New or Used – 3 Money Saving Options

Saving money can be hard. Often, when it comes to purchases we think there is only one option. More often than not, when it comes to big purchases, people choose to buy brand new. Whether it be a tool, a household appliance, or a hobby tool, there are always alternative money saving options.

1. Buy Used

The first option to save money on these types of household purchases is by buying used. Rather than buying a brand new coffee pot, power tool, or pots and pans, try buying used. There are many different sites available for this, in addition to second-hand stores locally. Before running out and purchasing that new item you so desperately want, try finding it used first. Buying used will result in big savings!

2. Rentals

Another option available for many big items it the option to rent at a reduced cost. This can be done for things like trailers, trucks, moving supplies, tools, and cleaning supplies. A large factor to consider when deciding to buy or rent is the maintenance and storage of an item. For example, I would love to have a carpet cleaner for my house. We have dogs, and things can get messy. But, I don’t use more than twice a year. And I don’t have space, nor the desire to store it. So instead of shelling out $300+ on a carpet cleaner, I rent the machine.

3. Borrow

Borrowing items is a long lost secret in today’s culture. Rather than going out and buying the new device you want, instead think about other items you already have that could accomplish the same goal. Then think about anyone in your circle who possibly owns what you want to get. Ask if you can borrow it from them! There is no reason why we can’t share with our friends and family.

There you have it. Three simple ways to save money in your budget, and some alternatives to spending money on larger items.

What is your favorite option to use? What was your last major purchase, and how do you feel about it now? Let us know in the comments below.