Need some emergency cash to close the gap between paychecks this month? Got a car repair that needs to be made so you can get to work? You may find the extra cash you need to meet your immediate needs right in your own closets. You never know what hidden 'gems' you've got stashed there.
Generally, if you haven't used something in the past 12 months, you probably will not in the next 12 months, and you can probably clean it out. If you are keeping things for sentimental reasons, 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 car payment. Take a look in your closets and drawers to evaluate what you can part with to find extra cash.
These days, pretty much anything in good condition is sellable. People enjoy hunting down deals, in person and online. In order of how fast you can get the cash you need for that emergency:
Garage/tag sales. Other than putting up a few posters around town, and your time and effort, it's all pure profit, and is one of the easiest and quickest ways to get fast cash into your pockets for relatively little costs and effort. 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. Of course there are the big general outlets such as EBay, Craigs List, but there are also sites that specialize in specific merchandise, such as Used Instrument Buyer for instruments, Hello Lamode for clothing, or Kiddieo Mall for 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.
Set up at a flea market or swap meet. Getting all your items to a flea market does take effort, and you will pay for a table or space, but you'll meet more potential customers for your goods than doing a garage sale on your own. You can generally even grab a space at the last minute (even the day of) if you find you really need cash in a hurry.
Sell your broken jewelry. For precious metals such as 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 signs in a storefront, a mail promotion, ads in the local newspapers, or posters around 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.
Sell it at auction. Finding just the right auction may take time and research. But, because there are general auctions and specialized auctions, so you may want 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.
Antique dealers: Some dealers are interested in specific items (such as clocks) and others are generalists. Bring your goods in to them and 'show and tell': who knows, maybe you have a painting done by an obscure artist hanging in your kitchen? You may be able to sell a collectible or antique outright to a dealer, or they may take it on consignment.
Sell unused gift cards: It was the thought that counted, but now it's how much cash you can raise that counts. 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.
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.
Generally, if you haven't used something in the past 12 months, you probably will not in the next 12 months, and you can probably clean it out. If you are keeping things for sentimental reasons, 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 car payment. Take a look in your closets and drawers to evaluate what you can part with to find extra cash.
These days, pretty much anything in good condition is sellable. People enjoy hunting down deals, in person and online. In order of how fast you can get the cash you need for that emergency:
Garage/tag sales. Other than putting up a few posters around town, and your time and effort, it's all pure profit, and is one of the easiest and quickest ways to get fast cash into your pockets for relatively little costs and effort. 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. Of course there are the big general outlets such as EBay, Craigs List, but there are also sites that specialize in specific merchandise, such as Used Instrument Buyer for instruments, Hello Lamode for clothing, or Kiddieo Mall for 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.
Set up at a flea market or swap meet. Getting all your items to a flea market does take effort, and you will pay for a table or space, but you'll meet more potential customers for your goods than doing a garage sale on your own. You can generally even grab a space at the last minute (even the day of) if you find you really need cash in a hurry.
Sell your broken jewelry. For precious metals such as 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 signs in a storefront, a mail promotion, ads in the local newspapers, or posters around 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.
Sell it at auction. Finding just the right auction may take time and research. But, because there are general auctions and specialized auctions, so you may want 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.
Antique dealers: Some dealers are interested in specific items (such as clocks) and others are generalists. Bring your goods in to them and 'show and tell': who knows, maybe you have a painting done by an obscure artist hanging in your kitchen? You may be able to sell a collectible or antique outright to a dealer, or they may take it on consignment.
Sell unused gift cards: It was the thought that counted, but now it's how much cash you can raise that counts. 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.
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 fast cash 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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