Frugal Student Tip #14 – Make Money – Sell Your Stuff

Make money by selling your stuff, but be informed and stay safe with these tips.Are you cash-poor but item-rich? You may be able to make money by selling things you no longer need or want.

There are many ways to let go of clutter and clothing, from Craigslist to consignment.

Be Social

One quick option to make money is a social media post. It’s amazing how often someone you know is looking to purchase an item you’re trying to get rid of, from chairs to winter coats. Keep in mind, though, selling to friends can open up a can of worms if anything goes wrong, so be sure in your post that your terms are clear (such as “must pay cash” and “first come, first served”) and that you are completely honest about the condition of your item(s).

Give Me a Sign

A sign on your dorm or apartment bulletin board, posted near the mailboxes or other high-traffic area, can yield quick results. Just make sure it’s all right to post items for sale according to your residence hall or apartment rules.

Sell Sell (Re) Sell

If you have a lot of stylish brand name clothing in excellent condition, well-established re-sellers such as Plato’s Closet can be an easy and effective way to make money quickly. Nationally affiliated stores usually have their sales procedures posted on their web sites, so you aren’t in for any surprises when you show up with your items, and most are prepared to pay you the same day for your goods.

Local consignment stores can be a great way to go, as well. For one thing, they may not be as stringent on age and style as some of those that carry trendier items. Since most are locally owned, their policies can vary by a vast degree, so make sure to call ahead (ideally to more than one) to decide if this will be the best fit for your needs. Some stores may not pay until your item sells, and some may only buy clothing appropriate for the upcoming season.

Online Options

Craigslist and eBay are certainly well-known ways to make money, though you need to be very cautious if you’ll be meeting up to make the exchange, and you need to give some forethought to payment options. Reading up on tips for selling online is highly recommended, as no amount of money is worth compromising your safety. Luckily, there are many great tips available online, so do some research and figure out a good plan if you go this route.

Is It Worth It?

Of course, sometimes it doesn’t make sense to try to make money by selling your stuff and the only answer is to donate. Selling on eBay and Craigslist can be kind of a pain, and time-consuming as well. Sometimes the stuff in question just isn’t in good enough condition to sell. And sometimes, your time is just worth more than any money you might make.

Take a look at the tips in Andrea Dekker‘s post To Sell or To Donate: That Is the Question for help in making a clear choice.

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