To continue on with the theme of downsizing to pay off your debt, I thought I’d discuss a method of earning some extra money that can help you pay off debts and also that is a good fit for this time of year – a common summertime event, a good ol’ garage sale!
If you are like me, you probably have some clutter around your home and many items that you are likely not to really need. Sometimes, you may just wish to get rid of all of this unwanted clutter – however if you are struggling with paying off your debts, then perhaps having a garage sale is the way to go. Selling off what you don’t need may just be the ticket to relieving some of your debt pressure.
Now that the weather is nice, many people are out and about looking for yard sales or simply out for weekend drives. Whether they visit your garage sale by chance or on purpose – either way you can benefit financially as well as free yourself of clutter – clutter that you just might find has hidden value. If you really want to step up your yard sale success and maximize the opportunity to get the most out of your sale – here are some steps you can follow.
1) Have a System
When you are going through your items around the house you can designate piles for the items you want to sell, the items you want to keep, and the items you will just get rid of. This process can start several weeks before the actual sale and this way you have plenty of time to be organized. For the items that in the end don’t sell – you can plan to immediately list them on Kijiji, eBay or craigslist and this can not only save you time, but also can be an effective way of making some extra money.
2) Promote your Sale
Methods of attracting yard sale buyers, oftentimes lies with the quality of your signs. Bright and well written signs are more likely to be spotted by passers-by and even. This will get the people there and once there – you have a higher probability of making more sales versus if only a few visitors make it out. You can also post your garage sale ads in the local newspaper as well as on free local websites – this once again will drive the traffic to your sale and help you make even more money.
3) Apple Money Directly to Debts
Being committed to paying off some of your debts with your garage sale money as soon as possible is important to ensure that you don’t spend the money elsewhere as other payments and expenses are likely to quickly arise.
While a garage sale may not always mean you will rake in a huge amount of money, the point here is that every little bit helps and there is money to be found around your home in the form of unwanted/unused items. Regardless of how much you make this process will mean you have the opportunity to pay down some more of your outstanding debts and have more money to devote to your bills compared to the position you were in before.
If you are also like me, you may find it hard to part with certain items due to a sentimental attachment. Whether these items are clothing, books, CDs or other keepsakes – maybe you choose to keep some and part with other items that you know you don’t need anymore. This is definitely easier said than done, however I truly believe that in the end you will feel a whole lot better after paying off debts – so much so that your spirits will be lifted and you won’t miss the items quite as much, if at all. If getting your finances in order is something you have been working towards, then having a garage sale this summer may be just what you need to get a better handle on your current debt levels.