So how much cash have you got lying around your home? You probably have a few nickels and dimes here and there, maybe? But you could accumulate more than just a few by turning to some online ideas — some of which I tried as money making hobbies.
How About Making Money From Junk? Some Tips
Have you got extra clutter you’d like to do away with? Why not “re-purpose” it? We can all make money from junk and I’ve done just that myself thanks to the power of the auction site eBay. Everyone has heard of eBay: more and more people are joining it for the purpose of selling their goods on it each day. My partner and I actually built up a business selling stuff on there, and it all started by selling off a few old things we didn’t need or want any more. Here are a few tips to ponder:
1. Look for used items that still have value.
To start with, we focused on things we thought had a value – DVDs, old videos, that kind of thing. And we sold a lot of them during our first week on eBay as proper sellers. We brought in several hundred dollars from around fifty different auctions over a ten day period – not bad for starters and it made us think about what else we could sell as well.
2. If at first you don’t succeed, keep trying!
A big point I want to make: the title of this article – making money from junk – was chosen deliberately. You see, I always thought only certain things would sell on eBay. But the old saying that you can sell virtually anything and everything on the site did turn out to be true. I can’t recall the number of times we listed something we were sure would fail miserably, only to find that it would sell for a nice amount of money. And there were equally occasions when we tried and failed to sell something a couple of times, but where lucky enough to sell it for a nice sum on the third try.
3. Make a running list of things you don’t want anymore.
One more important thing I learned was to make a list of all the things we wanted to get rid of. Not the things we thought would sell – just the things we didn’t want any more. Then I looked up those items on eBay to get an idea of what we could expect to get for them. This doesn’t necessarily mean that you will get the same amount of course, but it gives you an idea of how you can pick up some pointers for how you’ll position your eBay posting.
4. Check out your local yard sales too!
Another point I should make is that eBay shouldn’t be your only channel for selling. You may also want to try yard sales and similar forums. Garage sales are another good bet for trying to clear out some old items you don’t want any more. You’d be amazed at what sells!
We once had an old collection of towels that had seen one too many days of washing up in the kitchen. We thought they were fit for the bin but we added them to the pile anyway. Someone came along and promptly bought the whole lot for a couple of dollars. They were ideal for them as they were looking for cleaning rags! This just goes to show that you can never be quite sure of what will attract a thrifty customer.
These days, I always try to sell something first before considering any other alternatives for getting rid of an item. We’ve brought in hundreds of dollars over the last two or three years, enough to pad our high interest savings accounts with extra funds that we wouldn’t have had otherwise. Try it! You might just catch the bug.
This guest post is from SVB from The Digerati Life, who writes about various financial articles on frugality, credit management and investing. Check out her review on discount brokers as well as tips on how to get your first credit card.