Mo’ Money Monday

One huge part of getting out of debt is finding more money to pay towards your debt! Mondays around here are going to be devoted to different ways we can add money to our monthly budget. Send over any suggestions or creative ideas you have!

Today’s Mo’ Money idea is the Garage Sale!

First, let me start with this caveat – I hate garage sales. I haven’t had one in forever – the few we have had recently have all been managed by my husband. I don’t have the patience for it, and we never earn back enough money to make it worth all the time and hassle.

However, some people swear by them and do very well. So here is what I think to be a very good compromise between the two positions:

It holds the same basic ideas as the traditional garage sale – getting rid of your stuff and making money at the same time – while eliminating all of the hassle. A few ways to work it:

 

eBay, Craigslist, Amazon, or a local classified site

List your items individually on any of these sites. My personal favorites are eBay and our local classified site, southeasttexas.com. We can get immediate results from each of these two.

Pros:
- Sell items as you come across them
- Local sites means no shipping; if you sell via eBay, etc., make sure to charge enough to cover shipping
- No early-Saturday-morning misery

Cons:
- Relisting items if they don’t sell can be a pain
- eBay, Amazon, etc. all charge small fees for their services
- If you miscalculate shipping, you can lose profits

Rating 7/10 – Best used for larger money-makers like electronics (video games, used iPhones, etc.)

A Virtual Garage Sale Website

Instead of using someone else’s site, you could always just create your own site!

Pros:
- Full control over selling your stuff
- No limits or fees from other sites

Cons:
- Time-sucker!
- Gotta know what you’re doing…

Rating 3/10 – Unless you already know html and have your own site, this could really be a pain. BUT if you’ve already got the site up, maybe you could do pretty well with it.

 

Facebook

Facebook is an awesome way to sell your stuff. A couple of ideas:

  • Just tell your friends you’re selling an item! See who responds.
  • Set up a photo album and name it “Virtual Garage Sale.” Post pictures, descriptions, and prices. Share some of the photos on your timeline to highlight them.
  • Join a local group whose purpose is to sell things in your area. I’ve sold buckets of baby clothes and other baby equipment this way.
  • Facebook MarketPlace – this is a Facebook app run by Oodle where you can list your items for sale. I haven’t tried it out myself, so I’m not sure how it works. Let me know if you’ve tried it – I’d love to hear your thoughts!

Rating 8/10 – Easiest way to sell your stuff that’s going to move quickly. I’ve had good success with some of these methods.

So those are some thoughts on selling your stuff via the internet. It’s my favorite way to sell my junk. What do you think?

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