When you have a system that works well do you ever like to tweek it a bit to see if you make it even better? Here, I’m talking about living on a budget—a plan to get out of debt, stay out of debt, have financial freedom now and in the future. If you’ve developed a workable budget, you know you have some financial power. You get to tell your money what to do. Would you like to tell it to do more for you?
One aspect of budgeting is planning ahead. Knowing what major purchases you will be making and gathering the funds for them. It’s an ongoing process; there will always be pricey things we need and providing for them through budgeting can certainly make them affordable. But, when you are planning to buy big ticket goods or services do you ever think, “I wish I could loosen up my budget. I could use a little more wiggle room.”? Do you pay full price for things?
Have you ever considered buying used? It’s a wonderful way to make budget more efficient.
Some people avoid buying used; usually it’s due to pride. I have several thoughts on that.
1 “What will the neighbors, friends, parents, children think?” Who cares!—and probably, no one.
2. most people are too caught up with their own issues to really give yours much thought. And three, if you wear it once—it’s used ever after; if it’s been test-driven, sat on, slept upon, lived in ... I’m sure you can come up with other examples. Don’t let pride get in the way of making a wise purchase.
I’m going to tell you a true story. I have a friend who lives on the East Coast. He’s married and has a daughter in college. They have lived on a budget for about six years. Shortly after they started budgeting his wife began buying many of the daughter’s clothes at a thrift shop in the next town over. (The daughter was in high school at the time.) Anyway, Mom frequently finds some really great stuff (at great prices, naturally), but at first the girl didn’t want to wear the clothes.—The old thrift store stigma thing. That lasted until she was in the store with her mom and about half the school’s cheerleading squad walked in looking for sweaters (and they already knew the store layout, so it wasn’t their first time in). After that my friend’s daughter was much more amiable to the idea of wearing at some of the things her mom bought. She did, however, always say, “Oh, Mom found it in a little shop between here and ________.” when she was asked where something came from. When buying used, it’s not necessary to be embarrassed but neither do you have to be blatant.
When buying used you prepare in much the same way as if you were going to be buying new. People have all kinds of reasons to sell an item; it may be unneeded or they may be in the market for an upgrade. Do your research! Go for quality. Find out how much “life” should be left in the item you’re thinking of buying. If possible find out how gently its previous owner used it. Search out the information you need to get a fair deal and make a wise choice. (There may be times when buying new is the better choice, but very often you more value for your dollar if you buy used.) Information about a product can be obtained from manufacturers, salespeople, repairmen, previous owners, online, sometimes even the library.
You will find numerous sources for used items: consignment shops, thrift stores, yard sales, newspaper ads, and more. (There are even whole magazines—that you pay for—devoted to selling some used items!)
As a wise buyer, educated about the product you are interested in, you take budgeting to another level. By freeing yourself of the need to buy new, you add to the control you have over your money.
