Need some emergency cash to meet the bills this month? If you look in your own closets, you may find the extra cash you need to get through to the next paycheck. You never know what hidden 'gold' you've got stashed in your closets.
As a general rule, if you haven't used something in the past 12 months, you probably will not in the next 12 months, and it should be cleared out. If you are holding onto items, especially those of your children or passed loved ones for the memories, keep in mind that you will always have your memories, but that it's not the memories that will pay your next utility bill or fix that roof. Take a pass through your closets, drawers and pantry to evaluate what you can part with to find extra cash.
People enjoy hunting down deals, in person and online, so these days, pretty much anything in good condition is sell able. In order of how fast you can get the cash you need for that emergency:
Have a tag/garage sale. A pure profit opportunity. This is one of the easiest and quickest ways to get fast cash into your pockets for relatively little costs and effort; other than putting up a few posters, and your time. If good weather is predicted for an upcoming weekend, you can even pull this off quickly. Put it all out there. If it doesn't sell, you can always try to sell it somewhere else.
Online. In addition to the big general outlets such as EBay, Craigs List, there are also sites that specialize in specific merchandise, such as Hello Lamode for clothing ,Used Instrument Buyer for instruments , or Kiddieo Mall for gently used kid's clothing and toys. Search around for a targeted site, and you'll be reaching only the buyers that are interested in exactly what you want to sell.
Set up at a flea market or swap meet. Hauling all your items to a flea market does take a little effort, and you may have to pay for a table or space, but you'll have greater traffic and more potential customers for your goods than doing a garage sale on your own. You can generally even grab a space at the last minute (even the day of) if you find you really need cash in a hurry.
Sell your broken jewelry. For precious metals such as gold and silver, there are many opportunities. Some local jewelry stores buy metals, there are online mail-in programs, traveling buyers, check cashing stores, pawn shops and lately, even jewelry selling parties! Look for signs in a storefront, a mail promotion, ads in the local newspapers, or posters around town.
Visit pawn shops. Take a lesson from the TV show "Pawn Stars." Research your items first so you will have a general knowledge of what they are worth at 'retail.' Expect to negotiate, and to take lower than the number you had in your head, since the store needs to make something on their resale, but you could walk out with the cash you need in your pockets.
Bring to consignment shops. While consignment shops will charge you a fee, usually a percentage of the sale price that can be up to 30 percent, the effort is minimal since they are doing the selling for you. And even if you sell something for $100, you'll still net $70 which could offset at least one utility bill. These days you'll find shops specializing in children's wear, furniture, designer clothing and used sports goods.
Sell it at auction. Finding just the right auction may take time and research. But, because there are general auctions and specialized auctions, so you may want to find a specialized auction which will attract more customers willing to pay more for exactly what they want. Expect that auctions though, will charge a commission to the consignor (seller), and this may be a fixed rate or based on the size of your consignment and/or its rarity. Again, this can be 'found' money to help you meet a cash flow need.
Antique dealers: Some dealers are interested in specific items (such as clocks) and others are generalists. Bring your goods in to them and 'show and tell': who knows, maybe you have a painting done by an obscure artist hanging in your kitchen? You may be able to sell a collectible or antique outright to a dealer, or they may take it on consignment.
Sell unused gift cards: It was the thought that counted, but now it's how much cash you can raise that counts. Online traders such as Raise, SwapAGift, and GiftCardBin are outlets that facilitate the sale of unused gift cards. You'll receive a percentage of the face value based on a bid. Most will deal in all major retailers, restaurants and other chains, and selling can be done online and through the mail.
From clothes to jewelry to kids toys and sports equipment - clean it out and sell it to find the cash you need. Chances are there are plenty of items that you are currently not using, that can help you get the fast cash you need now to offset unexpected expenses or get to the next paycheck. And an added benefit: there will be less for you to transport the next time you move.
As a general rule, if you haven't used something in the past 12 months, you probably will not in the next 12 months, and it should be cleared out. If you are holding onto items, especially those of your children or passed loved ones for the memories, keep in mind that you will always have your memories, but that it's not the memories that will pay your next utility bill or fix that roof. Take a pass through your closets, drawers and pantry to evaluate what you can part with to find extra cash.
People enjoy hunting down deals, in person and online, so these days, pretty much anything in good condition is sell able. In order of how fast you can get the cash you need for that emergency:
Have a tag/garage sale. A pure profit opportunity. This is one of the easiest and quickest ways to get fast cash into your pockets for relatively little costs and effort; other than putting up a few posters, and your time. If good weather is predicted for an upcoming weekend, you can even pull this off quickly. Put it all out there. If it doesn't sell, you can always try to sell it somewhere else.
Online. In addition to the big general outlets such as EBay, Craigs List, there are also sites that specialize in specific merchandise, such as Hello Lamode for clothing ,Used Instrument Buyer for instruments , or Kiddieo Mall for gently used kid's clothing and toys. Search around for a targeted site, and you'll be reaching only the buyers that are interested in exactly what you want to sell.
Set up at a flea market or swap meet. Hauling all your items to a flea market does take a little effort, and you may have to pay for a table or space, but you'll have greater traffic and more potential customers for your goods than doing a garage sale on your own. You can generally even grab a space at the last minute (even the day of) if you find you really need cash in a hurry.
Sell your broken jewelry. For precious metals such as gold and silver, there are many opportunities. Some local jewelry stores buy metals, there are online mail-in programs, traveling buyers, check cashing stores, pawn shops and lately, even jewelry selling parties! Look for signs in a storefront, a mail promotion, ads in the local newspapers, or posters around town.
Visit pawn shops. Take a lesson from the TV show "Pawn Stars." Research your items first so you will have a general knowledge of what they are worth at 'retail.' Expect to negotiate, and to take lower than the number you had in your head, since the store needs to make something on their resale, but you could walk out with the cash you need in your pockets.
Bring to consignment shops. While consignment shops will charge you a fee, usually a percentage of the sale price that can be up to 30 percent, the effort is minimal since they are doing the selling for you. And even if you sell something for $100, you'll still net $70 which could offset at least one utility bill. These days you'll find shops specializing in children's wear, furniture, designer clothing and used sports goods.
Sell it at auction. Finding just the right auction may take time and research. But, because there are general auctions and specialized auctions, so you may want to find a specialized auction which will attract more customers willing to pay more for exactly what they want. Expect that auctions though, will charge a commission to the consignor (seller), and this may be a fixed rate or based on the size of your consignment and/or its rarity. Again, this can be 'found' money to help you meet a cash flow need.
Antique dealers: Some dealers are interested in specific items (such as clocks) and others are generalists. Bring your goods in to them and 'show and tell': who knows, maybe you have a painting done by an obscure artist hanging in your kitchen? You may be able to sell a collectible or antique outright to a dealer, or they may take it on consignment.
Sell unused gift cards: It was the thought that counted, but now it's how much cash you can raise that counts. Online traders such as Raise, SwapAGift, and GiftCardBin are outlets that facilitate the sale of unused gift cards. You'll receive a percentage of the face value based on a bid. Most will deal in all major retailers, restaurants and other chains, and selling can be done online and through the mail.
From clothes to jewelry to kids toys and sports equipment - clean it out and sell it to find the cash you need. Chances are there are plenty of items that you are currently not using, that can help you get the fast cash you need now to offset unexpected expenses or get to the next paycheck. And an added benefit: there will be less for you to transport the next time you move.
About the Author:
Sophie Taylor is communications manager for USA Payday, an online resource for consumers needing payday loans and cash advances to carry them over between paychecks. Sophie frequently writes for magazines and blogs on topics of financial literacy, frugal living and household budgeting tips, and her blog may be found at USA Payday. Unique version for reprint here: Clean Out And Sell It To Find Your Own Cash Advance.
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