If you thought college tuition was the only big expense you had to worry about with your kids, a new report from resale site thredUP.com will shock you. It found that parents spend nearly $14,000 on their children's clothes alone. Not only that, but by their 18th birthday, they've outgrown roughly 1,300 pieces of clothing.
If that makes you want to start cutting up credit cards on the spot, we don't blame you. But thankfully, there's a way to save $500 every year per child . . . by shopping resale. In fact, a growing number of parents — roughly 28 percent — would purchase secondhand items for their kids. But for parents who don't have the time or energy to go digging through bins at their local thrift store, here's a quick primer on what you need to know to both save money and make money.
Buy These Brands
Want to get the steepest percentage discount on your resale purchases? Look for these labels. Most brands will get you approximately half off the retail price, but these five average upward of 77 percent in savings. (Translation: you can snag a nice $51 boys' polo shirt for just $12.) And if you spot a cute onesie, scoop it up — those are the hands-down fastest sellers in the kids' market this year.
- Brooks Brothers
- Ralph Lauren
- Petit Bateau
Sell These Brands
Because few parents want to spend a fortune on novelty designer items for their fast-growing tot, they'll often turn to consignment shops to find them at a steep discount. This is where you come in. If you were gifted a cute pair of newborn Uggs at your baby shower, consider dropping them off at your local thrift store when your child outgrows them. When it comes to resale, brands that stand the test of time — both in terms of style and in durability — naturally do better.
- Ugg Australia
- The North Face
- Matilda Jane
Click here for more tips on how to make money selling your own used clothes.