Coming up short this month or need some emergency cash? Got a leaky roof that needs fixing? Look in your own closets to find the extra cash you need to meet your immediate needs. 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.
Anything that you've got that is in good condition can be sold through one outlet or another. People enjoy hunting down deals, in person and online. In order of how fast you can get the cash you need for that emergency:
Have a garage/tag sale. 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 around town, and your time and effort, it's all pure profit. With good weather 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.
Go Online. Everyone knows the big general outlets such as EBay and Craigs List, but there are also sites that specialize in specific merchandise, such as used instruments, books, or gently used kid's clothing and toys. Search around for an appropriate site. There's even a free app for that: Poshmark makes selling clothes on line easy.
Flea markets and swap meets. It does take a little effort to haul all your items to a flea market, and you will probably 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. If you find you really need cash in a hurry, you can generally even grab a space at the last minute (even the day of).
Sell your broken jewelry. For both 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 ads in the local newspapers, signs in a storefront, a mail promotion, or posters in 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.
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. These days you'll find shops specializing in children's wear, furniture, designer clothing and used sports goods. And even if you sell something for $100, you'll still net $70 which could offset at least one utility bill.
Put it in an auction. There are general auctions and specialized auctions, so you may want to do a little research 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.
Visit antique dealers: You may be able to sell a collectible or antique outright to a dealer, or they may take it on consignment. Some are interested in specific items (such as fine arts) and others are generalists. Bring it in to them and 'show and tell': who knows, maybe you have a painting done by an obscure artist hanging in your kitchen?
Unused gift cards: 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. It was the thought that counted when you received that gift, but now it's how much cash you can raise that counts.
Chances are there are plenty of items lurking in your closets and drawers that can help you get the fast cash you need now to offset unexpected expenses or get to the next paycheck. From clothes to jewelry to kids toys and sports equipment - clean it out and sell it to find the cash you need 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.
Anything that you've got that is in good condition can be sold through one outlet or another. People enjoy hunting down deals, in person and online. In order of how fast you can get the cash you need for that emergency:
Have a garage/tag sale. 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 around town, and your time and effort, it's all pure profit. With good weather 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.
Go Online. Everyone knows the big general outlets such as EBay and Craigs List, but there are also sites that specialize in specific merchandise, such as used instruments, books, or gently used kid's clothing and toys. Search around for an appropriate site. There's even a free app for that: Poshmark makes selling clothes on line easy.
Flea markets and swap meets. It does take a little effort to haul all your items to a flea market, and you will probably 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. If you find you really need cash in a hurry, you can generally even grab a space at the last minute (even the day of).
Sell your broken jewelry. For both 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 ads in the local newspapers, signs in a storefront, a mail promotion, or posters in 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.
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. These days you'll find shops specializing in children's wear, furniture, designer clothing and used sports goods. And even if you sell something for $100, you'll still net $70 which could offset at least one utility bill.
Put it in an auction. There are general auctions and specialized auctions, so you may want to do a little research 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.
Visit antique dealers: You may be able to sell a collectible or antique outright to a dealer, or they may take it on consignment. Some are interested in specific items (such as fine arts) and others are generalists. Bring it in to them and 'show and tell': who knows, maybe you have a painting done by an obscure artist hanging in your kitchen?
Unused gift cards: 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. It was the thought that counted when you received that gift, but now it's how much cash you can raise that counts.
Chances are there are plenty of items lurking in your closets and drawers that can help you get the fast cash you need now to offset unexpected expenses or get to the next paycheck. From clothes to jewelry to kids toys and sports equipment - clean it out and sell it to find the cash you need 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
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