If you’re looking for ways to squeeze more from your income, then this article is going to reveal multiple areas of your life where you can save a big chunk of money by buying used rather than new items. I’ll cover things such as furniture, tools, vehicles and more. Get ready because you will probably see a few eye-openers you never though about.
New furniture has some crazy profit mark ups. But you can really find quality used items. Of course, there are places online to look for furniture such as eBay and Craigslist. But I disovered a great local source when I had some decorating done in my home.
I was introduced to consignment stores. These are little shops where you can take your furniture and furnishing, and the shop owner agrees to sell them for you. Usually the profit split is 60/40. Anyway, I was able to find very high end items for just a fraction of what they would cost new. So if you have any furniture consignment stores in your area, check them out.
Like furniture, the price mark up on jewelry is ridiculous. Go for used sparklers and save yourself 50%, 60% or 70%
There are lots of places to find used toys. Start with eBay and determine if there are used toy shops in your area.
I find that most tools are very durable. In fact, I have some that look just as good today as when I originally bought them 10 or 15 years ago. So there’s really no need to buy new tools, unless it’s some sort of specialty item that is hard to find. You can locate used and very inexpensive tools at yard sales, flea markets, even online.
5. Bikes and Trikes
Most bicycle shops will have a selection of used bicycles. As enthusiasts gets bored with their current bikes or want something cooler, they’ll sell them or trade them in. You’re bound to find some good deals.
Just be sure to do your due diligence. Inspect the bike for frame and fork damage. Make sure the seat isn’t bent and that the chain is in excellent condition. Also, make sure it’s the right size for you or whomever you’re buying it for.
6. Motor Vehicles
One of my pet peeves is seeing someone with a brand new car, especially when I know they aren’t exactly rolling in dough. When you consider that the value of the average new car drops by nearly 40% after two years, wouldn’t it be wiser to buy a used car with low mileage?
Before I buy a used car, I always ask a mechanic to check it out from top to bottom and end to end. They can also connect the car to a diagnostic computer to get a sense for any glaring issues.
I love browsing used bookstores. The prices are dirt cheap and you usually come across something you never expected. So check out local used bookstores, or even better, save more money by going to the library. This is especially so for college text books.
8. A home
If you compare the price per square foot for an existing home versus new construction, you’ll find the existing home to be a significantly better deal.
Is it really necessary to pay $1000 for a pure breed dog or cat? Why not just visit your local humane society shelter and pick out a pup that you have great chemistry with? Plus, you’ll be saving a life.
And if your heart is set on a pure bred pet, did know that about 25% of them end up at the pound?
10. Baby clothing
They grow up so fast, don’t they? There’s no need for your baby or toddler to make a fashion statement, especially when they’ll outgrow what you bought them in about 6 months. You’ll find inexpensive baby and children’s clothing at places such as Goodwill and other used clothing shops.
So now you have ten great ways to hold on to more of your hard earned cash. With the money you save, add it to your retirement fund or use it to pay down debts.
Can you think of other things where it’s better to buy them used? If so, leave a comment below.