Everywhere you look people are finding ways to save money. A little here, a little there and it all adds up to a lot each month. Saving money means frequenting places and sites that can allow you to get what you need for a lot less money. The old adage ‘one man’s junk is another man’s treasure’ rings true.

Here are some activities and entities that are thriving in this economy.

Thrift shops

The local second-hand thrift shop has come into vogue again. Offering a lot of clothes, used household items and toys for kids are among the more popular items. If you watch closely you can find some good buys on electronic items like radios and CD players and the occasional computer. Also, furniture is an item that can surface from time to time. Major appliances are harder to find and are often snapped up quickly.

Garage and yard sales

This is where some real bargains can be found. The really good items sell out quickly so you have to know when the sales begin and put on your running shoes in order to capture the best things. But of the things that remain, you will find good used clothing and some household items as well.

Classified ads

Although not as popular, classified ads are a good source because they feature just one item for sale. Many times these are the bigger ticket items like appliances and vehicles.

Given the current economic conditions, demand is high for these things and supply can be short, so the down side is that you might find higher prices and less willingness to go down on prices. But it never hurts to ask.

Watch what you buy

Many times, things that are sold in this manner are not necessarily in good working condition. If you are handy you can sometimes fix little things that are bad and put them into acceptable working condition. Some things like car seats for children you cannot buy used because you do not know if they have been in an accident or have been compromised from a safety standpoint.

Sell some things yourself. Community or neighborhood garage sales are popular. Get your neighbors together and set a date. Then, take the opportunity to not only sell things you need to get rid of, but also do some cooking and/or baking to supplement the income. You will be surprised at how easy it is to raise several hundred dollars in just a few short days.

Be aware of what is happening in your community because sometimes there are large sales at local parks or armory locations as well.

Using these and other tips, you can save money on many things that you need for living.

Consignment shops are stores where people can bring in their used items (typically clothing and accessories) and let the dealer (the store) sell them. The dealer (the consignment shop) will then price the items and put them in the store for buyers to browse and purchase. The longer the items remain in the store, the lower the price becomes.  After a certain amount of time, if the items are not purchased, they are returned to the original owner and no compensation is given.  If the item is sold, a percentage goes to the owner and a percentage goes to the consignment shop.

The difference between a Thrift Store and a Consignment shop is that in a thrift store, the items are donated to the store to sell to turn a profit; or the thrift store might purchase items at very low cost and then turn around to sell them at higher prices.

Benefits for Consignment Shops during a Recession

Consignment shops do great business when consumers are feeling the strains of a poor economy.  More people are watching their spending and will visit consignment shops before shopping more expensive stores.  Additionally, consignment shops don’t need to shell out money for inventory since people provide the items in hopes of receiving a percentage of the sales if their items are purchased by someone browsing the store.

Benefits for Sellers

Having yardsales and garage sales are time consuming.  Many people prefer to simply drop off their used and no longer needed items to a consignment store and let someone else deal with the actual sales transactions.  They don’t have to sit around and wait for people to come in, and hope that someone buys their items.  They can just drop it off and the store will take care of the rest.

Benefits for Buyers

When times are tight financially, people look for ways to reduce their expenses.  After you’ve turned out the lights you’re not using, replaced the ones you are with compact energy efficient lightbulbs and turned your heat down – where else can you save some money to help stretch your income?

Consignment stores give people a way to still get something new, but without breaking the bank or going outside of their budget. When you need something, many times you don’t necessarily need to buy it brand new so it makes sense to pay less money for the items you need at a consignment store.