In my last blog post, I talked about the Emergency Savings Account. Today’s post will discuss several ways to quickly reach the $1,000 goal for your fund. Here are a few suggestions:
1) Have a yard sale: Believe it or not, yard sales can be a great way to make money and can easily bring in several hundred dollars or more for just a few hours of work. You may not think you have anything valuable to sell, but I have sold items such as used cans of hairspray, nail polish, makeup, etc. Remember that one man’s junk might be another man’s treasure. What you may see as no longer desirable, someone else might see as being usable. Make sure to check with your Homeowner’s Association to find out if there are yard sale restrictions for your neighborhood.
2) Get a second job: I know this may not be the choice you wanted to make, but in order to clean up your financial situation, drastic steps need to be taken. A second job (part-time) will not be a forever necessity, but a short-term fix to get you where you need to be financially. For example, an accountant could work part-time as a bookkeeper. A nurse might work a part-time job at an assisted living facility. Many of you probably have skills that are transferrable to other jobs. I have known people that started out part-time just for the short-term who ended up truly enjoying the job and staying with it for many years and I have known people who used that second job as a stepping-stone to launching their own business.
3) Sell your items on eBay: My family has sold several items on eBay for a nice sum of money. Electronics are good items to sell, but used clothing also sells well in my experience. Just make sure you have time to check the item auction often and answer any questions potential buyers may ask. I once had an item for sale and did not realize a buyer had a question until the auction had ended and the item did not sell. Expedient shipping of the item is also a necessity if you want to keep a good rating as a seller. I would advise you to include several pictures and list a full description of the item. If it has wear and tear then you would need to note that in the description.
4) Sell your clothes to a consignment shop – Just this past week I sold a few items to a local consignment shop that buys gently used clothing. I took the items in and in about 20 minutes I had cash for the items. Some stores will put your clothing, handbags, shoes, etc., in the store and if they sell will send you the money. If the items don’t sell within a certain amount of time, you can pick the items up or let the store donate them to charity. Consignment shops are a good way to sell children’s clothes they have outgrown.
5) Sell your old jewelry – One of the first steps I took to paying off my debt was to look through my jewelry box to see if I had any old jewelry that I could sell for the scrap gold. I only made a little less than $200 but I didn’t intend to wear the jewelry anymore. We have a local jeweler who will buy some used jewelry. He will take a look at it and if he is interested will make an offer.
6) Sell items on local Facebook community pages – There are several local Facebook community pages in my surrounding area; (Name of City) Trading. These community pages allow you to list items for sale or trade, with stipulations, of course. We sold a used drum set and a weight machine within just the past few months using the community page. I have seen listings for clothing, shoes, furniture, musical instruments, pet items, handbags, toys, college memorabilia etc. Be sure to check the rules of the Facebook page when posting items here and always make sure you meet in a public place to make the exchange. We usually only accept cash because you just never know if someone is writing you a bad check. Always be cautious and use your judgment when selling items this way.
7) Sell crafts on Etsy – You can turn a hobby into a side business to earn extra cash. If you have a creative side and enjoy making crafts, you might want to look into listing your items for sell on Etsy, a website that sells handmade and vintage items. It is free to open an Etsy account but you will be charged a $.20 listing fee and then a 3.5% on the total item price when the item sells. Items currently listed for sale on Etsy include jewelry, furniture, arts and crafts, hair accessories, rugs, lighting, leather crafts, knitted and crocheted items, clothing, and many more.