Frugal! When you mention the word, people start labeling you as cheap. But none of us want to look cheap. We all want to look like we are stepping out in the latest fashion or style, looking successful, relevant and like we’re living our best lives. How then do you look like you’ve stepped out from Nordstroms, Saks Fifth Avenue or Neiman Marcus, displaying luxury brands such as Louis Vuitton, Gucci, Burberry, Red Bottoms, Chanel and Prada without filing for bankruptcy or getting into debt?
Well you don’t have to be embarrassed regarding your frugal ways because according to Yahoo Finance, 93% of Americans shop online for second hand clothing and other slightly used items. Here’s what you should know about second hand shopping.
Second Hand Shopping
Let’s start with the economics. According to Couponfollow.com those of us who shop at thrift stores for clothing, on average save an estimated $1,700 each year. But the benefits of purchasing gently used or clothes from a thrift store come with the opportunity of what is referred to as “ upcycling.” In the event you have not heard of the term, “upcycling” it is the process of repurposing or extending the life of clothes.
Purchasing used clothes somehow comes with the license, permission and opportunity for people to dye clothing and perhaps update the look of a used article of clothing; changing, refashioning or altering clothes to fit better repair damages or create new designs. With new clothes from even your discount store your chances of finding a lower price are less than at a thrift, second hand store or online discount site.
There are several places where you find second hand clothing which would include Savers, Salvation Army and Goodwill. When it comes to Goodwill, for example, you can find good deals at one of their outlet stores which are more positioned to service resellers and charge clothing by the pound and not by the sale of each item. You can typically purchase clothes for $1 or $2 per pound and find more information on location near you by visiting www.gwoutletstorelocator.com.
If you are interested in purchasing second hand furniture, then there are some simple but important issues to consider which are common sense and can be overlooked. For example when shopping for used furniture, usually, one would want to know if the home was smoke free, or were there pets in the home. Making an assessment of furniture could be challenging especially with limited pictures, so be sure to ask for and look for flaws in the furniture or material.
Look Before You Leap
While you may have an eye for fashion, there is always the chance that you can be scammed. One thing to look for is to inspect the stitching when it comes to clothing. Knockoffs may have uneven or crooked stitching, inconsistent colors, zips or buttons on clothing. One safety measure is that websites such as TheReal.com authenticate items prior to putting them up for sale. On the other hand, sites such as PoshMark and eBay only authenticate certain items, so be sure what you are purchasing.
Finally, some department stores like Bloomingdales or Nordstrom sell authenticated used designer goods. When you shop online for second-hand items do not provide provide personal information such as your address and telephone number. Be sure to vet sellers prior to purchasing the item and avoid entering someone’s home alone and meet at a neutral site. If you purchase an item on platforms such as Poshmark, Depop, eBay and ThredUp which does not fit its description, you can return the item and receive a full refund if you are scammed. But if you get scammed on Facebook Market-place or on Craiglist, you may not receive a refund. If it means anything to you, just note that being frugal has become fashionable as 70% of Gen Zers and millennials shopped for secondhand clothing in the year 2024.
WHAT’S UP! Today’s What’s Up is about tariffs. It’s no secret that car sales will be affected by tariffs and here are two important factors to consider. Car prices are set to rise between 3% and 5% which means that finding new vehicles for less than $40,000 will be difficult. Another issue is that manufacturers are now considering spreading the cost of vehicles not just on vehicles made in the United States, but on all vehicles whether built or assembled in the United States. The final point is that during COVID car manufacturers had slowed down building new cars, thinking that there would not be a market for them. This meant that the used car market boomed as the new car inventory decreased. It will now take manufacturers another year to establish inventory to pre-pandemic levels. This simply means that the used car market prices for vehicles will increase. And that’s what’s up!
Ruthven R. Phillip, Esq., is a tax attorney, Stewardship and Philanthropy Ministry Assistant, and CEO of Give2Getrich, LLC. Give2Get Rich, LLC 2025 All Rights Reserved. Any distribution or reproduction of part or all of the contents in any form is prohibited.
