You might have seen a garage sale or two in your life and have wondered what the benefits are of holding one. Is it worth all the work put in by the people behind it? Putting up one takes a lot of effort on the side of the homeowner. There is the need to advertise it properly to make sure that people know about it.
They can put out ads in the local paper or even a newsletter which lists down classified ads in the area. People putting up a garage sale also has to take display their items properly. More often than not, they also need to clean a lot of them. This is true especially when their items have been in the attic or a warehouse for a long time.
They also need to prepare for the day itself because in these types of activities, people tend to show up really early. They are trying to choose early and get the best ones before other buyers come in. This means that if you are holding a sale in your garage, you need to be ready the day before because you do not have enough time on the day itself.
With all these preparations in mind, is it ideal to invest a lot of time and effort in selling used items? You might be surprised with all the benefits it has more than the obvious cash in your pocket. If you are eager to hold one but holding off on the idea because you want to weigh if it is a good idea, here are a few benefits you keep in mind.
You declutter you home
One of the many reasons why people hold sales in their garage is to decluter their place. If they have been collecting a lot of stuff over the years, there is a good chance that their attic or one room in the house is already full. They can also be moving from a large house into a smaller home which leaves them with more items than they can fit inside their housee.
A garage sale can declutter your house and even free up a room or two. You might even find the attic to be a great space for a hometheater for the whole family. It can also be converted into a skylight for a great view of the sky. It can be covnerted to one of the best spots in the house not only for family but even with friends.
Selling items you no longer need also benefits your mood in so many ways. For one, you do not see that clutter in the house anymore which gives you the feeling of accomplishment. Decluttering can also give you a mental boost to do the same with other areas in your life. You might be inspired to start managing your finances a little better.
Earn extra cash with a garage sale
One of the most obvious reasons why you sell used items around the house is to get some extra cash in you budget. Though it would be a challenge to sell items at the same amount as you get them, you still get some cash for it. If you have some collectors item or anything important, you might be able to let it go at a huge profit. It can be rookie sports cards of famous athletes or even signed merchandise.
Basebeall Hall of Famer Ted Williams mint rookie card in 2016 fetched $239,000 in 2016 in a Heritage auction. That is a big amount of money which can go a long way in helping you reach your financial goals in life. This is one of the rare ones do don’t expect to get the same amount for every rookie card you get your hands on.
One key thing to remember is that you need to sell the things you are no longer using. This is because if you get ll excited and sell items you actually need for extra cash, it can come up to be a more expensive decision. Take a god couch for example where you sell the one you are using even though it is still good. You can end up having to buy a more expensive one
Selling used items help you buy things you need
The extra money you get from selling old items can be used to help you buy new things you need. You have to be able to distinguish what your needs from wants. You could be selling an old couch because it was getting too small for a growing family. It could be tempting to get that nice small one which is very stylish.
You have to remember what you need which is a bigger couch for the family. It goes the same with other items in the house. As you declutted and free up space, you could be tempted to start buying different things again to fill up the space. You may not realize it but you are starting to run out of space again at home because of this.
You meet neighbors and other people
As you hold garage sales, you not only meet different types of people but you also get to know people around the neighborhood as well. Sooner or later, you might be able to put together a sale event with one or more of your neighbors. Consistently creating an event like it could help attract more and more cutsomers to your sale events.
Meeting a lot of people can also help you market your items when you do it on regular interval. They can tell their family and friends if they get something great and useful from your garage sale. This increases the number of people who gets to know about your sale. It will help you move items a lot faster and earn more as well.
You help the ennviroment
One other benefit of selling items you do not need is that you help the environment in the process. Finding someone else to have a use for used items in your house helps sustain the environment. It helps divert goods and other items from filling up landfills. Just to give you an idea how bad it is, single-use plastic is slowly killing the oceans.
National Geographic shares that plastic in the ocean is estimated to be anywhere between 5.3 million and 14 million tons each year from coastal regions. This is just part of the problem. Holding garage sales can help you become part of the solution. This is because it encourages people to re-use items rather than just throwing them away.
What to do with the extra cash?
Once you find yourself flused with extra cash after selling a lot of your old items, what you do you do with the money? Here are a few things you can consider to help you make the most of your earnings.
- Pay down high interest loans – this is a great idea to help you save money which would have otherwise been used to pay for interest on the loan. This is usually your credit card debt and even payday loans if you have any.
- Put it towards savings – you can use the money to strengthen either your emergency fund or even your retirement fund. Being aggressive with these accounts can help you prepare for unepected emergencies in the future.
Holding a garage sale can help you in a lot of ways such as decluttering your home and even putting extra cash in your pockets. At the end of the day, you need to take advantage of all these benefits and make sure you use them to help you strengthen your finances for the future.