Another option when you need something: Borrow it. I’m not just talking about borrowing books from the library or a cup of sugar from your neighbor — I’m talking about the big stuff, too.
When you need a ladder or power tool, for example, check with your neighbors to see if anyone has one you can borrow. Tables for garage sales and family get-togethers can also be borrowed from friends, neighbors, or other members of your community as well, along with almost anything else – decorations, bikes, or even musical instruments. Of course, it helps if you’re agreeable to lending out your own possessions once in a while, too.
No one is using everything in their garage — like their table saw — 24 hours a day, 365 days a year. That’s the entire concept behind the “sharing economy” that has spurred fast-growing companies like Uber, Lyft, SPOT, and Airbnb. So before you buy, see if you can borrow. You can save a ton of money if you pull it off.