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Should you Buy, Borrow, or Rent? Do you ever find yourself needing an item only one? Have you spent a lot of money buying things and not really get much use out of them? How about finding places to store unused or “just in case” items?
Even if you have space for them do you really need the clutter? Is the money better spent elsewhere?
So many people decide to buy things when they can simply borrow the same thing for free or a fraction of buying new.
Maybe the thought of asking another person for a “favor” is intimidating to you but hopefully, after reading this you will be more open tot he idea especially because there are ways to borrow.
If you borrow the item, you are saving yourself so much money and space in your home for things that you actually need to own. Listed below are some things that many people buy, but which would be more beneficial to them if they were to just borrow it.
BUY OR BORROW? 7 THINGS TO BORROW INSTEAD OF BUY
1. Borrow or Rent Tools
Before you buy a tool, see if you can borrow or rent it. Most tools take up a lot of space and cost a decent amount of money, so borrowing the tool from a friend may be the way to go (just be sure to return it in a timely manner).
Another option includes renting from local tool shops. Tool shops usually have an affordable rental fee. Sometimes they require a deposit but they give it back once you return the item.
If you need home improvement tools then Home Depot has a large selection available for rent.
Fixing your car? Borrow tools from your local auto parts store. Places like AutoZone has a free loaner tool program where you can borrow a tool and leave a deposit which gets returned after you return the tool. How cool is that?
2. Borrow or Rent Party Equipment
Before you think about buying party supplies and equipment consider the cost and whether you have the space to store the items after the party.
Buying party items like a balloon arch and tablecloths can save you money later if you have a few parties planned but consider what it is really costing. Linen is expensive and stains easily and requires maintenance and storage space.
Consider renting items like chair covers and tablecloths. They come ironed and usually laundering is included in the rental price.
If you have a small child and do parties for them each year then an item like a balloon arch may be worth the investment as it can be used multiple times and eliminate the need for helium as you can use just air to blow them up and attach to the arch.
Chairs and extra tables are also great items to borrow or rent since you most likely will not want to store them and it can be expensive to buy.
There are a lot of party rental stores out there that can save you money and tons of time and space in your home.
You may even have friends who bought items for a party they had and will probably never use them or would be happy to share them or sell them to you for cheap.
3. Borrow or Rent Special Occasion Clothing
Do you have a wedding or special occasion party or event to go too? Dresses and suits can be very expensive and a lot of times when you buy something for a special event you only wear it once. Why not borrow from a friend? Or try a fashion rental service?
Rent the Runway is especially helpful to those who have expensive taste as they carry some really high-end brands.
Other options are to buy thrift! Take a drive to your local thrift store or try out online services like ThredUp before you go buy new.
4. Borrow Books
Many people only read a book once, so why would you buy the book if you can borrow it for free or for a small fee?
There is likely at least one library located near you. If you’re looking for a specific book, your library is highly likely to have it. And if one library doesn’t have it, another one will.
If you haven’t already check out my article on getting free eBooks and audiobooks. I show you a great way to read or listen to tons of books for FREE!
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5. Borrow Luggage
Depending on how much you travel you may only need a suitcase or two once in a while. If you are a frequent traveler I wouldn’t suggest borrowing constantly but if you have a trip coming up that you need a suitcase consider asking a friend or family member to borrow theirs.
Many people are happy to share what they only use once every couple of years. Some may even have extra luggage that they bought as a set and never use.
Just be sure to bring it back in good condition and use a luggage tag so it won’t get lost.
6. Rent or Borrow a Truck
I don’t know how many times my husband said he wants to buy a truck to move things or to be able to go grab large items at the store but in reality do we really need one? I sat and estimated how many times we would actually need to use it and the answer was far and few between.
Certainly not the number of times that would justify a truck purchase. The cost of gas alone would really just kill the budget on this one especially if you are replacing a car.
Things to consider would be to rent a truck from a place like Home Depot which is very inexpensive or rent a Uhaul or other truck pickup rental service.
You can also ask a friend for a favor and then help them out when they need it or give them a little cash for the help.
7. Rent or Borrow Carpet Cleaners
If you have pets or really messy kids then buying a carpet cleaner may be justifiable but other than that how many times have you had to clean your rugs in the last 5 years?
I had my rugs professionally cleaned once and boy was I disappointed. I could have easily rented a machine from my local grocery store or Home Depot and did just as good or even better than they did.
The last time I checked Home Depot had Carpet Cleaners for rent for as low as $44 for a four hour rental. If you do all your preparations ahead of time then four hours should be plenty of time to get all your rooms done and get the machine returned.
They even had carpet cleaners for detailing your car which was around $15 for four hours versus a hundred dollars to get it professionally done!
Simply put, there are other options out there for you rather than buying an item that will only take up space and you may only use once. Be wise with your money and how you spend it. If you feel as though you need to buy an item rather than borrow or rent, do that but make sure you go over your options and do the math.
Think about whether or not you’ll use that item again. Also, think about what exactly you need it for. Most times, you won’t need the thing you’re thinking of buying more than once.