Hello Forevercashers, and welcome to this week’s session of Forever Cash Friday!
Today I have a special challenge for you: make some seed money by selling something that is laying around the house.
To buy an asset – even an okay asset – you need money. The Wealth Wheel lets you get this money by reducing expenses, setting aside some of your regular income, and by earning a little something on the side. Some folks immediately think of mowing lawns or getting a part-time job to make a little extra, but if you take a look around your house you might be able to make cash by selling some belongings.
If we are honest, most of us will admit that we have certain possessions that we haven’t used in years. If that is your case, but you feel a little hesitant to sell anything “just in case you might need it someday”, why not try the following: put any items you know you haven’t used into a pile somewhere in your house; maybe in the garage or a spare room. If six months go by and you haven’t used that item, then it’s probably time to let it go.
Now if the item is in good shape – let’s say a bicycle or an older model computer – then you can probably find a buyer on craigslist – just be sure to include several photos. But if you aren’t sure who might be interested in your item, consider using an auction site like eBay or even a local flea market.
Here are three articles that list common items people are always on the lookout for along with some tips for selling:
- http://ebay.about.com/od/gettingstarted/qt/gs_firstfive.htm
- http://frugalliving.about.com/od/makingmoney/tp/Sell_Stuff_for_Cash.htm
- http://lifehacker.com/5939722/top-10-tricks-for-turning-your-junk-into-money
So that’s your Forever Cash Friday challenge: find something around the house that you can sell to get some seed money. If you aren’t ready to part with it just yet, try the six-month trick I mentioned and see whether or not you can live without.