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Dec 09

Is thrift the new black?

Our parents and grandparents had loads of sayings, like “A penny saved is a penny earned” or “If the wind changes you’ll stay like that”.

They also had a lot less debt (sorry, credit) as the older generation tended to save up for things, rather than whip out the VISA.

So the concept of saving up for something you want is pretty much out of fashion, or has been until the recent meltdown in the (sorry, debt) industry. However, thrift as a state of mind is worth persuing as saving money really is the same as earning more, whether you use it for life’s luxuries or to pay off already accumulated debt.

I’m going to collect up as many money saving tips as I can find/steal and post them all, a few at a time, starting with these three. As it’s nearly Christmas, I’ll begin seasonally;

  1. Cut back on the amount spent at Christmas on presents and food. It is no embarrassment these days to tell friends and family you are cutting back, and they may also be relieved to reciprocate.
     
  2. Find the cheapest source you can for books, CDs and DVDs. Enjoy them, in the case of CDs rip the content onto your Ipod (or whatever) and then sell them on, either on Ebay or Amazon, as I discussed in previous posts here and here.  If you play the system right, you can have almost free entertainment.
     
  3. Stop buying clothes for a while. Apparently we only use 20% of our wardrobes regularly ( that much?) The other 80% is overlooked, hidden at the back or sartorial disasters. If you hate the stuff that much, flog it on Ebay.

Ok, thats the lot for now…why don’t you readers send me some too?

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