One of the ways people make it out of debt and on to building wealth is by getting rid of crap they no longer need or want.
Let’s face it: you probably have a crapload of stuff in your house, garage, basement or rented storage unit that you rarely ever touch unless you accidentally bump into it on your way to someplace else.
By taking some time to go through that stuff you can gain quite a bit of money which you can then sock toward paying off that burdensome debt that’s keeping you from reaching your REAL dreams.
Dreams such as having the ability to not be tied to your 9-to-5, to take vacations or sabbaticals as needed, or dreams to retire long before the typical retirement age of 65.
So, are you ready to get rid of that stuff so you can use the money for things that really matter to you? Let’s go.
Organize Your Crap So You Can Sell Your Crap
This is the first step to making big bucks by getting rid of the stuff you don’t need. Go through every room, closet and drawer in your house.
Put your stuff into four piles:
- Stuff you’ll keep
- Things you’ll throw away
- Stuff you’ll give away
- Things you’ll sell
The stuff you’ll keep goes neatly back into a closet or drawer, where you can find it quickly the next time you’ll need it. Stuff you’ll throw away goes, obviously, into the trash.
The stuff you’ll give away goes to your favorite charitable organization or thrift store. And the stuff you want to sell will be advertised in several different ways.
Before you advertise the stuff you want to sell, remember to clean it up real nice and write some awesome descriptions that will make people feel like they just can’t pass it up. Also, check other listings for similar items to find a competitive price for the stuff you sell.
The Most Popular Ways to Sell Your Stuff
Believe it or not, there are dozens of places where you can sell your crap. Here are some of the most popular, and some that you may not have heard of.
We’ll start with four of the most popular ways to sell your stuff and move on from there.
You’ve probably heard of eBay, and you may have even sold or bought some stuff on eBay. Listing your stuff for sale on eBay is pretty easy, but you have to remember to factor in shipping costs, ease of shipping and fees that eBay charges when you list your item and when you sell your item.
eBay is great for selling items that are easy to ship because you get a wider variety of people viewing your for-sale items.
Craigslist is great for selling your crap because it’s local and it’s free. No listing fees or selling fees like you’ll find with other sites. Just list your stuff, pick a safe and public place (if possible) to meet your buyer, and get your cash.
3. Facebook Group
Many neighborhoods have Facebook groups where people can list stuff for sale. The great thing about selling stuff through a Facebook group is that your buyers will likely be nearby, and again, no fees.
4. Garage Sales
Yep, garage sales are still popular everywhere. With more people starting to become aware of how they spend their money, the eagerness to get what they need at a great price keeps growing. Here are some keys for getting things sold at a garage sale.
- Organize your items, make sure they’re clean and present them well
- Price things clearly and competitively – a standard price is ten percent of retail for smaller items, and up to 50% of retail for quality, name brand or high cost items
- Be willing to negotiate. Come down in price or offer to throw in another item or free delivery
- Be friendly. Many times a friendly demeanor and pleasant conversation will clinch a sale
Also, make sure plenty of people know about your garage sale by posting signs on prominent or busy roadways and advertising on Craigslist or in a local paper.
Other Online Sites for Selling Used Stuff
Although the venues mentioned above are great for selling your stuff, there are also other online sites you may not have heard of for selling used items. Here’s the scoop on a couple of them.
Bonanza is a selling site that has a lot in common with eBay. The bonus? Fees are lower. Their site will tell you that over 12,000 people voted Bonanza as the best place to sell your stuff online in 2016.
eBid is an auction site similar to eBay, only with lower fees. You’ll find a wide variety of stuff for auction on eBid, from ATVs and ATV accessories, unique cars such as classic cars and commercial vehicles, and basic stuff like clothing, electronics and accessories.
eBid might be a fun site to try out if you have stuff to sell that’s unique or collectible too.
Other In-Person Ways to Sell Your Stuff
There are other ways you can sell your stuff besides the avenues mentioned above.
7. Advertise to Your Inner Circle
Send out a mass email to your family and friends or put a post on your personal Facebook account. If it’s allowed, put a sign up for larger items at your workplace bulletin board.
Also for larger items, see if you can put a notice on billboards at local coffee shops and restaurants that you frequent.
8. Consignment Stores and Pawn Shops
Consignment stores and pawn shops are another way to sell your stuff and get cash. Pawn shops can be great because you get your cash on the spot, but be prepared to take a lower price. Jewelry and electronic items generally go well at pawn shops.
Consignment shops might help you get a bit more cash, but you’ll have to wait until your item sells. Consignment shops can be good venues for selling name brand clothing and accessories, as well as household decorative items or furniture.
Then – and this is the most important part – take the money you earn by selling your crap and make one whopper of a payment toward your consumer debt balances.
We prefer the debt snowball method, but whatever works for you is fine as long as you are using the cash to get out of debt and free yourself from the slavery of those seemingly endless monthly payments.
And after you’ve sold all of that stuff that’s taking up space in your home and made that massive payment cutting down bunches of debt, let us know about your “sell your crap” success story by leaving a note in the comments.
Let’s kick that debt to the curb!