SIMON BROWN: Two ways to get more for your money

I have written before about how I like buying for keeps — buying something that is maybe more expensive than the alternatives but will, hopefully, last forever.

One great example is cookware. We have some AMC pots my mother-in-law bought in the early 1970s that still work perfectly. At the time it was a big expense and she paid them off over two years. But here we are, 50 years later, and they’re going strong. We’ll probably be able to leave them in our will as they’ll outlive us.

The upfront cost is scary, and often just not practical. But over a lifetime you save multiples of the cost of the pot.

Another shopping trick I like is buying second-hand. For almost any hobby, such as music or exercise, you can find second-hand equipment that is much cheaper than the new article. The logic is simple: somebody wanted to become a gifted guitarist fronting a platinum-album band, so they headed out and bought themselves a guitar — and then got bored with the idea. Some years later, they finally admitted defeat and sold the guitar.

Often you’ll see sale prices that make no sense — they’re simply too expensive. But trust that tons of guitars are coming to market, and if you bide your time you’ll get a cheap one eventually.

This is true across all hobbies and general equipment needs. But there is reason for some caution: certain goods do age. Yes, a guitar could become worn, maybe even scratched, and still work just perfectly, but electronic goods tend to have a finite lifespan. Common sense is your friend here — as is first checking out what you buy.

The flip side is selling. My sister and her kids have been on a selling spree, getting rid of all sorts of things around the house. They’ve sold enough to pay for a short holiday for the family, all-inclusive.

They’ve used Facebook Marketplace for their selling. But exercise caution here too, of course. Meeting strangers with goods to sell or money to buy is risky. My sister has had no issues, but scams such as fake confirmation of payment are rampant. For the few goods I have sold it was either cash or PayShap. The latter is instant payment between local banks using just a mobile number — but it does need to be set up in the banking apps of both parties.

A last point about second-hand buying relates to cars. My trusty roadster was 15 years old last month and is going strong with just an annual service to keep it in top gear.

I know many like the new-car feel and smell, but you pay a significant premium for that. You can buy a late-model, low-mileage second-hand car with a service plan, and it will easily be 20% cheaper than the new version.

So, either try buy for keeps or buy second-hand, and save both ways.