NORFOLK, Va. — There’s been a lot of talk recently about how people are spending more money as costs go up — while some companies are increasing prices, others are leaning into recycling programs.
At certain retailers, consumers can get rewarded for bringing in older, gently-used clothes, electronics, and makeup products.
Goodwill is one location where you can donate items and then shop for a deep discount.
Watch related coverage: It's getting more expensive to raise a child, here's how parents are getting by
Recently, I caught up with Joshua Drake, who was shopping at Goodwill in Norfolk’s Janaf Shopping Center for new work clothes.
“It's affordable and you never know what you're going to find in here. You could find some gems,” he said.
If you prefer just to donate, keep your receipts because they can be tax-deductible.
Watch related coverage: As prices go up, consider these shopping options for secondhand savings
If you itemize deductions on your federal tax return, you may be entitled to claim a charitable deduction for your Goodwill donations. According to the Internal Revenue Service (IRS), a taxpayer can deduct the fair market value of clothing, household goods, used furniture, shoes, books, and so forth.
For a quicker return, smart shopping expert Trae Bodge advises seeking out stores with recycling programs.
"There are many retailers like Patagonia and Madewell and Carter's that will give you a little bit of a benefit if you bring some clothes back into the store," Bodge said.
Watch related coverage: As federal student loan collections resume, what options do borrowers have?
For example, when you trade in old North Face gear, you can receive credit of $10, $30, or $50 towards your next purchase.
At H&M, customers can bring in any brand of clothes to the register and receive a coupon for their next purchase.
If you're looking to donate gently worn shoes, DSW offers 50 points for VIPs who donate each week. Donations to the "Soles4Souls" program are also tax-deductible.
Watch related coverage: How to maximize your tax refund
When you book an appointment, you can trade in men's and women's denim bottoms, shorts, and jackets with minimum rips, no stains, or missing buttons at Levi’s. According to the company, they accept up to five items per trade-in and have a limit of one trade-in per month per person.
Trade-in credits range from $5 to $30 based on your item’s age, condition, and original retail price.
For online shoppers, Bodge has a helpful tip.
"Coupon Cabin has a browser plugin called Sidekick, and it will actively look for deals and cash back opportunities for you as you shop online. That's something that you should do right away if you're not doing so already," she said.
Watch related coverage: Free webinar offers education on antivirus software and scams
Trade-in programs are also available for electronics and beauty products.
For example, L'Occitane gives a 10% discount on your next purchase for returning beauty packaging.
Bodge recommends calling ahead to ensure that a particular store is participating in these programs to avoid wasting time.
