One of the first pieces of advice you will hear or read when you start to look for ways to get out of debt is to sell your stuff. DVDs? Take them to the nearest used record (or is it CD) shop. CDs? Post them on Amazon. Designer bags? The consignment shop. Same for outgrown children’s clothes and toys. Haven’t played that Playstation 2 for a while? Someone will buy it off you for a tenner at your next garage sale.
But then what happens? Surely you’re allowed to keep some of your possessions. Aren’t you?
This is where I am currently. I sold off most of the DVDs, CDs and video games that we no longer watched, listened to or played with. Clothes and toys went flying off to the local consignment shop, and some have even sold. I post new finds monthly on Ebay (I didn’t know my house could hold so much unwanted stuff) and now I think I’m about tapped out.
For example, we have some nice, middle of the road-ish in quality, camping gear. A large tent, some mattress pads, a stove, some dishes. I think we must have paid less than €400 for it all, in cash. It’s sitting in our storage shed, not taking up any space that we pay for or that could be used by something else. The last time we went camping however, was when my youngest son was about one and a half years old. He’s four and a half now.
Should we sell it? We’re certainly aren’t going camping this summer; as much as I love camping, I hate it with babies who aren’t yet walking. The next time we go probably won’t be before next spring, although with our track record, it might even be after that. If I did sell it at the local consignment shop I would only get about 25% of what I paid, if I were lucky. And then we would have to pay to replace it again.
That’s the reason I haven’t sold it, not yet. While it has certainly been a while since we last camped, the chances are good that we will go camping again. And camping is one of the most frugal vacation ideas around, assuming you already have the necessary equipment. The above reasons, combined with the fact that we are no longer in desperate straits financially and we have the place to store the gear, make it more financlially wise to hold on to it than to sell.
For the moment at least.
What about you? Is there anything that you could sell, or maybe should, but can’t or won’t?
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{ 7 comments }
Great balanced article! I know someone who buys and sells when they move, are in need of money etc, they get 20-25% of what they paid, then a couple months later buy it all over again! What a terrible waste of money!!
Frugal Trenches's last blog post..Why I’m NOT tempted by summer sales!
I won’t sell my road bike. do I ride it every day? no, not even close. I like it though. I did pay cash for it!! And, when I want to go biking – I have it.
Denise’s last blog post..re: joy (3)
We are in this situation now. We usd to collect antiques, but now with our little one, we don't even enjoy them anymore.
We're having an auction and selling anything we don't really want within the next few months.
If we wouldn't replace it if it broke or was stolen, it's going. Why keep it? I don't really think we'll miss it. Much.
Goodbye old rolling pins.
Goodbye beautiful old bowls (I can't use due to possible lead in the glaze)
Goodbye antique grandfather clock.
Goodbye salt glazed crock.
It's been nice knowing you.
Hell-oooo cash for the little one's 529!
M.
At one point I actually contemplated selling some of my DVD’s for some extra $$$. But I just couldn’t bring myself to do it…the agony! I love my DVD’s (but heck, they’re an expensive habit). I’ve cut back on buying them so that’s a step in the right direction. Right?
@Ribeezie, Absolutely a step in the right direction. Plus, in selling them you only get a dollar or two. Sometimes it's really not worth it.
Although I have sold some DVDs and CDs in the past year or so, it’s really not worth it unless you sell quite a few at one time; you’re right. I also sold some vintage clothes last year, although I’m still hanging on to a few dresses in case I lose weight. 🙂 I think I’ve pared my CD, DVD, LP, and book collections down to a point where I still watch/listen to/read everything that I own and I’m not willing to sell anything else right now. Also, I’ve found that having a decent DVD, etc., collection can help you save money by keeping you home! It’s just as much fun to have a friend over for dinner and a movie as it is to go out–sometimes even more so. I think the more important thing to focus on is what Ribeezie is doing: stop buying so much stuff in the first place. Learn to enjoy what you have and then really think about your next purchase.
I appreciate the concept, but have you looked at the prices on eBay right now? It’s more of a buyer’s market than a seller’s market on certain collector items we buy. Husband and I were looking for my birthday gift among the collector edition Barbie dolls on eBay tonight and we were astonished at the low values compared to what we used to see.
Monroe on a Budget’s last blog post..Danny’s and Hi-Lite sales for 8/4