Sharing Daily Discoveries About Personal Finance And Business Topics

Sharing Resources or Group Buying With Others To Save Money

I don’t know about everyone else, but I remember when I was a kid sharing items and buying things in bulk-like sizes with my friends saved us a lot of money. For example, when it came to video games we always tried to not buy the same thing as each other because we could simply just borrow games from each other which gave us more variety while allowing us to save a lot of money. Even when it came to things such as buying snacks we would always try to see if we could get more for less by purchasing say larger items together and then distributing it evenly.

Now obviously as an adult things change a lot and there are some things where it doesn’t really make sense to borrow from each other all the time such as say one person buying a microwave and the other buying a grill with the two of you then lending them to each other everyday or so. That would be kind of silly. A more realistic example would be with things like say a video camera or a digital camera. It’s kind of amazing to see so many people buy these items only to use them very infrequently on say a special occasion or trip. I know the first thought is usually that you don’t want to inconvenience another person and so it might be better to just get your own say video camera, but in these types of circumstances where the both of you don’t use it 24/7 it can be a great way to save money together.

I’m surprised more people do not try to group buy items to save money as well. Everything from groceries to even electronic products, there is usually a deal to be made as a result of doing so as it gives you more purchasing power. Similarly for the company you are buying it from, in most cases the more that they buy from a certain vendor or supplier the cheaper they can get it for as well. In some cases too it doesn’t necessarily have to be for the exact same items but rather just the fact that you are doing so much business with them opens up room to receive some kind of discount or benefit. If you are trying to do this with a company that doesn’t normally specialize in say selling wholesale to the end consumer, then you may need to do a bit of research beforehand and try to talk to the people who help manage the business in general.

We all learned to share as kids and how combining your resources together can help you accomplish great things and the same can still hold true.

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