The consequences of having possessions (7)
I believe the answer is:
effects
'the consequences' is the definition.
('effect' can be a synonym of 'consequence')
I cannot understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for effects that I've seen before include "goods" , "Total possessions" , "paraphernalia" , "They always have causes" , "Personal belongings" .)