It takes just a second to save cash
KEEPING up with the Joneses and buying the latest items is not at the front of Tamara DiMattina’s mind.
Instead, she saves money by snapping up everything from underwear to furniture second-hand.
“I will buy my undies (secondhand) if they still have tags on them – I don’t have an issue with that. I try to buy everything second-hand to extend the life of goods,” she says.
DiMattina is so passionate about her cause that she began Buy Nothing New Month in 2010 to show people how to save.
It’s not about going without forever or never buying anything new but just thinking whether you can borrow or rent, repair or even swap with a friend as an alternative to buying everything new. “People are funny about secondhand things – you use a second-hand towel when you stay in a hotel but people are funny about buying second-hand cutlery in an op shop,” DiMattina says. “I’ve got beautiful quality furniture but it’s all second-hand. I always try and buy from an op shop and I know the money is going back into the shop and the community.” Another tip she suggests is to keep a spending diary, where you note down what you’re buying to help manage spending.
The Australian Securities and Investments Commission’s senior executive leader for financial literacy, Miles Larbey, also says there are easy ways to avoid unnecessary spending.
“It’s a good idea to prepare a shopping list before you head out to the shops to help you stay focused and avoid impulse purchases,” he says.
DiMattina has a good eye for preloved items, whether online from sites such as eBay or Gumtree, or by visiting op shops, vintage shops and even auctions to snap up bargains.
“Take stock and think do you really need whatever it is that you are buying,” DiMattina says. “You can save a lot of money and have money to spend on valuable and
important things instead.”