The key to spending smart includes prioritizing what matters to you as a spender. Personally, I am able to achieve smart spending by utilizing alternative shopping sources so I can put more money towards necessities such as education, savings, and bills. Shopping second hand is not necessarily just thrift shopping, but that is included. Buying second hand is any form of purchasing used goods at a discounted price. “Savers® 2018 Thrift Shopping Survey surrounding North Americans' shopping behaviors include: Thrifters are hunting for bargains: Half report their love of thrifting came from a desire to save money, with "savings" and "economic" being the most-associated words with shopping secondhand (41 percent and 30 percent).”
Stores: Goodwill, Value Village, Plato’s closet, local consignment stores (vary on area), Park Avenue Thrift, Buffalo exchange, Savers, Talize
Sites/Apps: Facebook Market Place, Poshmark, Depop, ThredUp, eBay, Etsy, Amazon (turn on USED filter), thriftbooks,
Other: Garage/Estate/Moving sales (popular in warmer months)
Value Village has half off Wednesday on the last Wednesday of every month (only for clothing). Park Avenue Thrift starts the week with $0.50 Mondays, increases by $0.50 each day and restarts each week. Another option on how to stack savings is though ThredUp. ThredUp offers sponsorships to Youtubers that then gives their followers a discount code. I suggest googling “ThredUp Youtuber Discount Code” to best utilize these savings. Some thrift stores also offer student discounts to college students if you show them your UNG ID at checkout!
You can fine one-of-a-kind purchases, occasionally vintage/valuable brands. It also gives you a chance to test out trends/styles before investing in them, sometimes even under $5 an item can allow you to be adventurous with your new style! These clothes you pick out will also already be laundered. Even though this seems like a concept that is generally unsanitary, the clothes will already be the exact size when you wash it. We also recommend washing these clothes at least once in order to wash away any germs and bacteria.
Another way to actually make money with second had shopping is learning how to resell. There is an Instagram page by @reezyresells that gives out some amazing tips on how to start your own reselling business. Secondhand shopping is a way to reduce the waste in the landfills. These are eco-friendly ways to recycle clothes and benefit the environment. Secondhand clothing stores are also a way to support your community. Most thrift stores are non-profit and creates jobs for people to have. It supports many low-income communities by allowing for a place to receive clothing for a lower price.
Students can benefit from this shopping as well. There are ways to purchase gently used textbooks as well as study materials. It really helps to have these prices cut as textbooks are generally astronomically high. Graduates are always in need of new interview clothes as you are trying to move into the business world. When thrift shopping, we have seen ties as low as 25 cents! There are many dresses and business suits as well for much lower prices.
UNG's SMMC is here to help you with all things money management. Schedule a personal consultation today to get started on your path toward finacial success!