Before you can invest in a cash-producing asset, you need to make some seed money. That seed money might be spent on educating yourself about new investment methods; it might be used for marketing; or it might be used as capital for purchasing an asset.
While I am a HUGE proponent of the motto “You don’t need money to make money; you need knowledge”, there is no denying that you need a least a small amount of seed money to get started. How you make that seed money depends on your talents, available time, and particular circumstances. I have already considered some ideas in recent blog posts – ideas like being a mystery shopper, writing, and caring for pets. But in case you find yourself with very little time, here is an idea that might let you make a little money: selling used clothing.
Does it surprise you to find out that you can make money selling used clothing? It shouldn’t. The market for quality used clothing is huge, and practically every type of clothing – from prom and wedding dresses to kid’s clothing and seasonal coats and sports equipment – has a consistent demand. If your circumstances don’t permit you to go out and work extra hours, then perhaps you can fill up your seed money bank account by simply selling off what you have stored in the garage and in your closet.
How can you go about selling?
One method is both simple and efficient: list the items you have for sale on Craigslist or Ebay. Take good pictures and price the items reasonably, allowing for either local pickup or shipping (that the buyer will pay for).
Another method is setting up a table at a local flea market or swap meet. People go to flea markets looking for bargains, and while they might not be ready to pay full price for a dress they will only wear once or clothes their kids will quickly grow out of, they will happily pay you for your quality used clothing.
A third method is to take advantage of a consignment shop – where a third party will sell your clothes for you in exchange for a commission (usually a percentage of the sale price).
Selling your clothes can be a great way to make some seed money for your future assets.