Barefoot Investor reveals how Aussies can save thousands this year trends now

Scott Pape - better known as the Barefoot Investor - has used his latest newsletter to advise Australians on how to save thousands of dollars, and anyone can do it.

Though his advice is specifically aimed at teenagers saving to buy what they most desire, it is applicable to anyone looking to save a few dollars and get things quicker.

Pape reveals that companies around the world spend $1trillion dollars each year on marketing, ads and paying social media influencers. 

This, of course, is all about convincing people to buy their brand new stuff. 

'Now guess how much money is spent trying to get you to buy something second-hand,' Pape asked. The answer is '$0'. 

You don't actually need all this new stuff, Pape said, second hand goods are often just fine for your needs, whatever they are.

Buying pre-owned items also serves a very worthwhile purpose beyond money saved, he said. 

'Buying something second-hand and using it again is awesome for the environment. 

'Less stuff needs to get made. Less pointless packaging. Less stuff thrown out, rotting in a rubbish tip,' said Pape.

If buying something someone has previously used doesn't appeal, the Barefoot Investor points out that it will take a lot less time to save up the money to buy something second-hand.

He added that the only real difference between new and second-hand is the packaging - as soon as you buy something it's already second-hand.

Pape gave the example of a teenager saving money from their weekend job to buy a bike.

'A new bike costs $300, and it could take you well over a year to save up for it,' he said.

'Here's what you do. Start searching online and find the same bike as good as new for $50, listed on an online marketplace. 

'You might find one at a garage sale or an op shop. $50 . . . this means you'll be able to buy the bike in the next few months - not next year.'

And if you want it even quicker, he pointed out that anyone can make some cash by selling things they no longer need. 

Figures from online sales site Gumtree say the average Australian family has $5,400 worth of stuff they no longer use just lying around their house - and this could be a goldmine to help you buy stuff you need or save money.

Pape said it would take just five minutes to pick some items that can be turned into treasure by selling it. 'Then you'll use the money you get to buy what you really want,' he said.

'First, set an alarm for five minutes. With the clock ticking, I want you to go on a treasure hunt around your house. You're searching for two or three things you no longer use. Place whatever unused treasure you've found on the kitchen table,' he explained.

'Then ask your parents for permission to sell this stuff. They are in control, so what they say goes (and if you haven't found anything, you could ask for their suggestions).'