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6 Tips to Turn Your Clutter Into Cash

Your closets could be a goldmine! It might take a little digging and planning, but decluttering your home can generate some extra cash and extra spacein. Read on to find out how savvy homeowners and renters can potentially earn money for the stuff they don’t want any more.1

 
  1. Take clothes, handbags, furniture, toys and household items to a consignment store. Some shops accept all types of merchandise, while others specialize in items like women’s clothing or products for children. A consignment shop typically buys items from you and then takes care of selling the products. They only take merchandise they’re confident they can sell relatively quickly.
  2. If you don’t live near any consignment shops, try an online option. ThredUp says that they take everything from Gap to Gucci and it operates similarly to a consignment store. You simply request a kit and send them your pre-loved items. They photograph and post anything they accept, and donate the rest. This makes it fairly easy for you to clean out and clean up.
  3. Use online auction and sales sites to unload a wide variety of goods, including collectors’ items. While consignment shops pay you up-front, websites like Ebay and Craigslist don’t take on the financial risk of buying your products. They serve as a facilitator to connect you with buyers who want what you’re selling. Mobile apps like OfferUp and letgo offer similar services, with an added emphasis on connecting you to local sellers. There any many other online tools that you could also use. 
  4. Sell extra electronics including cell phones, tablets and laptops. Although you may be able to sell or trade electronics at local stores like Best Buy, but you may be better off using an online source or mobile app. According to CIO.com, some of the bets options include Gazelle, Swappa and NextWorth.
  5. Garage (or yard) sales are a tried and true way to make money from your old stuff. They can be a lot of work, but if you have a lot to get rid of at one time, this can be more efficient than using an online auction site. Other reasons to have a garage sale? Some items sell better in-person and big items can be expensive to ship. You may want to get a Square Reader so you can accept debit cards and credit cards. The device is free and plugs into compatible smartphones and iPads. A small percentage of each transaction is automatically paid to Square. Take a few moments to learn more here and to determine if it’s right for you.
  6. Consider donating to a worthy organization.2 This won’t generate immediate money in your pocket, but it might benefit you at tax time if you itemize deductions. That being said, with the recent changes in tax laws, this option may not make sense for everyone.
 
Finding cash among clutter can increase both your efficiency and your bank account. Here are some tips to keep in mind:
  • Read the fine print. Don’t assume that every company functions the same way.
  • Find out if there are user fees, minimums or other requirements you need to meet.
  • Review the commission schedule to see how much you’ll earn.
  • Take shipping costs into account when setting prices.
  • Always keep safety in mind and avoid scams.
  • Check out specialty sites like decluttr for LEGO and DVDs or PaperBack Swap for book-lovers.

- By Stephanie Clark , Jun 27, 2018



 
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