Consumerism is one of foundations of affluent societies. People buy and sell and the economy can flourish. However even though the marketing of much of the material possessions focuses on “new and improved”, there are seven items to never buy new.
A car- once it is driven off the lot it loses 11% of its value. Used cars can almost always be a better deal when shopping with caution.
Clothes – the retail value of a piece of clothing is based on how many stops it makes from manufacturer to retail store. These can range from 5-10 and another charge for the product is added. Therefore clothes are marked up 300%from manufacturer to retail outlet. Instead shop at consignment shops, flea market, goodwill or Salvation Army and online discount sites.
Fine jewelry – again the retail price is quality inflated. After the first year of purchase 10%of the price has been depreciated. Instead find good deals at estate sales, pawn shops and online.
Recreational items– boats alone depreciate 50% after 5 years of use. Buying directly from a person selling their recreational item is always a better option. Again buyers beware.
Exercise gear– most of the time treadmills, road bikes and in-home gyms are used only for a short period before they start gathering dust and the owner can sell them at reduced price. Check Craig’s list and eBay for savings.
Entertainment – this includes books, DVDs, cds, video games. Most of these can be rented for a nominal fee or bought used at second hand stores.
Instruments– the price tag can be daunting yet buying on eBay or Craig’s list is a considerable savings for decent condition of the instrument.
HAPPY SHOPPING!!!
