How to Make Money with a Garage Sale

If you are looking for a great way to get rid of household clutter, a garage sale can be just the ticket to turn your junk into cash. Easy to plan and manage, garage sales are a great way to clear out all of your old belongings and regain your precious storage space. Also if you are planning to build a new garage, conducting a garage sale will help you get rid of the unnecessary items. To get started planning your garage sale, follow these simple steps:

1. Gather items to sell:

Go through the boxes in your attic, shed, closet, and garage to select items you wish to sell. Then, walk room to room through your home and identify items you no longer need or use. Many people have trouble parting with items even when they are not being used. If you belongings have not been used for over a year, chances are you will not miss them.

2. Inventory your belongings:

Many homeowners skip this step but it can be extremely helpful on the day of the garage sale in case price tags get lost. It can be hard to come up with a fair price on the spur of the moment under pressure but an inventory will help. 

3. Label each item or box of items:

Attach a brightly colored label with the price to each item. For similar items you can save time by putting them into a box together and labelling the box but be sure to include the boxes and their contents on your inventory sheet. 

4. Review your inventory and assign prices:

If you have items you simply wish to get rid of, price them accordingly. After all, you don’t want to end up backing them back into storage if you try to get too much money for them. For more valuable items, it is common to charge about ¼ of what you paid or less. You may wish to make exceptions to this rule for certain items that are practically new or any valuable antiques but keep in mind that garage sale shoppers are looking for a bargain. 

5. Obtain a permit if required:

Some city’s may place restrictions on things like the placement of signage, hours of operation, or frequency of garage sales so be sure to check local regulations. 

6. Set a date and advertise:

Two-day garage sales are often the most successful and summer weekends are the best time to have them. Advertise before you sale in the local paper, free weekly community papers, and online resources like Craigslist. Be sure to mention any big ticket items you have for sale. Make and hang signs around your neighborhood. Include times and location of the big sale. 

7. Tidy up:

Garage sale shoppers are more likely to buy if it looks like the merchandise is from a home with owners that take care of their belongings. They are also more likely to feel comfortable stopping to browse if the sale space is clean and attractive. So make sure that the sale is put up in a well organized and clean garage space.

Finally, before you set up for the day, go to the bank and get some rolls of change and smaller bills. Keep in mind that many people who wish to buy from you will probably have 20 dollar bills and will require a fair bit of change.

Author Bio:

Anne Flemings loves interior designing and is always in pursuit of the latest changes and trends in home improvement. Her other interests lies in cooking, painting and blogging. She is an enthusiast homemaker who lives in Toronto with her husband and two kids. You can follow her on twitter @AnneFlemings



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How Bankruptcy Can Help You Survive Financially

There's a bankruptcy myth floating around that says most Americans who file for bankruptcy do so because they lived a lavish lifestyle and spent beyond their means. However, according to a 2013 CNBC report, more than half of all bankruptcies are initiated due to medical bills. The stereotype of people filing for bankruptcy because they spent too much and got in over their heads with credit cards no longer applies in today's economy. Here are some of the ways bankruptcy can help those who face debts they're unable to pay:

Debt discharge

The most evident advantage of filing for bankruptcy is that it forgives many forms of debt, including credit cards and medical bills. This means you're no longer responsible for paying them, giving you a clean slate. Giving yourself a clean slate will allow you to get your personal finances in order and under control. This should help you reduce any stress you have over your money as well as any family stress that might be present. Then finally the day that you make it out of debt, you may find yourself with an overwhelming sense of freedom.

Debt reorganization

There are several types of bankruptcy, and not all of them wipe away debt. If you file for Chapter 13, your debts can be reorganized and consolidated into a more manageable solution for repayment. Though this may not be as good as getting your debt completely forgiven, it will still allow you to get your finances in order in order to pay off your remaining debts. Think of it as a long-term strategy to getting yourself to be debt free and out of bankruptcy within a certain period of time. 

End collection harassment

Creditors are probably the worst part of being in debt. However, if you have to file for bankruptcy, one of the most immediate advantages of bankruptcy is that the court will issue an 'automatic stay,' which legally blocks menacing creditor and collection agency phone calls and letters that rob you of peace of mind. Being in bankruptcy and massive amounts of debt is horrible and you feel horrible. It creates tremendous stress on you and anyone that might be around you. Peace of mind is important while you are trying to recover financially. The last thing you will need is harassment from those mangy creditors even if it is their job to come after for the debts you owe.

Stop foreclosure and repossessions

A common misconception is that you will lose all of your property when filing for bankruptcy. However, there are federal and state bankruptcy exemptions that allow you to retain your house and even personal property such as jewelry. Bankruptcy consulting firms are a rich resource regarding bankruptcy laws. Consulting firm like Exelby & Partners Ltd. can assist you with the bankruptcy process and help you retain as much personal property as possible.

Stop wage garnishments

Some forms of bankruptcy can even put an end to wage garnishments. Again, a bankruptcy firm will know how to legally stop such a garnishment.

Financial advisor Suze Orman gives the following advice about filing for bankruptcy: "When somebody really doesn't have money to pay their bills then they should claim bankruptcy and face it right on and start all over again." In fact, in a recent interview with Oprah Winfrey, Orman concluded, "You just need to know that your credit will eventually recover, and it's not that big a deal." The various bankruptcy options available are an effective means of assisting those who struggle with debt and often are unable just to meet everyday expenses.

How Bankruptcy Affects Your Credit Score

If you are facing bankruptcy, you’ve probably already realized that your credit score is going to take some damage. You now want to know the hit your credit score will take, how long it will take to recover from bankruptcy, and how to find someone to help you through the process. How far your credit will plunge is entirely dependent on where your credit score is at when you file. After bankruptcy, most credit scores end up in the 520-540 range regardless of where your credit began, so your score will fall much farther if you start with a score of 720 than it would if you’re starting at 600. 

Not All Bankruptcies Are Created Equal

When it’s time to file for bankruptcy, you need to decide if you will file for Chapter 7 or Chapter 13 bankruptcy. Chapter 7 bankruptcy, sometimes referred to as a “straight bankruptcy,” offers a clean slate and a fresh start. But it comes at a high cost—your assets are liquidated and used to pay off as much of your debt as possible, and it stays on your credit report for ten years. If you have a large number of personal assets, this may not be your best option. 

According to a financial advisor specializing in bankruptcy in Utah, Chapter 13 bankruptcy is for those who have property they wish to keep. It reorganizes your debt and helps you create a plan to pay off your debt over a period of three to five years. With Chapter 13 bankruptcy, your assets and property will be left alone, for the most part, making this option more popular with homeowners than Chapter 7. At the end of a period of time determined by the terms of the Chapter 13 bankruptcy, the remaining debts are forgiven. 

Seeking Help from a Professional

Filing for bankruptcy isn’t the sort of thing you should try to do alone, and it may not be the right decision at all for you. The most important first step you can take is to schedule a financial consultation with a good bankruptcy lawyer, whose job it is to educate you and help you make the best decisions possible regarding your financial future. A bankruptcy lawyer can assist you in understanding the consequences of bankruptcy, assessing your alternatives and reaching an informed conclusion as to how to manage your financial situation from there on out. 

Your financial situation now could very well influence the rest of your life, so it’s of the utmost importance to gain as much education as possible on how bankruptcy will change that situation before moving forward. Our government has laws in place to protect those who file for bankruptcy, but trying to navigate them on your own can be nearly impossible. An experienced bankruptcy lawyer can help you make sense of the legal and financial jargon, getting you the best deal possible when it comes to the terms of your bankruptcy.

A bankruptcy lawyer may also be able to coach you through preserving some of your credit during the course of your filing and subsequent bankruptcy period. These professionals often have experience with money management techniques and debt relief strategies—use this experience to your benefit by inquiring about strategies you can use to quickly rebuild your credit after declaring bankruptcy.

Filing for bankruptcy can be a scary, but necessary, decision you have to make to ensure a better financial future for yourself. Your damaged credit will not last forever, and in time you will be able to rebuild your score. You are taking a fresh step to a brighter financial future.

Retirement Fun: What to Spend that Leftover Cash On

You have worked all of your life to save money, and now you have leftover cash in your retirement account. There are some fun things you can do with that money like vacations and dinners, or you can make a few improvements in life for fun that will last longer. 

Vacation Time

Instead of getting up early for work every morning, why not get up early to see the sun rise over the ocean, or take a walk along a mountain trail? Use some of the money you have leftover on a dream vacation. This could be a cruise, a trip to a mountain lodge, or a vacation to a beach to walk along the sandy coast. You will have plenty of time to enjoy your vacation as you don't have to worry about getting back home. Take the time to enjoy a good meal you wouldn't normally have at home, or go shopping for souvenirs to remember the trip. Retirement is the time to live out the dreams you’ve had all your life.

Learn a Little

If you want to stay at home instead of traveling, then consider adding an area in the home where you can read in comfort. Add a comfortable chair and bookcase to hold all your books. Learn about something you are interested in, but never had the time to read about. This could be anything from how to plant a garden, to reading about your favorite musician. You can also take a class at a community college to learn a skill you can use for a part-time job or hobby. 

Home Renovations

Now is the time to make your home look how you’ve always wanted. Add a new room for guests or put in that deck you’ve dreamed about. A Nanaimo custom home builder can give you ideas on ways to use a new room or how to update an existing room so it becomes more functional. Some home renovations in Nanimo might include new carpet, or new cabinets in the kitchen. 

New Adventures

Instead of sitting on the front porch swinging every afternoon, get out and enjoy life by going on an adventure you have always thought about. Take a hot air balloon ride over the city, or explore the Grand Canyon. Take a tour bus ride to a fun destination like Niagara Falls. Try kayaking down a relaxing river, or hiking up a mountain. The adventures are endless, and you can choose how often you want to go, or if you want to go with friends. Some adventures cost little to no money so you can save retirement funds for other fun activities or necessities. 

Become a Collector

Fill your home with stuff you like, and never had the time to collect while you were working. Put your efforts into collecting things you know you will cherish. Find something that holds a special place in your heart, such as precious stones, or American flags. If you have never collected anything, then go to a flea market or specialty store to see what your options are, before making an investment in something that will only clutter the home. 

Invest in Family

One of the best things that you can do is invest in family. Start a savings account so family members will have something to divide after you pass away. Create memories by taking everyone on a vacation, or get a family portrait made so you can have a special keepsake for the rest of your life.

You only have one life to live, and after you have worked through most of it, there are things you can do with retirement money that will make your later years more memorable. Whether it's adding a new room or simply taking a short vacation, do something that will make you happy.