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How to avoid spending traps after bankruptcy

On Behalf of | Apr 21, 2017 | Bankruptcy |

While many of our posts focus on bankruptcy issues (i.e. discharging debts), we find it helpful to highlight some money saving tips that consumers can take advantage of so that they can avoid the need for bankruptcy protection. Indeed, there are a number of ways to save money that are popular (e.g. clipping coupons, taking shorter vacations), but arguably the most important way to save cash is to stop wasting money on retail items that can be purchased used.

Of course, many people know that buying a used car can save a great deal of money compared to buying a brand new car, but there are a number of used items that can be purchased that are nearly as good as brand new items.

Children’s bicycles – The price tag for a bike that a child will quickly grow out of may not be worth the price tag; especially when a bike from a consignment shop will be just as good without the steep price tag.

Furniture – The advertisements touting how interest on a new furniture purchase will be stayed for a number of years (usually 3 years) is tempting, but gently used pieces can be found at a fraction of the cost.

Computers – You may feel compelled to buy the latest technology, but it changes so quickly that a used computer or tablet may be just as useful as something brand new.

Video games – There’s a reason why most retailers offer buy-back programs when it comes to video games. The used market has become such a strong draw, that many people are forgoing new games in order to buy used ones cheaper.


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