Buying used

"Buy used and save the difference" is the family motto of the Duggars. Stars of their own reality show, "19 kids and counting", the Duggars have been debt free for about 20 years and achieved that status long before their success as reality TV stars. I must admit that I learned this trick later in life. When I first moved out on my own the only thing that was used was my car and honestly that is because I didn't know about bank car loans. When I moved out of my parents house I bought a new television, stereo system, computer, and more. The funny thing is I bought my first computer on credit so that I could track my finances in Quicken!

Now my wife and I are frequent shoppers at thrift stores, Craigslist, and even free things from friends and family. We have also found it best to buy seasonal items (Halloween Christmas, summer clothing, etc.) at the end of the season since they are largely discounted.

Let me give you an example of how much you can save buying used . The first weekend in November, the largest subdivision in our town has a neighborhood garage sale. This year, our first living here, we went and browsed the sales. I was soon asking myself why I would ever pay full retail price for something new when I can buy it used for pennies on the dollar. The answer to that question is simple; I buy things new  because I want it now and am not willing to wait until I can find it for a good deal used. I want it now! Isn't that really the core of many of our financial woes?

Below are the spoils from this year's garage sale hunting. First I list the price we paid for it, then the item description, then what it sells for new.

$1.00 American flag and flag pole $16.97
$2.50 small shredder $20.00
$5.00 Children gate $70.00
$35 surround sound stereo system and DVD player $80 and up
$1.00 three pair gloves $4.00
$.50 Sidewalk chalk $5.00
$1.00 Play dough $6.00
$3.00 Books $50.00
$2.00 multimeter $5.00
________________________
$51.00 paid for $256.97 worth of items

It is important to note that for us our garage sale budget comes from the same budget that groceries do. Since we use cash for that category it keeps us from overspending.  So we will be eating more beans and rice for the next week until our cash envelope gets refilled.

Happy savings!