- Personal Finance
Finding Money In Your Own Home
There is money all around you.
Money, Money, Everywhere!
Money. It may not in fact be what makes the world go round but it does indeed make the spin a little bit easier to accept, and if you are anything like me you never seem to have enough of it to go around or accomplish anything. That is a sad fact but I am hoping to remedy that issue for the both of us by revealing a startling fact that not everyone knows. There is money all around you right now at this very moment. Right now you are probably scratching your head and wondering where this hidden money could possibly hiding. Maybe you think I have gone a little crazy and just assume random things are hiding wads of cash. That is OK if you did, I totally understand but I promise before you have finished this article you will fully understand what I am talking about. All around you there is money that is just waiting and wanting to be found.
By now you are either further perplexed as to the whereabouts of this strange money or you are lifting furniture in hopes of spotting the cash you never knew you had. While a good hard search of your home will most likely yield some spare change or at best a few dollars I am talking serious cash flow potential. How you ask? Well let's explore what I mean and how we can start to generate some easy cash from our homes. This is a three step method and once you have completed it you will benefit not only from cash but from the fact you have cleaned your home up as well.
Find those items and generate cash
Step 1- Look
Looking is often overlooked as an essential part of any plan but I assure you it is most vital in nearly any endeavor you may pursue. Our first step will be a nice walk though your home. You simply need only to stroll through each room of your home. Look at the things you own. I am sure you see some things that are priceless to you. Things that mean the world and you would actually have trouble living without. Sure you see these things but I want to wager you also saw heeps of things you could easily do without or just serve no real purpose in your life anymore.
We all have these things laying around accumulating dust that at one point we had convinced ourselves we needed them and could not live without them. These items would serve someone else much more than they do us so why not sell them? Why have items in your home collecting dust when they could just as easily be collecting dollars?
So let's look again. Can you see these dusty little money makers just hiding among the cool stuff you own? I bet you can. They are right there in the wide open just waiting to be exchanged for some nice friendly dead president flash cards. So let's break this process down.
Start with your living room. Look around real good. Are there items there you really just don't want or simply do not have a real need for? Gather them in a storage bin or large box. Maybe none of it looks like money just yet to you but it will soon enough. Old candles, picture frames and figurines may seem like a waste of time but someone out there wants your junk and they are willing to pay for it.
After exhausting the look of the living room move on to the next room. Kitchens yield great earning potential in old appliances and decorative items. These items will draw buyers like mice to cheese. Any home interior items have great ability to earn you heavy income. Keep moving until you have collected items from every room of your home. Don't neglect those attics, garages and closets either, they may hide the best treasures of all. Collect your future money in bins and boxes and let's get ready for the next step.
One man's junk....
Step 2- Prepare and Price
Getting our items ready for resell means we need to ensure they are clean and well kept. Buyers love buying like new items and with a little elbow grease even the oldest what not can look brand new. You want to make sure everything is in working order and that you are selling a product that a buyer will not have major remorse over. Sure we are not selling cars and Rolex watches but we are still trying to develop a good relationship with potential buyers who may turn our unwanted clutter to much wanted cash!
After you clean your items you now have the difficult task of figuring out just what you want for them. Pricing an item can be the trickiest part of our plan and I would strongly suggest you use your noggin!
The best place to find good and accurate prices is to do an online search of e-bay and Amazon. Look at the buy it now prices and also remember to look for used prices. Never try to charge new item prices for a used item. There is not a lot of things you won't find on these two sites so it is a good idea to check them frequently on pricing issues.
I won't lie there will be the occasional item that just does not seem to have a value listed anywhere. This means you have to decide what you want for it and what is reasonable. I find that if I am selling an item I gave $50.00 for 5 years ago I am willing to part with it for half of the price I paid. Some items may not be that way.
Remember that collectibles usually increase in value.
Have a flea market adventure.
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Step 3- Time To Sell
While avenues like Amazon and e-bay are very useful I am going to bi-pass them for this particular article and focus more on hands on approaches. I want to list three very essential ways you can sell your items.
- Consignment Shop
- Yard Sale
- Flea Market
These three areas are similar yet very different in how you will approach each one with intention to sell your junk.
It has been a good journey though. We have searched for treasures and prepared them and now it is time to reap the benefits of our treasures. A lot of the times how you sell your item depends on the item itself. There is no rule that states you can't use a variety of the above options to sell and in most cases that is usually the best route to go.
Consignment is basically you putting your items in someone's store and they sell them for you and then they get a certain percentage of the sale. It is vital you read the agreement before signing so you are not getting less then a desired amount for your items. Most of the times 20 percent is the going fee and that is not to bad seeing as these types of places get heavy traffic from would be buyers.
Consignment shops are not for every item though. You want to only use them when you have items that are a bit more on the pricey side. Name brand designer clothes, nice furniture and even artwork are all items that will do rather well in the consignment setting and should be the focus of this particular selling avenue. People who come to these places are looking for a deal but still usually expecting to find upscale items.
Yard sales are great because anything goes. You can sell everything from a kitchen set to comic books at a yard sale. It also gives you a chance to earn 100 percent of the profits. The real catch is prices. Yard sellers are generally a bargain hunting bunch and will expect low prices on every item. Haggling becomes your second language in this environment.
Yard sells are great ways to unload old books, clothes and even toys. Having toys out when a parent strolls by with their kids is sure to fetch you a sale or two. Stuffed animals and dolls do remarkably well in the yard sell setting as will odd ball items such as tools and appliances.
The yard sale is also a great way to unload bulk items. Maybe you have a box of old records. Selling them one by one could take awhile but at the yard sale someone may make you a generous offer on the lot. I like yard sales and will often spend quite a bit when I find one that has things that peek my interest.
One thing you mustn't forget is that neatness counts. Have your items organized and easy to access. People will respond much better to that. You also want to be hospitable and friendly. Share stories and speak to potential buyers. This will greatly increase the chance you have of completing a sell.
Flea markets are like yard sales but a little more complex. A yard sale is usually you selling alone but a flea market means multiple sellers. The key to this route is specializing. Maybe you have tons of old antique glassware. Flea markets would be a great place to appeal to that type of collector and you may get some serious money for those types of items.
Clothes don't really do well here but collectibles will dominate the market. Comic books, trading cards, and toys are big sellers and you can net some major revenue with them. Guns and knives are also huge draws for this particular selling locale.
One big seller often overlooked is movies. VHS and DVD alike can fetch you quite the wad of dough. Just remember with other sellers you will have to have competitive prices to get that sell.
There you have it. Money all around you and you never even knew it, but now you do. The earning potential is enormous if you are willing to really put in the effort. I wish you the best on this task and hopefully you will be counting some greenbacks shortly.