The Plan | Easy money

By Contributed

Sep 21, 2022

Cash lying around: You could have a gold mine in unwanted goods around your house, which can be easily sold online. Photo: AAP Image/Julian Smith. Photo by JULIAN SMITH

The Plan is my personal challenge to try 50 different ways to make or save $500 in one year. With rising costs of living, so many of us are feeling the pinch, and even people with generous budgets might be looking at ways to make their money go a little further. For those following along at home, this instalment marks the first item in the ‘make’ category, and it is an easy one. So, come on, let’s make a quick 500 bucks.

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This is a privileged statement, I know, but most households I know have at least $500 worth of unused, regrettable purchases lying around the house. And with the advent of online selling services, it’s never been easier to offload these unused items for cold, hard cash. I quickly passed the $500 benchmark early this year by selling things I no longer needed. All you have to do is take photos on your phone and upload them to an online platform such as Gumtree or Facebook Marketplace with a brief description and you can start making money the same day.

This year I have sold old exercise equipment, unused kitchen items, dresses I’ve worn once to weddings, clothes I bought online that never really fit, sneakers, toys the kids have outgrown, the list goes on. I have a friend who once sold her husband’s old sunglasses that he had forgotten about for years and left in a cupboard for more than $100! You will be surprised at the value of your unused items. As they say, one man’s trash is another man’s treasure!

Some tips I’ve picked up along the way are to include lots of photos and details about your items. People like to be confident about what they are getting with any online purchase. You should include the size, colour, materials, brand name, any damage or signs of wear and tear, pick-up location, and any other relevant details. For clothing, bedding and soft furnishings, you should include whether or not your home is smoke and/or pet free. People with allergies need to know this.

As for pricing, I’ve noticed that people rarely will pay more than half of the brand-new retail price of the item. There are some exceptions — certain musical instruments or collectors’ items do appreciate in value. For the most part, however, people are shopping on these second-hand sites because they want to save money, so be reasonable with what you’re asking if you want a quick sale.

Don’t know how to use a phone, or don’t have Facebook? Ask a friend or family member to do it for you. I come across lots of listings online that start with the phrase ‘Selling for a friend’. Or, you can kick it old school and list your item in print in the classifieds section of a local paper or on a community noticeboard.

Look at the things around you differently today and you might find you have money hiding in plain sight.

The author of The Plan has requested to remain anonymous in order to shine a brighter light on some of the more challenging aspects of their recent financial hardship.