Making money with thrift storesGood morning Dinks. Last week, I discussed different side hustles that you can start. I know that people get in various situations from time to time and they need to make some extra money. One of the ways that was listed in my previous post was to sell on eBay. Today, I want to discuss how you can make money with thrift stores.

eBay

The thrift store is one of the places where you can find inventory for eBay. They have hundreds of items for you to look through. Don’t be afraid to visit different stores. You may end up being pleasantly surprised. Below are a few tips to get you started.

Find Stores

The first thing that you should do is figure out where the thrift stores in your area are located. A quick way to do that is to do a quick search on Google. In my city, there are 15 thrift stores in a 20-mile radius. Figure out what stores you want to visit and make it happen.

Look around

Once you get to the thrift store, take some time to look around. Most thrift stores are set up differently, meaning that none of them are organized the same way. Take a chance to see how each store is set up. Look for the clothes, shoes, antiques, toys and book section. See the different type of items that the thrift store has. Some thrift stores will have better quality than others. Some thrift stores won’t even have anything you like, but that’s fine. You can always check back another day.

Check Prices

This is the fun part. Check the prices of the items in the thrift store. Certain thrift stores are cheaper than others. You’d think that every thrift store would have the same low price, but they don’t. Some are trying to make more money than the others. I’ve seen old Nike shoes sell for $6.99 at one store, then sell for $39.99 at another store. If I wanted to pay $40 for the shoes, I might as well go to Finish Line or Footlocker then.

Decide to Purchase

You’ve looked around the thrift store and see some items that you like. If you think you can make some money off of them, it’s time to buy them. If I don’t think I can double my profit, I typically don’t purchase the item. It’s a waste of time. The worst thing that you can do is buy some stuff, and they either don’t sell, or you sell them for a lower amount. Unfortunately, I’ve done that before. I don’t want y’all to take any losses.

When you want to make money with thrift stores, remember to find out the locations, make sure that you carefully look around each store, check the prices and decide if you want to purchase the item or not.  I’ve been buying and selling items from thrift stores for a few years now. It’s a very easy way to make some extra income. Anybody can do it. The tips above will help you out.

Have you made money with thrift stores before?

trump-1822121_640Big changes are coming. For the first time, the President Elect of the United States has no government track record, and analysts are scrambling to field predictions about what the next four years have in store. On the campaign trail, ‘ole Donnie Trump was pretty mute on the future of student loans and higher education, but the few remarks that escaped his camp have not made the future look especially bright and shiny for new student loan borrowers. Here are some things you can do right now to fend off student loan changes under a Trump presidency, as well as remarks from the Trump camp that all borrowers should be aware of.

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money-challengeThere have been multiple money challenges out there. One of them, the 52-week money challenge has gained a lot of popularity during the last couple of years. The 52-week money challenge works for some people, while others start off strong and fall off to the wayside. I recently stumbled along and found another challenge that seems pretty interesting. It’s called the 365-day money challenge.

Pay Yourself

The concept of the challenge is pretty simple. There are 365 days in the year. Each day before you go out, you need to pay yourself first. That is very important. Paying yourself first means that you don’t have to worry about that later.

The second important point is that until paying yourself first becomes a habit; it needs to be extremely easy to do. It takes 21 days to form a habit, so it’s important to make saving as easy as possible for those first three weeks.

How it works

Each morning when you get up, you need to pay yourself some amount before you do anything. The payment can be anywhere between a penny to $3.65. Once you’ve made that payment to yourself, you “x” out the box on your chart. The next payment the following morning can be any of the remaining amounts on the chart. You do this each and every morning for the entire year. When you are done, you will have saved $667.95. Even better, you will have started the habit of paying yourself first which will be an asset for the rest of your life.

365-day-saving-money-challengefilled-in

There are a couple of important steps that go along with the challenge. After printing out the challenge sheet, you need to place it somewhere where you will see it every morning. The bathroom or your room is fine. It needs to be visible so that it’s in your face each morning.

The second thing is that you need to physically make the payment each morning. You need to go to your purse or wallet and place the amount you decide to pay yourself that day into a jar that is specifically for this challenge. That payment is important. It will benefit you in the future.

There are two advantages to this challenge over the 52-week money challenge for those who struggled to get their finances in order. The first is that you’re starting with small amounts that anyone, no matter what their current financial situation can participate in. If all you can do is pay the minimum amount each day for the first month, you’re only out of $4.65 for three days. There should be nothing holding you back.

The second main advantage is the challenge is done daily. It requires you to think about saving every day. Even though the amount that needs to be saved isn’t that much, the process of thinking about it will cross your mind each morning as you pay yourself. By the end of the 365 days, paying yourself and saving money each day will be a natural part of your day. When you are only thinking about saving once a week, it can turn into a situation where saving money is only thought about at the last minute at the end of the week, and the process never gets instilled as a habit.

If you’ve attempted other money challenges such as the 52-week challenge and failed, you should consider trying this one. $667.95 is a good start to an emergency fund. Doing it will put you in a position to save more money down the road.

 

 

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