With the future of the nation's social security system in question, most financial experts recommend that individuals -- like you -- save as much as possible now so that you can supplement any potential benefits you might receive from the government when you retire. One of the ways you can save money is by purchasing the following things used rather than new.
According to Consumer Reports, a brand-new car loses about 47 percent of its value in the first three years that you own it. In fact, the car starts losing some of its value the minute you drive it off a new dealer's lot. That is why it makes more sense to purchase a vehicle form a used car sales that is approximately two to three years old. To get the best value for your money when purchasing a used car, you should:
- Purchase the vehicle from a reputable used car dealer. While you might be able to find some deals that look too good to be true on Craigslist, buying from a private owner can be a lot more risky that buying from a dealer. You could end up, for example, with a water-damaged car. On the other hand, a reputable used car dealer will not want to risk their reputation by selling you a vehicle they know has serious issues.
- Obtain a vehicle history report on the car you want to purchase. These reports will alert you to any accidents or major damage that the car has sustained in the past. It can also show you if the odometer has been tampered with as the car's mileage was recorded every time it was serviced or underwent a state inspection.
- Have a trusted mechanic look over the vehicle for you. This is especially important if you are buying a used vehicle as is.
Instead of purchasing all of your clothing brand new, check out thrift shops on occasion. Many of these stores carry gently used pieces, and they sometimes even have brand-new items with tags on them. You should also consider:
- Setting up a Sip and Swap night with your friends. Although these events are more popular with women, there is no reason why men couldn't participate, too. All you have to do is ask your friends if they would like to get together for an evening to exchange clothes they no longer want. If you are the host, you will typically provide a few bottles of wine to enjoy during the clothes swap. Any clothing left over can then be donated to a charity.
- Checking out consignment stores. If you are in need of a more expensive piece, but don't want to spend big bucks, you should check out your local consignment stores. These stores typically only deal in higher end clothing.
Have you been considering getting a pet? Instead of spending big bucks on a puppy or a kitten, why not check out the animal shelters or rescue organizations for a "used" animal instead. You could end up saving a lot of money because:
- A purebred puppy or kitten typically costs between $500 and $1,000. Most rescues and shelters charge substantially less for the animals they are offering for adoption.
- The animal is already spayed or neutered. Shelters understand that pet overpopulation is a serious problem so they won't place animals until after they have been fixed.
- Puppies and kittens need to see the veterinarian several times during their first year and will require a number of expensive shots. Shelter and rescue animals typically make sure that the animals they place are fully up-to-date on all their shots.
While these may seem like small choices, they could all save you hundreds of dollars over your lifetime. Money that you can then use to help you retire in the future.Share