Americans are typically enamored with buying everything new. They always want the latest and greatest things the marketplace has to offer. It’s something people start learning at a very young age. Kids see the latest and greatest toys being advertised on TV and that’s exactly what they want just like the rest of the kids in the neighborhood. This kind of indoctrination is wonderful for manufacturers and merchants. It’s not so good for your pocketbook.
If you can get past the notion you have to buy everything brand new, you could save yourself a ton of money. That extra would allow you to save more or perhaps buy more items. The thing you must learn is it’s not always necessary to buy things that are new. As a point of reference, the following information will point to four types of products you should consider buying secondhand.
- Baby Things
The reference to baby things refers to items like baby beds, strollers, clothes, musical mobiles, highchairs, and toys. From a practical standpoint, your baby has no idea the stuff you are buying is new. The price you pay for baby products often borders on insanity. If you can find clean, solid secondhand baby products, you can put the saving aside for your child’s education.
- Blue Jeans
For just a moment, you need to think like a practical person. When the average American goes out shopping for jeans, they are usually looking for merchandise that looks a little worn and faded. A lot of women actually want jeans with rips in them. If you buy jeans secondhand, you would likely be buying that which everyone else is willing to pay big dollars to purchase. With a little laundry detergent, you can look fashionable for a fraction of the costs.
- Formal Wear
Unless you or your spouse have high-level jobs in government or work as high-level executives in a big corporation, it’s not often you are going to need formal wear. Seriously, why would you spend hundreds of dollars on an evening gown or tux you might wear one time a year? From a strictly financial perspective, that makes no sense at all. This is a clothing item you can afford to buy secondhand. No one at the wedding will know unless you let it slip.
- The Big-Ticket Items
Big-ticket items refer to products like cars, refrigerators, furniture sets, riding lawn mowers and recreational equipment. The problem with buying these items new is they depreciate in value by as much as 25% the second you walk out of the store. You literally pay money to select the product. Why can’t you save all that depreciation by buying secondhand items that have already taken the valuation hits? Yes, you want to be careful to not buy someone else’s repairs. If you do the proper due diligence, you can buy secondhand big-ticket items and save big amounts of money.
Under the category of “best-laid plans of mice and men…”, emergencies can still wipe out savings. You can be diligent about saving and frugal to boot, but that still won’t eliminate you from the possibility of an emergency that devastates your finances. Without enough savings in place, an unexpected emergency can leave you in need of additional resources to handle the situation. You may want to consider seeking out direct lender installment loans for bad credit to help provide funds in the interim while you get your finances back on track.
It’s because of emergencies that you want to learn to save as much as possible. If you can put your pride aside for a moment, you can buy some very nice secondhand stuff and save a lot of money in the process.