When it came time for me to get myself out of debt, I had to think of ways to not only eliminate extra spending, but I had to come up with ways to also bring in more money. By selling my junk, I was able to pay off my debt far faster than I had originally hoped to.
A quick look around your own home may reveal some great sources of income if you can bear to part with stuff you no longer want, need, or use.
Click through for 7 things to look for around your home to bulk up your savings account …
Sell Your Junk! 7 Items You Already Own That are Just Waiting to be Sold 1 of 8
Image source: kevin dooley
Cellphones and Electronics 2 of 8
The old technologies you no longer use can be sold for cash. Recently I upgraded my iPhone 4s and got the iPhone 5s by simply selling my old phone back to my cellphone company. While I technically didn't need the latest and greatest phone, I was able to get the new phone for free just by doing what essentially amounted to a trade-in! My old phone was worth $299 and the new phone was $299, so I didn't have to pay a single cent to get the new phone. I had no idea cell phone company "paid" that much for old model phones, so I was happily shocked to make this discovery.
There are even online sites that pay you for old electronics (like Amazon, Gazelle and BuyMyTronics), and there is an increasing number of physical locations where you can offload your old stuff (Craigslist, pawn shops). Even kiosks in shopping malls make it easy to exchange old phones for cash. Do your homework to find the most reliable place to do business with and get the fairest deal.
Image source: GONZALO BAEZA
Good-Quality Adult Clothing 3 of 8
Consignment stores or buy-sell-trade shops (think Buffalo Exchange and Scout: Dry Goods and Trade) are a great way to offload the brand-name, designer, and high-quality clothing and accessories that are just lingering in your closet. You can also sell items on your own through eBay and similar online sites.
Image source: I LOVE SCOUT
Kids Clothes in Bulk 4 of 8
When your child outgrows a size range of clothing, sell the lot of clothing (again Craiglist is a great place sell) to de-clutter your drawers and earn some extra cash. Ask other parents you know from moms' groups who have younger children than yours if they'd be interested in the lot of clothes. Put up signs at the school, send out an email, or post your available items to Facebook.
Other parents will like the ease of buying clothes in bulk based on size and gender, so you may be more likely to sell successfully than if you sell items individually.
Image source: guerdahere
Collections 5 of 8
If you have any notable collections that do nothing more than collect dust, it may be time to sell them to another interested party. Dolls, toys, coins, and stamps may all net you some decent cash. If you no longer actively participate in collecting, find a reputable collector or an auction house that will buy or sell your stuff for a fair price.
Image source: Dee Speed
Jewelry 6 of 8
Good-quality jewelry and gold can be sold for cash. If there are pieces you no longer use or want, you can find reputable jewelers or gold buyers who will happily trade your pieces for cash. To sell quickly, safely, and with little hassle set your sights on jewelers, diamond deals or pawnbrokers. Just make sure you know the value of your items so you get the best deal and have a leg to stand on when it comes time for negotiating.
Image source: negative13
Gift Cards 7 of 8
If you have received gift cards as a gift and never got to use them, you can resell them to others. There are online sites that will resell your gift cards for a small fee or you can sell them yourself for face value. Some online resources are: Plastic Jungle, Carpool, and Gift Card Rescue.
Image source: 401(K)2013
Exercise Equipment 8 of 8
Many people buy fitness accessories and equipment with the best of intentions. If your machines are used more often for drying clothes than your personal fitness, sell them to interested parties using online sites like Craigslist or by advertising in your local newspaper.
Image source: Brisbane City Council