This article is a guest contribution by Jenny Newcomer. Jenny is a woman who wears many hats! She runs a business which designs and sells eco-friendly organziational products (how else could someone juggle 3 businesses and 2 kids?). In addition, she finds time blog over at LobotoME and even get in the occasional tweet!
When I say I sold my stuff, what I really mean is I sold my crap. Crap that I shouldn’t have bought in the first place.
Earlier this year, I knew it was time to get rid of my remaining school loans once and for all. I’ve added two kids to the mix recently and judging by the estimates in cost of college, I’ll be shelling out $100,000 per kid in 18 years even for state college tuition.
To add insult to injury, I’m not even using either of my two degrees in my daily life right now. Like I said, it’s time to put these loans behind me!
The problem was how?
Our spending plan was already tight. I didn’t want to tap into any of our savings. It certainty wasn’t the type of emergency that dictated tapping the emergency fund. And the fees made withdrawing from our IRA and expensive option. On the income side, we already own 3 business and are raising 2 young kids, so getting another “j.o.b.” or starting another side project seemed down right insane.
I had a burning desire to get these loans out of my life, but didn’t now how it was going to happen.
But right after the holidays a bell went off in my head. As I began to look around our house and clean up after the post holiday madness, I realized how much stuff we owned. Bags, shoes, dvd’s, books, ipods, old laptops, old kayaks, skis that didn’t fit, bikes that we no longer used, the list went on for miles…
This was stuff we didn’t love and certainly didn’t need. So I started listing about 10 items a week on Ebay (and a few larger items on Craigslist). Some weeks when I had a few extra hours I’d list more and other weeks I didn’t have time to list anything.
I kept at it, though, and slowly but surely things started to sell. Every time my Paypal account reached $500 or $1000 I transferred it over to put an additional payment towards my student loan balance. Little by little the amount owed kept going down. When I got it under $10,000, I was stoked and motivated. Over the next few months, I saw it decrease to only $5,000, then $1,000, and then before I knew it… $0.
Since I’ve paid off the loan, though, I haven’t stopped! I’m selling more stuff as we speak to pay for plane tickets to Mexico this winter.
Here come the excuses…
I hear them all the time…
- “I don’t have anything to sell.”
- “No one wants my stuff.”
- “I don’t have time to learn how to sell stuff online.”
The truth is nearly everyone has stuff they can sell. It’s much easier than you think and you’d be absolutely shocked at the prices people will pay for your neglected possessions!
Baker’s Note: I will chime in here to second this section. Courtney and I made a lot of excuses early on and assumed we had nothing of value. What we thought would only be a couple hundred bucks turned into well over a thousand once we started listing things! It’s not hard. Other people will buy your crap. 
Basic tips to get the ball rolling…
- Take stock of your inventory! Go through your house, basement, and garage and make a list of items you could sell. Gather smaller items into a pile in part of your house or garage. Think beyond just clothes – look at tools, small appliances, sporting equipment, books, craft supplies, kids toys, etc. At the same time you are doing a selling inventory, collect items that don’t have much re-sell value but that you could donate to a local shelter or thrift store. You can de-clutter, help a good cause, and get a tax write-off for these. If I think an item will sell for under $20, I usually just donate it to the local women’s shelter.
- Set-up your Ebay and PayPal accounts. Many of you might already have these. They are very easy to set-up by visiting Ebay.com and PayPal.com. You may also want to create a basic Craiglist account for bigger items that may be hard to ship.
- Take great pictures! The better the picture (and the description for that matter), the better the selling price. It’s as simple as that. If you don’t have a digital camera borrow one from a friend.
- Estimate shipping costs. At this point get an accurate estimate on shipping costs. You can check shipping prices online at www.usps.com or www.ups.com. This step is often overlooked, but is important to know so you don’t lose money on shipping the item.
- Check ‘Completed Listings’. Next check to see what comparable items sell for (you can search for an item and then click on “completed listings” on the left hand side for items that have ended). This will help you to determine a starting price and/or expected market value for your item.
- Create your listing! There are many ‘advanced’ techniques, but I like to keep it simple. I list all of my items on Sunday’s for 7 days (so they end on Sunday and not mid-day on a workday). I skip the extra ‘upsells’ like bold or premium listing to minimize my cost associated with listing the item.
- Check your messages at least once a day. Sometimes you’ll get messages from potential buyers. They might want to clarify something or have a question about shipping and bidding procedures. More bidders means higher end prices for you.
- After the sale, ship the items promptly and leave feedback for the buyer. Be sure to help avoid negative feedback (and honor the buyer’s purchase) by shipping the items quickly after the buyer has paid in full. Normally the quicker you can ship, the more likely they will leave you a raving review!
Here is the most important part of all, though: Resist the temptation to use the money that you just earned to buy MORE stuff! Ebay can be a blessing and a curse. Use it to your advantage!
Baker’s Note: Before we left for the trip, Courtney went insane on Ebay, Craiglist, and at local garage sales. There are plenty of ‘advanced’ tips for maximizing these sites, but Jenny’s personal experience provides a create basic guide for those looking to get started. For those wanting to jump in even deeper, check out this recent killer guest post featured by Ramit Sethi.
What are your own tips for selling on sites like Ebay and Craiglist? Have you had success purging your unused clutter like Jenny and me? Are any excuses keeping you from cashing in? Help everyone out by sharing your experience below!
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I am definitely at that point where it is time to get rid of stuff because the itch to be debt-free is rather annoying that I need to take care of it. I’m ready to cut the cell phone bill to a bare minimum, rid of the cable tv, sell all our crap (we can always buy later), and hit the thrift stores for my clothes. That is a great article. Very inspirational, as I would love to see my student loans go to zilch.
.-= Money Funk´s last blog ..How to Make a Budget =-.
Everyone, no matter what, has something they can sell that someone else wants. Period. While I have been giving away most of my stuff to Goodwill, I do take the time to sell the more expensive stuff. In fact, I just sold 1 of my 2 computers for $900! What does 1 person need 2 computers for? Great article, and hopefully an inspiration to those looking around asking themselves “what could I possibly sell?”
I’m about to go back into selling it off mode. I consider my stuff very minimal, but I’m amazed how much crap we have.
I’m trying to figure out what the best way to sell certain items is though. I’m thinking of using a combo of ebay, craigslist, garage sales, and consignment shops.
Hoping I can come up with about 5,000.
Great post, thanks for getting me motivated!
.-= Kelly´s last blog ..12 tips for feeding picky eaters =-.
Hey Adam!
Cool post! I have never tried selling things on ebay, but I have a bunch of stuff lying around that I would love to get rid of. I’m going to give it a try
Thanks!
.-= Diggy – Upgradereality.com´s last blog ..Inspirational and Awesome Quotes =-.
I’ve been contemplating doing this for a couple weeks now. Thanks for the kick!
.-= Lakita´s last blog ..Dance Ministry Ethics #3: Self Promotion =-.
This was helpful! I’ll try to make an inventory of things I own to sell on ebay to pay off some debt I have.
.-= Oscar – freestyle mind´s last blog ..Freestyle Mind is Now Uncopyrighted =-.
I love Craigslist and we recently had a garage sale to get rid of some of our “stuff”! We made over $500. I need to get on ebay and start posting items. I have not done that yet, it’s a little more indimidating to me. Thank you for this post and the steps, I will get going on ebay very soon. I know I have many more things I can sell and that I need to get rid of. What a great story that you sold a lot of your “stuff” to pay off your loan. Think how many people have hundreds or thousands of dollars worth of stuff just sitting in their closets, attics or garage. Thanks for the inspiration.
.-= Michelle Traudt´s last blog ..Preparing Your Kids For The Path =-.
Wow, that’s well done! That’s a lot of clutter to sell!
I’ve bought and sold 15 cars on Craigslist in the past 10 years, and it is such a wonderful site. Buyers beware though.
It just goes to show that we tend to accumulate more junk and clutter as time goes on. We need to just stop consuming and enjoy what we already have.
.-= Financial Samurai´s last blog ..You’re Rejected! How I Use Rejection To Motivate Me Every Single Day =-.
Once you get into it selling items on ebay is pretty simple. I made baout $300 dollars over the summer selling items I knew could fetch some cash while I was packing up for my move out of my parents house. Now I’m thinking about all the things I have in storage right now and I can’t wait to move to my new place and unpack and make piles of sell and donate items. I’m going to try for the simple uncluttered living and if I can make some moolah in the process, all the better!
.-= MK´s last blog ..Spend a little, save your sanity? =-.
I’m just getting back into the swing of selling stuff on ebay, and I’ve been able to move a few things on Craigslist. I find that if I can’t sell something locally on Craigslist after listing it twice (I list it, wait a week until the listing expires so it doesn’t get tagged as a spammy repost, then list it again), then I’ll move it to ebay and see what I can get.
I think one of the keys to bear in mind is that people are usually shopping ebay for a deal, so if you list at $0.99, you may be selling something at well under what you’d like. However, any money is better than no money (depending on the item), so you just need to be sort of zen about it.
Most often, I’ll list things at a starting price of $0.99, so I don’t pay a listing fee, unless I really, really want a certain price for it, in which case I’ll start it at $0.99, then pay the small fee for a Buy It Now button/price on the same listing. I find this attracts the “I hate suspense” shoppers who don’t want to wait until the auction part is over, and I’ve been able to move a few things faster that way, for a price that I like a little better.
No matter where you list an item, it’s essential to be very specific in your listing, and post pictures. The more detail you offer, time permitting, the better. When in doubt, think about the kinds of questions you would ask if you were buying that item, and the kinds of views you would want to see, and include them in the listing. Happy debt demolishing!
I am currently trying to sell all our possessions so that we can leave the UK and travel permanently (starting in South America next year). In the last month I’ve made over £500 on ebay and with a car boot sale. Ebay is definitely much more profitable. Some things go for less than you’d like, but some go for much more – you just have to look at the profits as a whole and try not to be too attached to things.
Ebay listings do take some time, although you get quicker with practice. One time saving tip is to create an action on Photoshop that automatically crops and resizes the photos for you. So much quicker. I am now also using Amazon marketplace for DVDs, CDs and more expensive books (textbooks are good) as it is MUCH quicker to list things (no photo needed and they automatically add the product info). The items stay up for 60 days, but I’ve been selling a lot of things within a few days.
My biggest problem is books. I have a large collection, but it’s really hard to compete with Amazon prices for most novels, and the postage costs make it too expensive for the buyer. None of the second hand book shops in my area are accepting any more books. Does anyone have any ideas of how to sell books?
I just ran into this site, Cash4Books.net – I’ve not tried it myself, but I’m going to.
Excellent post! I am motivated to sell stuff now. Traditionally we’ve sold stuff through garage sales, get frustrated when most doesn’t sell, and cart it off to Goodwill. I’ll put in more effort to selling online now.
.-= Carmen´s last blog ..6 Stages to Successfully Design Your Lifestyle =-.
Great tips! I sold a bunch of stuff on ebay when I was out of work for a couple months. I wanted to have all the extra cash I could gather during my unemployment. Fortunately I found work, and used that ebay cash to start my own blog. I pretty much followed the exact same steps you recommend!
.-= Eric´s last blog ..Get that debt monkey off my back! =-.
@Erin: Have you tried Amazon Marketplace or Half.com? If you go to any book page on Amazon, you should see a “Sell yours here” button in the “More buying choices” section of the product listing. On Half.com, you just search for the book, and there’s a handy “Sell my copy” link.
It’s very rare that I’m in the market to buy books, but if I borrow a book from the library and decide I really need a copy of it, I go to half.com to buy it. On Half, you can make a wish list and specify the highest price you’re willing to pay. If an item comes in at that price, you can have the wish list email you. That way, you can stay within a book/CD/game budget (if you have one), you aren’t cruising the site everyday finding other things to buy, and you can pay a very low price for shipping (all listings have a media mail rate, some listings offer an upgrade).
I like selling on Half.com because I like the idea, the buying experience, and it’s super easy. They got bought by ebay a while back, so if you can log in with your ebay username and password.
You know, I was going to write a post about selling your junk on eBay and Craigslist for our budget series, but now I don’t have to! I’ll just point them here. Great post.
.-= Betsy Talbot´s last blog ..Necessary and Unnecessary Expenses =-.
I can concur with the first of those two objections. How does one tell the difference between an item that has “no re-sell value” and a piece of your crap that someone else will definitely buy?
Also, the constant shipping seems like it would be a bit of a hassle. Perhaps it’s best to just list one item at a time, otherwise you might have to make three trips to the post office in one day!:) I’d love to talk with others who have done eBay successfully. Great post, thanks, Jenny!
.-= MoneyEnergy´s last blog ..Cashing in On Chips, Candy and Costumes: 10 Sweet Stocks For Hallowe’en =-.
Hi guys – thanks for all of your great comments & questions.
@MoneyEnergy – Re. Shipping: The shipping is my least favorite part of it but paypal has a multiorder shipping feature so it makes it easy to print off several labels at a time…you just enter the weight of the package (and select priority, media mail, etc.) and it prints it off. I will admit that I have shipping supplies (scale, mailing envelopes, boxes, tape, etc) already at my disposal with my business. I also don’t ship everyday. I typically ship ebay items on my business ship days of M, W, F.
Re. Re-sale value: Take a look on ebay or craigslist and see if a similar item has sold and for what amount. Since I feel I am a pretty savvy shopper, I kind of have a sense for what should be sold and what should be donated. Eg. old tshirts – donated; ugly sweater – donated; vintage handbag – sell; winter boots in great condition – sell. I also know what things are worth because I recall what I paid for them. Eg. My Frye boots – they retail for $300 so I knew they’d fetch at least half of that used.
Let me know if you have any other questions!
.-= LobotoME´s last blog ..{ ME vs. debt } =-.
Excellent post; I thought I’d reached the end of things I had to sell, but I keep on finding stuff. Good idea to go around the house and take inventory!
Its a great feeling when your trash can be someone else’s treasure ( Its even better when you get majority of the money back that you originally paid)
This is the post that I needed. I have so much “crap” in my garage and around the house that I need to sell, plus would like to make some extra money. Donate, de-clutter, and make money…
Thanks for the tips.
.-= Casey´s last blog ..Smile! =-.
I love the post!
And hate you just a little bit for listing my excuses as I was thinking them
Thanks for the inspiration. I’ve got some clutter to get to.
What an inspirational post! I am impressed that she was able to sell off so much to pay down her debt. I have a closet full of stuff to sell off and this makes me want to get on it. We have 5 computers alone that are in the “to sell” pile. FIVE COMPUTERS! We could make a pretty penny for the crap that we’re no longer using.
.-= JvW´s last blog ..Which Debt is Next? =-.
Your guest post over on Ramit’s blog was great. This one seems more like a short summary of what you said already on Ramit’s blog
but good stuff nonetheless!
.-= Credit Card Chaser´s last blog ..House Votes to Move CARD Regulation Start Date up to Dec 1st =-.
Neither I, nor the author of this post have guest posted on Ramit’s blog about Ebay. Three different authors.
Sorry I guess I misread your closing comment: “Baker’s Note: Before we left for the trip, Courtney went insane on Ebay, Craiglist, and at local garage sales. There are plenty of ‘advanced’ tips for maximizing these sites, but Jenny’s personal experience provides a create basic guide for those looking to get started. For those wanting to jump in even deeper, check out this recent killer guest post featured by Ramit Sethi.” to mean that this guest writer gave a deeper view of eBay on Ramit’s blog (maybe as a pen name for whatever reason…) My bad!
.-= Credit Card Chaser´s last blog ..Think You Could Go Into Massive Debt While Making $10 Million/Yr? =-.
I *hate* selling things on ebay. It’s not even worth it for less than $100. Just trying to find packing material makes shipping anything not worth the effort. You can either try to scavenge it from…. I dunno, somewhere, or you can spend what always ends up being $25 on a box and some packing peanuts at an office store, and then you have to go to the office store, go home, pack your item, go to the post office, wait in line, ship your item, come home. It ends up costing $25 and two hours of time to ship some stupid thing you sold for $35. Most of the time I’d rather just throw stuff in the trash than sell it on ebay.
I tried to sell a Nintendo DS on craigslist and all it got me was an endless stream of annoying emails from people with no money who refused to pay $90, and wanted to pay $75, and they will probably have the money on Saturday, so can they come look at it then? Then they email you again on sunday after not coming on Saturday, after you stayed home to wait for them, saying they don’t have the money but they can come check it out next sunday and you’re sure not $75, right?
I just kept the damn thing. I don’t know where it is. In a box somewhere maybe. Whatever.
.-= Tyler Karaszewski´s last blog ..Summer Update =-.
Hahaha Spot on. I am only ever really interested in doing anything to make money that I can consistently replicate and scale drastically – if I am going to cap out at making $15k and then everything I learned in the process is pretty much tapped out then that is not a strategy that is worth pursuing at all for me (now if I could work very hard at something and make $15k after 6 months and then $50k over the next 6 months and then $300k over the next 6 months and then I can hire employees to run the mini business/system I created for $50k a year while it makes $600k + annually then that is more to my liking)
.-= Credit Card Chaser´s last blog ..Think You Could Go Into Massive Debt While Making $10 Million/Yr? =-.
Haha, yeah right. I call your bluff.
You are acting like the only benefit is the money. No one is suggesting starting an Ebay business. It’s about getting rid of the crap you never use, decluttering, and making a little money in the process.
If Tyler would rather throw something worth $80 bucks in the trash than list it on Ebay that up to him.
But don’t act like you wouldn’t spend 1-2 hours a week to make $15k in 9 months if you had the stuff to sell in the first place. I don’t believe your time is that valuable!
Sure, passive income is great, but lets get real here. The ’skill’ to sell used items online isn’t ‘capped’ either. Unless you plan on never buying anything you would ever resell!
Respectfully, it really is not even close to being worth my time but the question is: would I make my little brother who is in college clean out my stuff and sell it on eBay for me for a cut of the sales then – yes! lol
PS I am just waiting for someone to call me out and accuse me of “wasting” too much time reading your posts and leaving comments if my time is supposedly so valuable lol
.-= Credit Card Chaser´s last blog ..Think You Could Go Into Massive Debt While Making $10 Million/Yr? =-.
If you price stuff to sell, it will sell on Craigslist, and it’ll sell quickly. Maybe you should have priced your DS for $75 to begin with.
I’ve sold dozens of things on Craigslist and I can think of only one item that people tried to haggle with me for, because I always price things at a bit less than perfect optimal market price. People see a good deal and they’re quick to snap it up instead of wasting time and risking losing out on the bargain. It’s worth avoiding the hassle instead of holding out for that extra $10-20.
Years ago, I sold one thing on ebay with great sucess. It was a LARGE computer desk. I said I would not ship it – I mean it was like 9 feet long! And I still had people begging for me to ship it from Colorado to New York. I got 10 times what I started the bidding for. But other than that, I’ve been disappointed. Shipping is the biggest hassle for me too. Anyone have good suggestions for that? Is USPS flat rate shipping a determinet to buyers – it seems expensive. ????
15k in sales? I think the real problem you need to look at is whether you buy on impulse too much? If you sold 15k worth of stuff, then you probably paid closer to 25-30k for that stuff. I have no where near that amount of ’stuff’ to sell. I did love the article and also lots of great comments. I am selling some stuff on craigslist right now, and it is quite a pain. So many people are interested and dont follow through. If I call and say im coming to see something, I am coming to see something. Funny how after a point you get a gut feeling on those who are serious and those who aren’t.
@CreditCardChaser – - – I understand where you are coming from – in fact that was pretty much what my husband said to me when I started listing stuff – “Your time is better spent on growing our businesses, increasing sales, etc”….and it is. My time IS better spent growing our businesses. But I wasn’t taking time out of my “work” day or letting things slide with work. If anything I was worker harder because I saw a light at the end of the tunnel with our non-mortgage debt. Anyway, this was time that I would have spent in the evenings after the kids went to bed on the couch watching stupid TV or surfing on the internet. However, spending a few “extra” hours at night a week was totally worth it because I paid off my school loans without having to tap into any of our business revenue (which is better used to buy more inventory and grow our businesses). And decreased the amt of stuff in our house which is priceless.
Anyway, selling stuff on ebay or craigslist isn’t for everyone and yes, it does take a fair amount of patience but if someone has some extra time and a need for some additional money, I found it to work out great.
@Tyler – I understand your frustration with shipping and dealing with craigslist buyers. For craigslist listings I weed people out via email – I never give out my phone #. For shipping, its really easy and free to use USPS priority mail envelopes & boxes (provided for free at your post office) and recycled newspapers. You can even print the labels out from the comfort of your own home and drop it in the mailbox. If that is even too much of a hassle there are lots of ebay businesses available in small towns – you drop off your stuff and they sell it and ship it for you and they get a cut of the final sale price. And if that still proves too much of a hassle, donate your stuff to a local shelter or thrift store and at the very least get the tax write-off before dumping your goods in the trash.
.-= LobotoME´s last blog ..{ ME vs. debt } =-.
@Gerry S – I wanted to clarify a point that these were things that both my husband & I acquired over the past decade not the result of a big spending spree. While some things were sold for less than I bought them for (clothes mainly) a lot of them sold for way more (eg. the old cruiser bike i had while living in boulder that i bought at a garage sale for $25 – sold for $250), my old hardshell kayak that i don’t use now that we have kids but i once used every weekend. Perhaps there were things I shouldn’t have bought in the first place (as stated above in my post) but the point is getting rid of things that no longer serve a purpose for us and using that money to pay off my school loans. My husband & I like to say that we spent our 20’s acquiring stuff (via wedding gifts, building a home, etc.) and now we are spending our 30’s getting rid of it!
.-= LobotoME´s last blog ..{ ME vs. debt } =-.
Oh for pete’s sake…all the nitpickers and naysayers. Good jo LobotME! Very inspiration post!
@LobotoME…sorry I really didnt want to come off negative, but my first thought was “you have 15k of stuff lying around???” – LOL. And didnt mean to imply that it was a result of some big spending spree. Like I said, I do love the article and it is a great example of using assets to get rid of debt.
Our first ‘get-out-of-debt garage sale’ yielded $300. We looked at eachother and and asked, “What did we sell?!” Hardly anything really. It was a ton of little stuff and a couple items that were $10 or $20.
It adds up fast, and YES – they absolutely will buy your crap. If not, then the freecylcers will haul it away:)
.-= Mr. Not the Jet Set´s last blog ..Vacation Or Bust Update =-.
Once you get into them for sale on eBay is very simple. I have about $ 300 U.S. dollars in the summer to sell products that I knew that they bring some money while I packed to leave the house of my parents. Now I think about all the things that I, the storage and now I can not wait to go to my new home and unpack and a lot to do to sell products and donate. I will try the simple and orderly life, whether I can make some moolah in the process, the better!
.-= janiper´s last blog ..NetSpend =-.
It is very true that one man’s junk is another man’s treasure, and you simple never know what people will buy.
I’ve made good money on eBay selling things I’d never think to sell, if I wasn’t trying to clean out the clutter and make a buck doing it. For example – old instructional videos on how to play Billiards, in VHS format no less!
It seems that they don’t make these particular vids anymore, so they’re a bit of a rarity. Who knew?
Other things that sell well is old PC parts, and software. And some things just don’t do as well as you’d think, like comic books. Unless they’re officially graded, they just don’t sell for much.
Do your research, and don’t just assume no one will want your “junk”!
.-= Joe Morgan´s last blog ..Pay your bills using Electric Orange Bill Pay and you could win $1,000 =-.
I have been an eBay seller since the mid 90s (or late 90s) and I do fairly well on eBay but these days, I prefer Craigslist.
You said “skip the upcharge” items. I disagree. Here are some of my pointers:
List as many items AT ONCE as you possibly can. eBay promoted your other items on the bottom of your listings so the more items you list, the more opportunity you have for your items to be found.
I always take my most attractive OR popular item & pay for the “bold” listing or something to get attention. Even if it is just the extra .25 cents for the “gift wrap”. I do it because it draws attention to my listing. I only do this with ONE item – since I usually post at least 3 items at a time. I bank on one items getting a lot of attention and then having that attention spread out to my other items.
I also keep a mailing list of my buyers & bidders. I email them when I am listing items. But I’ve been selling for more than a decade so I have a list.
I also list in multiple categories when appropriate – it helps with search of items.
I take returns (I don’t return shipping & I charge a 10% restocking fee) – it makes me look more credible and in 10 years, I’ve had ONE return.
And, to your point – absolutely make your pics the best. Good pictures REALLY HELP.
Here is my article related to eBay & Craigslist
http://www.sundaymorningsoliloquy.com/2009/03/random-things-to-do-when-youve-been.html
.-= leyla´s last blog ..Getting Started With Affiliate Marketing =-.
Awesome article! My husband and I were talking about this today actually. We have so much stuff and we have a little condo in Chicago. A good portion of our stuff sits in storage. I recently opened an Amazon account (for a totally different purpose) and realized, “Hey, I could be selling my crap right now.”
The bit about getting accurate shipping prices is smart – definitely a step I might have overlooked as I embark on this task. Thanks!
.-= Monica O’Brien´s last blog ..Free content sells. We get it. What’s next? =-.
Congrats on killing off the loan. I do have a question though..
You’ve got two degrees that aren’t useful to you, and yet you’ve decided to spend at least $200,000.00 on that same expense for your children? Is there any recognition that it might not be a good investment? I assure you that it’s not just you who gets little to no use from their degree – especially when we have to decide on a major/life course at such a young and inexperienced age.
Hi @Ed – I used to use the degrees until I left my career as a nonprofit consultant/land conservation consultant to be at home with the kids and to support my husbands business. If I hadn’t married him I might still be using them. So I did at one point use them and they were worthwhile….but not anymore, and to be honest I most likely won’t use them in the future. However, it is important to both my husband and I that we help fund our kids college educations should that be the path they choose to take. Thanks for the comment and question – Best, Jenny
.-= LobotoME´s last blog ..{ school fundraisers } =-.
Well written article. My husband and I are Financial Peace Univ. facilitators and we often try to get people to sell stuff on ebay and craigslist to get their emergency fund started. We hear all of the excuses you list and more. I’ve printed off several copies of your article to hand out to some of the ones who really need to get their emergency fund started. It’s really not rocket science but having your list makes it easier for someone who’s never done it before to try and get started. Also I like the fact that you were able to pay off a major debt just from doing this activity in your spare time. I hope this motivates some the people in our class to say ‘Hey, maybe I do have a ton of junk I can get rid of’. I agree that shipping is a major pain but if they can start with some items on Craigslist and have a little success then maybe they can move on to ebay where they’ll need to do the shipping. Thanks
I just went through this same process because my kid’s toys/clothes I could not donate due to the very dumb lead testing law. I didn’t want to see almost new stuff go in the trash, so I felt compelled to sell it despite the inconvience.
The process changed my mindset. I made some recent impulse purchases (I have a problem with books) that I read and then resold immediately and broke even. For me, if I bought it new, it means there was limited/no used inventory, so resale was pretty high.
So the moral is..the sooner you realize you bought crap you won’t use (like that trendy new exercise video that you’ve had for a month and still haven’t used)..sell it while it still has a high resale value.
The moral is..if you act fast, you can fix even recent spending mistakes…and the longer you wait to sell your stuff, the less it’ll be worth.
Fantastic post! I am just about to embark of selling all my crap on Ebay. I have set aside one day a week where my 4 year old is at school and my mum is having the baby for me and I can just concentrate on listing and organising things to sell.
I have done this before and one tip I could add is that listing like things at the same time is a great way to boost the sales. For example listing all baby products together or clothes of the same size together and making a note of your other products in your listing. I have found that then I have had people buy more than one thing from me which means less postage for them and less packing for me!
Also when selling clothes put approx measurements in your listing to begin with. I learnt this the hard way – it saves all the emails requesting the measurements or people skipping over your listing because they think that the item might not fit.
Anyway there are my two little tips! Hope they help….
My roommate and I took this idea one step further and crafted an entire business out of the idea. Located in Washington, DC, we sell stuff for other people and take a cut. Not only are we making money, but we are helping keep useful items out of landfills, helping others simplify their lives, and — hopefully — helping to pay off all of our debts in the process. It’s been a great experience so far.