5 things to buy second hand and save

Creating a beautiful home that is our cocoon from the world or enjoying our favourite leisure activities need not break the bank. Here are 5 things that you should consider buying second hand.

Furniture

Be a little retro cool when decking out your house or apartment. Often older furniture is well made and can outlast new, flat packed furniture and won’t empty out your hip pocket. Often a lick of paint or paying for some upholstery can give the piece an update, saving you not just money but giving you a unique stand out item that you’ll love.

Sports Equipment

This one is a no-brainer. If you are going to try out skiing or stand up paddle boarding (SUP) this year it makes sense not to go and splurge on the latest and greatest gear until you know that your new sporting activity is going to become a regular feature in your life. There are many people out there who have done just that and now — you just have to find them and give them that space in their garage back. The other benefit is that if you buy the second-hand skis, the money you save can take you on a few more ski trips to actually use them.

Kitchen Wares

Setting up a kitchen can be a killer expense but you would be surprised how quickly you can deck your kitchen out with just a few trips to op shops. You would be surprised how much lovely old crockery and cutlery is available for just spare change. Once you have given the silver a bit of a polish and the pyrex a good wash, you will have a collection that will be the envy of every food stylist in town. Don’t forget to keep an eye out for Tupperware whilst you are on the hunt.

Baby clothes and accessories

When you are pregnant and in full flight nesting mode, it can be all too tempting to splurge on brand new baby clothes. Department stores and baby shops filled with delicious smells,  nappy pants with frills and too cute to bar teddies are like chocolate to a chocoholic. But when you start thinking about the time that you are going to want to spend with your new baby and without your regular income, saving the pennies on baby clothes becomes more appealing. Ask anyone with kids and they will tell you, possibly with tears in their eyes, about the beautiful baby clothes (and shoes) that they bought bub only to be worn once because, well, those babies just grow way too fast.

Diamonds

Now before you turn your nose up in horror at the thought of a second-hand diamond, just consider for a moment that diamonds are bought and resold all the time. Diamonds were formed millions of years ago and the diamond in that engagement ring you have had your eye on in the jewellery store may well have been bought and sold many times before being set into its current form. Diamonds don’t chip or scratch so you actually would never know if the diamond had a previous life. Jewellery stores can place around 300% markup on jewellery (Source: World Economy 2015) if you are planning on spending around $10 000 on a ring if you buy a second-hand diamond and have it reset you could find yourself with a $40 000 rock on your finger.

In summary

We all like to splurge on new things now and then but when you are looking at buying things for your home and for your lifestyle do consider secondhand. It can free up your finances a little with the added benefit of not worrying so much when the dog jumps on the couch or your baby pukes pumpkin down their front!

Enquire about a competitive IMB Bank Personal Loan to help with furnishing

_{This is not intended to be investment advice.  The information presented is of a general nature, does not take into account your objectives, financial situation or needs and is not intended to be relied upon as a substitute for financial advice. Please consider the PDS available from IMB branches or by calling 133 462 before deciding if these products are right for you.}