Tuesday, March 10, 2009

Borrowing and Lending to Save Money

This week over at Tightwad Tuesday they're talking about borrowing to save money. The post talked specifically about borrowing clothes, but asked what you borrow or lend to save money?

I've never really been able to share clothes or shoes with friends. We just never had compatible sizes and/or styles. At this point in my life I'm not so sure about the whole sharing clothes thing. Maybe it's just me. If it works for you though, go for it.

For those of you that have been checking my blog for awhile know that I get a lot of free magazines. When I'm finished with these magazines I prefer to pass them on. This is a much greener option then tossing them or recycling them. Some of the magazines go directly to people who I know like to read them and others go to a magazine swap we have at work.

I love the magazine swap idea because everyone can benefit from it and so can the environment. We just bring in magazines we no longer want and leave them in a designated area (an empty desk). Everyone can browse the magazines at their leisure and take any that they are interested in. Magazines that are no longer making the rounds get recycled. Magazines swaps are a great idea that are easy to implement among your family and friends. You can get the benefit of several subscriptions without spending the money for them.

Another great item to borrow and lend is books. If you are anything like me and tend to buy books instead of borrowing them from the library, then you would do great to swap books with some of your friends with similar reading interests. I also take some books to a local used book store where I trade them in for store credit and get more books. That's sorta like borrowing and lending, right?

And don't forget about tools. This is another item that lends itself to borrowing and lending. Think about it, who can afford to buy every tool you would possibly need? Instead invest in a few and borrow the rest from friends and family if you don't need them regularly. I will say that everyone should have at least the basic tools in their house. You don't want to be running to your neighbors house every time you need a screwdriver.

These are just some of the items you could borrow or lend. The possibilities are endless. Just remember that you should not always be either the borrower or the lender. For it to be fair sometimes you will borrow and sometimes you have to be willing to be the lender.

For more Tightwad Tuesday tips and thoughts on other things you can borrow and lend, head over to Being Frugal.

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