Selling Something Before You Buy Something New is a Healthy Financial Habit Worth Getting Into

 Adopting new habits involves changing your perspective and your mindset. Simple changes and tweaks can make a big difference in the quality of your life. Rather than look at ways to stop spending money, you can consider making some modifications to your routine. One such modification is to sell something you already own before buying something new. This simple habit can save you a great deal of money over time. It can also be a fun, rewarding, and challenging practice. Let’s take a look at how it works.

Make a Swap

So, you decide you’d like to add some new clothes to your wardrobe. That’s great. Everyone needs a change now and again. One thing we all know, though, is that we probably don’t even wear half of what’s in our closet already. There are a lot of resources out there that allow you to sell your barely worn apparel at decent prices. Why not take some time to clean out your closet and sell some items off before bringing in new? This concept applies to nearly any type of purchase you can think of.

Every Bit Helps

Sure, it’s not likely you’ll bring in the same amount of money for your used stuff as it costs to buy something new. This is a given. However, it can still be worth the effort if you choose items to sell that are valuable to others. Try to find well-made items that are in good shape, with little wear. Things that are popular to particular groups are great. Try to be sure it’s relevant to modern interests. Selling vintage items does have its appeal to many, though. Even if you only get a third of what it costs you to make your desired new purchase, you still save in the long run.

Get Creative

When you make a swap, it doesn’t have to directly correlate. For example, using our clothing example above, you don’t have to only sell off apparel when you want to buy new clothes. It can be anything, really. Any item that has value can be used in your swap. Sell your record collection that’s been sitting around gathering dust to someone who collects classic music memorabilia. Then take the profits and buy that new dishwasher or lawn mower.

Look around your house and see what you have that’s of value and start selling. You’ll save money and have less guilt when you decide to splurge on something new. And, don't forget the suggestion to FREEZE your credit card...when you freeze your credit card, you wait for it to naturally defrost before making your buying decisions.

Until next time...

Cheers!

Lisa