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How to Use a Yard Sale to Build Savings

Apr 30, 2018

5 Yard Sale Tips to Build Your Savings

Organize and Set Up

Let’s get started! To prepare for any yard sale, organization is key. In the days leading up to the event, post printed flyers around the neighborhood to promote the date, time and location of the yard sale. When it comes to setting up your event, use tables and hanging racks to nicely display items. It’ll be easier for neighbors to avoid digging around the ground for knickknacks. It also helps to categorize items into specific groups: clothing, electronics, furniture, jewelry, household items, power tools, etc. Hosting a well-organized yard sale will increase the likelihood of guests purchasing more goods.

Search for Supplies

As the saying goes, one person’s trash is another person’s treasure. Search your house for gently used items that you’re no longer using and would like to give away. Top selling yard sale items to consider are larger items like sofas and chairs, household appliances, electronics, power tools and jewelry. Items for babies or toddlers, including toys, books, clothing and strollers are also wildly popular. Clothing for both adults and children are common yard sale pieces. If you don’t sell every piece of clothing at your yard sale, consider donating the leftover items to charity.

You also might want to consider items that should not be sold at a yard sale. Don’t sell used care products like lotions and toiletries. Additionally, old coins and collectibles will be priced higher by a professional and shouldn’t be sold at a yard sale.

Price Items Reasonably

If you want to bring in some extra cash, price yard sale items reasonably. Neighbors won’t buy anything that is marked too high. Price clothing low, especially items for babies and toddlers. Baby clothes should be priced anywhere between 50 cents and $3. Adult clothes can be marked slightly higher, but should typically fall between the $3 and $5 range. Shoes and coats are bulkier items that can be a few dollars more. Big ticket items like furniture will probably be the most expensive finds at your yard sale. Depending on the quality, antiques could be priced anywhere between $30 and $100. Price lower-quality furniture under $30.

If you’re having trouble moving merchandise or looking to do a big push before closing up the yard sale, allow people to make their best price offer on items or mark everything down to 50 percent off!

Sell Unused Supplies in Consignment Stores

Spring cleaning is a great way to make space in your home and start fresh. If you don’t sell every item at your yard sale, consider selling unused supplies in nearby consignment stores. This is another opportunity to make some extra money. Anything that doesn’t get sold in the stores can also be donated to charity.

Use the Cash for a Financial Goal

Put the money earned with these yard sale tips toward a financial goal. Common money goals include paying down debt or adding the extra cash to a savings account. Do you have a fun summer trip you want to save for or a bigger picture savings goal? Use the extra funds toward reaching that target.
A successful yard sale can be achieved by organizing items, seeking out the best supplies, marking items at a reasonable price, selling extra supplies in a consignment store and putting the extra cash toward a savings goal.

erin_elis

Erin Ellis
Accredited Financial Counselor ®
Philadelphia Federal Credit Union
eellis@PFCU.COM
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