Credit repair is a complex process with a lot of
moving parts. Part of it is to settle your debts and start building some
savings again, a process that many people find frustrating and demoralizing.
How can you save money when you're in so much debt already, short of giving up
sleep to get another job?
One strategy that works for many people is to take a
hard look at all the stuff in their garage, attic, or basement and start
selling it. This is a great strategy in many ways: The fact that it's
collecting dust somewhere and not being used indicates you don't actually need
this stuff, it cleans up your home and organizes your life, and it can lead to
some significant extra money that can be used to get you out of debt more
quickly or to build up your savings. Here's where you can sell anything you've
got clogging up your storage areas.
Clothes: If you've got designer labels in your closets
that you never wear or that no longer fit, but are in good condition, your best
bet will be a local consignment store. Most cities have at least one
second-hand fashion shop - brings your goods there and see what you can get for
them.
Books: A fine collection of older, rarer books can
fetch decent money; a stack of recent mass market paperbacks, not so much. If
you have some quality older books, your best bet is eBay. With tens of millions
of people looking every day, you'll have the best shot of reaching an educated
collector who will pay good value for the book.
Electronics: If you have devices that are relatively
new they can be sold for 50%-75% of their original price, if in good condition.
Small items like phones or laptops can be sold on eBay efficiently, but you'll
lose anywhere from 10%-15% to fees. Larger items are best sold on Craigslist -
plus you'll save the fees.
Toys: If they're classic collectibles from childhood,
eBay is probably best. If they're in poor condition or are newer toys leftover
from your own kids, a garage sale is your best bet - toys are one of the few
items that sell reliably at garage sales. Set your tag price a little high so
you can negotiate down at Game Time.
Remember, stuff is just stuff. Slimming down your life
while fattening your bank account is a win-win situation.
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