Closet Keurig - Sell your stuff - Johnny Moneyseed
Debt-Free

Destroy your debt by selling your crap

SHARE

Closet Keurig - Sell your stuff - Johnny MoneyseedI’m the kind of person that hates having any kind of debt. I actually hate the idea of wasting money in general. And having “things” has never been a priority for me.

We’ve been a debt-free family for over two years now. Not having debt may sound pretty awesome, but it occasionally makes it harder to justify NOT buying stuff. Even for someone who is morally opposed to waste and general consumerism.

When you’re broke, you might honestly not be able to afford the things you want, or even need for that matter. Then there are those of us who DO have the money and can easily buy the crap we want. So, why not just buy the $200 pair of shoes? The $70,000 Escalade with 24″ rims? The newest, biggest, cell phone data plan?

Flagrant spending is flagrant spending no matter if you have serious debt or Millions invested!

You’re ready to open your eyes to see what the American Middle Class has become. Instead of seeing Fancy, expensive things, you’ll start seeing Waste. A leisurely walk through the mall will become one of the most grueling activities imaginable. And when your friend shows you their sweet new car you’ll actually feel bad for them!

What do you do when you realize that you want to pay down debt, while at the same time feel nauseous when you look at all the precious stuff you own?

You get rid of it! Getting rid of Wasteful stuff can provide financial relief as well as help clear out overloaded living spaces. Fortunately for us, it’s 2013, and you don’t need to spend an entire Saturday having a yard sale.

One alternative to face-to-face selling is ebay. ebay will help you sell your items to people all over the world through an online auction (they also charge a small commission). Although they’ve streamlined their services, I’ve been scammed quite a number of times. Luckily, I’m up to date on my annual Phishing training (thanks employer!).

Scamming is overly apparent when you’re trying to sell an in demand electronic item (ie, iPhone, Galaxy S4). “Fake bidders” may bid on your product within the last 5 minutes of an auction, successfully winning the item, but with no intention of ever paying you. This is a family past time in Nigeria.

I tried to sell an iPhone through ebay once! The Nigerians “bought” it within the last 5 minutes of the auction. 5 times in a row. ebay is used to this type of behavior. They reimbursed me of all seller fees, and I moved on to another sale’s medium.

Craigslist!

I’m a huge fan of Craigslist. Yeah. Yeah. It’s sketchy too. But, on Craigslist I get to choose who I sell my stuff to. AND I can choose where to meet the buyers.

What if someone doesn’t want to give you your full asking price? You move on to the next potential buyer. What happens if they want to come to your house to pick up the item? Fuck that! Let’s meet at Starbucks! At least I know there will be security cameras there and maybe even police officers.

If you’re keen to the idea of hanging out in your front lawn for an entire day then yard sales could be a great way for you to sell a bunch of stuff at once, and a quick way to generate a few hundred dollars, or more. Try setting up a neighborhood-wide yard sale. By doing this you could attract more people and from all over. Clear out your attic. Load up your wallet.

Selling stuff is a great way to get extra money to put towards debt, or savings. Essentially you’re earning your Wastefully spent money back!

Every successful sale will help you chip away at your debt, or add to your savings. You may not be able to pay off all of your debt in this fashion, but it could potentially provide relief for times that debt seems like it might go unpaid.

Be vigilant with your debt! Having cash can burn a hole in your pocket if you aren’t careful. After selling items, head to the bank. Apply the money to any existing loans. Your future self will thank you!

Mrs. Moneyseed and I have been trying to sell pretty much everything we own that we don’t use or need on a regular basis. We’ve also been focusing on only buying things that we really need. It’s so important to us that any future purchases we make must pass an efficiency test: It must be high-quality, It must have the right price, It must stand the test of time.

We have two things that we’re going to put up for sale now: An e-reader and the most obnoxious, Wasteful coffee pot ever created (The Keurig). These are two items I just can’t justify keeping around. Since we are debt-free we can use the proceeds buy some Freedom.

You don’t have to be extreme and sell everything you own, but find the crap you honestly don’t need and turn it into cash.

money for old junk

$130! I think I’ll use this to buy some Freedom!

Update: I posted the Keurig and Kindle on Craiglist for $80 and $50 respectively.

I sold both items for the full asking price within two days of their listing. Just two days of e-mailing people back and forth just made us $130.00 and helped us get rid of items that were collecting dust.


Standard

18 thoughts on “Destroy your debt by selling your crap

  1. Dustin C. says:

    Love the post, I did find a way to make the Keurig cost effective with their MyCup that you can put your own ground coffee in instead of always buying K-cups, though the cost of the Keurig itself is pretty pricey.

    • We had purchased two of those, the first one didn’t work properly and sprayed water everywhere. The second one produced very watery coffee, and was a pain in the ass to scrape the grounds out of after brewing. I’m very satisfied with my traditional coffee pot, probably more-so after dealing with the Keurig for a few months.

  2. Briana T says:

    I feel the same way about Keurigs. Plus I like to make my coffee extra strong!

    Here’s a helpful hint for Student Loans. One of my loans was sold to Sallie Mae, who offers the Upromise program. It’s a great way to save a little money that you were going to spend anyway. You can hook up any of your credit or debit cards and if you purchase something at a supporting retailer, you get cash back. It’s a very MINOR percentage, but if you were going to spend that money anyway – you might as well! I also signed up for E-Rewards in this program. I’m emailed surveys that you can receive a cash value for. After a certain amount of money builds up, you can apply it towards your student loan. The surveys can sure seem like a pain, but if you aren’t do anything valuable with your time, why not?

    I also use my Capital One rewards credit card for every purchase and pay it off once a week. That way I get rewards for every purchase I make. This definitely doesn’t work for everyone, but those points definitely add up quickly and I don’t carry a balance!

    • Nice! I signed up for Upromise as well a while back and linked every single store card and credit card I have to it, but I’ve never received a single penny. I should look into it.

      It’s good to see that you’re into credit card churning! Making money on things you buy is a great way to generate some extra cash! If your credit is good enough to be eligible for a Capital One rewards card you should also sign up for American Express Blue Cash and Chase Freedom for even more money from places you already shop.

  3. Hi Johnny….

    We’re in the process of moving and are doing a bunch of sales on Craig’s and consignment.

    I never thought about arranging to meet people off site. Probably a good idea, but inconvenient.

    It is a pain weeding out the scammers and those that email expressing an interest only to vanish in smoke. Also seems no predicting what will move and what will go unloved and unsold.

    As for the Keurig, we considered one a few months back. We drink a lot of coffee and the idea of having it “on demand” appealed. But I couldn’t make the numbers work, even after adding in the occasional waste in brewing a pot. Your comments cemented the thoughts.

    • Johnny Moneyseed says:

      Jim — We would never have purchased a Keurig on our own volition. My mom bought it for us for Christmas we were really happy about it (at first). First of all, if you’re the kind of person that looks for the experience in whatever you’re doing, you’re going to miss that with a Keurig altogether. I actually enjoy my routine of making real coffee in the morning. Second, it makes crap coffee. Even if you buy “the good stuff” it can still come out watery, sometimes forcing you to burn through two K-cups to make one decent cup. And lastly, a bag of coffee for me (16 oz) lasts anywhere from 3-4 weeks and costs about $10. I would blow through a box of K-cups in about 10 days. At $12 a box, you can see where it starts to get expensive.

      Thanks for stopping by!

  4. I’m with you on selling stuff but I also am big on just giving it away if you can’t sell. I have a lot of family members who won’t sell something that is sitting around not being used if they can’t get the value they want which drives me bonkers as the house stays cluttered. If I can’t get value for something, I will definitely give it away–getting junk out of my house ensures that the good stuff I have around is used frequently enough (this applies especially to clothes).

  5. ubersteward says:

    I was looking for apple wireless keyboard a Craigslist and ended up buying 5 because the guy I was buying from had 5 that he wanted to get rid of. I bought 5 because I knew for sure that these apple keyboards will sell. I sold all 5 within a week and made $50 profit. I know there is lot of ways to earn small percentages here and there through credit cards and rewards and all that, but nothing beats buying and selling. If you know about an item that you are very familiar with, little research and common sense can help you earn extra $300-$500 a month from craigslist.

  6. Oh man, I hate those Keurig things. We are also selling a lot of accumulated crap, although we don’t really have any debt. It feels so good to clear out the clutter!

  7. Pingback: The Top 29 Best Personal Finance Sites For Recent College Grads To Read Today - Graduating from Debt

  8. Renee s says:

    i’ve actually found a great alternative to craigslist. There are a lot of areas by me that have facebook groups in which people who live in the area join the group and post things they have for sale. Everyone lives close enough that it is easy to go pick up and since they have to have a facebook account–it is less creepy. Of course there can always be scammers–but I have had great luck with these groups :)

    • Johnny Moneyseed says:

      Renee — I’m glad that there are other reliable alternatives to Craigslist. It’s shocking to me that Facebook is providing a service that is actually valuable. Hopefully they don’t shut it down. They used to have a great marketplace that they had to shut down for one reason or another.

  9. I have had a lot of success selling on eBay/Craigslist. I make it my weekly goal to have at least 10 items for sale per week. Sometimes I pick up a few things at local garage sales or facebook groups. But most of my items are as you say “crap” I shouldn’t have bought in the first place. Still I can get decent money out of the items AND when you factor that in with the magic of compound interest it really starts to add up!

  10. A man after my own heart…

    I sell mostly sell strictly on on eBay. I’ve sold phones successfully, lots of toys, antiques, vide games,and books. I got started with things around the house and have worked my way up to buying items at garage sales, flea markets, and thrift stores with the intention of re-selling. I like to think of I as a hobby that actually makes some side cash! Been padding my Roth IRA with some of the cash brought in!

  11. Pingback: I Say Thanksgiving "Wrong" | Broke Millennial

  12. Elizabeth says:

    While we aren’t in debt, there are a few things that I would like to buy in 2014 without spending our take home income (new bike (Craigslist is crappy in these parts), stuff for new baby arriving, etc). Therefore, I have resorted to setting weekly sales goals for myself to sell crap around the house. Sure, I could whip out the credit card and pay for these new items, but the act of purchasing, knowing how hard I worked to earn each dollar will make certain that I spend those dollars wisely. Thanks for the post!

    • Johnny Moneyseed says:

      Elizabeth — If you have family/friends in other areas of the country you should try expanding your Craigslist searches to their areas as well. I have a few friends in Maine that have to do this, and it’s worked out well for them.

  13. I’ve got so much stuff I’m slowly photographing each and every item we own as a (admittedly crazy) challenge. I’m only a month or so down the rabbit hole but have already netted thousands of dollars of eBay sales from stuff we no longer needed or wanted.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>