were just silly. Since, I owned a lot of domain names, I was marked as a VIP member by one of the domain registrars. I’d receive special discounts and offers that non-VIP members wouldn’t.
The fix was simple really (unlike the realization). I could either sell all my domain names, which is a tedious process and requires a lot of patience or I could let them expire. The latter seemed more appealing to me and so, I let my domain names expire, one by one. Most of them are now registered to other owners. Also, I decided to only buy a domain name after I finish implementing the idea. I did that with my Money app and it worked really well for me. I still do hit domainr.com up, every now and then, but, I don’t buy domain names if I haven’t already worked on the idea. As a result of this approach, after 3 years, I, now, own only 8 domain names and I use them all.