Increase Emergency Fund Balances by Selling Unwanted Items
Most households contain many items in good condition which you rarely use. From clothes, your children have outgrown, to sports equipment or instruments you no longer play. Earn additional money to fund your emergency fund by locating and selling these items. Kitchen appliances, tools, and old furniture maintain their value, giving you a way to convert these items quickly to cash.
Here are three places you can sell your unwanted goods:
Consignment shops typically specialize in certain categories and look for like-new or items in good condition. These stores are common for household items such as clothes, shoes, purses, and toys. Other places specialize in larger items like furniture or antiques.
Smaller goods such as clothes and household items typically pay a set amount up front allowing you to receive cash the same day. More expensive items like furniture, artwork, or other specialty goods can work as a percentage of the sale, requiring you to wait for a buyer before receiving payment.
Yard sales or garage sales provide an inexpensive way to get rid of unwanted stuff in your home and can include any items you have. There is a small cost to run a yard sale, and you keep 100% of the profits. Combining items with neighbors can help traffic and sales while splitting the cost of permits and advertising.
Online communities such as eBay, Craigslist, and Facebook yard sale groups allow you to sell items quickly and inexpensively. They operate in different formats and audiences, which can impact the cost and speed of the sale. Local buyers frequent Facebook groups and Craigslist, where eBay gives you an international audience.
Eliminating unwanted goods in your home gives you extra cash for your emergency fund while freeing up space in your home.