Many people tend to think that they always have not enough money because of their salary. The truth is that there is no ceiling for big spenders with bad habits. Such people can’t earn enough to save money as they will always find a way to spend them. What’s the solution then? The best way to save money is to just spend less on unecessary things and try to buy as many as you can used ones.
Is it only one best way to save money?
I don’t want to criticize anybody who buys a new car but in my opinion it’s one of the easiest way to overspend your budget. Please look below at a chart to see depreciation curve a car. It’s in dollars but rule is completely the same for pounds.
After 2 years some new cars can depreciate even 50%. Quite shocking, isn’t it? After 5 years £20 000 might be worth only a few thousands pounds. Do I buy a few years old cars then? No, I buy 10 years old cars for just a… £1000. In UK you can buy a car in decent condition for such small price and it doesn’t need to be unusual situation. Just visit eBay, AutoTrader or Facebook Marketplace to sort cars between £800 and £1200. Of course it won’t be a luxury car. However, most of us just need a car to move from point A to point B! What if you will be unlucky and after a few thousand miles some expensive part like engine breaks? Just resell it for a few hundred pounds! Don’t worry – there is always somebody who is looking for a car for parts. Just remember to have national brakedown as any car can break down in the least expected moment!
What else can you buy used to save hundreds or even thousands of pounds every year?
There are many more things you should buy used to save a lot of money. Please check below my private list:
- TVs
- Soundbars/speakers
- Smartphones
- Car parts (but only in good condition)
- Game consoles
- Headphones
- Furniture (some people even give them away for free – in decent condition!)
- Fridges, washing machines etc.
Additionally if you need something to use only once or maximum a few times (like a tool for example), buy this thing low quality and cheap. It doesn’t need to long-lasting, isn’t it?
Please let me know in the comments what you prefer to buy used instead of new to save a lot of money!
You may also like:
13 easy ways to save money for anybody!
Passive income – how to make it happen?
Living in the UK – how much money you can earn
How to be rich – what you need start doing now
Please keep on mind that I’m NOT a financial adviser and you shouldn’t treat above post as any kind of financial advice. This is just my blog where I share my knowledge but I can be wrong while doing so! Also please remember that any financial decision you will make might affect your finances either positively or negatively. Your capital is always at risk when you invest. You should always read T&C (Terms and Conditions) to make sure you know all the rules.