Consider Renting These Five Things to Save Big Money

The next time you look at your must-have purchases, make sure you consider the cost and ask yourself if the item will benefit you long term, or if it can be rented instead.

Here are five things you can rent instead of buying to save some money:

Formal wear

Tuxedos and ball gowns are not something you wear every day. In addition, the cost of maintaining formal clothes requires you to spend several hundred dollars on dry cleaning alone.

The next time you have a formal event to attend, instead of spending a huge amount of money on your formal wear consider renting your ball gown or tuxedo. This will not only help you save money but will definitely save space in your closet.

Entertainment

It might be satisfying to display all your favorite movies or games so they are available anytime to your family and friends but honestly, how many times do you actually watch or play them again? Besides, there are many options to watch your favorite movies and play your favorite games just by renting it for free in your local library or using a paid streaming-services.

Specialized tools

When you’re a professional mechanic or craftsman, it’s best to invest in power tools as part of your profession. But if you’re only using it for a project or two, consider renting them at your local retail hardware stores instead.

Renting your tools will also give you a chance to try out different tools (without breaking your bank) to help you decide which tools you should invest.

Recreational vehicle

If you only take your whole family once or twice a year, renting an RV makes better financial sense compared to owning one. You will also save money on maintenance and expensive storage space.

Seasonal sports equipment

If your family or kids are heavily involved in seasonal sports like skiing, golf or snowboarding it’s best to purchase equipment, but if you are only going once or twice a season, consider renting the equipment instead. The resorts offer rentals and there are many stores that offers seasonal rentals as well, which work great for kids who may grow out of their equipment quickly.

Before you swipe that card or sign the contract, make sure that owning the item will benefit you in the long run.

At Clark County Credit Union, it’s our mission to help our members realize their financial goals and dreams. Check out our podcast, The Perfect Bite where we share budgeting tips and talk about other helpful financial topics.