Wednesday, August 2, 2017

SELL ITEMS TO COVER THE COSTS OF NEW PURCHASES

This is a great strategy for saving money. Like most people, you already use this strategy for large ticket items so, why not use this strategy for less expensive items like lamps, furniture, dishes, pans, etc? You may already do this but, what about that old junk lawnmower or, junk pile for that matter?

In fact, it is just not enough to sell an item you are replacing. Instead you should try to sell enough items to fully cover the cost of the new item. For example: If you have a lawnmower that you sell for $25.00 but, your new lawnmower costs $200.00, don’t just cough up the other $175.00 out of savings. Find a like amount of stuff to sell to fully cover the cost of the purchase. Sell that old doll buggy, computer, bicycle or anything else you have that you’re not using. This way you have saved yourself $175.00 by selling things you are just storing and not going to miss.

How to sell this stuff? Well, use rummage sales, yard sales, eBay and other Internet sellers, pawn shops, second hand dealers, advertise, word of mouth, for sale signs, and fix it shops (they always want parts). One note about EBay, you don’t have to have an account with eBay to sell items eBay. There are eBay stores in almost every city who, for part of the sale price, list host your items for you on eBay. When the item sells, the host will send you a check.

Some people keep items they are not using around just in case they should ever need them. This is fine when it comes to tools like hammers, screwdrivers and power tools but, most items should be sold. One reason not to hang on to stuff is that the items deteriorate or get damaged just sitting around. When stuff falls out of the closet or the dog chomps on it a few times or, the item gets weathered or wet, it looses value to a potential buyer. Then, as the items become progressively damaged and deteriorate over the years, they become less and less valuable until they will inevitably be rejected by even Goodwill, (Always think of Goodwill before throwing things out). In retail we used to call this shop worn. Shop worn is when an item sits on a shelf so long that it looks like it had been returned a dozen times when it had never even been used. At which time, a really savvy buyer would come along, recognize value in the item and offer a fraction of the original price for the item. Otherwise, the item will be marked down on clearance at a fraction of the original price or, if it has deteriorated too much, thrown in the dumpster.

So sell, sell, sell, to trade up to better items or different items. Get rid of your unwanted stuff (junk) and think of all that extra space and especially, the extra money.

5 comments:

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