How the Second-Hand Economy Can Help You Save Big!

**This post may contain affiliate links. I may be compensated if you use them.

**This is a sponsored post written by me on behalf of Kijiji. All opinions are my own.

Last year I took part in a #KijijiFind challenge and I managed to save just over $500 in three months. This was pretty impressive not to mention how easy it was for me to source baby accessories on Kijiji – the platform is consistently the #1 channel for buying and selling second-hand after all. Oddly enough, I’ve already sold some of the things I bought during the challenge since Scarlett has already outgrown them, so I actually ended up saving even more.

Since I’m a fan of Kijiji, I’ve partnered with them this year to explore different ways to save and earn money in the second-hand economy. I’ve been active on Kijiji for a couple of years now, so I can’t wait to share what deals I’m finding, as well as what I’ve managed to sell there. Saving money is something I love to do and I want to show you how easy it is through this partnership.

How the Second-Hand Economy Can Help You Save Big

What would you do with an extra $2,000?

According to the 2018 Kijiji Second-hand Economy Index Report, you could earn an average of $1,134 a year by selling second-hand goods. In addition, you can save $825 each year by buying second hand vs. new. That’s almost $2,000 back in your pocket! The question is, what would you do with that money?

Last year, my wife and I visited Portugal for less than $2,000. Heck, I just bought plane tickets to Europe and they cost us about $1,900. Think about that for a second. By using the second-hand economy, you could help fund an epic vacation. People are always looking for ways to save on travel, well here’s an easy way to do it.

Now, if I were to do something practical with that money – like invest it in my child’s RESP – that money would go a long way. A $2,000 RESP deposit would immediately give her an additional $400 thanks to the Canadian Education Savings Grant. If I took that savings and invested it every year until Scarlett turned 18 with an annual interest rate of 5%, she’d have $68,254.31 for her post-secondary education. Yeah, now you see why I’m big on saving money.

How I’ll be using the second-hand economy

My wife and I just booked a three week trip to Europe and one of the things on my wishlist is a portable crib. I’m specifically looking for a Lotus Travel Crib made by Guava Family. This travel crib is only available in the U.S., so I’m hoping it shows up on Kijiji before I depart. Scarlett will also soon be at the age where she’ll be outgrowing some of her stuff so I’ll be listing her playmat, bouncer, and bumbo seat eventually to earn back some extra cash and put towards these new second-hand finds. Fortunately, baby accessories are one of the top categories in the second-hand economy, so I’m feeling good about my odds.

More recently, I had some pretty sweet success selling some stuff on Kijiji. I unloaded some small office accessories that I no longer needed and was able to get about 50% of the retail price for them which was actually a few hundred dollars. I could have held out for a higher price, but I was looking for a quick sale.

I also started to list some collector’s items I have been holding onto. Some sports related memorabilia I had sold in just a few days. I may also put some of my old action figures up for sale, but I haven’t had the heart to do so yet. I’ve always found that even if you’re selling niche items if they’re in good condition, there will always be a right buyer willing to make an offer.

Final thoughts

85% of Canadians participated in the second-hand economy last year which includes buying, selling, donating, receiving for free, renting, and borrowing. I’ve witnessed first hand how I can make and save money, so I’m excited to be part of that statistic. Follow along on my blog and social channels to see how I’ll be using Kijiji and the second-hand economy to earn and save for the rest of the year! To learn more about the second-hand economy and how you can reap the benefits, check out now.

How the Second-Hand Economy Can Help You Save Big!

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter:@barrychoi

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