In 1979, my husband was history with the slamming of the front door, but the already past due mortgage wasn’t. At the time, I had two young children, no job, our credit was non-existent, and there was no one who could help me out. Somewhere in that character defining moment, I remembered my grandmother’s own courage inspiring adage, “There are no sacred cows. In tough times, all you need is your WIT.”
WIT in Grandma Daisy’s survival dictionary, was a depression era shorthand for “Whatever It Takes.” In the month’s that followed, it took selling my wedding ring, my other jewelry, most of my furniture, pawning my sewing machine, and living on fish sticks and macaroni and cheese – just to make that monthly house payment. I survived tough times and so can anyone who keeps their wits about them!
In 2008, with skyrocketing gas prices, the decline of the U.S. dollar, ever-increasing basic grocery outlays, a mortgage crisis, and jobs fleeing our country – more and more everyday, Americans are finding themselves with similar temporary financial emergencies. It’s just as important today, to understand the many options of doing “whatever it takes” to get yourself out of a temporary financial disaster. Here is one beginning foundation for raising cash quickly that you may not have considered:
Simplify your life for fast cash – by merely looking around your home for unnecessary “sacred cows.”
First, collections of anything definitely qualify for this method of raising quick cash. Think about it, do you really need two hundred DVDs, CDs or any other collectible item? Reflect in the context of a collection vs. a roof over your head, or being afraid to answer the phone due to credit collectors vs. further trashing your credit. Passionate collections can be reproduced or replaced afterwards, in better times. Other items that fall in this category are electronic games and electronic devices.
Proven avenues for rapid unloading some collectibles and small electronics is to sell them at pawn shops; buy, sell, and swap shops; or to dealers who advertise “items wanted”. These methods will not get you the best price, but will get you instant cash. More time consuming and less reliable ways to unload them, is to put them on Ebay, Craig’s List or in consignment shops. These methods will take longer. On the other hand, the fastest and most price effective way is to sell them yourself, at either a yard sale or at a local flea market.
Next, simplify further by stripping your home down to basics. Get rid of anything you do not use, do not need, does not have sentimental value, or can be easily replaced. Price everything to sell, don’t be bogged down by over-pricing solely based on what you paid for the item in the first place. Having many items bargain priced to sell vs. pricing at what you’ve seen at other such sales, will net you the results you need. In determining your asking price, think about overall volume vs. price of all the items you’ve selected to sell.
It is also important to know what sells and understand who buys. Historically, guy stuff sells and men will fork over money much easier than women, who would rather spend more at big box discount stores, than buy used. Useful, everyday items can also be cash treasure troves in hasty cash accumulation.
Another proven method for speedy unloading household goods, is to have the mother-of-all yard sales (if you have a good location) or haul everything to the local flea market. Another method is to simply send them to a local auction house. This method could take longer and you need to remember it will cost you in both auction fees and taxes.
Finally, if your financial situation is serious and you need a lot fast cash, earnestly consider a quick sale of large ticket items, such as a boat, or an extra car, an ATV, golf cart, riding mower, or extra TVs, sound systems and the like. Most Americans have far too many of such possessions and while they make life more enjoyable, they are expendable. It’s a whole lot less embarrassing to not own such items, than to risk losing your home, have your car repossessed, or be hounded by credit collectors. In the end, you may discover as I did, that starting with a clean slate and living debt free has its own rewards.