Archive for the 'Personal Finance' Category

Making Money Fast With a Garage Sale

Saturday, May 30th, 2009
Bob asked:


So, you have an emergency and need some money fast. How can you make money quickly with what you have? A garage sale can be a great way to make some money fast while getting rid of extra items in your house. It will take some work, but it will be worth it to get through the crisis. Having a successful garage sale has become a science to some, so there is a lot of information available online. This article will give you some basic tips and tricks so that you have a smooth operating garage sale experience.

Step one is to set a date and advertise. You can place an ad in your local paper if you wish. If you are looking for cheaper options, consider searching the web for free sites to announce your garage sale. Tell all of your friends, family and co-workers to spread the word for you. A lot of grocery stores have bulletin boards where you can post a flyer letting people know where and when the garage sale will be, as well as what big ticket items you’ll be selling.

The next step is to make signs. Use clear, big, bold letters to write your address and draw really big arrows leading people to your house. Bright poster board is a great option when trying to get the attention of people driving down the road. Make sure that you put an arrow at every turn going through your neighborhood. Make everything match if possible. If your sign off of the main road is bright orange, then use bright orange to make your arrows so that people know that they are still going the right way. Make sure that you don’t post on traffic signs or light poles without permission from the highway commission, because it could be illegal and will point police directly to your house. Ask permission from your neighbors before placing signs in their yards and make sure that you take them down immediately after the garage sale.

Collect everything that you can from around your house, including worthless knick-knacks that you don’t believe anyone would want. You’ll be surprised what people will buy. Go in with other families if you can. The bigger the garage sale, the better. Price items clearly with bright stickers. Make everything as cheap as possible and be willing to haggle. Use different colors for different families if you need to. Collect a lot of cash change before the big day. You’ll need a lot of one dollar bills, fives, tens and lots of coins. Use a cash box if you can. It’s generally not a good idea to accept checks. Not only might the check not be good, but your bank could charge you a fee for presenting them with a check that bounces.

Put everything out on sturdy tables and be prepared for people to flood into your yard. As soon as the ad hits, or people see you putting up signs, they’ll want to be the first ones there. If you don’t make enough money from your garage sale to get you through an emergency, you may consider a payday loan or cash advance to get you through.



CAREY

Boost Your Savings Account With These Garage Sale Tips

Thursday, April 23rd, 2009
Lorna Goldsborough asked:


rowning in clutter? Or perhaps drowning in credit card debt? Whatever the case may be, a good old-fashioned garage sale can be a great way to get rid of the things you never use anymore, and you can boost your savings account in the process. Here are some garage sale tips for boosting your savings account by putting together a successful garage sale.

Get together with neighbors for a group sale

There is no doubt about it: you are more likely to enjoy a successful garage sale by getting together with neighbors and making yours the king of all yard sales. People are much more drawn to group sales because the opportunity to find a treasure seems greater, and there is less pressure to buy and more latitude to explore when there are other potential buyers milling around. Creating a friendly, active and even festive atmosphere is the key to getting people to stop. You are much less likely to host a successful yard sale if you have a smaller sale on a quiet street. People will likely not feel like stopping if all they see is a few items strewn across the sidewalk and no other people around.

Advertising is key to a good turn-out

If you live on a busy street corner, perhaps advertising does not seem very important. But even if you are on a visible lot, you are much more likely to host a successful garage sale if you advertise ahead of time. There are some people who are yard sale addicts and scour the local ads for the weekend round of sales. You can advertise for free online and your local neighborhood paper can also be a great place to place an ad. Make sure to put your address and a brief description of what kinds of things you will be selling.

Put up large and legible signs

The true success of your garage sale will depend on whether you can get passerbys to stop and take a look at your used wares. A good yard sign will be large and clearly legible even from a passing distance. Go for a simple design of black letters (“Huge Sale”) on white poster board, with a big arrow pointing into your street. Make sure to take down your signs right after the sale has ended.

Do you want to make money, or get rid of junk? Or both?

These are important questions to ask of yourself before your garage sale even begins to take shape. In order to price your items accurately, you have to decide what your ultimate objective is. Are you more interested in padding your savings account, or getting rid of your clutter? Although it is fair to want both, you must make a decision about how flexible you are going to be during the sale when it comes to pricing items. If you price items low, there is a much better chances that your junk will fly off the shelves to become someone else’s treasure. But if you are rigid about your pricing, you may be better off selling your items on eBay or your local pawn shop.

Give your customers a little background music

Remember that atmosphere is the key to making your garage sale a brilliant success. To this end, play a little background music. It is a great way to attract customers and to give a friendly atmosphere, even if you have a dearth of customers. It can be intimidating for customers to approve a near-silent sidewalk. Make sure that you play music that will not offend anybody and that you keep it low enough so that it will not disturb the neighbors. Oldies, country music and classic rock are nearly always a safe choice.

FREDRICK

Four Surefire Ways of Making Extra Income in a Financially Tight Situation

Friday, March 13th, 2009
Theresa A. Nixon asked:


Do you find yourself staring down the yaw of yet another lean month wondering how you’re going to pay those unexpected bills or fill up your gas tank?  Before you decide to hotfoot it down to the nearest payday advance store, thereby putting yourself on that go-nowhere treadmill of borrowing money only to pay it back at exorbitant interest rates, look at some of these tips for making quick cash.  With a little ingenuity, these ideas can help you over the rough patches, and even enable you to save money so you can build a financial cushion to help you during lean times.    

 Recycling

 Definitely not the most glamorous but this is probably the easiest way to make quick money; however, it does take effort and a certain measure of humility.  I have a friend who has made a business out of collecting bottles, cans, glass, and plastics while on his way to and from work, and during his free time on the weekends.  He always carries a large tote bag over his shoulder and fills it to the brim each day, adding more space by smashing the bottles and cans to condense them.  He stockpiles anywhere from 300 to 500 bottles, cans, and other recyclables per week.  At five cents per bottle and can (check to see how much your state pays – some pay more, some less), this can fetch you anywhere from sixty to one hundred dollars a month.  Of course, you would have to do diligent collecting to garner the same results; but you’d be surprised how quickly your cache can actually grow.  The best places to look are parks, recreation areas, trash bins around fast food restaurants and stop and go marts, and along street curbs.  You can enlist others to help out by asking them to donate any bottles, cans, glass, or plastic containers to you (some states, like California, do not accept milk or similar containers; also, some liquor bottles may not be redeemable).  To make the daily expeditions less painful to your pride, I suggest creating a banner to place on your tote sack with wording like, “Recycling For The Planet,” or “Recycle Junkie,” or something similar.  This way, it shows the world you’re civic-minded as well as thrifty.  Granted, it won’t make you a fortune; but the dollars can rack up pretty quickly with diligent collecting.  If you’re squeamish about picking up from trash bins or curbs, wear an old pair of gloves while gathering, use a trash pick-up stick (check the dollar stores for inexpensive brands), or simply use a plastic sandwich bag as a makeshift glove and begin collecting away.    

 Yard/Garage Sale

 This is another terrific way to raise cash in a hurry.  Everyone loves browsing at a yard sale; but keep in mind, people come to these events to find cheap bargains.  Set your prices right and you can make bank.  Some best sellers at yard sales are clothing of all kinds, especially blue jeans, women’s tops, men’s shirts, and shoes; baby items; electronics (TVs, radios, dvd/cd players); books; dishes; and small furniture such as end tables, chairs, and bureaus.  Novelty items such as figurines, ashtrays (a real find nowadays), and boudoir lamps also sell very well.  Just about anything you lay out in a yard sale will appeal to someone.  Clean out your closets of any clothing and shoes you no longer use; salvage good, usable items from your garage; look around for old blankets, sheets or curtains (another great seller) you have in storage but don’t need; any items that you can turn into quick bucks for your bank account! 

 Consignment Shops

 Probably not as good as holding a yard sale where you keep 100% of the profits; but a good way, nonetheless, of making a little extra cash.  Sell good suits, dresses, shoes and furniture for a percentage of the profits at local consignment shops and/or boutiques.  Some items, such as a wedding dress or a well-maintained sofa, can be sold at premium prices depending on the quality of the merchandise, thereby garnering you a greater profit. 

 Reselling

 My particular favorite is refurbishing old pieces of furniture and crockery found at yard sales, thrift stores, or better yet, on street curbs, then reselling them for a tidy profit.  If you have a creative knack (even if that only extends to holding a brush and paint can), you can do very well, indeed.  All it takes is some paint, some stenciling brushes, a few patterns (unless you’re gifted with drawing talent) and a little creative imagination.  I once found an old night table that someone had discarded on the street.  I took it home, sanded it down, put a coat of primer on it; then painted it with bright pastel colors.  I added my own unique design with striping and a new, wooden knob for the drawer (striping is easy; simply place painter’s tape where you want the stripes, let the outer paint dry; then pull off the tape and fill in the stripes as desired).  It turned out beautiful!  I sold it for twenty-five dollars in a yard sale.  Not a bad profit for minimum work on an item that was free!  I also once found an old floor lamp at a thrift store and gave it new life by painting it antique white, then revived the shade by gluing fabric and fringe to it.  It became the focal point of my living room.  Old dishes can be made works of art with some crafters acrylic paint and a little imagination.  Swirl decorative vines or flowers around the rims using stencil brushes; dip the brushes very lightly in acrylic paint, lay a stencil pattern over the area you wish to decorate, and swirl away!  (You can always make up your own patterns, too, or hand-paint your own decorations).  Gold trim around the edges create a lush look (plain dishes are best for this).  Make matching plates, bowls, and cups; then sell in a yard sale, boutique, or rummage sale.  Of course, the best items are those you pick up for free; you can find some fine pieces on the street.  These may not look great at first glance; but by visualizing how a piece could look with a little creative magic, you can bring real dividends to your pocketbook.  Thrift stores tend to be a bit pricey nowadays; but if you look sharply for the odd item here and there, you’re bound to find a bargain that you can later transform into a financial profit. 



JACKSON