[...] several great guest articles to Get Rich Slowly, including The Hidden Costs of Stuff and Getting Value From the Things You Own. When Amanda mentioned that she’s involved with Hypoplastic Right Hearts, an organization [...]

[...] previous articles at Get Rich Slowly include Use It or Lose It: Getting Value from the Things You Own, Get More Ban for Your Buck by Using Coupons and Sales Wisely, and Baby Boom: The Shockwaves of a [...]

[...] previous articles at Get Rich Slowly include Use It or Lose It: Getting Value from the Things You Own and Baby Boom: The Shockwaves of a Lifestyle Change. Look for more from her in the [...]

[...] the things you have. Last week, Amanda encouraged us to get value from the things we own. Before you buy a new computer game, ask yourself if you’re finished playing the last one you [...]

Very much like the “Living Simply” motto. What is the real cost – we dont look at it as how much work time to pay for it, or as in Jordan’s case, the value of the experience. How much “value” does it bring to one’s life. Or, as is so often touted for clothing and other material goods, if this one comes in, what are you willing to lose/give away?

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……

I think that when one considers the benefits, both tangible and intangible, of what we’re spending money on, then it can help in our budgeting.

[...] Use It Or Lose It: Getting Value From The Things You Own I agree. In fact, last night I made a pledge with regard to my video game collection: I won’t purchase a new game until I’ve defeated (or in the case of games that you don’t really “defeat,” make significant progress on) every game I currently have. In other words, bye bye video game spending and hello enjoying what I have. (@ get rich slowly) [...]

“On the other hand, if a purchase is going to improve our lifestyle, health, and happiness, then we can be comfortable with investing in those things instead of just buying stuff to fill up our garage.”

As a recovering REI addict I can attest to how much you can run up a budget on outdoor gear using this rationale. Stuff that gets used regularly, gets you outdoors and exercising and isn’t just rotting away in a closet can still get very expensive, even “simple” hiking gear (not to mention climbing and snowboarding equipment.)

It’s also easy to fall into the “this pack I bought isn’t really as comfortable as I thought, or as big as I need, or as convenient for storing gear…I need this other model instead…it’s better.

It’s the same as with any other kind of compulsive shopping behavior which those of us who are trying to live frugaly are working to move away from. Though it’s easier to fool ourselves into thinking that’s not what we’re doing when it is for something that’s healthy and for exercise we actually do.

I would also add that renting and borrowing equipment is a good way to sort out what you ultimately want to spend money on. For instance, you can rent a kayak a lot for the cost of buying one. But once renting does not become cost-effective, you’ll know it’s an activity you really like.

Thanks for the thoughts!

I am losing weight and when I am down to the goal I plan to use all the tips to plan what I will buy. I have plans to buy a good suit. I am trying to use all of my “stash” of yarn and only buy from garage sales.

I like applying per use cost to cars, furniture, and appliances as well.

Whenever I feel too attached to something that I haven’t used and can’t get rid of it, I make myself start using it.

Right now, I’m struggling with old toys my mother saved. My plan is to get rid of some, and display the rest. (I just have to figure out how to display them tastefully.)

Great post.

If everyone followed that rule Bowflex would go out of business. Along with Nordic-track, etcetcetc.

Great post!

(I also had to declutter the “friend” who makes shopping a competitive sport and teases those who won’t play along. That saved me thousands right there!)