More Money Podcast - 105 How to Save & Make Money through the Second-Hand Economy - Kerry Taylor, Blogger at Squawkfox

Episode Date: April 26, 2017

I chat with popular personal finance personality Kerry Taylor from Squawkfox about how she got into the personal finance sphere and why she's a big advocate of the second-hand economy. Long description:   Kerry Taylor's blog Squawkfox was one of the first personal finance blogs I stumbled upon when I was starting my personal finance journey in my early 20s. And now, so many years later I got the chance to chat with her on the podcast all about her own journey from computer science student, to living in rural British Columbia, to moving back to her hometown of Toronto, to now being a constant voice in The Globe & Mail and CBC. One of the big reasons I really wanted to have Kerry on the show was because she has an awesome sense of style, but she doesn't break the bank to stay fashionable. She's a huge advocate of the second-hand economy, and it all started with trying to save money when buying clothes for her daughter. When she discovered that there were a number of consignment shops and Facebook groups dedicated to buying and selling quality second-hand goods, she got hooked. And pretty much convinced me (and you once you listen) to start taking advantage of the second-hand economy too! Thanks so much Kerry for chatting with me and sharing your insight and story with me! Kerry's Top Blog Posts How to get married for $239 Make a Starbucks Frappuccino for $0.32 The cost of collecting 6 Words That Make Your Resume Suck Follow Kerry on Social Join Kerry on Facebook Follow Kerry on Twitter Subscribe to Kerry on YouTube For more podcast episodes, check out the podcast page. Show notes: jessicamoorhouse.com/105 Learn more about your ad choices. Visit megaphone.fm/adchoices

Hello and welcome to episode 105 of the Mominy Podcast. I'm your host Jessica Morehouse. Thanks for joining me for another episode 105. I can't believe we're already here. And a few episodes to go before I wrap up this season and take my little summer break. But before I do that, I still have quite a few episodes to share, including this one where I interview Carrie Taylor, a very well-known personal finance personality here in Canada. You can find out more about her on her blog, squawkfox.com, which of course I will link to in the show notes, deskmorels.com slash 105. We talk a ton about her journey into personal finance uh what got her interested in uh you know

learning more about money and uh writing about it to share her expertise with everybody but also uh the secondhand economy she's kind of an expert when it comes to uh you know figuring out how to make money by selling stuff that you have in your closet, but also not just buying stuff that's new, buying stuff that's secondhand. What a concept. You know, things are becoming a little bit more, you know, kind of normal. Lots of people do that, you know, getting on Craigslist and Kijiji and Bunz and all these crazy things. So we chat all about how she does it to save money and kind of some tips along the way that she would like to share with you. And before I get to that episode, thank you so much to Wealthsimple for deciding to support

this episode of the podcast. Thanks so much, Wealthsimple. If you don't know, it's the fastest growing automated investing service in Canada. Wealthsimple uses smart technology to help you create and manage a diversified investment portfolio, saving you time and money. And if you go to WellSimple.com slash Jessica Morehouse, readers and listeners, if you want to get your investments on, I highly recommend WellSimple. Love them a long time. You can go to WellSimple.com slash Jessica Morehouse and your first $10,000 of investments will have no management fees for one year. And you'll want to take advantage of this offer before it goes away. So you have until April 30th to take advantage of this special offer. So make

sure to go to WellSimple.com slash Jessica Morehouse if you're, you know, trying to figure out how to invest your money uh well simple is one of the ways you can do it all right enough yabbering let's get to that interview thanks carrie for joining me on the show oh it's great to be here thanks jessica you are welcome um so i'm excited to chat with you because you've been i think you are one of the oldest and not by age. I mean, I mean, oldest bloggers in that you've started your blog back in 2008, which is a while ago. You're a very like a veteran blogger of the personal finance sphere. I know. But when I look at it, I don't see it that way. Because there were so many people before me. Yeah. So when I think of

like the veterans, I think of people like the Canadian capitalist, like he was like one of the first bloggers I would read or a blog that used to be called four pillars. That was another blog that I would follow. And it was usually just guys. Yeah. And, um, were you one of the first kind of women bloggers? I feel like in my experience, like when I started getting into the personal finance blogs, you were one of the like few female bloggers at the time. You know, I don't know. I think maybe I was one of the first to use storytelling and use like my personal stories. And I talked about, you know, girl stuff.

Like I talked about, you know, stuff that guys don't talk about, like, um, menstruation, the cost of periods. Like I went there, right? Yes. And I just kind of, yeah. And I just, I kind of taught, I didn't just talk about investing in ETFs and index funds and, you know, calculating your management expense ratio. Um, that stuff got me going too, but it's kind of like, you know what, there are costs everywhere. Yeah, personal finance is more than just investing personal finances, how much you pay for your rent, or how quickly you pay down your debt or your groceries, or how much you're spending on clothing, like everything that touches money, to me became my personal finance. So whenever I saw an expense that was a repeatable expense,

and it seemed like an unsustainable way to live, I would look for ways to cut that cost. So I became really, you know, really keyed into looking at like the kind of stuff that I would buy and then have to throw out. To me, that was really poor personal finance planning, because it's like all these products that are designed for the trash can. And I was like, well, that's my money. So I started looking at it from, um, from that perspective. And I just sharing those stories of the kind of adventures I would go in, um, you know, creating less garbage and buying less stuff and how that impacted my wellness or, you know, my bottom line.

And, um, I looked for alternatives too. So there was an expensive product in the market. I would try to make it for less. So that, that was my kind of brand. And that was like what I was playing with and it just, it was fun and it was different. So if people, if women connected with me, that's cool. If guys connect with me, that was cool. And I just kind of kept kept going because it was fun. I know. Well, I know one of the kind of blog posts that I there's two blog posts that I associate with you because they were very popular when they came out and they were very impactful when I remember reading them. And one of them was just like the simple one where you were comparing a Starbucks drink with one that you made and you're able to get the price down crazy and it looks exactly the same.

So that's kind of what you're kind of talking about is like, oh, wow, this is kind of maybe something people buy on the daily and they didn't realize if they can make it on their own, they could be saving like 80% or whatever. And the second would be your wedding, which costs like $300, which is mind blowing. Yeah, I mean, well, the, the, the, the, um, the Starbucks coffee Frappuccino thing, I was like, I think it was called like how to make a Starbucks Frappuccino for like 37 cents. And I basically, I was living in rural Canada and I went, I drove my little smart car to a Starbucks cause I wanted a treat and I couldn't believe that these things cost $4. You know,

now they're more, but I know I'm now I think they're like six or who knows what, but yeah. Well, and I asked, I asked the barista, I'm like, what the heck is in this thing? So she pulled out the ingredient list and I'm like, well, heck, I can make that at home. I bought one and then I, I, she gave me an extra cup and I'm like and I'm like busting home in my smart car before this thing melts and I break out like all my ingredients and I just start making one and my kitchen was a disaster because I really kind of made the first few that were awful but it took me a while to figure out how to make it delicious and I started photographing it and that darn post was so viral yeah it was um um, it was everywhere.

It was, I couldn't believe like I was huge in Japan for a while, but, um, and it was, it was cool because, um, yeah, it just brought in so many different eyeballs and it was fun because I'd never had a post that, that had like, like 250,000 views in less than 24 hours. It was like, holy crap. And then life hacker picked it up and then it just went huge. So yeah, that was fun. But the wedding one that was completely another organic thing. I just thought, you know, I live on a farm, I'm just gonna buy a secondhand wedding dress. I really I don't have enough space at the kitchen table to invite a whole bunch of people. And I just, you know, Carl and I just, my husband now, just thought, you know, we don't need a big wedding. We've been together for 10 years.

It's, you know, the gig is up. And we just kind of kept it small, right? We didn't need anything. We didn't need bridal showers or anything of that sort. So I just kind of went to Costco, bought flowers. I mean, I can't understand why people send thousands and thousands of flowers. I'm like, okay, I'll just get what's in season. I know.

Got a secondhand dress. My friends took pictures, so we had little cameras that they could use. They took videos of us, and it was really kind of fun. We did all the setup and takedown ourselves. We just use the kitchen chairs and move them from outside and move them inside. And we barbecued a salmon. Like it just, I don't know. It just, it's the way you do it on the farm, I guess. Yeah. And you just have people drop in and hang out and there were no gifts. So people didn't feel obligated and um people brought bottles of wine and it was it was really fun because there was no stress no mess and our biggest expenses were really um the wedding

license yeah and paying for the commissioner to come out so I think in all it was about five hundred dollars yeah um and my wedding dress was a silk secondhand gown I bought on eBay. And it costs about 100 bucks. Nice. And I put pictures of it online and showed people how I made my bouquet. And I thought, you know what, like, I don't understand why people feel they need to spend $35,000 $40,000 on this one day. Yeah. Because instead, Carl and I went on a really awesome trip. And, you know, you don't need a bubble machine to get hitched is what I'm saying. You know, all you need is a wedding license and a commissioner. And after you have those two things, the bubble machine doesn't matter.

That's all you need to get married. So it just seemed everything beyond the certificate and the commissioner just seemed like too much. Yeah. So, um, yeah, we're still married and bought a house and full and, um, life goes on. Yeah, no, yeah, clearly no regrets from the, uh, frugal wedding. And from the people that I have, I mean, I've never, you know, encountered someone who's like, I wish I spent more on my wedding. You know, it's like, no, everyone's like, damn, I wish I spent less. Yeah. Yeah. Most people are regretful of spending that much, especially if they get de-hitched, or decoupled or forced or separated, right? They're like, man, I wish I had that money. But I've never regretted spending so little. And I've actually had a number of people leave really dreadful comments because they're like, you used Facebook to invite your

friends to your wedding. And I'm like, well, yeah, they're all kind of nearby and local. It didn't seem like a big deal. We're all on Facebook anyways. You know, it's not like my invite went viral or anything. Yeah, exactly. Who cares? People drove up to the farm and, you know, like it was pretty cash and it was fun because people just kind of let loose. We had croquet and I don't know, we just hung out with the, on the farm. It was beautiful. Exactly. Yeah. I feel like no one ever regrets underspending. No, exactly. Exactly. I've, you know, I, I tried to be as frugal as can be for my wedding, but I still spent $15,000. And that's like, even thinking of that number of like, that is so much money for one day, one day that went by in a flash one day where it's like, I didn't even have time to have,

you know, have a bite of the wedding cake. Cause it just went, it was just so busy and crazy. So I know, I know I'm still bitter. I think major expenses though, right? I know. I know. I'm still bitter, I think. But what are your major expenses, though, right? Your major expenses are probably food and space. It was food. Food and booze and the venue. Yeah, that's what did it. That's what did it. So it's like, you know, and we had 75 people. And it's, you know, the more people you have, the more expensive it's going to get.

So basically, everyone I encounter that they're thinking of getting married or they got engaged, I'm like, you know, elope. Or do something very small. Because you will, you know, and then just, you know, elope or do something very small because you will, you know, and then just, you know, yeah, like go on an awesome honeymoon or trip after or put that towards a house or, you know, your first place together. I mean, so many better ways. I think I made a comment that the more like the cost of the wedding itself is really, the more people you invite, the more expensive it's going to be.

Because all of a sudden then you need like a bigger venue and more food. And then for some reason, women need a bigger dress. So like the bigger the venue, the bigger, the more people it's like, oh my gosh, I need like a bigger showier dress. So I always say, you know, if you can, if you can limit the guest list, you're laughing. I know. Absolutely. I think that's key. The people who want to come won't be laughing yeah I I dealt with some really

sad family members and I'm like hey man you've met Carl you've met me um you know we live in rural BC you'd have to fly yeah you know 10 hours to get here so it's like um why don't you just come visit and there'll be no pomp and circumstance it It'll be fun. We'll take you on a ride. It'll be all good. Yeah. So one thing I'd love to pick your brain on. Yes. Wedding and Frappuccinos. But you mentioned hay rides. So you lived in rural BC. Um, and now, but now you live in, you know, the hustle and bustle of Toronto what is that like and why what what made that uh change for you to I mean that's a big lifestyle change um what's it like and do you like Toronto well it's actually I'm from Toronto oh are you I thought you were always

from Vancouver no I know I move around see home is wherever I home is wherever I rest my head. But no, I lived in, I was born in Toronto, lived in Toronto, raised in Toronto, moved to Ottawa to go to school. And then I got really bored. I wanted to go back to school, but in British Columbia and met a boy who I really liked. And it was his fault that I moved from Vancouver to rural BC because I liked him. Yeah. So I followed him home. And, uh, and that was Carl. So, um, he was raised on a farm, a cattle ranch. And we thought, you know, the price of, of real estate in Vancouver was going absolutely bonkers. It boggled my brain that it would have to cost, you know, $750,000 for a fixer-upper.

It's even more now. I know. It's insane. But we did the math. And with our computer science backgrounds, we realized we could make something work in rural BC, brains together and, and eke out an income. And we bought a house, um, you know, with our savings because we were so diligent and careful with our money when we lived in Vancouver. Um, I mean, we rented a, um, a garden level suite. We didn't really, um, we didn't have automobiles. We rode our bikes everywhere, took the bus. And, um, I don't know, we didn't

really have anything expensive we wanted or needed. We just, you know, took our city savings and, you know, put it aside. And with that, we bought a house straight out in rural British Columbia and, uh, we still own the house now. But ultimately what happened was, um, we became parents and, um, and I just felt the need to move back to Toronto. I, I miss, as you said, the hustle and bustle of the city. And I'd been in rural BC for close to 10 years. So with my blogging business, um, I was constantly asked to do, um, media. And I'd always have to turn it down because well, we didn't have ISP to internet. And because in rural BC, you just don't have it. Yeah. And, you know, I thought, you know, this is, you know, something I'd like to try and

something I'd like to do. And my husband being a computer scientist, you know, it's easy to get a city job in tax. So it was really easy for him to land work. So we just packed up the kid and moved east. And rent, we're basically homeowners who rent. So we leave, we kept our house and we just moved to Toronto and we rent, you know, a little semi and life goes on. But it was kind of a culture shock at first because I wasn't used to being around so many people. I was used to being like, OK, there's a bear today. Better not cross the street.

Oh, someone left the fence open. All the cattle got out. OK, let's round them up. Oh, better left the fence open. All the cattle got out. Okay, let's round them up. Oh, better be careful. Cougar sighting in the area. Oh, my gosh. That was the kind of stuff I would come across. The day I woke up and had a moose in the backyard, that was really eye-opening because it felt like I was in prehistoric Canada.

If you've ever seen a moose in person, they're really strange looking beasts. They're huge. They're huge. And with this long head and they just, they look out of place. They look like a prehistoric beast. So at that moment, I said to Carl, I said, you know what, like the bears knocked over the freezer outside. I have a moose out back. I have bears in the front. I got a cougar on the patio. Um, I think it's Toronto time. I think I've hit all the wildlife I need to see now. I think it's time for Toronto. And that was, it was really strange. And what else really hit me was all the stores. Um, even though I'm from the city, there wasn't as many storefronts and big city malls as there are now. It seems like every corner you turn, there's another strip mall or another, um, big box discount store, um, or,

or a luxury mall or what do you call those outlets? Outlet shopping is so big now. I was like, what the heck is outlet? It's a place you got to, you drive there, you go in, you buy, you know, crazy stuff, you leave. It just, I was like, wow, no bears here. But I think that was the biggest shock. And the first month I came back, I basically, um, I went to the Eaton center and just walked around and I'm like, wow, I wasn't used to seeing so many stores because for me to go shopping, I had to drive an hour and a half to get to the nearest mall. And, uh, you had to really want to shop to drive that distance. So, and generally we shop to drive that distance.

So, and generally we would only drive that distance and go into town if we needed, you know, kids supplies or groceries. So I think that was really an eye opening change for me. And I just couldn't believe how much stuff there was. Yeah. So much stuff in demand to take your money, basically. Yeah. Ads everywhere. stuff in demand to take your money basically yeah ads everywhere and I just I wasn't um attuned to that anymore because that noise doesn't exist in rural BC so getting accustomed to that

kind of visual noise um it took a little bit out of me because it was just you know even though I'm from here I still wasn't used to it so um, um, I think that was really eyeopening. And I think I spent a couple of days just watching people shop, which sounds really strange. If you write about consumer stuff, it's fascinating because it's kind of like, um, animal planet. Like you watch people around like expensive purse section in like, uh, I don't know, Saks Fifth Avenue. And you see them, they hunt and look at purses. And I'm like, uh, I don't know, Saks Fifth Avenue. And you see them, they hunt and look at purses. And I'm like, wow, that's a lot of time devoted to like a piece of leather. But you know, that's, that's, that's what they love. So, you know, but it was just fascinating for me to watch it because I've never seen that before, you know, but you know, so that from a kind of a, um,

a farm to city perspective, that was a shock, but I mean, moving from the city, like Vancouver to a farm, that was shocking too, because it was so quiet. Um, and it was, it was a real adjustment, not having things at your fingertips. Like I couldn't just go and grab a coffee. If you didn't have coffee in your house, there was no coffee. You'd have to drive and get it. So it was a lot of planning and really careful grocery shopping you had to do before you left the house and went to town so that you didn't forget anything. So it was a really, you know, things weren't convenient anymore. So living without convenience became okay. You know, it was okay that everything wasn't there. You just kind of learned to make do with,

you know, having no milk today or not enough laundry detergent. Oh, well, going into town next week, put it on the list, you know, laundry, we'll have to wait another day. You know, and stuff like that. Yeah, it sounds like a nice, simpler life. Do you ever kind of miss it compared to now living in the city because when you kind of describe that that sounds kind of like heaven like even the going without of some things like that sounds kind of nice well it's it's different though I mean it's so quiet um you don't have the buzz of the city and it's so dark because there's no street light so you have a lot of stars that you can see and it sounds really great. You go for a walk and it's like, Oh, there's the

bear. You know, like it's, it's touch and go. Like it's a different kind of lifestyle. Um, I only had, I only wore like jeans and plaid shirts and shorts and stuff when I lived out there. So when I came back to Toronto, all of a sudden needed clothing, which was a real shock to my system because I hadn't bought like, um, work clothing in like 10 years. So it's like, Oh my gosh, I go into like a banana Republic and I'm like, I can't believe a dress costs three to $400, you know? And that's like the regular price. And I was like, are you kidding me? This is a cotton dress. So that was a shock to my system. But it seems like like because you do have a really good style it seems like you've kind of figured out a way to you know keep up with city uh style but

you seem you've embraced kind of the secondhand economy which i i think is really awesome and it's also becoming a lot more popular because people are realizing oh this this makes sense why do i have to buy everything new? Because I always, whenever I see you, I'm always in awe of your outfit. It was like, how did you get that? That looks really nice. Well, this is the thing. So I had to start from scratch because all I had were jeans and t-shirts, which were fine.

And I actually, when I did TV and stuff, I would just wear jeans and put a blazer over top. But eventually it was just like, I think I'd like a couple dresses. So in the city, I started noticing all these consignment stores. Are you still there? Yes. Oh, good. There you are. Okay. I'm here. I'm going to lose you on the secondhand economy. Because people usually, when I do a speech and I say everything I'm wearing is used, people always sound so shocked they look at me with these big eyes like are you kidding me everything you're wearing a second hand like yeah

and it was something I really discovered when my daughter was little because I couldn't believe how much kids clothing cost it would be like if you go into baby gap it would be like 27 37 dollars for a pair of baby jeans wow and I'm like are are you kidding me? So, um, I would start venturing in thrift stores like value village or Goodwill or any of the local kids stores that were geared towards secondhand kids gear. And I would just stock up because it was, um, a savings of at least 80% on the garments. A lot of them still had tags on them. And even if they had a stain or two, I knew my kid was going to destroy it anyway. So it didn't matter. We bought our stroller secondhand. It cost a 250 bucks for your basic Bob stroller has the big

wheels. It went over cattle guards really easy. And in the city you look like a bit of a bad arse with it. And I sold it for $250. Nice. So it was a wash, really. I basically had access to a stroller for three years until my kid didn't need it anymore. So when you have a kid, it became a really good entry point for me to really venture into the secondhand economy with clothing and then kids' toys like bicycles, cribs, as long as you check for recalls, you're fine. And it just was became a really thrifty way to spend the right amount of money I felt comfortable with kidding out my kid for less. And I mean, she didn't care that she was wearing secondhand pants. Of course,. She was just happy that they were pink. Right. And snowsuits. I mean, if you've ever gone to a store and see the price of a snowsuit,

it's shocking. So like, I know it's like some stores sell them for $75, $80 for a frigging snowsuit. And they'll wear it one year, right? Yeah. If even that, right. Sometimes depending on your kid growth, it'll grow out of your, the kid will grow out of the snowsuit mid season. Oh my gosh. And I've had parents struggling to find a second snowsuit or a second pair of boots or the kid loses something. I mean, kids lose stuff. I don't know how my kid once came home with one boot, but she did. And I had to go through, I know I'm like, you're costing me a fortune. I had to go through the kid's lost found to find her boot. So it's these sort of things that make it really easy just to go secondhand because you know, they're going to wear it a short time. If they destroy it,

it's not so bad. And then you can resell it on the secondhand economy as well. So basically, after kidding out my kid and secondhand clothing, I thought, well, what's good for my kid is good for me. So I love shopping the secondhand economy for her so much that I shop there myself. And I discovered in the city all these really high-end consignment stores for women. And I was like, are you kidding me? This is really high-end stuff. Like labels were like made in like Italy and France with names like Dolce & Gabbana. You know, like all the high-end

stuff and the fabric. I would touch the fabric and I'm like, well, this feels better than a mall dress. And it was the same price. It was 300 bucks. And I'm like, well, why don't I just buy the secondhand dress made of wool and silk rather than spending on the cotton dress that doesn't feel as nice against my skin. And the thing is a lot of these higher end garments, um, they're cut better. So they look better on you. And I think that's the secret when you buy something that has good fabrication and good construction, it just looks, it looks better on the body. It does. So I guess that's why I look kitted out because it's the dress. So I feel like I need to, yeah. It's not me.

No, I love that. Because honestly, I didn't know that there, I really had no concept of these kind of designer consignment stores. I didn't know that even existed because I didn't know anyone else that did it until I met you. I'm like, oh, maybe I should check

some of those places out. That's a great idea. And there's so many of them. And like, it boggles my brain. I go in there. And I see all this really high end clothing. Some of it's unaffordable. Don't get me wrong, like some of its thousands of dollars, but some of it still has tags on it and it's a couple hundred bucks. Wow. So you've got to pick and choose and find your sizes. I mean, there's usually only one of each in every store. So if it's a little too big, then you can get it sized down, which is easy. And sometimes if there's like a good hem on it, you can let it down or you can, you know, get it taken out. So it depends on the fabric, and sometimes it's luck.

But if the consignment store owner gets to know you, she can visually match you to her consignees and consigner so that if someone brings in stuff that she knows is going to fit you, she'll call you up. So that's where I look at it as well. Oh, I like that. You develop relationships, right? And the secondhand economy isn't just like the local consignment stores.

I've done this online as well. So Facebook buy and sell groups are huge. And they're local to you. So I go online. You've got to need to look in your area. So if you're in a rural area, find a buy and sell group local to your area. Because then you can just meet people in person and exchange the goods for the cash. Bigger cities, it's easier. But the thing is, I find secondhand economy just as vibrant in rural BC as it is here in Toronto. And that's because

there's less choice for shopping in rural areas. So people are more adamant about selling their stuff for cash. So people perceive they save around $500 a year by going secondhand. And that can range anything from clothing, kids gears, electronics, like televisions, and off-road vehicles like snowmobiles. That's really big to sell in Canada. And people will sell their goods and they earn about $800 a year just by offloading what you already have. So again, you know, my kid's stroller would have been 250. Um, you know, I've sold some snowsuits. Some kids shoes are huge. I can't believe like the value I get back from kids shoes if they're not too scuffed up. So, um, Facebook's a really great place for that.

And some of the Facebook groups are specific for kids. Some are specific to high-end fashion. Some are specific to electronics. So read through the group first, make sure it's a good match for you. And if so, you probably need to request to join because they don't want just anyone spamming the group. They want to make sure that, you know, you want to vet you. So it's a safe place and see what other people are posting. And I find when I, when I go to buy stuff, you need to get on there quick. Cause if you're first, you're going to be first in line to buy that good people line up afterwards and say second, third, fourth. So if the sale falls through for the first person, the next person on the list gets the good. And I've even seen like

auction style things happening. So I put my, you know, and that's good for the seller, right? So I put my kids, you know, snow pants online. I'm like, Hey, anyone near need a size three T snow pant? And I, I said, give me your best offer. And then people just started like offering me money for these pants. And I'm like, okay, I'll take the $15. Thanks. And that doesn't sound like a lot, but if you sell a couple pairs of shoes, jeans, kids, snow pants, all of a sudden you have your budget for the next season's clothing with your kid. So you can kind of recycle your cash that way. So it becomes not only an economic viable thing to do, but it's really ecological as well because you're not going out and buying new stuff all the time. You're reusing stuff within your community. And I build relationships with other parents who I buy and sell with as well. And also other women. So I've

resold some of the dresses I've worn and they watch for me and they know their sizes. And when I put a dress online, they come and buy it from me in cash. So, um, it's a really cool way to just kind of create your own little economy because once you've done it enough, you vet who's safe and who's going to buy, um, you know, who's not going to try and lowball you too badly and you work it accordingly. So Facebook's great. Local consignment stores are great. eBay, it's kind of hit or miss for me. I found some good deals. But again, if you live in Canada, you've got to pay to have this stuff shipped here and then you go through duty. It's a bit of a pain in the butt. But if you live or have a mailbox in the United States, there's really

big consignment stores for clothing. One's called the Real Real. And there's a lot of amazing high end stuff there. And they they vet it to make sure it's authentic. Oh, nice. And there's one in Europe called the Vestiaire Collective. And they have a lot of stuff that you can't buy here in North America. So more European brands, access to certain things that were never available on our market. So a lot of, um, I guess the Dolce & Gabbana type stuff, um, uh, British designers like, uh, Victoria Beckham, um, you name it, it's there. So secondhand purses too, if that's your thing and shoes. So that's basically how I kitted out my wardrobe. I just went all secondhand. And, um, if something was too big,

you take it to tailor and get it altered. And I think that's the other secret that people, you know, they expect everything off the rack to fit. And I don't know anyone that fits off the rack. If you're the person that fits off the rack, email me. I want to know what you look like. But, um, cause I don't know anyone, you know, men get their suits to fit them, right? They go to buy a suit. It's alterations are just part of the package. And yet women don't seem to do that. But the clothing will fit so much better if you, you know, if you get it tailored just

to fit you. So I think that's the other tip to make, you know, a less stellar dress look amazing is to pay that couple extra bucks and get it to fit your curves. Absolutely. So I think, you know, and I think that's it. But I find with going secondhand is I can afford to buy higher quality goods for less money. And it's, you know, I feel good because it's sustainable. When I buy a higher end good as well, it's easier to sell it later on

because people want the quality fabrication. And, you know, they're willing to pay for the brand name. you know, and that works for kids gear works for my clothing. Um, it works for, uh, sports equipment. So I was a competitive cyclist. I was able to resell my, my bicycles, you know, it works for that as well. Um, so yeah, I'm, I'm a huge fan of the secondhand economy. And I just, when I go into a mall, I feel really shocked because I'm not used to seeing like 10 dresses, the same pattern all lined up on a rack. Because if you go into a consignment store, it's just one of each type, right? So, but yeah, basically if you buy higher quality goods, it'll last longer.

You'll feel better wearing it or using it if it's a gadget or, you know, a bicycle. And I just feel like it's better value for my money because I would rather, you know, wear something that feels good and looks good than something that is more the fast fashion or disposable garment that you see at like the fast fashion retailers and I think a lot of women spend a lot of money on fast fashion and you know and when I go into like a value village I see a lot of the fast fashion you know on racks and it's not selling because no one wants to rebuy it yeah so I think that's a huge loss you know you you buy and it doesn't last like you put it through the washing machine even if you hang it to dry the fabrication still warps and you know it's I feel like I've wasted my money so by spending a bit more on quality um I'm happy you know so I think that's the secret that is the secret sauce

for sure yeah I think so you know it's furniture, cars and trucks. I've bought and sold cars on Kijiji. I really do like Kijiji. I always say to people, if you're going to use Kijiji or Facebook, make sure you use like the messaging apps and you don't give away too much information about yourself personally. Yeah. And I always meet, you know, someone in a public place when I do stuff on Kijiji, usually at a subway station or something, just to be more safe. Because you never really know, right? No, exactly. Yeah. No, my husband just bought a used, he wanted to upgrade kind of his laptop. So it was a more powerful laptop. And he found one on Kijiji and he met the guy at Eaton Center.

And it was a more powerful laptop and he found one on Kijiji and he met the guy at Eaton Center and it was fine and he's like yeah it was a bit dented but he tested it out with the guy and made sure it all worked and he loves it and it was so much cheaper than buying it brand new from the Apple store so and yeah I mean yeah I just I can't I can't understand not going secondhand first and if you're stuck and you need something, then, you know, go the firsthand economy. But, um, people seem to think, you know, that the secondhand economy is gonna, you know, kill the firsthand economy, but it doesn't. Cause if you're the person selling your, your television, you're looking to get the money out of your used television to buy a new one, right? Like that's generally how it works. So basically you just made a television that's perfectly usable, affordable for someone else, you know, like me. So, um, so yeah. And

I mean, you gotta be careful with taxes. If you go into business buying and selling stuff, you know, then tax becomes an issue. But if you're just a small buy and sell, you know, drop off on my porch type deal, um, you're good to go. Nothing there as well. Yeah. Have you ever had experience? I don't know if you have, but cause I actually haven't tried it out, but have you ever tried out buns where it's actually more, it's just a straight up trade situation. There's no money involved. I haven't tried it yet. Um, I have a friend who like trades like her clothing for bottles of wine amazing yeah so she's like yep um sold my skirt for wine and I'm like okay whatever floats your boat I know yeah it's a whole different world

buns yeah but it's to me it's kind of like buns is kind of like the farm economy. Yeah. When I lived on the farm, people barter and trade goods and services. So time. So for instance, when we were plowing our field, bringing in the alfalfa for the cattle and the horses, you know, we'd have the equipment, but we needed someone to drive the truck. So, you know, the guy next door would come and drive the truck to haul the afalfa stacked away, the stacks of afalfa away. And then we would go over to his field and farm with him. So that's kind of like a personal bond. You're like, well, I'll exchange 10 hours units of your work if you, you know, if I can exchange that same amount of work for you. So people do that or equipment. Like if you have

a certain tractor and other farmer needs, um, then you exchange that good for something else. So maybe the farmer will say, okay, I'll give you 88 bales of hay if I can use your tractor for three hours. So, you know, like this whole sharing economy has been around forever. We just didn't use social platforms to do it. We'd meet the person next door and say, Hey, can I have a cup of milk? Yeah. Right. So basically buns is like, Hey, do you have a bottle of wine? I have a skirt, you know, it's, it's, it's facilitating that conversation in a, in a very different way. Um, you know, we're not as friendly with our next door neighbors as we used to be. And it's hard when you live in a big apartment complex, too.

So it's a really cool way to unload that skirt if you're looking for, I guess, some liquor. But yeah, but you haven't tried it. I haven't. My husband has. And he has lots of friends. He has lots of musician friends that find it great to upgrade gear so if you find something that people are maybe undervaluing you'll be like oh I'll trade you this piece of gear for that piece of gear and then they kind of use it to kind of like up and up and

eventually they can kind of start from one small piece of gear to like a really high price piece of gear just by trading up which is pretty crazy it's a whole different thing going on there, but, uh, pretty neat. Yeah, I know it's gear, right? Well, my husband does ham radio. And so he started off with like an introductory radio, but you also need receivers and antennas. And I mean, I don't even want to tell you what it is in the backyard, like sending signals. I don't know. See, I don't get it to me. You do broadcast, right? He just wants to collect signals all over the world. But yeah, he started with, you know, secondhand radio and traded up from there. It's the same sort of deal. So I think if you have a niche hobby or, you know, interests that you do that requires equipment, secondhand economy is great for that because you can get your feet wet

with entry-level gear without paying retail prices for it. I guess the same would be the same if you have a kid who wants to try hockey. You don't have to buy all the hockey gear new. I look at parents who go to the sports store and buy skates and sticks and hockey equipment and goalie equipment. I'm like the, the secondhand kid store down the block has like goalie gear. Why don't you try it on there? Right. It's like 75% less. So if your kid isn't sure they're going to like the sport, you can buy it secondhand, like soccer shoes. I mean, I played soccer as a kid. Soccer is a fairly frugal sport to get involved in, but you still need cleats. Um, yeah,

get your shin pads new cause those are stinky, but, um, you know, like there's a lot of different ways to do it. And I think if you just, you know, go on a buns or go on Facebook or, you know, sleuth some of the local consignment stores and ask the store owner, it's like, Oh wow, I, this is, you know, your your market do you know where I could find this they all know each other yeah all the consignment stores know each other and they all have their own niches and they all you know um frequent other people's stores and they kind of sleuth and check it out to see who's more competitive right so they know everyone and they know if you're not gonna buy something there and they direct traffic elsewhere, you know, that's going to come back to them, you know, with the storekeeper, you know, sending stuff back.

So people back. So ask. I think that's something we're really shy as Canadians we don't do. We're like, hey, I came in here looking for soccer gear or hockey gear. Where can I find that? Or I'm looking for this amp or I need a cool radio or a new television or laptop, you know, people know, people know, people, people know, and they'll share it, you know, and they'll, they'll help you along. And I think if you just, you know, ask the question,

it's like, Hey, Oh man, I love your store, but I'm looking for this. Can you put me in the right direction? People want to be helpful. Um, and you know, the same thing is like, if someone shows me something that's gorgeous, but I just can't afford it, I tell them, I'm like, this is the most gorgeous jacket I've ever seen, but it's so out of my budget. What else do you have? You know, and you move from there. So there's no ill feelings, you know, and maybe if they don't have anything in stock because it's a consignment store, if they get something more in their budget, you leave your number and they call you, you know, that's, that's another way to do it. So yeah. Yeah. Wow. How is that? You,

you've inspired me to like, definitely start sleuthing online. That's for sure. And I'm sure you've inspired a lot of people listening to do the same because I think a lot of people just don't there's no there's a lack of awareness people just aren't they they aren't aware they don't know so you are living proof that uh you can you know buy some awesome stuff for 75% off and then sell it I mean I found a nice couple and I just gave them my kids crib for free. They came off Kijiji. They met us. It was like a, an Ikea crib. It cost us like a hundred bucks. And I tell you, like people get all like ramped up about buying an expensive crib, but I'm like, the crib is the most expensive piece of furniture your kid will chew on.

Yeah. Because when they start teething, they chew on the crib. So I said, there's some chew marks on this. Um, if you like the crib, I can give it to you for free. I like you guys. Um, and I threw in all the bedding and I was able to offload all this stuff I no longer needed. And it felt really good because I basically free cycled it. So, um, you know, I created space, helped out a nice young couple and, um, got rid of the stuff I didn't need anymore. And that's like part of the battle, right? If you've got a growing kid, they grow out of stuff. You all of a sudden have like kids stuff you don't need. Um, yeah. So yeah. Secondhand economy, make it your first economy. I love that. And then buy my kids gear.

It's Google. I like that also. That's awesome. Well, find me online. You should have that. You should have a little buy and sell section of your website. Just be like, FYI,

this is what I'm, you know, buying and selling. Yeah. Well, thank you so much for enlightening me and everybody else about the secondhand economy, something that I hope becomes more popular and more common in the next few years, because I think it's amazing. Not only is it, you know, a kind of a financially responsible thing to do, but also environmentally friendly and, you know, helps the economy and everything like that. So I

appreciate you taking the time to chat with me. And I feel like we could probably talk for another half an hour but let's just yeah but I I appreciate you taking these uh 40 minutes uh chatting with me it was fabulous as always my pleasure and that was episode 105 with Carrie Taylor make sure to check out her blog squawkvox.com or follow her on twitter at squawkvox and of course check out the show notes I'm going to put some information about stuff that we talked about in there. All you have to do is go to JessicaMorehouse.com slash 105. Super easy. And of course, as always, big thanks to Wealthsimple for supporting the Mo Money podcast and sponsoring this episode of the show. Thank you so much. And in case you aren't aware,

WellSimple is the fastest growing automated investing service in Canada. WellSimple uses smart technology to help you create and manage a diversified investment portfolio, saving you time and money. In other words, they are one of the most popular,

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with no management fees for one year. None for one year. So make sure to go to WellSimple.com slash Jessica Morehouse to take advantage of this special offer before it expires. And before I go, I've been lucky enough to get some podcast reviews. Thank you so much, guys, for giving me some reviews. All right, the first review I have is from Jenny Jen 55 from Canada. She says, Hi, Jessica, I absolutely love this podcast. I cannot get enough. I've been listening to all the episodes during my spare time. I love

the topics covered. The questions you ask are great. And the guests you've had seriously got me thinking about the details of my own personal finance journey. Keep it up, girl. Jenny, fellow personal finance geek. Well, thank you, Jenny, for the review. I appreciate you. And I hope you enjoyed your shout out on this show. Another one I got from the US of A, Anurag4343 says, I love Jessica's podcast. Simple and not filled with jargon yet drives a point home. More power to her. More power to you, Anurag4343 from USA. And one more before I go from Colbrand Flakes from Canada. I started listening to this podcast three days ago and I am hooked. Working as a value engineer in London, Ontario, my job is quite literally to save my company money, but I have been struggling with my own school and credit debt for three years

since I graduated. Feel your pain. Feel it. After listening to this podcast and reading more about managing personal finances from people like Gail Vaz-Oxlade, I become seriously motivated to get in control of my debt. The variety and insight's to get jessica and her guests discuss is eye-opening and you are sure to learn something of value each episode keep up the good work jessica and hopefully in six to eight months after i've been successful at paying off my debt i can come on as one of your listener series episodes absolutely for real i would love to have you on the show and if you uh listening right now would like to get a special shout out from me on a future episode it's super easy all you have to

do is leave me a review on itunes takes you two seconds but uh it will be pretty awesome once you hear your name and your review just saying um and uh that's really it for me. I am super excited. I'm taking a much needed vacation this weekend. Me and the HB are taking a few days to literally unplug. We're going to try not to look at any of our devices and just like play cards, drink some wine, watch some movies and chillax. So I hope you have some plans to do the same soon because you're awesome and you deserve it. All right. I will see you back here next Wednesday. This podcast is distributed by the Women in Media Podcast Network. Find out more at womeninmedia.network.