Skip to main content

One Man's Trash

I run an online retail business. It’s not big, but it’s mine. I’ve been doing this for a long time–over 17 years. Being in this line of work also allows me to do something that most women (and occasionally a brother-in-law) love to do, and that’s spend money. For me, shopping is all about getting a great deal. I buy something and sell it online, and the less I pay for it the better return I get on my investment. It’s pretty simple math. And it’s kind of fun.

Every once in a while, I find something that I really like, and I buy it from my business to use personally. Sometimes once I get it home, I change my mind (ever done that?) and take it back to the store. Sometimes I wear it once or twice and never again. Occasionally there is an item hanging in my closet with the tags still attached. Sound familiar?

I’m sure you have a few things lying around that have a similar story to those flip flops I bought on clearance last fall. Why is it that we let stuff sit around and take up not only space but potential earnings, especially in today’s technological-advanced world that lets us offer said items to a whole world of people that can’t wait to spend money online? And couldn’t you use the extra cash to reduce or eliminate some unwanted debt (maybe even the initial purchase in the first place!)? There are lots of places online to sell things: Craig’s List, Facebook Marketplace, Amazon, eBay, PoshMark, Mercari, ThredUp…and that’s just off the top of my head. Let me tell you, once you get the rush for trading your stuff for cash, as long as you channel your money and your energy, you’ll be well on your way to debt-freedom before you know it.

Comments

Post a Comment

Popular posts from this blog

Stack or Roll?

Last week I gave instructions to put your debts in order from the smallest balance owed to the largest balance owed. And, it is in this order that I intend to instruct you how to pay them off–you will pay the smallest balance first, and when that debt is paid in full, you combine that payment (that you are no longer paying because you are DONE with it) with the payment of the second smallest debt….you roll the first payment into the second debt. This allows payments to get larger and larger as you pay off creditors and is called debt snowballing . This system works for most people, is by far the easiest to understand, and allows you to see quick progress which is most likely to keep people motivated. But I would be remiss if I didn’t tell you there is another way to organize your debt, and that is by the percentage of interest you are paying–the creditor with the highest interest rate goes at the top of the pile, and you pay off that creditor first. When that debt is paid off, yo...
1 comment
Read more

Say "Ahh..."

I cannot believe that in all my months of blogging that I have not used–I checked–one of my most favorite quotes of all time. Benjamin Franklin once said, “An ounce of prevention is worth a pound of cure.” The gist of it is that it’s easier and cheaper to fix something small than it is once it grows too large. It sounds like Franklin’s original intent might have been health-related (think cancer), but it can be applied to anything that needs maintenance (think car problems). Your house is no different. Side note; if you are renting, you can thank your lucky stars at this point. Renters are not responsible for regular home maintenance. However, this is also one thing that potential home-owners don’t usually think about when they are getting “house-hungry” and “throwing their money away on rent.” If you have too much debt when you try to buy a home, you are probably asking for more financial trouble. Now, let us return to the subject at hand. Why this time of year? You ask? Well, t...
Post a Comment
Read more

Gifts that Matter

When I think about my childhood, there are a few events (some good, some not so good) that really stand out. These specific incidents made big impacts on me, so they really stuck. I bet you can say the same thing. These encounters, good and bad, help shape who we are. As parents, it is our job to teach our children to be honest, upstanding, contributing members of society. This does not happen by accident. Part of this process involves the experiences we give our children–we can orchestrate PEAK moments for our families that will leave lasting impressions on young, impressionable minds. What is a PEAK moment? According to de Jager Meezenbroek, Garssen, van den Berg, van Dierendonck, Visser, and Schaufeli in the Journal of Religion and Health , “Peak experiences are often described as transcendent moments of pure joy and elation. These are moments that stand out from everyday events.” Christmas offers an EXCELLENT opportunity to offer experiences that can become “PEAK moments” in ...
Post a Comment
Read more