Make do and mend

Make do and mend

In the current economic climate it's important we take a moment to take stock of our financial situations. Cutting back on everything but the essentials means, for most of us, that we must turn to what we already have; we must attempt to resuscitate that long dead spirit of ‘make do and mend'. Recycling is certainly a more contemporary perspective on this side of frugality, but it's real message is certainly not restricted to putting out a wodge of newspapers and a box of wine bottles once a week. Recycling – via a bygone sense of modesty and prudence – can extend to include old clothes, charity shops, inherited baubles and, at the other end, composting. This is the spirit of sock darning and hand-me-downs; something long superseded by consumerism and self-importance, but that nevertheless rears its head in times of need.

Skills that were long since discarded (or at least thought disappeared) are reappearing amongst the young professionals and others who have come to realise the real disadvantages of needless debt. Along with making do with what you already have, the second hand and antique markets have thrived in recent months, with people turning to cheaper used alternatives; while at the same time exercising their shrewdness and taste through the pursuit of antique bargains.

In fact, taking a look around your house can be a great way of discerning value aside from property and income. As so many television shows have taught us, there might very well be a valuable antique lurking beneath our noses. Though this may be a bit of an exaggeration, there is most certainly treasure to be unearthed in the most unlikely places – you just need to know what you're looking for. And if you do happen upon a Chippendale or some exquisite Titian, after valuing, it's vital you get adequate specialist insurance – something that many of us forget to do in the hunt for contents insurance deals. Kwik Fit Insurance might seem an unlikely source for such a provision, but they're one of the best providers on the market, and certainly come highly recommended, give their website a look to find out about their current home insurance policies.

So, while you're sewing those elbow patches onto your father's tweed jacket and relaxing on an antique chaise longue, you can feel smug in the knowledge that, if it all went up in smoke, you wouldn't lose that valuable nest egg.