A key part of being money savvy is knowing when to cut corners.  It goes much deeper than clipping coupons and choosing generic over name brand goods.  Buying items that you don’t plan to use regularly or for a long period of time is wasteful.  You’ll be much better off just renting them when the need arises.  Here are seven things you can save money on by renting.

Formal dresses

You don’t have to spend a million bucks to look like you did.  If designer duds are currently out of your budget, rent them instead.  With Rent the Runway you pay a fee and choose from thousands of options.  Whether you need something for work, play or a special occasion they have you covered.

Designer handbags

No outfit is complete without the right purse.  The next time you want to make a big impression head over to Bag Borrow or Steal.  You’ll be able to rent the handbag you like for a one-month period.  Once time is up you can move on to the next item on your wish list or renew your rental.

Power tools

Unless your home is brand new, there’s always going to be something that needs upgrading or fixing.  No matter what’s on your to-do list, Home Depot can help you get the job done.  You can rent power tools such as tile saws, demolition hammers and paint sprayers.  Once the job is complete, you’ll return the items to the store and go on with your life.

Caskets

A casket is usually the most expensive item in a traditional funeral.  The average casket costs around $2,000 but some can go for $10,000 or more.  It sounds weird but you can reduce your funeral expenses by renting a casket.  The body will be placed in a simple wooden box which will sit inside of the casket.  Once the service is over the wooden box can be removed for burial or cremation.

Wedding cakes

Last year the average cost of a wedding cake was $528.  An easy way to minimize the expense is to choose a rental cake for your big day.  It will look like the real deal but only you and your spouse will know it’s fake.  How it works is the whole cake except the bottom tier will be made of Styrofoam and covered in fondant.  Your real cake will be hidden in the bottom for you to cut or feed your partner.  Meanwhile your guests will be served a regular sheet cake.

Textbooks

College Board estimates that the average college student spends more than $1,200 a year on books and supplies.  Fortunately, you can pay a fraction of the cost by choosing to rent your textbooks from sites like Chegg.  Once you’re done with the book just send it back using their prepaid shipping label.

Camping gear

No matter how much you claim to love camping, you probably don’t go regularly enough to justify buying your own equipment.  Save yourself some cash and storage space by renting what you need from stores like REI and Mountain Side Gear Rental.