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Buying in bulk means purchasing large quantities of a single product at a lower cost than you’d usually pay for the item. For example, you might buy a six-pack of shampoo for less than the per-unit price you typically spend on a single bottle. Or you might save big by buying a 10-pound bag of grapes instead of the usual one- or two-pounder.

But, like many things in life, buying in bulk has its pros and cons. For instance, you probably have to shell out more upfront to purchase larger quantities, and you might have trouble storing the items or using them up before their expiration date.

But like many things in life, buying in bulk has its pros and cons. For instance, you probably have to shell out more up front to purchase larger quantities, and you might have trouble storing the items or using them up before their expiration date.

Below, we’ll explore the ins and outs of buying in bulk, including whether it can save you money and how to avoid some potential pitfalls of bulk buying.

How Much Is “Bulk”?

There is no specific quantity you need to purchase to have something qualify as “bulk buying.” Rather, the term means you are buying large quantities of a single item to reap a discount.

That might mean you are buying one jumbo box of cereal (the kind that could feed a cabin full of summer campers) or a 12-pack of regular-size boxes bundled together. Or you might be buying 36 eggs at a time vs. the usual dozen.

The point is, it’s a larger quantity than what you might find at your local supermarket and at a lower price per unit. This can be an effective way to save money on groceries.

The Pros of Buying in Bulk

Here’s a look at some of the main advantages of buying in bulk:

You Can Save Money

Who isn’t looking for ways to save money daily? When you buy an item in bulk, you typically save money on the per unit price of that product. It may be a small difference but if it’s an item you use regularly, those savings can add up. For example, if you save 20 cents per coffee pod by buying a large quantity and you drink coffee daily, that adds up to $73 in money saved per year.

It’s Environmentally Friendly

Bulk purchases usually have significantly less packaging per use than smaller purchases have. For example, using one giant tub of laundry detergent rather than going through three smaller containers leads to less plastic waste.

Ideally, buying in bulk also means you shop less, and that’s less time spent on the road and burning gas.

You May Avoid Impulse Buys

You might rack up additional savings just by being in the store less frequently and having fewer opportunities to pick up things that weren’t on your list. If you’re motivated to save money, avoiding those impulse purchases can be a big plus.

You May Plan and Budget Better

If you’re the organized type who is big on preparing meals in advance, buying in bulk can make that endeavor easier and cheaper. Access to larger sizes of ingredients, like marinara, ground beef, mozzarella, and pasta, can make it cost-effective to cook lots of food and freeze it. That, in turn, can help you take better control of your food budget.

For sure, it’s cost efficient to prepare your family’s favorite pasta dishes and soups and have enough for today and whenever you’re ready for round two or three.

Finding the Price Per Unit

If saving money is important to you, there’s a good chance you want to know exactly how much you are benefiting by buying in bulk. To figure out the real cost, you may need to do some math. The first step is to determine the cost per unit. Sometimes, this number will be listed on the price signage at the store; otherwise, you can use the calculator function on your mobile phone.

•   What is a unit? Depending on the product, a unit might be an ounce, gram, gallon, square foot, or a single item.

•   Figure out how many units you are buying. Take the total cost of your purchase and divide that by the number of units to get the price per unit.

•   Then compare the unit prices of a few packages of the same product to determine which is the better value.

Ideally, the cost per unit of a bulk buy should be at least 20% below what you would normally pay at the supermarket.

Although a supersized item usually has a lower cost per unit than its smaller brethren, crunch the numbers to see.

💡 Quick Tip: Want a simple way to save more everyday? When you turn on Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your online savings account.

How Much Can You Save By Buying in Bulk?

No doubt, it can be hard to save money today, and you may wonder whether buying in bulk is worth it. The answer is: It depends. While the amount shoppers save depends on the item, it’s not unusual to save anywhere from 20% to 50% by purchasing items at the wholesale clubs vs. supermarkets.

You can also up your savings from buying in bulk by using coupons for those items.

Remember, what’s important isn’t an item’s price but the price per unit.

3 Tips for Buying in Bulk

When you want to stop spending so much and begin buying in bulk, you need a game plan. Here are three strategies to keep in mind:

1. Stick With What You Know

This is not the time to experiment. If you’re loading your cart with goods, you don’t want to be guessing about whether you’ll love them or not. Go for the family’s beloved items.

Buying in bulk and getting a deal is worthless if nobody wants to eat or use what you buy. That’s money down the drain.

2. Search for Your Favorites on Sale

It’s generally not a good idea to buy what’s on sale solely because it’s on sale. When trying to cut your grocery bill, the goal is to get what you know and love on sale, not to be overly adventurous. The latter can leave you disappointed, with a few fewer dollars in your pocket to boot.

3. Keep Expiration Dates in Mind

Do check expiration dates when buying in bulk. Items can expire before you get to use them, which is akin to throwing away your hard-earned money. Everything from sunscreen to olive oil can deteriorate when left to sit for long periods because you bought a mega-pack, so shop carefully.

What to Buy in Bulk and What to Avoid

Some products are perfect for stockpiling. While your list will depend on your family, think of items like:

•   Paper towels

•   Toilet paper

•   Tissues

•   Detergent

•   Dishwashing liquid

•   Sponges

•   Aluminum foil and plastic wrap

•   Toothpaste

•   Canned beans and fish

•   Frozen foods

•   Rice

•   Sugar

•   Flour

On the flip side, generally, you don’t want to load up on:

•   Fresh produce

•   Eggs

•   Meat or fish (unless you plan to freeze it)

•   Milk

•   Coffee beans

•   Snack foods/desserts (this could inspire you to overindulge)

The Cons of Buying in Bulk

Buying in bulk can work to your advantage, but it’s not without caveats. Here are some potential disadvantages to keep in mind:

Larger Quantities Can Mean Spending More

Bulk buying means spending more up front, which could put a strain on your finances. While paying $40 for $80 worth of lotion may be a good deal, it could backfire if you put that purchase on a credit card and can’t pay off the balance in full. You’ll then get hit with high interest fees, which can more than erase your savings.

You’ll Need Storage Space

Keep in mind, too, that you need space to store all that stuff and a car to pile it in to take home. If either of these are issues, buying in bulk may not be ideal for you.

You May Get Bored With Bulk Products

Know thyself…and your family. Maybe you are the person who gets bored quickly, or your kids will beg for some variety after you’ve bought 24 boxes of the same cereal. When you’ve got mega amounts of the same product, be prepared for the “same old, same old” for a long stretch. That’s all the more reason to purchase only what you love, as you may be using it for months.

You May Have to Pay Membership Fees

If you’re going deep into bulk buying, you likely won’t settle only for what you can get in bulk at the grocery store but will want to shop at the warehouse stores like Costco and BJ’s. Consider the annual membership fees that are required.

Costco’s “Gold Star” membership is $65 per year, and the “Executive” level is $130. BJ’s tiers are $60 and $120. Sam’s Club advertises membership fees of $50 and $110.

Will you frequent the store enough to make the fee worthwhile?

Bulk Quantities Can Lead to Overuse

If you have something in abundance, it’s all too easy to be less conscious of how much you’re using. Knowing you have 12 rolls of paper towel stashed away could lead you to use it up more quickly because you know you have backup waiting.

Bigger Quantities Means Spending More Cash

There’s also the issue that if you’re earning a lower income and/or have considerable debt, you may not be able to come up with enough money to purchase bulk products versus their smaller and less expensive single-use versions. One big purchase could blow your weekly budget. If you spend a chunk of money to buy a mega-pack of toilet paper, can you then afford other necessities?

Products May Expire

Buying in bulk can be a fun way to save money, but don’t get so giddy grabbing great buys that you forget important things like expiration dates. Products like bleach and sunscreen may expire in 12 months or less. And certain food products can expire as well. Getting a gallon of milk for the same price as a half gallon doesn’t yield any savings if it sits in your fridge for so long that it goes bad.

Buying in Bulk at Local Grocery Stores vs Wholesale Retailers

You may wonder if you should buy in bulk at your local grocery store vs. at a wholesale retailer (meaning places like Costco or Sam’s Club). It’s true that you may find good deals at your local supermarket (such as buy two cans of tuna and get two for half-price), and coupons can boost your savings.

However, it’s likely that these deals will be occasional. At a wholesale retailer or warehouse club, the business model is to have bulk quantities always available at good prices. That’s the company’s mission and what gives them bargaining power. In other words, their reason for being is to help customers buy in bulk and save.

While you may find great deals at your neighborhood grocery store that encourage you to stock up, you are likely to find smart deals in every aisle of a bulk retailer.

The Takeaway

Buying in bulk has its advantages. Getting a good deal can help you spend less and save more, but you’ll need to be savvy. Buy only what you need and what you can comfortably store and use in a timely fashion.

As with your local supermarket, temptation often lurks at bulk retailers. It’s best to prepare and follow a shopping list and know how to compare cost per unit to assess whether buying in bulk is worth it.

Armed with the right strategies, you can save real money by buying in bulk. As a next step, you’ll want to find a good place to stash that extra cash. If you’re in the market for a new bank, see what SoFi has to offer.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

How much do you save if you buy in bulk?

While individual savings will vary, you may be able to save anywhere from 25% to 50% by buying in bulk.

Why is it cheaper to buy in bulk?

Buying in bulk is often cheaper per unit because it allows manufacturers to spread fixed costs over a larger quantity of goods, leading to lower production and distribution costs. This enables them to offer discounts for larger orders.

What are two downsides of buying in bulk?

One major downside of buying in bulk is the high upfront cost. The higher initial price tag may be difficult for some consumers to afford, even if the long-term cost per unit is lower. Another potential downside is the risk of waste. If you buy perishable items in bulk, you run the risk of them spoiling or expiring before you can use them.

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SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.

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A checking account generally serves as the hub of your daily financial life. It provides a secure and convenient place for your income to enter and for your daily and monthly expenses to leave. While some checking accounts serve only basic functions, some go a step further. Called “rewards checking,” these accounts may offer perks like interest on your balance, cash back on purchases you make with your debit card, or both.

While these accounts can be appealing, they come with some caveats. You might face limits on how much you can earn and be required to meet certain criteria (such as maintaining a high balance or enrolling in direct deposit) to qualify for your rewards.

To help decide if a rewards checking account is right for you, here’s a closer look at what they are, how they work, and their pros and cons.

What Is a Rewards Checking Account?

A rewards checking account is a type of checking account that offers incentives or perks to account holders in exchange for meeting certain requirements. These perks can include higher interest rates, cash back on purchases, or other benefits like ATM fee refunds.

To qualify for the rewards, users typically need to meet certain conditions, such as making a set number of debt card transactions per month or having at least one direct deposit or automatic payment per month. If you don’t meet the requirements, you might earn a lower interest rate or earn no rewards for that period.

How Does a Rewards Checking Account Work?

Some checking accounts with rewards have criteria for earning perks each month. For instance, a bank may require you to:

•   Use your debit card for a minimum number of transactions each month.

•   Maintain an average minimum account balance.

•   Receive a set number of direct deposits equal to a specified value.

•   Enroll in services like e-statements or online bill pay.

If the reward is a higher annual percentage yield (APY), you will likely earn that in the form of monthly interest on your bank’s payment schedule, deposited directly into the account. If the checking reward is cash back, the bank may offer multiple ways to redeem the cash within the mobile app. Similar to cash-back credit cards, you can often convert points into airline miles or other perks — or just receive cash in your account.

Perks of a Rewards Checking Account

The perks of a rewards checking account will vary by bank but might include:

Cash Back

Cash back is usually expressed as a percentage of the transactions made with a debit card; this might also be structured as points or even airline miles.

Interest

While basic checking accounts generally don’t pay much or any interest, a rewards account may be an interest-bearing checking account. If so, it will typically offer an APY that is higher than the zero or the very low rate usually offered by traditional checking accounts.

Signup Bonus

A rewards checking account may pay a one-time bonus for signing up for a new checking account and meeting specific criteria.

ATM Fee Reimbursement

A rewards account may offer refunds for expenses incurred for using out-of-network ATMs.

Other Perks

Among the other rewards you may see offered are ways to earn airline miles, shopping discounts, cell phone insurance, and identity theft protection, among other options.

Some rewards checking accounts may offer a combination of these perks.

Who Should Use a Rewards Checking Account?

A rewards checking account can be a good option if you regularly use your debit card for purchases and keep a substantial amount of money in your checking account. If you do not have a rewards credit card, a rewards checking account can serve as an alternative way to earn money for spending money.

As mentioned, some banks have special requirements for members to earn rewards. Read terms and conditions carefully. If you cannot meet account requirements for the reward, the account might not be right for you, especially if there are monthly maintenance fees.

How to Qualify for a Rewards Checking Account

Qualifying for a rewards checking account may vary depending on the bank, but, as mentioned, there tend to be common core requirements for earning rewards, such as:

•   A minimum number of debit card transactions in a month

•   An average daily minimum account balance

•   A minimum number (or value) of monthly direct deposits

If an account comes with a signup bonus, the bank likely has a set of requirements you’ll need to meet to snag that cash. This may include enrolling in direct deposit to get you started.

When considering a rewards checking account, it’s wise to read the fine print before opening to ensure you fully understand the requirements.

Pros of Rewards Checking Accounts

Here are some of the benefits of opening a rewards checking account:

•   Earning potential: Whether through a higher-than-average APY or through cash back on debit card purchases, the main draw of a rewards checking account is often earning money (or more money) for doing the banking you would do anyway.

•   No annual fee: Unlike some rewards credit cards, rewards checking accounts generally do not charge an annual fee.

•   ATM fee reimbursements: Many rewards checking accounts will refund all or some of the fee you may be charged when using an out-of-network ATM. This can be valuable if you frequently travel outside your bank’s network.

Recommended: How to Manage Your Money Better

Cons of Rewards Checking Accounts

Rewards checking accounts also come with some potential downsides. Here are some to keep in mind:

•   Limits on rewards: Some bank programs cap the rewards at a set amount each month, meaning there could be a limit to the amount of cash back you can earn.

•   Better rewards elsewhere: Rewards credit cards may offer more cash back than a rewards checking account.

•   Minimum balance requirements: Some banks have minimum initial deposit requirements and/or ongoing balance requirements to earn the reward. If you cannot meet the requirement or do not wish to keep that much money in a checking account, the account might not be the right fit.

•   Fees: While some rewards checking accounts have no fees, others do charge monthly maintenance fees that can make the rewards less attractive or possibly even negate them.

Cashback Checking Accounts vs Credit Cards

You may be wondering whether a cashback checking account or credit card is the better fit for you. See how they stack up here:

Cashback Checking Account	Cashback Credit Cards
Provides a secure hub for daily finances	Provides a line of credit for purchases
May charge fees	Charges interest; may charge annual fee
Earn cashback typically through debit card use	Earn cashback typically through spending with credit card

Is a Rewards Checking Account Worth It?

A rewards checking account with cash back can be a good fit if the conditions to earn the perks are no problem for you. You might consider going with this type of checking account if:

•   You’re already in the habit of swiping your debit card for everyday purchases (or this prospect doesn’t faze you). If so, it might be easy for you to manage a checking account like this and make your money work harder for you.

•   You tend to keep a large sum of funds in your checking account. If that’s the case, you might enjoy the earning potential provided by a high-interest checking account even if it has a higher-than-usual balance requirement.

•   You’re willing to have your paycheck directly deposited into the account. Some rewards checking accounts require that you have a recurring direct deposit, such as your paycheck, to qualify for the rewards.

The Takeaway

A rewards checking account could be a good deal if you want to earn interest (or more interest) on cash you have sitting in your checking account and/or there are perks that you could reap for behaviors you already engage in (like swiping your debit card or receiving direct deposit), or don’t mind adopting. It can also be a good alternative to a rewards credit card, since there are typically no annual fees.

Before you dive in, however, you’ll want to weigh the rewards against any costs or requirements. If the account charges fees, for example, it could eat into your rewards. And if you don’t consistently meet the requirements to earn rewards, you may not get any.

As with all decisions concerning your financial life, it pays to shop around to make sure you’re finding the best fit for your lifestyle and goals.

FAQ

What are rewards in banking?

Rewards in banking refer to incentives and perks that account holders receive. They might be a signup bonus for a new account, a higher-than-average interest rate, or cash back on debit card purchases. Customers may need to meet certain requirements, such as maintaining a certain balance or spending a certain amount on their debit cards each month, to receive the rewards.

Why do banks offer points or rewards?

Banks offer points or rewards to entice consumers to choose their accounts or cards over competitors. Once you become a customer, rewards ensure you continue to engage with the bank’s product, either by depositing more funds into your account or using your debit or credit card for more daily purchases.

Are bank rewards interest?

Bank rewards are generally not considered interest. Interest is the money you earn from keeping your funds in a savings or other interest-bearing account. By contrast, rewards are promotional incentives given for specific actions like spending or meeting account requirements. That said, in some cases, a reward will come in the form of a higher-than-average interest rate.

Can you earn points on a checking account?

Yes, some banks offer rewards checking accounts that let you earn points for everyday activities like using your debit card. These points can often be redeemed for cash back, travel, gift cards, or merchandise. Not all checking accounts offer this feature, however, so it’s important to compare options and read the terms to make sure the rewards align with your spending habits.

Are bank rewards worth it?

Whether or not bank rewards are worth it depends on your financial situation and preferences. Do you meet the criteria for a rewards checking account (such as swiping your debit card often enough or receiving a certain dollar amount of direct deposits)? Can you handle any requirements such as monthly minimum balance or account fees, if assessed? If so, earning interest or receiving other perks could be a smart, money-wise move.

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Photo credit: iStock/Feodora Chiosea

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

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Offloading your used items can do you good on a couple of fronts. You can declutter your home, help fight waste (since you’re not just throwing things out), and make some extra money all by selling your still-useful stuff.

Whether you are looking to sell unwanted items like clothing, shoes, bags, furniture, housewares, books, electronics, or anything else, you can probably find a platform to help you get the job done. Some ways to sell are online, others aren’t, but all can do their part to connect your items with buyers — and get some additional cash flowing your way.

Here’s a guide on where to sell stuff, with dozens of places that can help you turn your unwanted items into cash.

20 Places to Sell Stuff Online

If you have items you no longer want or need, and you’re looking to make some extra money, exploring online platforms to sell used items can be highly beneficial. Whether you’re decluttering regularly to keep your space tidy or need a financial boost, online resale apps and sites offer convenient ways to reach a wide audience. Many of these platforms are free to list but they may take a small percentage of your profits once you sell.

💡 Quick Tip: Tired of paying pointless bank fees? When you open a bank account online you often avoid excess charges.

1. Craigslist

One of the original online marketplaces, Craigslist is still around and remains a popular platform for local classifieds. You can list all sorts of things, from tools to toys to DVDs to antiques (and much more) for free.

2. Facebook Marketplace

Facebook Marketplace makes it easy to sell items in your local area. It’s free to create a listing that can be seen by anyone on and off Facebook. You can also choose to post your listings to any “Buy and Sell” Groups you’re a member of.

However, a word of caution: Facebook Marketplace and other similar platforms can be used for bank account scams. Read up on common ploys and proceed with caution when selling this way.

3. Amazon

While you may think that Amazon is where you can buy new things, there are also a lot of opportunities to list used items. The site typically charges $0.99 per sale. You can also sign up for a professional selling plan which costs $39.99 per month no matter how many items you sell. Amazon may also charge others fees, including referral fees.

4. eBay

The original selling platform, eBay can still be a good way to sell your stuff, especially if you want to reach buyers from around the world who are looking to save money. Or it can be a huge help if you’re looking to unload an unusual item (there is almost nothing you can’t potentially sell on eBay). But you may want to keep an eye out for selling fees, which may include a listing fee, a percentage of the sales prices, and possibly other fees.

5. OfferUp

Developed as a locally-driven platform, OfferUp can be another good bet for selling used things. It allows you to sell to someone local, or ship an item to a buyer who lives anywhere in the U.S. The platform doesn’t charge fees or take a commission from your in-person transactions, but fees may be charged for shipping, promoting your items, and listings that go beyond the free allotment for the month.

6. Poshmark

Primarily a site for selling used clothing, Poshmark also lets you list home decor, jewelry, and beauty products. For sales you make under $15, Poshmark takes a flat commission of $2.95. If you make a sale that’s worth $15 or more, it takes 20%.^[3]

7. Etsy

Etsy may be best known as a platform for artists to sell their handmade goods and launch a low-cost side hustle. But the site also allows you to list some used goods. However, you can only resell in the “Vintage” and “Craft Supplies” categories. There is a listing fee of 20 cents per item, and, when you sell an item, there’s a transaction fee of 6.5% of the price. You may also need to pay a fee to open your Etsy shop.^[4]

8. thredUP

An online consignment and thrift store, thredUP sells thousands of major brands. You can send your gently used clothing directly to the service. If they accept (and sell) your clothing, you can earn ThredUp credit, which you can convert into cash. If your item sells in its listing window, you’ll earn a percentage of the selling price. This can be anywhere from 3% to 80%, depending on the item’s sales price.

9. eBid

Like eBay, you can sell just about anything on eBid, either for auction or at a fixed price. eBid is organized into three tiers of selling, with different membership costs and selling fees. eBid may or may not wind up costing you less than other selling platforms, depending on how much you will sell and at what price.

10. Bookoo

Bookoo is an online platform that serves as a local community marketplace for buying and selling items. It essentially functions like an online yard sale, facilitating in-person transactions between neighbors, and does not charge any listing or transaction fees.

11. Vinted

If you have a lot of gently used clothes, shoes, and accessories to sell, you may want to check out Vinted, a peer-to-peer online marketplace that focuses on vintage and second-hand fashion. And, for sellers, it’s free. Buyers pay a “protection fee,” typically 5% of the purchase price plus 70 cents.

12. Vestiaire Collective

If you have luxury items you want to sell, you may want to try Vestiaire Collective, a resale website where you can buy and sell high-end clothing, handbags, and accessories. Listing your items is free; once you make a sale, a selling fee of 10% will be deducted from the final price of your sale.

13. TheRealReal

TheRealReal is a luxury consignment site where you can drop off or ship designer clothing, accessories, and jewelry, as well as fine art and upscale home decor. They sell your items for you in exchange for a percentage of the profit.

Recommended: Ways to Make Money Online

14. Rebag

If you have a designer bag that you no longer want, you might consider selling it on Rebag, a site that’s focused on buying, selling, and trading luxury handbags and other accessories. The site offers three ways of selling — consign, trade, and buyout, giving you control over how you sell, what you earn, and how quickly you’re paid.

15. Bag Borrow or Steal

Another site for selling luxury handbags is Bag Borrow or Steal. You can sell directly to the site (and get paid right away), or you can consign and receive 70% of the sales price after it’s sold.

16. PreOwned Wedding Dresses

If you aren’t sentimental about keeping your wedding dress, bridal party gown, or accessories, then you might list it on Nearly Newlywed (PreOwnedWeddingDresses.com), with a $25 listing fee and an 80% payout of the sale price when someone buys it.

17. BookScouter

If you’re looking to sell textbooks, you may want to check out BookScouter. The platform simplifies the process by searching sites that buy used textbooks, then displaying the prices from those sites, so you can compare and decide where to sell your books.

18. GoTextbooks

GoTextbooks also allows you to sell your college textbooks and hopefully recoup some of the money you spent on them. When you let the site (sellback.gotextbooks.com/) know about what you have for sale, they will give you an instant quote. You can then ship your books for free and receive your money.

19. Gazelle

You may be able to turn your old cell phone into some quick cash at Gazelle. The site will give you an instant quote. If you like the numbers, you can ship the phone to them for free, and get paid via Amazon Gift Card, PayPal, or check.

20. Instagram

If you have a fair number of followers on Instagram, you might consider listing items you’re looking to sell there. As with Facebook groups, you simply need to snap a photo, write a brief description, and name your price. Or, you can go the more professional route and integrate Instagram’s shopping tools.

15 Places to Sell Stuff In Person

For those who prefer face-to-face transactions, selling items in person can be equally rewarding. If you have items cluttering your home and you need quick cash, local stores, markets, and community sales can provide great opportunities to sell your goods directly. Whether you choose to consign your items or sell them outright for cash, these in-person places can offer immediate results and personal interactions with buyers.

1. Garage Sales

If your goal is to unload a large amount of stuff all at once, hosting a garage sale can be a good way to go. You could even get some neighbors together and hold a community garage sale to attract more people.

Just be sure to double-check local laws first to see if a permit is required.

2. Flea Markets

Community flea markets can be a great way to sell unwanted things. The owner and operator of the flea market will likely charge you a fee for a booth. If you live in a big city, you may have to register early to get a spot.

3. Buffalo Exchange

Buffalo Exchange is a vintage and used clothing store with locations throughout the U.S. If one of their stores is convenient to you, you can make an appointment to meet with a buyer. If they like your stuff, they will pay 25% of their selling price in cash or 50% in store credit. (Using that store credit could prove to be a good way to save money on clothes.)

4. Crossroads Trading

Crossroads Trading is a second-hand clothing store with brick-and-mortar locations throughout the U.S. If you visit a store, you may be able to receive cash for your clothing on the spot. For higher-end pieces, you can opt to consign. Crossroads also offers mail-in service.

5. Plato’s Closet

You can bring your gently used brand-name clothing and accessories to a Plato’s Closet near you. They’ll review your items and, if accepted, you’ll get paid on the spot.

6. Style Encore

A women’s resale store, you can bring in stylish, gently used clothes, shoes, handbags, and accessories to one of Style Encore’s retail locations. If the store likes your items, you will get paid right away in cash.

💡 Quick Tip: Did you know online banking can help you get paid sooner? Feel the magic of payday up to two days earlier when you set up direct deposit with SoFi.^

7. Once Upon a Child

If you have gently used children’s clothing and shoes, toys, and/or baby gear lying around, you may want to cart it over to Once Upon a Child, which has locations throughout the U.S. An employee will check out your goods and, if they think they sell them, will give you cash in return.

Recommended: Weird Ways to Make Money

8. Play It Again Sports

If you live near Play it Again Sports, you may want to consider bringing in all the no-longer-used sports equipment in your garage. You’ll clear out the space, and may get a nice amount of cash in return.

9. Music Go Round

Live in a musical household? Music Go Round is a resale music shop where you can bring in used instruments and sound equipment (like amps, MIDI equipment, and mixers) and get paid cash in return.

10. Local Thrift Stores

Unlike Goodwill or Salvation Army which accept donations, thrift stores — specifically ones that sell high-end or vintage clothing — might be willing to buy your clothes and other items. Look up local stores, and ask them what they buy and how much they typically pay.

11. Used Book Stores

Your local used book stores may be looking to purchase your books from you. You can call ahead, let them know what you have, and see if they are interested. You might wind up freeing up shelf space while making some extra cash.

12. Pawn Shop

You may be able to make some quick money selling your old stuff to a local pawn shop. Typically, pawn shops are only interested in things of real value, such as jewelry, collectible coins, and electronics. It can be a good idea to bring in proof of purchase so that the owner knows you aren’t trying to sell stolen goods.

13. Facebook Groups

If you’re in any local or niche Facebook groups, you may want to post items that might appeal to members of the group. You simply need to snap a picture, describe your item, set your asking price, and see what offers you get.

14. Nextdoor

Nextdoor is a network of local community websites and can be a good place to post items. To sell items locally for free, you’ll need to make an account. You can then create a post from your feed by clicking the “Sell or give away” option at the bottom.

15. A “Raid My Closet” Event

Do you have friends who might be interested in checking out what you have for sale? You may want to consider inviting them over for a “raid my closet” event, or a “raid my garage” party. You can offer food and drinks, and make it a fun celebration to declutter your home.

What Are the Benefits of Selling Your Things?

Selling your things can have several benefits:

•   You can declutter or downsize by selling unwanted items.

•   You can help the environment by passing the item along versus throwing it in the garbage.

•   You can help someone who is looking for a gently used item that you have and wants to get a good deal on it.

•   You can bring in extra income.

However, there are also some potential downsides of selling your stuff. As mentioned, there is the possibility of being scammed in some direct sales. There may also be tax implications if you frequently sell things for profit (meaning you’re getting more than you paid for the items). In that scenario, it’s a good idea to consult a tax professional.

The Takeaway

If you’re holding on to clothes, furniture, books, or other items you no longer want or need, you could be sitting on a way to make some extra money while decluttering.

What to do with all the extra cash that starts rolling in? You might want to bank it and earn a competitive return on those funds.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

What is a good website to sell stuff on?

The right website to sell stuff on will depend on the item you are selling. If you are selling a piece of furniture or large appliance, you might try Craigslist or Facebook Marketplace. For clothing, you might consider a site like Poshmark, ThredUp or Vinted.

How do I sell my stuff online for free?

This will depend on the kind of item you are selling. Craigslist, Facebook Marketplace, and Vinted are some examples of platforms that typically don’t charge the seller any fees.

What is the best app for selling used items?

Among the apps to consider when selling your used items are eBay, OfferUp, and Poshmark. These can reach a large number of potential buyers, though as a seller, you will likely pay some fees.

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About the author

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Article Sources

1. Amazon. How to sell on Amazon: 7 steps for beginners.
2. OfferUp. What is OfferUp?.
3. Poshmark. What are the fees for selling on Poshmark?.
4. Etsy. Fees & Payments Policy.

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Photo credit: iStock/Zinkevych

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

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ATM cards and debit cards may look very similar, but they actually have very distinct functions: ATM cards allow you to withdraw or transfer money from your bank account when you need cash. A debit card, however, delivers the same benefits and can also be used to pay bills or earn rewards for your spending habits.

Understanding how each card works ensures you make the most of your banking services. Learn how and when to use each.

What Is an ATM Card?

An ATM card allows you to withdraw cash from these machines up to certain ATM withdrawal limits and transfer money between bank accounts.

However, the card has limited functionality. You cannot use it to make in-person or online purchases like you can with a debit card drawing upon your checking account.

Worth noting: Those who hold money market accounts (which are a kind of savings account blended with some checking account features) often have ATM cards.

How Do ATM Cards Work?

A bank links your ATM card to your account. When you use your ATM card at a machine, you enter your four-digit personal identification number (PIN) to access your account.

You can then use the ATM to view your account balance, withdraw cash, make a deposit, review recent transactions, and move money from one account to another. If you withdraw cash, you may have to pay an ATM fee, depending on your bank and the machine you use. (You may be able to avoid some ATM fees; check with your bank for details.)

What Is a Debit Card?

So, is a debit card the same as an ATM card? While they have similarities they are not the same.

Like an ATM card, your debit card links to your bank account and allows for cash withdrawal and checking account management. However, debit cards often have higher withdrawal limits, meaning you can access more cash every day than with an ATM card. Generally, banks give debit cards to customers who have checking accounts.

A debit card is also a payment card. In other words, you can use your debit card at physical storefronts and shops to purchase goods and services. Likewise, your card enables you to make online purchases.

However, debit cards typically have purchase limits, meaning you can only conduct so many dollars’ worth of transactions per day. Usually, purchase limits range from a couple of hundred dollars to a few thousand dollars. Your limit depends on the financial institution that holds your bank account.

Recommended: How to Deposit a Check

How Do Debit Cards Work?

At an ATM, a debit card works identically to an ATM card: You enter your credit card PIN to manage and withdraw funds from your bank account. However, debit cards also allow you to forgo using cash. Instead, you can skip the ATM, go to the store, and use your debit card to make the purchase.

Your debit card will use your checking account to pay, making the transaction cashless. For security, you may use your PIN to complete a purchase.

By the same token, you can use a debit card online by entering your details when making a purchase on a website. This feature allows for electronic transactions where giving or receiving cash isn’t possible.

Pros and Cons of ATM Cards

Here is a summary of the advantages and disadvantages of ATM cards to help you understand ATM cards vs. debit cards:

Pros of an ATM Card	Cons of an ATM Card
Quick access to your cash	Your bank can limit how much cash you can withdraw daily, restricting your purchasing capabilities
You can check your account balance	Using an ATM out of your bank’s network will likely incur fees
You can move money between your accounts	Losing your card means you can’t access your money
Your four-digit PIN helps prevent theft	A thief might steal your card and be able to access your PIN
You can review recent transactions

Pros and Cons of Debit Cards

This list of pros and cons of debit cards can help you see the difference between a debit card vs. an ATM card:

Pros of a Debit Card	Cons of a Debit Card
Same functionality as ATM card	Debit card usage doesn’t build your credit history or score
PIN enhances account security	Like an ATM card, a thief could steal it and access your PIN
Linked to your checking account, enabling online banking	You might be subject to ATM fees
Can transact physical and online purchases	May have daily spending limit
You can cancel or freeze a debit card if you lose it
You might receive reward points for transactions
Can usually complete international purchases

Recommended: Guide to Using a Credit Card Like a Debit Card

When to Use an ATM Card Over a Debit Card

ATM cards only let account holders transfer money to and from accounts. For this reason, an ATM card might be more suitable for those who only have an ATM card linked to their bank account and need to move money. For example, an ATM card is a good option if you have a money market account and need to withdraw or deposit funds.

When to Use a Debit Card Over an ATM Card

On the other hand, if you want to make purchases online and pay bills, you will need to use a debit card since ATM cards don’t have these capabilities. Plus, if you want access to your bank account while traveling abroad, you’ll need to use your debit card (for purchases, you might decide to get an international credit card as well). This is because ATM cards can typically only be used in the United States.

Deciding which card to use will really depend on which type of card is linked to your bank account and what type of transaction you’re trying to complete.

Can I Have Both a Debit and ATM Card?

It’s possible to have both an ATM card and a debit card. Of course, the type of cards you have depend on your bank, account type, and needs. But, if you have both, ensure you know which card is linked to which account. This way, you can be mindful of potential fees and overdrafting your account.

The Takeaway

When you need to deposit or withdraw cash from your checking, savings, or money market account, an ATM card can help you do just that. However, with an ATM card, you can’t complete other banking transactions like making purchases or paying bills. A debit card gives you the ability to do all of it. The card you use will depend on your bank’s offerings as well as your financial needs.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

Do you need an ATM card?

Not necessarily. Debit cards also give you access to ATMs to withdraw or deposit money.

Are debit cards more useful than ATM cards?

Yes, debit cards have more functionality than ATM cards. For example, you can make purchases and conduct internet banking with debit cards. ATM cards don’t allow you to do that.

What are the main differences between an ATM card and a debit card?

The primary difference between ATM and debit cards is that you can only use the ATM card to withdraw and deposit funds and make limited transfers using ATMs. A debit card does the same, but you can also make purchases in-store or online and use it for other banking services.

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Photo credit: iStock/Nastasic

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

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You’ve likely made some impulse purchases in your life and later regretted spending your hard-earned cash that way. One way to avoid making impulsive or bad buying decisions is to hit pause just before you make a purchase to ask yourself a series of simple questions.

This extra step forces you to step back and honestly consider how the potential purchase fits into your life. You might ultimately decide you don’t want the item after all. And, if you do decide to buy it, you can feel confident that you’re doing it for the right reasons.

9 Questions To Ask Yourself Before Buying Something

Knowing some key questions to ask yourself before you buy something can help ensure that you spend according to your values and cut down on purchases you’ll regret later. After all, the last thing you want is to spend money on things that don’t really enhance your life — and may add to your debt (especially if you’re already paying off some debt).

Here are some key pre-purchase questions to consider.

1. Is This a Want or a Need?

A great first question to ask is whether your prospective purchase fulfills a need or is just something you want, or a discretionary expense. If it’s an item you need — and you can afford it — then you might just go ahead and buy it. If, on the other hand, it only fills a want, it’s a good idea to continue vetting the purchase with the questions that follow.

2. What Do You Gain From Buying This?

Consider what you hope to gain from making the purchase. Is it the admiration or approval from other people? Does someone you know or follow on social media have it? Is this something that will genuinely improve your quality of life?

Research suggests that people feel more satisfied when they spend money on things or experiences that mean something to them and reflect their values.

Recommended: What Is FOMO Spending?

3. Is This Something That Will Actually Sell Out?

Though retailers will often make you think you need to act quickly (due to low stock), there’s a good chance that the items that you’re thinking of buying will still be available at a later date. If you’re feeling pressured to buy due to a limited-time sale, keep in mind that sales pop up all the time. Waiting for the next one could save you even more money, as you may decide you don’t really want it that much. This can help you avoid making an impulse buy.

4. Can You Get It Used or for a Better Price

If you’re thinking of pulling the trigger on a full-price item you don’t need right away, consider whether you may be able to find a better deal. For example, you might:

Buy Used

If you’re looking at a piece of equipment (like sports, exercise, or baby gear) or furniture, keep in mind that you may be able to find it in great condition on a second-hand marketplace online or even a yard sale.

Find Discounts

While buying used is not everyone’s cup of tea, buying on sale should be. These days, there are websites and apps that can help you do quick price comparisons to find the best deals. Some apps will even alert you when the price for a wanted item drops.

5. Do You Own Something Similar?

If you were to look at what you already own, you might be surprised to find how often you purchase nearly the same items over and over again. Buying similar items is totally understandable. We all know what makes us comfortable and what we tend to wear or like, so we gravitate to similar-looking clothes, shoes, home decor, and so on.

If you already have several coffee mugs, jean jackets, baskets, whatever that are similar to your prospective purchase, you may want to pass.

Recommended: How to Stop Spending Money

6. Why Do You Want to Buy This Now?

Sometimes there is a clearcut reason to make a purchase, even an impulse purchase. You might be at a store and remember you need hand soap or a certain tool to make a repair. But if there isn’t a clear reason for making this purchase right now, you may want to pass.

7. How Often Will You Use It, Really?

If you will only use or wear the item you’re thinking about buying once, or even a handful of times, you may want to rethink the purchase. It’s possible you can get by with something you have, can rent the item, or can borrow it from a friend or neighbor. This can end up saving you buyer’s remorse as well as money that you could stash in a high-yield savings account.

8. If the Item Was Full Price, Would You Still Buy It?

A sale price can make an item look particularly appealing. You might even think you’d be a fool to pass it by. But it’s important to put the price tag to the side for a moment and consider whether or not you really want and love the item. Would you even be considering it if it were full price? If the answer is no, it’s likely you can forgo it.

9. Would It Be Better To Put the Money Elsewhere?

If you can ask yourself this question, then you’ve arrived. You’re thinking of the big picture and wondering whether there may be other things that are more important than what’s in front of you. This involves delaying gratification and knowing how to spend money wisely.

You might decide that rather than buying that new pair of shoes, the money could better be put in, say, an online bank account where it can earn interest with lower or no fees.

The Psychology Behind Reflecting Before Purchasing

One common reason why people shop for new (and often similar) things is because they don’t fully appreciate the things they already possess. But there is a way you can turn this psychology around.

Before you make a purchase, consider whether or not you already own something that can fulfill the same purpose. If you do, next think about whether there is a reason you need something similar. If you can’t, you can probably easily pass on the purchase. The process of reflection not only avoids an unneeded expense but allows you to refocus on the item you already have and appreciate it more.

How Budgeting Can Curb Compulsive Spending

Creating a budget involves looking at where your money is currently going and making sure that your spending aligns with your priorities. There are many different kinds of budgets but one simple framework is the 50/30/20 rule.

The idea is to divide your monthly take-home income into three categories, spending 50% on needs, 30% on wants, and 20% on savings (and debt payments beyond the minimum). This set-up helps curb compulsive spending because you only have so much “fun” money to spend each month. It also allows you to spend money without feeling guilty, since it’s baked into the budget.

Recommended: Savings Calculator

The Takeaway

If you are considering making a discretionary purchase, you can ask yourself a few questions that can help you avoid buying something that you later regret. For instance, asking if you already have something similar or whether you’d buy it even if it wasn’t on sale can help you determine your motivations. By reconsidering the purchase, you might wind up saving money that could be better spent paying down debt or going into your bank account.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

How do you determine if you should buy something?

A good first step is to determine whether a prospective purchase fulfills a need or is simply something you want. If it fills a need, you can go ahead buy it, as long as you can afford it. If it’s a want, you might next consider why you want to buy it. Also think about whether you may already have something similar, and whether the money might be better spent on something else.

Should a budget include flexibility for impulse purchases?

Yes. A budget will typically allot a certain amount of money just for “fun” each month. This frees you up to make the occasional impulse purchase without feeling guilty or worrying that it will hurt your long-term financial health. In fact, building in flexibility to your spending plan can help you stick with it.

What questions should you ask yourself before buying something?

Some key questions to ask yourself before you make a purchase include:

•  Do I need it?

•  What do I gain from buying this?

•  Do I own something similar?

•  If the item was full price would I still buy it?

•  How often will I use it, really?

•  Could I get it used or for a better price elsewhere?

•  Is there a better way I could use this money?

How do you stop impulse buying psychology?

One effective strategy is to establish a waiting time before you make any discretionary purchases. If you see something you want to buy, put the purchase on pause for a week (or more). Tell yourself that if, at the end of the waiting period, you still want the item and can afford it, then you can go ahead and buy it. You may find, however, that by delaying gratification (and the purchase), you lose interest in the item and opt not to buy it after all.

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Photo credit: iStock/Talaj

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

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Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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