Yahoo Finance 6 Things the Middle Class Should Sell To Build Their Savings
If you feel as though things are getting more expensive these days, you’re not alone. The majority of middle-class Americans report that they’re struggling financially, stressed with paying debts and unable to build their savings.
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Will scrimping and saving make you rich? No, but it can help you gain financial stability and support your goals. One simple saving technique is selling things you no longer use. This quick guide will cover six things middle-class Americans can sell to support their savings, from big-ticket items to the little things cluttering their homes.
How To Sell Your Used Items
With retail prices on the rise, secondhand shopping is gaining popularity all over the world. Online marketplaces have made it easier for buyers and sellers to connect, negotiate and safely exchange goods.
Some of the best platforms to sell your used items include:
eBay
Facebook Marketplace
Craigslist
Local rummage sales
Consignment stores
Directly to friends or family
You can also host your own garage or yard sale to sell multiple smaller items at once. Wherever you choose to sell, be sure to take precautions. Choose public locations to meet online buyers and always bring a friend or family member with you.
Another tip: Don’t accept the first offer you receive. Research the value of your item and keep your listing up until you can sell for the right price.
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The 6 Best Things To Sell
If you want to make some extra cash and boost your savings, consider selling these six things. While some of these items are more profitable than others, they can all help support your financial goals.
1. Clothes
Clothing is the most commonly purchased secondhand good in 2024. At thrift stores, consignment stores and online marketplaces, more and more people are choosing used clothes and shoes over brand-new ones.
That also means the value of quality secondhand clothes is going up. Instead of donating or throwing away clothing items you don’t wear anymore, why not sell them? Even if it doesn’t add much to your savings account, it can help you offset the cost of buying new clothes.
2. Used Cars
The average American household has at least two cars. Downsizing your vehicles can be tough, especially if multiple people work outside the home. However, if you’re able to reduce the number of vehicles in your household, you could grow your nest egg by selling your used car.
The average selling price for a used car today is over $30,000 in most states. Depending on the make, model, year and mileage of your vehicle, selling a car can add a considerable boost to your savings account — not to mention how much you’ll save on gas and maintenance costs.
3. Baby Items
As your kids get older, there’s no need to hold onto those used baby items. Baby clothes, cribs, strollers and car seats are all popular items on online marketplaces. Not only will you reduce clutter in your home and earn some extra cash, but you’ll also help other parents make more sustainable, budget-friendly purchases.
4. Furniture
Did you know it can cost as much as $5,800 to furnish an apartment with just basic furniture? With those high prices, it’s no wonder there’s a profitable market for used furniture.
Consider selling any furniture items in your home you don’t regularly use. That could include guest beds, old dressers, chairs or décor such as rugs and wall art. It’s a great opportunity to declutter your space and get a fresh start while adding a few thousand to your bank account.
5. Electronics
If you’ve recently upgraded your smartphone, laptop, TV or another electronic item, it’s time to sell the old model. Trends come and go quickly in the electronics world, but older items still have value. This is especially true if you own vintage tech — a single Nintendo Gameboy now sells for over $60.
Have old electronics that no longer work? You can still sell them or trade them in on sites like Decluttr.
6. Rental Space
Renting out a room or additional living space in your home is one of the best ways to earn consistent passive income. If you don’t want to take on a permanent roommate, you can host travelers through Airbnb or another rental platform.
You don’t need a separate home on your property to start a vacation rental. Airbnb and other sites accept single rooms, shared rooms, and semi-private spaces such as a converted garage or shed. If you have enough open space on your property, you could even set up a campground.
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This article originally appeared on GOBankingRates.com: 6 Things the Middle Class Should Sell To Build Their Savings
