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You can save 75% — or even more — when you buy these gently used items.

If you’re an avid thrift shopper like me, you know that every secondhand store has its own unique personality. Some stores are great for furniture, others for clothing; some seem to have the market cornered on books, and a few just seem to have older and more unique items than all the rest.Regardless of the personality of your favorite store, there are five standard items that you should always be on the lookout for in every thrift store. Here’s my not-so-scientific list of the top five items that offer the highest savings when compared with retail.

 

1. Shoes

If you can get over the mental roadblock of buying used shoes, it’ll do wonders for your budget. With decent-quality leather shoes ranging anywhere from $65 to $85 retail, scoring a gently used pair for $6 means you’re saving at least 90%. Focus on condition and pay special attention to soles and heels; avoid wear patterns that might affect your stride. Give leather some TLC with mink oil or shoe polish.

 

2. Belts

When did a buckled strip of leather with some holes at one end become worth $32? I’m pretty picky and my wardrobe reflects it, but I haven’t paid more than $4 for a belt in years. Sure, sometimes you walk away empty-handed. But if you’re willing to look and wait for just the right item, you can find great deals on all kinds of leather accessories like belts, wallets, and purses too.

 

3. Jeans

When I was a teenager, I saved for three months to buy a new pair of Guess jeans. I still remember the price back then ($40). Even in all their acid-washed glory, that seemed like an outrageous sum. Today, that’s a bargain price for an off-brand. Thrift stores are great places to take advantage of the growth spurts and fickle tastes of kids and pick up good-quality jeans for about $7. Deals on adult denim are easy to find too. It just takes a little patience, a few trips to the dressing room, and maybe a quick alteration.

4. Furniture

After you’ve been thrifting for a few years, strolling through most retail settings is like visiting a foreign land: You can appreciate the beauty, but you don’t understand what’s being said. Nowhere is this feeling more pronounced than in furniture stores. Spending $219 for a nightstand or $389 for an accent chair? What language are they speaking?

 

Last month I made a quick stop at a local charity’s thrift center and found a club chair and matching ottoman for $80. It was so new it still smelled like the furniture store that had donated it. All it needed was one small repair to the roping detail along the top edge of the ottoman. It took all of 10 minutes to make it look showroom perfect.

 

Check your local thrift store for lamps, nightstands, coffee tables, and bed frames. They can usually be found in perfect or near-perfect condition. Items in rougher shape can become weekend projects and get a second life with a bit of sanding and varnish or paint. Often the sheer quality of older items makes them worthy candidates for a salvage project. Look for quality markers like solid wood construction and dovetail joints.

 

5. Books

Even if you have an e-reader, sometimes it’s nice to hold a book in your hands. And thrift stores are treasure-troves of good used books. Retail prices for paperbacks range from $12.99 to $14; at most thrift shops, they’re 89 cents to $2.99. That’s a minimum savings of about 75%. Thrift stores in college towns and larger cities seem to have the quickest turnover in books and the best selection. Grab some coffee and stroll through their stacks.

 

Successful thrifting is all about being persistent, knowing what you need today and might need tomorrow, and seizing a good a deal when you find it. If you know the right categories to mine, thrift shopping can be a way to save some serious cash by avoiding retail prices on as much as you can whenever you can.

 

Do you focus on certain categories when you thrift shop? What’s the best deal you’ve ever scored secondhand?

 

Compliments of: Martha Small | Austin Portfolio Real Estate | 512.587.0308

Original Article by: Karen Datko

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When you’re in the market to buy a home, your credit score is very important. Most lenders use this three-digit number (which is created by evaluating factors like how much debt you have, your payment history for things like credit cards and car loans, and the length of your credit history) to determine your credit risk. This number helps lenders predict whether you’ll pay back your loans and if you’ll pay them on time.

Mortgage borrowers with the best credit ratings generally get lower interest rates. Their monthly mortgage payments are also lower, according to myfico.com, the website for the Fair Issac Corp., which created the most-used credit rating, the FICO score. (Your FICO score can range from 300 to 850; the higher your score, the better. Credit scores tend to be better for people who have credit — e.g., have credit card accounts — and pay off their credit on time.)

Generally, consumers with ratings in the mid 700s or higher get the best interest rates. (But this depends on the economic climate — 680 was once considered a good score.)

For example, when we last checked data made available on myfico.com, a person with a better FICO score (760-850) was able to get a monthly mortgage payment for a 30-year fixed mortgage that was about $41 lower than someone who had a credit score of 700-759, according to the website’s calculations. That person with the better FICO score would spend $492 less on mortgage payments over a year’s period than the person with a lower score.

So, if you can increase your credit rating, you could save money over the length of your mortgage. (We all like to save money!) But raising your credit score isn’t easy and takes time. (Like getting into shape, or sticking to a diet.) But if you keep to it and are diligent about it, you can increase your credit rating. Here’s how:

  • Check your credit report

    Keep tabs on your credit report by getting a free report once a year with freecreditreport.com (be careful of other scam sites). Go over it carefully, and make sure there aren’t any errors, such as a payment that was reported late that wasn’t, and mentions of accounts that don’t belong to you. Report any errors on the provided form.

  • Pay bills on time

    Lenders don’t like to see late payments — even paying bills just a few days after the due date can negatively impact your score. Not paying your bills on time will lower your credit rating. Also, the longer you keep paying your bills on time, the better your credit score will be.

  • Reduce credit card debt

    Work to keep the balances low on your credit cards — try to keep them well below your credit limits. Pay off as much credit card debt as you can, paying off the cards that are closest to their credit limits first. (Lenders like to see credit activity, but it doesn’t look good if it appears that you are stretched to your credit limits.)

  • Don’t open/close accounts

    Also, don’t open new cards while trying to increase your rating, but don’t close old accounts, either. (Both could negatively affect your score.) If you are new to credit, rapidly opening new credit accounts could make you look risky and will also lower your credit age. (Lenders prefer people with stable and lengthy credit histories.)

  • Use your old cards

    If you have any credit cards you haven’t used in a while, try using them again. By making charges on the cards that you took out a long time ago, you’re improving the age of your credit history and will look like a more reliable borrower.

 

Compliments of: Martha Small | Austin Portfolio Real Estate | 512.587.0308

Original article by: Trulia

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