During the past few decades, thrift shopping has undergone a transformation. Now—thanks to the internet and social media—it’s more convenient than ever to buy high-quality second-hand items for a fraction of what they are worth. It’s also simpler to sell your own used belongings. In fact, once you learn to use digital technology for thrifting, you may have to revise your budget to figure out what to do with all the money you save and earn. It’s easier than you think!
It’s easier to find what you want.
In the past, if you wanted a specific used item, you had to visit a thrift store multiple times or go to numerous stores, often without success. Now you can shop around and locate what you want for a great price—without leaving your home.
You can find a huge assortment of online platforms with previously owned items for sale. Specialized websites sell clothes, luxury goods, sneakers, books, sporting equipment, outdoor gear, and more. You can also visit online versions of traditional brick-and-mortar favorites, such as Goodwill Industries and The Salvation Army. If you prefer, you can buy directly from individuals on an online marketplace, classified website, or auction site.
It’s easier to discover an item’s worth.
The more you know about something you are thinking about buying, the better. If you were shopping thirty years ago, you’d have to be an expert to answer the following:
- What artist crafted this teapot?
- Is this old wooden table an antique?
- What brand is this shirt without a tag?
Now, you can snap photos of these items and find the answers! Technology takes the guesswork out of thrifting—in person or online. With your smartphone or computer, you can perform a reverse image search to see an item or something similar on multiple websites, or you can use an image recognition app to identify an item and find it at various places online. With these tools, you can learn about an article’s brand, if it’s for sale elsewhere, and other information to help you determine its worth.
It’s easier to make money selling second-hand possessions.
Another way to help your personal or family budget is to sell belongings you don’t want anymore. You can advertise them yourself, market them through a virtual consignment store, or sell them to an online thrift store.
Some people take it a step further and become thrift flippers. They purchase quality used items, clean and repair them, and then re-sell them for a profit. Thrift flipping can be a fun way to earn some extra money—if you’re careful not to overbuy.
If you decide to sell or flip second-hand pieces, make sure you have a smart plan for your extra money, such as saving it for something special or developing an emergency fund. Consider opening an Excite Credit Union Go Savings account. New Members get a 5.00% APY* new Membership bonus (up to $2,500) for the first year.
It’s easier to enjoy saving money.
Now more than ever, thrifting is considered cool. People are proud of the smart deals they get. Rather than flaunt their expensive purchases, they brag about how little money they spent for a used item. Some people turn thrift shopping into a social activity with friends. You can sign up for thrifting party bus tours, thrifting with wine tasting, and thrifting retreats.
Multiple TV shows and social media influencers offer all sorts of helpful advice about purchasing second-hand merchandise. More importantly, they have opened people’s eyes to the many benefits of thrifting, which include:
- saving money
- discovering quality items
- keeping stuff out of the landfills
- finding unique pieces
- buying from stores that support nonprofit organizations
It’s easier to recalibrate your budget.
How much have you designated for clothes, household articles, and gifts in your personal or family budget? Challenge yourself to spend less in the coming months by purchasing some of these things second-hand. Also, try selling some of your own items that you no longer want. You’ll find that you have more money to add to your savings or emergency fund.
Need some budgeting assistance? Check out Excite’s Budget Calculator. Enter all your monthly expenses, and it will calculate your net monthly and yearly income.
Give thrifting a try! Saving money is easier than you think.
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*APY = Annual Percentage Yield. Eligibility and terms apply. Offer is subject to change.