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Americans just love to buy things. In a recent survey, six out of 10 Americans admitted that they’re ready to make purchases that they’ve put on hold during the past five years. If you’re one of these people, you might want to slow down and think about your spending for a few minutes. Owning things is a great feeling but in some instances, it’s much more practical to borrow instead of buy. There are 7 Things You Should Borrow (Not Buy)
#1 Baby Stuff
When people find out they’re expecting, one of the first things they do is rush out and buy a bunch of things. In reality, it’s much more practical to borrow instead of buying certain items for a baby. Your baby will only stay in a swing or bouncy seat for 3 to 6 months. You can save hundreds of dollars by borrowing one from a friend. Same goes for a crib. Your baby is in it for less than a year. After that, you just have something that takes up space.
#2 A Quality Set of Luggage
If you don’t have to travel often for work, don’t spend money on a set of luggage. Instead, borrow luggage from friends and family. Chances are that you’ll be able to find someone who isn’t going on vacation at the same time as you. Luggage is big and bulky. It’s an unnecessary purchase that takes up space, especially if you are only going to travel a few times a year.
#3 Formal Wear
Every now and then, big events pop up on your calendar. These include weddings, formal parties, black tie work commitments, and more. Chances are, if you run out and buy a dress, you will be wasting money. That’s because most people wear a fancy dress or suit once. The next time an event happens, they want to wear something new that people haven’t seen them wear before. Therefore, it’s a waste of money to buy a new outfit for every formal occasion. You can easily borrow outfits from friends and family. There are also plenty of websites online that allow you to rent clothes for a fraction of the cost of buying them would be.
#4 Books for Leisurely Reading
Books, especially hardcovers and new releases, can cost you a pretty penny. Adult books typically cost you anywhere from $15 up. Most people typically only read a book once or twice. After that, the books just sit on shelves for years, collecting dust. Borrowing is a much more practical option. Many libraries stock the latest books. Little free libraries also offer books that you can borrow and return. You rarely should have to spend money on books since borrowing in these situations is encouraged.
#5 Expensive Equipment You’ll Only Use Once a Year
There are many home improvement projects and yard work that you’re lucky enough to have to do only once a year. If you don’t have the tools and equipment necessary to complete those tasks, don’t rush out to the store. Instead, borrow from neighbors. Many neighbors will be more than happy to loan you a ladder to clean out your gutters, a power washer to clean your deck, or clippers to trim your bushes. Neighbors often think of it as a friendly trade. If you have something they need, they’ll come knocking. This helps everyone in the neighborhood save on space in their garages, as well. You can also loan equipment from companies.
#6 Accessories for Parties
When planning a special event, you have to keep in mind that it’s typically a one-time thing. Big events like weddings and baby showers only happen once and therefore, purchasing a whole slew of decorations in unnecessary. Other events like anniversaries and birthdays happen once a year, but even so, most people do a different theme each year. The decorations you purchase will most likely end up in the trash after. What’s more is that you’re out a lot of money. Instead of buying decorations, party favors, dishes, and more; ask friends and family if they have any saved. Most people save decorations from their wedding so you should have an easy time finding some that you can borrow.
#7 Air Mattresses
If you have a large family or frequent guests than you’ll be able to borrow one thing that will make your life a lot simpler. Instead of rushing out to purchase a bed that will only be used a few times a year, see if you can loan an air mattress. Many people keep air mattresses on hand for camping and visitors. If you know you’ll have people staying over, see if you can borrow one. Since you’ll only be using this a few times a year, it’s a great way to save on money and space by not buying one.