Yahoo Finance 4 Ways to Cut the Clutter and Make Money Doing It
The winter is thawing (finally) and with that comes the inevitable closet purge. Piles of bulky sweaters, your sixth pair of blue jeans and that dress you haven't worn in over a year -- these are all signs you may need to do some wardrobe editing. Have a roommate? That might also mean you have two of a lot of things such as toasters or vacuums you likely don't need in duplicate.
Being thrifty by nature, I see dollar signs in items other people might have given or thrown away. So here's how to cut the clutter around your home -- and make some extra cash doing it!
1. eBay is a great resource for selling your gently-used items. I used it all the time early in my career for selling off clothes and shoes I no longer needed. Investing in small, yet inexpensive repairs such as new buttons and zippers will also increase the selling power of items you would have otherwise tossed or donated. And be sure to take tons of photos of your item from every angle; a savvy customer will want to see how it's worn and also ensure its authenticity if it's a designer item.
2. Consignment shops are not for moth balls! Bring your gently-worn clothing on hangers or in garment bags to increase the value the shop places on your item. If it's a formal piece, dry-clean it ahead of time; this small investment in spiffing it up could mean a bigger sale down the road. And shop around before committing to one shop over another. Some will offer better commission, such as 65 percent of the sale to you and 35 percent to them, or even greater if you choose store credit instead of a cash commission.
3. Craigslist is a hotbed for small appliances. Sell that printer you have at the bottom of your closet; you will not only make money, but also free up valuable shoe space for your next pair. If you have the original packaging, manual and warranty information, be sure to include that in the listing to increase the value of your sale. Revamping a particular room all at once? You can also offer home goods for sale in "bundles," like a home office-themed sale of a printer, landline phone and stapler to get rid of smaller items (the stapler) that might not sell on their own.
4. Not using an item often, but still not ready to part with it? Join the "share economy" and rent your things when you're not using them -- a camping tent, digital camera, foosball table, you name it. Whether you're looking to borrow an item for one-time use, to try out a new product before you buy it or just to make a little extra dough on the side, peer-to-peer lending is a great way to do it.
So where to begin? Think about the variety of items available on eBay (limitless, right?) and then think about a site where you can rent all those things. Enter: Zilok. Here you search for items to rent by the type of item and location. Since social tagging by members is encouraged, the process is painless -- and yields amazing results. Current rental listings on the site include everything from a kayak and Xbox to a sewing machine and violin. With many rentals coming in at around $15 to $50, it's a great way to earn some extra cash when you're not using your stuff -- or to rent items you may not need every day instead of purchasing them outright. With members in the United States and Europe, this is a global rental platform for anything you might need -- anywhere.
Nicole Lapin is a financial expert and journalist, serving as an anchor on CNN, CNBC and Bloomberg. She is the author of the New York Times best-seller "Rich Bitch: A Simple 12-Step Plan for Getting Your Financial Life Together...Finally."
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