5 Big-Ticket Items You Can Share to Cut Costs

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Source: http://www.flickr.com/photos/76657755@N04/

Many of us get in the habit of buying everything new (or new to us), instead of cutting costs by sharing expensive items. Especially if you have family nearby or close friends or neighbors who you trust, determining a way to share big-ticket items can save you a lot of money. There are a number of items you will only use once in a while, like tools, so you really don’t need your own.

You can also save money by sharing bigger items, like cars. Although some people feel uncomfortable asking to borrow things, if you have something you can offer in a return, this is a great way to save yourself — as well as another person with something to trade — money. Take an inventory of the items you have that other people might want, and then determine which other things you might need. Here are five items that you might consider sharing to get you started.

1. Tools

Unless you use tools for your occupation or you have your own shop that you work in daily, then you probably only use tools sparingly. While it’s a good idea to have basic inexpensive but durable tools around to fix house problems (think a hammer, pliers, utility knife, handsaw, tape measurer, etc.), you will only need most tools once in a while. Even if you want to have a bigger array of tools, you can still save money by sharing them with other people. You can also save money by purchasing only tools for your regular hobbies or work: If you like to work on cars, have tools around that will help you with your car, but arrange to borrow woodworking tools or other building tools that you only use sparingly.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business