Manage Your Debt - Let's Explore Your Options


Eleven Last Minute Tips for a Great Garage Sale

Eleven Last Minute Tips for a Great Garage Sale

Summer is rapidly coming to an end, which means you are running out of time to engage in something that could help you get an influx of money to help you reduce your debts: the garage sale.

We all know more people are likely to go out and about looking for deals while the weather is nicer. By hosting a garage sale you could actually give yourself hundreds of dollars you can apply to your debts. The second benefit is that it allows you get rid of things and even in a small way make your life simpler.

Here are several things you can do to conduct a successful sale.

  1. Inventory what you’re selling. As you go through the boxes and other places in your home where you have items to sell, make sure you write down each one on a piece of paper.
  2. Price every item on paper. Some say the standard rule of thumb is to price your item at 25 percent of what you paid, but that can certainly vary. If you bought the item at a garage sale yourself or at a thrift shop, your percentage might be higher.
  3. Advertise. Take advantage of all the free advertising you can get with social media. But also consider buying an ad in a place garage-sale buyers are going to look. Highlight the items you think will be of the most interest to most people.
  4. Have plenty of tables. Most buyers don’t want to bend over on the ground to inspect an item. Some things do belong on the ground, but for the most part you should do all you can to make items easily visible and holdable.
  5. Create price signs that are clear and large.
  6. Get lots of cash so that you will be able to provide change.
  7. Set up early, because many of the best buyers want to get there early.
  8. Make your sale look nice. Clean up your property and have an attractive sales display as much as possible.
  9. Get help. Don’t conduct a sale by yourself. Have at least two adults on site so you can go inside and take a potty break. You don’t want to leave anything out by itself.
  10. Prepare to haggle. Many buyers will want to negotiate a lower price. Be prepared to negotiate, perhaps setting your prices a little higher than what you need so that you can get the price you want.
  11. Clean up after yourself. Take down your signs. When the sale is over if you still want to shed some items you can advertise those and have another sale. Or, you can advertise them to give them away.

Once you have had your sale take the money you make and apply it to your debts to speed up your repayments. And then enjoy the benefits of having decluttered your home.

Published Aug 29, 2014.