Budgeting Tip: Use What You Buy

A columnist at Get Rich Slowly describes how her family learned to focus on getting the most use out of the things they purchase, rather than using them once or twice and then moving on to the next new thing. While it sounds like an obvious tip, it can be a little harder to practice in real life—but, she writes, the results can be eye-opening.

Take, for example, a couple of hiking packs they splurged on this summer:

We might have left those packs in our garage, next to the tennis rackets, roller blades, picnic baskets, etc. But changing our perspective on money has made us get off our butts and get back to nature. Changing the way we think has also causing us to expose our kids and ourselves to things we missed out on as children because our parents ignored the amazing opportunities in our own backyard. We’re learning to use what we pay for and in the process enriching our lives through experiences rather than things.

A response on the Get Rich Slowly page offers another useful tip: “I had a friend that would calculate how much something would cost per use. Worked especially well for dressy clothes, sports equipment and fancy kitchen gadgets.”

“Use it or Lose It: Getting Value from the Things You Own” [Get Rich Slowly]
(Photo: Getty)