Sunday, October 5, 2008

How To Make Extra Money

So you're reading how to make extra money, which means that I felt a need to make a blog on how to make extra money. It's really unfortunate that we find ourselves in a time of recession. Actually, we might be on the verge of another Great Depression. The failing of banks weekly, the closing of huge stockmarket companies that survived the Great Depression, but yet closed just a few weeks ago, is all pretty scary stuff. I didn't think too much of it, until I started reading some pretty well respected economists and financial advisors saying that someone had predicted this would all happen. Who could have known this would happen? Well, there were a few economists that knew the signs. They are now saying that we're in a pretty bad state economically. We may just sail right through more bank failures, more personal bankruptcies. More businesses closing and head straight into another Great Depression. I don't know about you, but that frankly scares the hell out of me.

So I started thinking about what I could do to make extra money and how to make extra money. To make extra money to squirrel away in a savings account for the future if things got really bad. I could be paranoid, I could be overreacting, but if some educated economists, people with a greater understanding of finance and the economy better than I do, are saying that we had better batten down the hatches because it's going bad, then I think I'm going to listen to them.

So I started this blog to keep track of my ideas in that maybe it would help other people on how to make extra money. I've been thinking of some ways to make extra money. And of course the obvious one is to get a second job. But seriously, how many of us can actually do that. I'm a parent, I work a full-time job and my other full-time job is taking care of my child. If you've got a family, then you've got a built-in full-time job right there. There is no other time to have a second job, it's just impossible. So I think my first ideas are going to be how to make extra money with items you have in your house. I know I've got a lot of stuff that I don't use and haven't used for years. I bet I could sell that.

I know a lot of people don't want to sell items online, or don't want to take them down to secondhand shops or consignment stores. But if things are going worse, you need to know how to make extra money and have some ready cash hanging out to get you by in the hard times. So frankly, I'm thinking of liquidating a lot of stuff that I own that I don't use, is too small, I don't like, etc. Now you may be surprised at the stuff you have in your house that you could actually get money for. I suggest that you don't just give away or throw anything away until you check several places.

There is of course eBay, then there are secondhand shops that buy used clothing or consignment, there are places that buy used books, used DVDs used CDs, even the jewelry that you haven't worn in years can be bought by someone. Think of this as a great time to de-clutter your house and learn how to make some extra money. Now I really don't like having garage sales because it takes a lot of work. It's a great way to make extra money, though from what I've heard.

My neighbor has a garage sale every year without fail, and I did not realize how much extra money she made until she told me a month ago, every garage sale she makes at least $300. Three hundred dollars. I was really amazed because I've seen the stuff she has at her garage sale. She actually doesn't have very much stuff, but what she does have is not priced dirt cheap. Like candles in candleholders for instance, are at least a dollar each. A lot of garage sales I go to that would be like 25 or $.50 tops. But she prices up higher and people actually pay it. So I think that's one way to make extra money with the stuff you got your house.

If you have a garage sale, make sure you price it to turn a profit. And she also has another trick to get more people to her garage sale. She puts some really nice item out the very edge of her driveway with a big free sign. At the last garage sale she had an exercise machine out there with a big free sign on it. Now, that's right an exercise machine, and I tell you we had people doing U-turns in the street to pull up in front of her driveway to get out. They looked at the exercise machine, then they started to look at the other stuff on the tables that she actually had for sale. I didn't see anyone take that free exercise machine, but I saw everybody buy something. I don't know if she did this on purpose or this was just a happy coincidence. But that big free sign sure worked. She made a lot of extra money with that garage sale.

So take a look around your house, start doing it room by room. Don't get overwhelmed, but start with your bedroom, look through all your drawers in the closet. All the shelves in the boxes. Everything. The clothes that are too small, you don't like are out of fashion, put them in a box, shoes you don't like they might hurt you haven't worn them in months, put them in a box. Shoes that you feel guilty you should have worn because you got them as a gift. Put them in the box. If you don't like it you don't wear it, get rid of it you could make some money.

Now, once you've gone through everything you have to figure out how you can make extra money with it. Are they in good condition. And if it's clothing item, then I would take it to a consignment shop. If you can't find a consignment shop where you live, or they didn't take the item, then I would try eBay. If eBay doesn't work, then I would try craigslist.org. Craigslist is a free website where you can sell many items. If you've got a box of clothes of a particular size, just say they're gently used size 10 spring and summer clothes. I'm cleaning out my closet take the whole box for 20 bucks or come over and make me an offer. And then meet in a public space. You would be surprised the amount of stuff you can get rid of on craigslist. Next time I'll cover where to get rid of book's because there are a lot more places to get rid of books than you think. Plus you'll get more money out of him than you think too.