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This is a money making tip for the 50/50 Challenge.
Today's tip deals with making money from stuff you already have around the house.
Why Do You Want to Sell?
It can be hard to find extra money, but if you have a lot of stuff at your place, you may want to sell it to get some of the money you spent back.
Some financial goals you can reach by selling your junk include:
- Getting your emergency fund up and running
- Save some cash for your car replacement fund
- Pay down or off a credit card
- Use the money to contribute more to your retirement account
The point is you can remove junk from your home and you can put that money to good use.
What to Sell
The hard part many times is deciding what to sell. You're looking for items that people want or use. Looking for things to sell?
Here is a list of you can make money from:
- Rarely Used Clothes: Most of us have too many clothes in our closet. Soem of it isn't being used either because it's in bad condition (thrown away), out of style (throw away), or not our size (sell).
- Collectibles: Some collectibles can fetch you a decent amount of money, provided that you kept them in great condition.
- Instruments: If you no longer are using an instrument, let someone else experience the joy.
Save yourself some time by checking on Ebay and searching for similar items. If there is a market for it you'll have a better idea on how fast it'll sell and how much to sell them.
Where to Sell
Where can you sell your stuff? Have you tried considered these places?
- Yard Sale
- Pawn Shop
- Craigslist
- Ebay (and other auction sites)
Sell where you feel most comfortable. Some people prefer working with someone face to face and while others just want it sold online. Just make sure you don't get scammed.
Another tip? Don't be too attached to the items you're selling or you may have a hard time finding the right price for it. I've seen some people overvalue their possessions and lose out on sales.
Thoughts on Selling Your Stuff for Cash
How many of you have sold your old stuff for cash? Were you able to get a good deal? How did you maximize the sale price?
If you're looking at selling your stuff online, but you don't know where to start I suggest using Baker's guide on selling your junk.
The guy is a master – his family sold their junk and spent some time exploring the Pacific.
