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Episode 3032:

Sierra Black explores how renting can often be the smarter financial choice, especially for items that depreciate quickly or have limited use. By weighing costs, resale value, and usage frequency, you can make informed decisions that maximize value and minimize waste.

Read along with the original article(s) here: https://www.getrichslowly.org/when-renting-is-smarter-than-buying/

Quotes to ponder:

"Most products aren't investments. They lose value the moment you take them home from the shop, and continue to depreciate the longer you own them and the more you use them."

"Anytime you're buying something you have a limited use for, you might want to pause and consider renting instead."

"The key is to answer the questions mentioned and figure out if it will cost you more to rent or buy the thing you want."

Episode references:

Chegg (textbook rentals): https://www.chegg.com

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498: Real-world use of product life cycle management – with John Rovnan