Join the School of Drama on Aug. 19 for the Senior Yard Sale on The Hill! The drama
class is hosting a massive yard sale filled with unique treasures, from clothing and
books to home decor and more.
All proceeds will go towards supporting the School of Drama’s upcoming Senior Showcase.
Come find fantastic deals, stock your dorm room and support this talented class!
YARD SALE FLYER
Contact:Maya Mays
August 11, 2023
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When I was younger, it was so much more difficult to make money as a kid than it is today. While that wasn’t so great for the kids of my generation, it is making life a lot easier for my own children.
My parents did a pretty good job of teaching my brothers and me financial responsibility. But, I learned as an adult that there were actually quite a few gaps in my financial knowledge base. As parents, we can only teach what we know. So, if there is something I don’t know about finances and money, I am much more tenacious in my education now.
I want my children to be more financially savvy than I was at their age. A big part of this education has been teaching them how to make some extra money, even when they’re young.
What’s Ahead:
In-person ways to make money as a kid
For younger kids, ages six and up, making money can be a little more difficult. But, most kids have a fantastic social media network to pull from. And they have their parents to back them up and help them find money-making opportunities.
Anything your child decides to do to make money should be run by you first. After all, kids can’t get to a lot of these odd jobs without their parents’ consent, or transportation.
Babysit. If your child is interested in babysitting even at the age of 10-12, then you, as the parent, can help find them babysitting gigs through your friends and neighbors. That way you are comfortable with the house your child will be left alone at. Sometimes what is needed is a mother’s or father’s helper, so your child would not even necessarily be alone.
Create a yard sale. Helping your kids go through their old clothes, shoes, and toys is a great way to help your kid make money. Have them set up a yard sale and whatever money they make they get to keep.
Have your kids work for your small business. If you are self-employed and have any tasks your children can help you with, then you can pay them to do so. The tasks can vary by age. But even younger children can help with things such as sorting and shredding mail.
Organize people’s stuff. If your 11 or 12-year-old child has an eye for organizing, then they may be able to offer this service to others. You’ll need to help them find people that will let them organize for them, with your assistance, of course.
Walk dogs. Walking dogs is something that most kids love doing, and most adults could use help with. Plus, if the two of you can do it together, then you both get some fresh air and exercise also.
Wash cars. If your child is younger, they can offer to wash the neighbor’s cars. Once they get older and can legally work with a work permit, some car washes might be willing to hire them.
Water plants. Help your child find families that are vacationing, work long hours, or are elderly and just could use a helping hand with their plants.
Yard work. Yard work is something most of us need help with regularly. If you are willing to loan out your yard equipment to your kids, then this could be a great money-making opportunity for them in your neighborhood. Not to mention, it’s just easy money.
Selling t-shirts. Designing and selling t-shirts together has never been easier than it is today. You don’t need a graphic designer and a screen printer anymore. There are plenty of websites geared towards creating your own t-shirts, marketing them, and selling them such as Shopify, Zazzle, Teespring, CafePress, and more.
Become a product flipper to their peers. One of my stepchildren has been flipping candy and shoes to his school and neighborhood peers. If your child has a good eye for a deal, then this may be a good money-making option for them.
Read more: How to make the most money from your garage sale
Online ways to make money as a kid
If your child is digitally savvy, then they may be more inclined to find ways to make money online instead. Either way, your child should ask your permission before they embark on ways to make money. Since they are minors, they need parental permission to engage in these activities.
Take online surveys. I love taking online surveys and so do my kids! These can be a lot of fun, and since the kids are on their devices more often than not, they might as well be making some money at the same time. Some of our favorite online survey sites are Swagbucks and MyPoints.
Create illustrations. If your child likes to create illustrations, then they could make some money with this skill. Get them a decent illustrating tablet and intuitive software (I suggest Clip Studio Paint Pro) and they will be on their way. A great website to have them set up a portfolio on is Deviantart.
Make crafts or jewelry to sell online. If your child loves to create jewelry and crafts, then selling them online may be a great way for them to make money as a kid. The most popular website for things of this nature currently is Etsy.
Make YouTube videos. Our kids today are technology savvy, right? YouTube is a platform where some decent money can be made if your child loves to create videos. Kids can be product testers and make videos of them testing out products from different companies. Even if your kid just wants to make videos talking about particular subjects (video games, how-to-videos, etc.), they can place ads in their videos to start generating income. As a parent, however, you should be monitoring this money-making avenue closely.
Sell their old stuff online. There are many different platforms for your kids to sell their old stuff online. Some of our favorites are eBay, Facebook Marketplace, Craigslist, Poshmark, and Amazon.
Start a blog. If your child loves to write, starting a blog at a young age could potentially help your kids get to the point of monetization by the time they could really use it. Writing a blog can be a lot of fun, but it can take a while to start making money with a blog. So this could be more of a longer-term goal that kids can grow into over the years.
Start taking photographs. Taking photographs can be a great way to put your child’s hobby to good use. Some of the best sites that might be willing to pay them for their photographs are EyeEm, Foap, and Scoopshot.
Streaming. If your child is already big into watching streamed live content, then it may be time for them to start creating their own. Live streaming through Twitch is a great way to get them started.
Selling digital goods. Creating an ebook or a course is a great way to begin selling digital goods with very little overhead.
Making music. If your child has a musical ear, then this may just be the money-making genre for them. One of the best places to get started is Spotify.
Create games. One of my children is huge into video games and is always coming up with ways for the games to be better. If this sounds like your child, then it may be time to investigate creating their own game and monetize it (trust me, it’s a lot easier than it sounds).
App tester. Since most of our kids are very embedded in the digital world, it only makes sense for them to make some money by testing apps. There are quite a few places your child can begin doing this, but two of the best places to get started are TesterWork and UberTesters.
When can you start teaching your kids about money?
When kids are toddlers, they are extremely inquisitive and have a strong desire to learn. It is also during this timeframe that they begin to strongly mirror your behavior.
So, it makes sense to begin introducing them to the idea of money when they are in this frame of mind. Around this age, I began teaching my children about money a few different ways:
Taking them to the grocery store to look at the price tags.
Having them tell me how many fingers something costs.
Showing them the different ways you can pay for groceries (credit/debit card, cash, check, EBT card).
Buying a play cash register and plastic food to have a pretend grocery shopping trip at home.
If you start with basic lessons and pretend play like this, then building on this financial foundation is much easier as your child ages.
Benefits of teaching your kids about money
The benefits of teaching your kids about money are almost endless, especially in today’s society where most of us have more debt than income. If you can begin teaching our kids about money when they are really young, then they will grow up knowing more than you did.
The value of a dollar
One of the biggest, and easiest, lessons to teach your children about money is the value of a dollar. This lesson can begin with the grocery store example from above. A good way to do this, depending upon their age, is to tell them how much money you have budgeted for this particular grocery trip. Then, they can help you add up all of the items as you go.
When kids do this, they get to see a physical example of how much groceries really cost. Once this concept is grasped, the next step is to give them a small amount of money to spend on their own. Start with $1 or $2 to show them how far that little bit of money doesn’t actually stretch.
How to save for long-term goals
Opening up a savings account for your kids is a great way to help them begin to save money for long-term goals. When they are younger, they won’t have access to withdraw funds themselves, so you will be in charge of what they can take out.
A good way to drive this point home is to have them choose something big that they would like to save for. Depending upon their age, that can vary widely. But some items to consider may be:
Bike
Skateboard
Video games
Gaming console
Phone
Furniture
Trip
Car
College
Once you and your child have chosen their big item, then you can help them break down the total cost and how long it will take to save the money to get there. The deal is that they won’t be able to take the money out of the savings account until they have the full amount due for the item.
This can really help keep them laser-focused on the big goal and hopefully get them interested in finding other ways to make money as a kid.
What disposable income really means
As kids get older, they start to understand a bit more about bills and how much things cost. Teaching them about monthly recurring living expenses is a really good lesson to impart before they fly the coop. I know my first years as an adult were spent living hand to mouth and eating the cheapest foods I could find. This was because I had little to no money since almost everything I made went to living expenses.
Teaching your kids about what disposable income really means is exceptionally important. This message can be taught in a few different ways. But, a great way to show them is to have them go through your budget with you. This way they can see what your recurring expenses are as well as any remaining money, or disposable income.
Read more: How to make a budget: our step-by-step guide to managing your money
How much retirement might cost and how to save for it
When it comes to retirement, I suggest telling your young kids to include this number in their monthly recurring expenses budget. This way they will be sure to put something away towards retirement every single month and not let it fall by the wayside.
How much retirement costs will vary depending on where your child chooses to live and what they have planned for their retirement. The conversation will look different depending on the ages of your children as well. No matter their age, even if they are saving only a few dollars per month toward this far-off goal, they will nonetheless be developing habits that will keep them on good financial footing throughout their lives. And as they get older and begin to earn more they can begin to save more.
This will be extremely helpful to them due to the magic of compounding. If only I had known about compound interest when I was a teenager. Oh, how I would have made different financial choices!
Read more: The beginner’s guide to saving for retirement
Overall financial independence
The biggest benefit your children will get out of you teaching them about money at a young age is the ability to achieve financial independence. This is a big one! Especially because a lot of us, as parents, haven’t even achieved this.
Since we, as parents, want our children to live a better life than we did, helping them to achieve financial independence only seems natural. And one of the best ways to teach them that is to get them involved in making their own money as kids.
Read more: Financial independence in your 30s: How realistic is it?
How your kids can put their hard-earned money to work for their future
Once your kids start earning some of their own money, there are many things they can do with it. Of course, they could spend it on a lot of things they may want right now. But, it makes much more financial sense for them to put their hard-earned money to work for their future.
There are a few different ways you help them learn this lesson. Some of my favorite options (and we have done all of these) are:
Put money into a high-yield savings account.High yield savings accounts can range in the APY, but they are always higher than your typical brick-and-mortar savings account.
Open an investment account. Helping your kids open an investment account is a great way to teach them about the stock market. This is especially true while they are younger when the stakes aren’t as high with regard to them losing massive sums of money. Some very user-friendly options are Public and J. P. Morgan Self-Directed Investing, both of which offer commission-free investment options.
Put gift money into a UTMA account. When the kids are getting money gifted to them from a family member for holidays and birthdays, they should put it into a UTMA account. You can set these up as custodial accounts which will then be rolled over to them once they turn 18. These types of accounts let you help your kids choose which ETFs and/or mutual funds they want to invest in after they have deposited the money into their UTMA account.
Invest in a Roth IRA with their earned income.One of my favorite retirement savings strategies for kids is a Roth IRA. However, your kids must have earned income in order to contribute to one. These types of accounts can be opened as custodial accounts, just like the UTMA accounts. You will deposit your kids’ earned income into the account and then they, or you both, can choose what they would like to invest in. This has become one of our favorite financial games around our house since our kids like to see whose investment choices are performing the best. Some great options for Roth IRAs are Fidelity, Vanguard, and Charles Schwab. Not all investment firms offer custodial Roth IRA’s, so your choices here may be a bit more limited than opening a Roth IRA account for yourself.
Read more: Roth IRAs for young adults: why starting early pays off
Disclosure – INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
The bottom line
Teaching your kids about finances and how to make money are extremely important lessons. Embrace the challenge with your young children as they become budding adults!
While you may not know everything about personal finance, learning new things together might just teach you both something valuable. And if your kids can learn to make extra cash now, when they are still children, then they will ultimately be much more diverse and adaptable in terms of managing everything financial later on. Plus, they’ll get a little pocket money so they don’t have to keep asking you for $20 every time they want to go to Starbucks.
That’s a win-win in my book!
Read more:
Disclosure – INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
I’ve already told you how the wife and I weed out our closets every summer and have a yard sale with the results. Last weekend, we did some big off-season pruning because — in a little more than a month — we’re moving to a smaller house (though it’s way cooler, closer to work, and in a better school district). Consequently, we have to get rid of a good bit of furniture.
Here’s the evolution of my furniture-buying history:
Stage of Life
Type of Furniture
College student
Dorm fare, boxes
Single college grad
Goodwill castoffs, sturdier boxes
Newlywed
Wedding gifts, furniture relatives no longer use
Up-and-coming professional
Begin to buy “nice” furniture because we’ll keep it forever
Family man moving to a different house
Sell “nice” furniture on Craigslist
Okay, so we have bought furniture that we’re likely keep for a very, very long time. But we’re also selling items that we thought we’d keep for much longer than we did — and getting a fraction of the price we paid. One example: I always wanted a roll-top desk, but I thought I didn’t deserve one until I became a real writer. So when I wrote my first book for The Motley Fool, I rewarded myself by using part of the money I earned to buy a swell-looking cherry roll-top desk, designed specifically to be used with computers. And I loved it…for a while.
But then I outgrew it. I don’t know why exactly, except that I now prefer to sit in a comfy chair with a laptop in my (guess!) lap rather than sitting at a desk — perhaps because I sit at a desk all day at work. I don’t want to come home and do it for another few hours. And the desk also takes up a lot of space, which we don’t want to devote to a desk in our new home.
So here’s my new thinking about furniture: Like clothes, furniture can wear out its style and usefulness. Our tastes in homes and the accompanying contents change; it just doesn’t make sense to pay up for something we may no longer want or have space for a few years later.
The flip side is that cheaper furniture may not last even a few years. That’s been our experience with the dressers we bought from Target and IKEA. So, for now, I think our best strategy is to buy high-quality stuff used. Or go back to eating off sturdy boxes.
Adventures on Craigslist
Obviously, other people agree, because within 48 hours of our listing seven items on Craigslist, we’ve sold three (including the roll-top desk). I assure you, they’re getting good deals. And we’re raising cash to buy furniture more appropriate for our new place — off Craigslist, of course.
That said, I’ve been the target of two attempted scams and possibly a third. Here’s how one went down: I received identical emails from “Mr J Benson” at [email protected], regarding two of the items we were selling. He asked if they were still available. I replied that they were, and again received two identical emails, as follows:
Thanks for the prompt response. I have instructed my account officer to mail (overnight) a certified check, while you hold this item for me. Let me know when you receive the check and I will have my mover will come pick up at your place. Please forward me the following info so I can issue your check . . .
1.Your full name 2.Your mailing address(Physical as Ups does not deliver to P.O.Box} 3.Your phone number.
** Please note that I will overnight the payment,and you should receive it tomorrow. I appreciate you holding this for me. Please delete the posting as I am definitely buying it from you and it would be sad for me to have the payment in the mail only to be informed of the its sale also am deaf and will like to be contacted via email.*
This immediately smelled stinky to me, and a quick Google search showed that plenty of other people have received this identical offer. From what I can tell, here’s how the scam works: The check that gets delivered is for more than the item being sold. The “buyer” instructs the seller to deposit the check anyhow, and just wire back the difference.
Perhaps you can guess how this ends. If not, here’s how it ended for a woman in Hawaii, according to a news story:
The buyer agreed to purchase the furniture for $230. She said she would send a check for $2,452 and asked the seller to deposit the check in the bank, deduct $230 and then send back the balance via Western Union. She said she would send a male friend to Western Union to pick up the check because she couldn’t leave the house. The seller agreed with the arrangement. After sending a check for the balance through Western Union, she learned that the original check was bogus.
The second scam attempt was similar — a woman saying she wanted to buy our couch as a Christmas gift for her father-in-law, and she’d send a check. I replied that I only deal in cash, and face-to-face. Her reply: “Cash on exchange is my preffered means of payment but i dont have the time .I believe you know how hard it is to get a job these days.Pls bear with me.” I don’t think we’ll be selling this person our couch.
The third interaction may be a scam or not. I’m selling my PlayStation 2 (including a bunch of games), and here’s the email I received:
I wanted to ask if you could help my son he really want a system but i lost my job last month and i couldn’t do thanksgiving good and he was sad and now he thinks christmas is going to be the same but i dont have money i was hoping i could work something out with you to help him im a good handyman i just dont like seeing him like this can you help and put a little smile on him for christmas if you can thank you and god bless if not that ok i just wanna to try to make it better for him
The only possible scam here is that he wants a free PlayStation when he could afford to pay the $90 I’m asking for it. Or maybe his story is legit. If it is, I’d be willing to help him out. Not sure what to do about this one. What do you think?
To sum up…What have I learned over the weekend?
You may not keep furniture as long as you think, so it may not be worthwhile to pay a lot or buy it new.
Accept only cash. Experienced sellers tell me that transacting through PayPal has worked for them, though I don’t have any personal experience on the seller side with it.
There are a lot of people on Craigslist who should be shopping for books or software that will improve their spelling and grammar.
If you want to get rid of stuff, Craigslist works — but you have to be careful of scambags. Though I’ve never sold anything on other sites — such as eBay or Amazon — they might work as well. If you’ve used them, let us know about your experience in the comments are below.
J.D.’s note: I’m a huge Craigslist fan, but you absolutely have to watch out for scambags, as Robert calls them. In my younger naive days, I’d let “buyers” talk me into all sorts of things. For example, I traded my Nintendo Gamecube for an obsolete digital camera instead of getting cash. And I also let somebody trade me a computer that ended up being on death’s door. I’ve learned that as the seller, you can’t put up with any monkey business.
At 10am yesterday morning, Kris and I climbed into the Mini Cooper and to head for the county fair. We’d only been driving for a few minutes when Kris pointed at a sign. “Look! An estate sale,” she said. “Let’s stop.”
Kris and I like estate sales better than garage sales because they usually feature nearly everything a person has ever owned — not just the cast-offs. Family members have generally pulled the plum pieces, but there are still plenty of treasures remaining to be found.
In this case, the treasures we purchased included:
40 canning jars for $7
a pair of pruning shears for $3
a carousel clothesline for $20
Estate sales don’t always mean that the previous owner of the Stuff has died. That’s frequently true, but sometimes they’re simply moving on to another situation. The best estate sales are those at which everything is for sale, not just “collectibles” or “antiques”. At the former, you can usually find great deals, but things can be way overpriced at the latter.
Though estate sales are similar to garage sales (and thus similar shopping tips apply), there are differences between the two. Here’s our best advice for shopping at an estate sale:
Have a list in mind. When you visit an estate sale, it helps to have a list of items you’re looking for. I used to come from estate sales with lots of Stuff I didn’t really need: books, old magazines, outdated camera gear. Now I’m more focused. I look for comic books (which I never find) and garden tools. Kris looks for canning supplies. We both have mental lists of things we need around the house, and if we can find them at a good price at an estate sale, we’ll pick them up.
Set a budget. When you decide to spend a day looking at sales, it’s important to set a budget. Take $20 or $40 or $100 cash and leave the rest at home. Don’t carry your checkbook. If you have a list or are shopping for something specific, it’s okay to take more money. But if you’re visiting estate sales just for fun, you don’t want to spend a lot on junk.
Take your time. Be thorough. It’s easy to scan a garage sale because they’re nearly all the same. But every estate sale is different. Move slowly from room to room. Check the closets and the drawers (but only those that are part of the sale). Look in corners. Dig through boxes and bins. If you’re methodical, you can often find unexpected goodies in out of the way places.
Be willing to clean. Over the course of seventy or eighty years, people can acquire a lot of Stuff. In time, some of these things become worn or dirty. These items tend to be ignored at an estate sale, or marked with low prices. (They’re also the sorts of things you can haggle on with great effectiveness.) If you’re willing to apply a little spit and polish, you can sometimes turn lumps of coal into shiny diamonds. (Well, not literally, of course.)
Remember that old is often better than new. Kris and I own a home with a large yard and large garden. We use a lot of tools to maintain our property. But I’m always frustrated by the low quality and high prices of modern garden implements. Quite frankly, they suck. I’ve learned that for a fraction of the cost, I can pick up high-quality yard tools at estate sales. Older items are frequently better made, and they certainly have more character. Yesterday, for example, I spent $3 for a fantastic pair of garden shears. These have lasted 30 years or more. I’ll bet my family ends up trying to get three bucks for them at my estate sale.
Be picky. It’s easy to convince yourself that you need some wonderful item you’ve just found, even though it’s broken or otherwise not exactly what you were looking for. While there’s merit to being flexible (see the previous tip on cleaning things), it’s generally best to wait until you find something exactly right instead of settling for something close. Being patient and being picky are all part of the game.
Haggle. Americans aren’t fond of haggling, but estate sales are an excellent (and appropriate) place to do so. The sellers are looking to purge as much of this Stuff as possible, so ask for a discount — especially if you’re spending a lot of money. If you come back at the end of a sale, your bargaining power is even greater.
And here’s one final bonus tip: If you’re going to buy a ginormous carousel clothesline at an estate sale, have a vehicle other than a Mini Cooper to haul it in.
Kris and I were lucky yesterday that the yard sale was only about two miles from our house. I drove Kris home with her canning jars and then walked back to the sale. I know I looked pretty silly walking home with a big clothesline draped over my shoulder, but that’s what I did.
One of my jobs this weekend is to get that clothesline installed in our lawn. Meanwhile, Kris has washed her 40 canning jars. Just in time, too. Last night, the neighbors brought over 40 pounds of pears that are ready to be canned today. Who says frugality can’t be fun?
The most-read piece I ever wrote for MSN Money’s Smart Spending blog was an essay called See a penny? Pick it up! It got more than 1,657,000 hits before MSN changed blog platforms. After that, the penny essay and most of the other things I’d written went to live on a farm, where they can run and play with all the other articles.
And me? Still gleaning dropped coins. I pick up road pennies with copper coatings ravaged by traffic. I fish nickels out of puddles. I’ve spied dimes glinting across parking lots. I rescue quarters from bus-stop gutters.
Occasionally I find paper money, usually one-dollar bills. This year was unusual because I found a $10 and a $20 bill along with 23 quarters, 52 dimes, 15 nickels and 288 pennies.
I can cite the particulars because I save my found money all year, in a vase that my daughter gave me when she was in third or fourth grade. She was so proud of that gift, which she found in the free box at a yard sale. I was so proud that she’d found treasure in someone else’s trash.
Which brings me to the reaction a lot of people have to my picking up pennies: Eeeewwww! That money’s DIRTY!
Well, no kidding. This year I traveled twice to Philly (where I used to live) and to Manhattan, where I reacquainted myself with this fact: No matter where you sit, stand or lean in a big city, somebody has probably urinated there.
But it’s not as though I carry these coins home in my mouth. And sorry to burst your hygienic plastic bubble, but the money you get from the bank or in change at the comic-book store is probably just as invisibly appalling as the stuff I find on the bike path.
Filthy Lucre?
Science News reported on an Australian study about bacteria found on paper money. The U.S. dollars harbored anywhere from 20 to 25,000 bacteria apiece. (Ever held a folded bill between your lips or teeth while you fished in your wallet for change? I bet you won’t do it again.)
A fungicidal agent is added to U.S. currency ink, and the metal in some of our coins has anti-microbial properties. This may be small consolation if you, like me, have ever seen people pull money from socks, shoes and bras. Or watched someone sneeze into his hand before fishing around in the take a penny, leave a penny dish.
This explains why so many cashiers have bottles of hand sanitizer at their stations. Bank employees also know that most money is unspeakably germy. They treat it all as though it came from under fresh piles of dog poo.
Helpful hint: Want to break a nail-biting habit? Go to work at a bank. When you see how dirty your hands are 8 hours of counting currency, you will never willingly touch your mouth again unless you’re wearing latex gloves spritzed with Clorox.
But folks, we’re surrounded by bugs. Doorknobs, vending machines, women’s purses, shopping carts, bus seats, yoga mats and libraries are crawling with cooties. So are our children and our pets. (Elementary schools are Petri dishes for rhinoviruses. And those of you who kiss your kitties would do well to remember that a cat’s tongue is its washcloth and also its toilet paper.)
I don’t sweat the grime on my street funds because:
I have soap and water at home and hand sanitizer in my backpack, and
I’m not picking up the coins for myself
At the end of the year I roll up my coins and deposit them, then write a check to the food bank that helped both my daughter and me when times were grim. (This year’s finds totaled $44.58 but I made the check out for $50.)
Some people don’t think it’s worth their time to stop and pick up change. Others don’t think it’s dignified to pluck coins from a vending machine coin return. I’ve even heard it said that you should leave the money for someone who really needs it.
Here’s what I think:
If it isn’t worth your time, don’t do it.
If you’re embarrassed, don’t do it.
The food bank’s constituency defines “someone who really needs it.” And according to the hunger-relief charity Feeding America, $1 provides the makings for eight meals. I keep that in mind every time I pick up a penny: Another 99 of these and eight people get to have supper.
The Bottom Line, Dime by Dime
If it’s more than a penny, so much the better. But in my experience, the one-cent piece is the one that lots of folks think isn’t worth noticing. I disagree, respectfully.
In part that’s because I’m so old that I remember penny candy. When we walked to and from school I kept a sharp eye out for stray specie. A single cent could be traded for a Squirrel Nut Zipper (the candy, not the band), a sour grape gumball, a roll of Smarties, a peppermint stick or any number of delights from our rural township’s one store. You could even get two Hershey’s Kisses for a penny. Those were the days.
More to the point, I believe in that old saw, Take care of your pennies and your dollars will take care of themselves. It’s not that I think a lone Lincoln will generally make or break the bottom line. (You must pay the rent! But I can’t pay the rent! I’m one penny short!) No, it’s that seeing dropped coins everywhere makes me wonder about our sense of what money is.
After all, it’s only a penny. Why pick it up? But pennies add up to dollars, and dollars that aren’t properly managed dissolve into tarnished coppers. One way to lose sight of the bottom line is to forget that it’s made up of small change.
Note: Sam Walton, the founder of Wal-Mart, was famous (perhaps apocryphally so) for picking up dropped coins.
Or maybe you’re one of the people for whom a few cents really will make your day, or break your heart. A common example: The supermarket shopper with five store-brand items, one of which he has to put back. Or would have to, if someone behind him in line didn’t pony up the extra 17 cents.
Best Places to Look for Coins
Under the couch cushions (duh)
In the rejected-change bin of coin-counting machines like Coinstar
Near parking meters in early springtime, as the snow melts
Under your feet at the checkout counter of just about any supermarket or drugstore
Around the self-service vacuum at car washes and gas stations
The bottom of the ball crawl at Chuck E. Cheese (or so an MSN Money reader claimed)
Beaches and playgrounds, especially if you have a metal detector
(The funniest place I ever found spare change? Under couch cushions — but the sofa in question was sitting on a street corner wearing a free sign.)
Small Expenses
I don’t pick up every coin I see. A few days ago I was getting off the bus while carrying two incredibly heavy bags. I walked right by a dime in the aisle because I couldn’t get it easily and didn’t want to hold up the line by trying.
Occasionally I’m in a hurry, or for some reason just don’t feel like stopping and reaching for a coin. Generally I tell myself, Come on, it’s for the kids — i.e., the hungry kids — and then pick up the change.
This is not my only form of charitable giving, incidentally. I give money all year long to health, social service and educational organizations. The found-coins fund is just another string in my fiddle — but why not play it for all it’s worth? That $44.58 rounded up to $50 equals 400 people not going to bed hungry.
The expression nickel-and-dime in its adjectival sense means of little importance. If you think of coins in that way, they’re easy to dismiss.
As a verb, nickel and dime means to impoverish through small expenses. Minor obligations — bus fare, cough medicine, class trips — can really bust a budget, especially if you’re a 99er or a minimum-wage worker.
Yes, earning more money is preferable to washing plastic bags. But not everyone can earn more money right now. (Hello, Detroit!) If that’s you, I propose a simple three-part plan:
Pick up any coins you find
Save them in a jar
Every time you get a dollar’s worth, exchange them at the corner store and put the singles back in the jar
Congratulations! You nickel-and-dimed your way to a teeny little emergency fund!
Each Coin has Value
Picking up coins is my personal choice. I’m not saying anyone else has to do it. I’m just putting it out there as a possibility. You should do whatever works for you. What works for me is picking up the money and giving it to a food bank. That’s just how I roll, so to speak. (J.D.’s note: I’ve docked Donna’s pay for that pun.)
Even if you decide not to do this, at least pay attention to the coins in your pocket or wallet. Viewed singly they may seem insignificant. But each one has value — and power. Just ask the underemployed or the 99ers. If you’re a buck short on bus fare the day before payday, that found-coin dollar from the glass-jar EF means you can get to work. If your unemployment check isn’t due until Friday, a palmful of coins buys five packages of on-sale ramen for a week’s worth of lunches.
Neither situation is ideal. Still, be glad that a whole lot of people couldn’t be bothered to pick up those pennies before you got there.
It’s that time of year — time to weed out all the stuff in the Brokamp household to get ready for the first yard sale of the season. It’s a great way to de-clutter, make a few hundred bucks, and sadly realize how many of the past Christmas’ presents are already collecting dust from non-use.
While culling the bookshelves, I came across Younger Next Year: A Guide to Living Like 50 Until You’re 80 and Beyond, which came out in early 2005. While I was still in my 30s when it came out, it was one of the first books that got me thinking about how I need to start taking better care of myself. After all, if I’m going to spend decades saving for retirement, I want to be healthy enough to enjoy retirement once I get there.
Unfortunately, as we age, we accumulate some aches and pains, don’t have the energy we used to, and eventually rely on Lipitor, Celebrex, or some other drug that sounds like the villain in a science-fiction movie. Well, that’s just part of getting older.
Or is it? Not according to Henry Lodge and Chris Crowley, the authors of Younger Next Year. According to them, 50% of illnesses associated with aging (e.g., heart attacks, diabetes) can be eliminated, and 70% of “normal” aging (weakness, sore joints, apathy — the stuff that makes you feel old) is not aging at all, but really decay. And it’s optional.
When the book was written, Lodge was a 46-year-old doctor and faculty member at Columbia University’s College of Physicians and Surgeons. Crowley was his 70-year-old patient, a former Wall Street lawyer who retired in 1990. Although Crowley exercised occasionally, he was 40 pounds overweight and feeling adrift when he became Lodge’s patient. Lodge explained to Crowley how Americans get good medical care (they receive treatment after something’s gone wrong) but not good health care (help with leading a lifestyle that will ward off disease and degeneration).
Younger Next Year describes that lifestyle, summarized by “Harry’s Rules.” Follow them, the authors say, and you’ll turn back your biological clock — “become functionally younger every year for the next decade.” From the book:
Harry’s Rules
Exercise six days a week for the rest of your life. Don’t think of it as exercise. Think of it as sending a constant ‘grow’ message…as telling your body to get stronger, more limber, functionally younger, in the only language your body understands. Do it because it’s the only thing that works.
Do serious aerobic exercise four days a week for the rest of your life. Hard aerobics, working up a good sweat, is our favorite exercise rhythm because [it] brings out our youngest and best biology: strong, fast, energetic, and optimistic all day long. Tell your body it’s springtime.
Do serious strength training, with weights, two days a week for the rest of your life. Generally, we aren’t aware of nerve decay as we get older, but it’s the main reason our joints wear out, our muscles get sloppy, and our ability to be physically alert and powerful begins to fade. And it is reversible with strength training.
Spend less than you make. Time to quit playing and come inside. Come inside your income. Try to do it early. As with smoking, you can recover. It takes time and earlier is better, but do it.
Quit eating crap! Never go on a diet again. The only way to lose weight is to embark on a program of steady, vigorous exercise, avoiding the worst foods (french fries, almost all fast food, processed snacks with names that end with the letter “O”), and eating less of everything.
Care. There have to be people and causes you care about. Doesn’t seem to matter much what the causes are. They don’t have to be important to society or make money, as long as they’re important to you.
Connect and commit. There is a terrible temptation, in our 60s and 70s, to close up shop and narrow our lives. In most cases, retirement already does that, and it’s tempting to just go along with the program, get narrower and narrower. Well, don’t. It’s killing us. We have to exercise our social, pack-animal gifts as vigorously as we exercise our bodies. That means adding friends, doing more stuff, getting out there, and being involved.
But this isn’t just a fitness book; it’s about getting ready for, and getting the most from, retirement. It’s written mostly for over-50 men, but anyone can benefit from the advice. (Lodge and Crowley have written a follow-up book, Younger Next Year for Women.) The authors generally alternate chapters, with the doctor providing the science behinds his seven rules, and the patient giving the real-life, rollicking, often hilarious account of what it’s like to implement them.
Here’s the theory, in a nutshell: Due to evolutionary forces, humans are programmed to be active, eat certain foods, and remain socially connected. To do otherwise is to send a signal to your body that you’re ready to give up the ghost. “Your body and brains are perfect for their natural purposes, but none of them was designed for modern life: fast food, TV, or retirement,” writes Lodge. “In a paradox that you absolutely have to understand, endless calories and lack of exercise signal your body that you’re heading into a famine that you may well not survive, and in response, your body and brain head into a low-grade form of depression.”
Follow Harry’s Rules, and you can keep growing, remain energized, and stay physically and mentally mid-life long into your twilight. “Biologically, there is no such thing as retirement, or even aging. There is only growth or decay, and your body looks to you to choose between them.”
This is one book that will not make it into the Brokamp family yard sale. However, if you’re looking for a used bunk bed, impulsively bought juicer, or men’s Superman underwear (only worn twice — my wife hates them), then stop by our yard sale in a couple of weeks.
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It is no secret that the internet is changing how money is made forever.
This has caused a boom in many businesses and people the ability to make money online, which is a huge benefit for you!
This trend will only continue as technology improves. If it feels daunting to jump onto this new bandwagon right now, don’t worry; we have some tips that can help you double your 10k in the next few weeks or years.
I am going to show you how to double your money so that you can retire early, pay off debt and invest in the stock market.
A lot of people would say this is impossible, but I’m not just showing it–I’m proving it!
We all have said it takes money to make money and while that is true. It is easy to start doubling your money with just $10K.
What if, right now, you decided to double your 10K by the end of the year? Maybe, you want to hit a major goal and make a huge change in only 8 short weeks?
Making money is not a difficult task. Too often, people become impatient and think that they can simply make money without putting in the effort. This is not true.
Cash is a tool and nothing more. Once you understand this concept, you can begin to figure out how to make more money. Additionally, it’s important to appreciate that it takes time to make money – don’t expect to become a millionaire overnight.
Here is a realistic guide to help you work towards that goal.
Be sure to decide which strategic way to double $10k quickly works best for your personality.
The 10K of your dreams seems impossible.
How can I double $10000 fast?
There is no one-size-fits-all answer to this question, as the best way to double your money will vary depending on your individual circumstances and goals. However, some general tips include developing a growth mindset around money, finding ways to make more money, and investing in yourself and your skills.
Keep in mind that $10,000 is not a lot of money to double in a short period of time.
How long does it take to double 10k?
The answer to this question is dependent on a number of factors.
The most important factor is the amount of time it takes for your investments to double.
If you are investing in stocks, you can quickly double 10K with an options contract within 2-3 days. If you are looking at other avenues, it will depend on how you choose to double your money.
Typically, people start seeing results in approximately 4 to 6 months to double 10k.
If your eyes are set on this, then make sure to write down one of the millionaire quotes for motivation.
What to do with 10k?
Now that you’ve earned an extra 10k, you may be wondering what to do with it.
You could save it, spend it, or invest it, but there are a few other things you could do as well.
Here are some ideas on how to make the most of your money and grow it even more.
How can I Double my Money?
There are many ways you can double your money in a short amount of time.
I am passionate about exploring the best ways to make money online. In this article, I will share some tips on how you can double your money relatively quickly. However, please keep in mind that these are general ideas to get you started.
Specifically How to Double 10k Quickly?
If you are serious about how to double your 10k fast, you will need to dedicate time on a regular basis to the tasks needed to reach your ambition. The key is to do it daily in order to keep the momentum of your progress going.
Earning money is a mindset.
To double 10k quickly, learn how to change your mindset about money.
Although doubling $10,000 may seem difficult, it can be done with the right approach.
If you have $10,000 and want to double it within a month or a few months, here are a few realistic strategies to help you reach your goal.
Idea #1 – Swing Trading with Stocks
Swing trading is a technique that allows investors to hold onto stocks for a period of time, typically two to four days. During this time, the trader watches for specific price patterns and buys or sells shares based on their analysis.
One former assistant principal, Teri Ijeoma, changed her life when she left her job as an educator and become an active trader.
Check out: My Personal Trade and Travel Review
This type of trading can be very profitable if done correctly, as it allows the trader to make twice their investment in a short amount of time.
The key is you must learn how to invest in stocks for beginners. This is one step many people overlook when they are focused on doubling their money. Either you will get lucky or you will have a huge loss. Take time and become educated on swing trading stocks.
Related Reading: How Fast Can You Make Money in Stocks?
Idea # 2- Cryptocurrencies
Cryptocurrency is a digital or virtual asset that uses cryptography for secure transactions. Cryptocurrencies are growing in popularity and may become a major part of society. Bitcoin, the first and most well-known cryptocurrency, has seen its value skyrocket in recent years.
Cryptocurrencies are often unstable because they are not regulated by any government or financial institution, and thus their value can change rapidly. However, the potential for reward is high, making cryptocurrency an attractive investment option. Because of this, cryptocurrency investments are often seen as riskier than traditional investments, but also have the potential for greater returns.
Before investing in cryptocurrency, do your research and be sure you understand the risks involved. There are many educational resources available to help you get started.
Idea # 3 – Flip Items for a Profit
Retail arbitrage is a practice where an individual or company purchases a popular product at a discounted price and then resells it for profit at another online retailer. This can be done on marketplaces like Craigslist, eBay, and Facebook Marketplace.
This is a great way to make some extra money on the side. You need some time and a willingness to invest, but if you find the right deals, you can make a good return on your investment.
Many people have great success by flipping items from auctions, free groups, or local goodwill store.
Check Out: Flea Market Flipping
Idea #4 –Resell Products on Amazon FBA
Amazon FBA is a service for independent entrepreneurs who want to start their own e-commerce business. They can offer products on Amazon and work with Amazon directly to fulfill orders, collect payments, and provide customer service. By doing this, they don’t have to worry about the inventory and can focus on other aspects of their business.
This is another avenue for selling your flipping treasures.
There are a few ways to make money through reselling products. You can either find products to sell on Amazon or Ebay, or you can dropship products from a supplier. If you want to find your own products to sell, you’ll need to do some research on what is selling well and what prices are competitive. If you want to dropship, you’ll need to find a supplier and create an account with them.
Idea #5 – Start a Business or Invest in a Franchise Company
Starting a business is not easy. It requires a lot of work and effort, but if you’re willing to put in the time and effort it can be very rewarding.
Starting your own business is one of the most difficult things you can do, but it’s also one of the most rewarding. There are many different businesses you can start that have low overhead costs, so it’s a great way to get started.
Think of the things you enjoy doing or any hobbies you have. Look for business opportunities that line up with your interests. Then, it makes working much easier.
Here are great ways to make money on the side:
It is possible to make more money on your business than you make more money in your current job or career.
Idea # 6 – Real Estate Portfolio
Real estate is a recession-proof business.
There will always be people who need to rent or buy dwellings in boom or bust economic times.
Real estate can be a lucrative investment, but it is not without risk. A lot of people have invested in real estate and lost money, but an investor who does their research and finds a good deal can make a lot of money.
Idea # 7 – Increase Your Income
If you’re not happy with your current income, don’t worry! You can increase it this year.
This is the year that many experts are predicting will see the biggest wage growth in years. So start planning now and you could see a significant increase in your take-home pay.
More than likely, this could be your seed money of $10k to fund the start to doubling your money and making $20k.
Related Reading: How Much Do I Make Per Year?
Idea #8 – Advertise and Gain Clients
If you are a small business owner, then this one is for you. Start advertising as a way to gain more customers.
There are a number of ways to make your services more accessible and appealing to potential clients. One way is to spend money on promotions and advertising. Advertising can be effective in reaching your goals, surpassing your double your money goal of $20,000 in revenue.
There is no doubt that advertising your services will increase the number of customers you have. The more people who know about your business, the more likely they are to use it. And as we all know, the more customers you have, the quicker you earn more money.
It’s a simple equation: More customers equals more money.
Idea # 9 – Invest in Stock Market – ETFs & Index Funds
Investing in the stock market is a process that requires careful consideration and research. Index funds have become an increasingly popular investment option for many investors. ETFs are known as Exchange Traded Funds, which are also a popular investment option.
Both index funds and ETFs provide investors with the ability to invest in a diverse range of stocks, making them ideal for any investor who is looking to diversify their portfolio.
Investing in an index fund is one of the best ways to build wealth over time.
This is probably the slowest way to make money quickly in the stock market, but it comes with less risk.
With a mutual fund, you are essentially investing in many different stocks, which means that you get to choose how much your investments grow each day. This can be a great way to ensure that your money is working for you – and growing – even when you’re not able to actively monitor it yourself.
Just to know, investing in bonds will eventually double your money, but it will take more time as the rate of return is less.
Idea #10 – Start a Mining Farm
Cryptocurrency mining is a process by which new coins are introduced into the market. In order to do this, miners use computers to solve complex mathematical problems in order to receive rewards in the form of new coins. A cryptocurrency mining farm is a way to pool together multiple computers in order to increase the chances of solving these problems and receiving rewards.
Starting a mining farm is a process of investing in cryptocurrency or blockchain technology.
Mining farms can be started with as little as $500, and they are commonly used to mine cryptocurrencies like Bitcoin, Ethereum, and ZCash. Although the process of mining cryptocurrency is not always easy, it can be lucrative for those who invest in the process.
Starting a cryptocurrency mining farm can be lucrative, but it’s important to do your research first. The farm will require a lot of power and will have a rate of return of around 18% (source).
Idea #11 – Share Cash with P2P Loans
Peer-to-peer lending is the act of lending money to borrowers through a P2P lending website. These websites act as an intermediary between lenders and borrowers, and most sites allow you to lend money to a dozen or two applicants. The interest rate you earn on your loan depends on the P2P website you register with, but it typically falls between 3% and 36%.
When considering a P2P loan, it is important to remember that you are entrusting your money to a stranger. Because of this, it is crucial to take the time to review and assess as many applicants as possible in order to find someone who you feel is most likely to pay back their loan.
P2P loans can be arranged without any collateral or credit check.
Idea #12 – Buy Initial Public Offerings
When a company decides to go public, it sells shares of its stock to the public. This is a way for the company to get more money, and it also allows people who invest in the company early on to make a lot of money if the stock prices rise.
The share price of a company can be very volatile when it first goes public. This can lead to significant growth for the company as investors buy and sell shares rapidly. However, this volatility can also lead to losses if the share price falls abruptly.
You must know the underlying stock value before looking at IPOs as a way to double your money. Many current stockholders are required to hold their stocks for a certain number of days after the IPO. Typically, the stock price falls after the hold period expires.
Idea #13 – Make Money with Airbnb
There are a number of ways to make extra money, and renting out a room at Airbnb is one of them. You can also learn how to make money from home by becoming an Airbnb host.
By doing this, you can provide a valuable service to people who are looking for a place to stay, and you can also make some extra money on the side.
Learn how to start hosting with Airbnb today.
Idea #14 – Flip Some Furniture
Flip furniture is very trendy right now. There has been a recent resurgence in popularity for antique and vintage furniture, and people are buying pieces and restoring them themselves. This can be a great way to make additional money without spending a lot of money.
There are a number of ways to quickly turn a profit by flipping furniture.
Spend some time researching the best methods and finding a niche in the market that you can exploit. With a bit of hard work, you can easily double your investment in no time.
When you are looking for furniture to flip, it is important to do your research and become familiar with the different places you can find quality pieces at a low cost. Local antique stores will often have hidden treasures, so be sure to check them out. Additionally, watch for yard sale notices in your area; people are often willing to sell high-quality furniture at a fraction of the price. Finally, estate sales can be a great place to find unique furniture pieces that you can resell for a profit.
There are many ways to sell furniture, but when you are starting out, it is best to use popular platforms like Facebook Marketplace, NextDoor, Craigslist, and others. Once you have more experience, you may want to create a website and online storefront.
This can be a fun and lucrative way to grow your money.
Idea #15 – Pay Off Debt Strategy
This idea of getting out of debt may seem backward, but this is one of the fastest ways to find extra money in your budget.
There is no doubt that paying off your debt is one of the smartest things you can do for your financial future.
Not only does it reduce the amount of interest you are paying each month, but it also frees up more money to save and invest. Additionally, by paying off high-interest debt first, you are essentially making an investment with a very high return rate.
Once your debt is paid off, you can save your first $10000 which you can now use to quickly double to $20000. This will help you achieve your financial goals faster.
Idea #16 – Online Courses & Coaching Programs
Coaching is a huge business – reaching $11 billion in 2022 (source). People are actively searching for coaching and online courses for personal development.
Coaching programs are designed to provide guidance and support for individuals in order to improve their skills, knowledge, or habits. Coaching programs can take the form of one-on-one sessions or group sessions. Some coaching programs are designed for specific topics like career development, personal growth, or relationship issues.
If you don’t want to work one-on-one as a coach, you can create an online course that can be viewed at any time.
If you have passion, you can likely find people that want coaching.
Idea #17 – Buy a Fancy Car and Uber
You could buy a new, luxury car and become an Uber driver. This would allow you to make money while driving people around in your fancy car.
If you’re looking to make some extra money, driving a luxury car for Uber could be a great way to do it. Not only will you make more per trip, but you’ll also get to drive a nicer car. Keep in mind that if you drive full-time, you could easily double your $10,000 investment.
Driving a luxury car for Uber can get you up to 50% more fares. The extra money can be great for those looking to upgrade their lifestyle or simply want to make some extra cash on the side.
If you want to buy a fancy car and use it for Uber, make sure you have the appropriate insurance. This will protect you in case anything happens while driving.
Idea #18 – Learn a New Skill
A new skill can help to increase your income by allowing you to do things that you couldn’t do before. For example, learning how to code can allow you to start a new career in tech or programming.
Additionally, many skills have the potential to double your income quickly if you are able to find a way to use them in high-demand areas.
It is always a good idea to invest in learning new skills.
There are many places where you can learn, including online and in-person courses. The key to success is jumping in with both feet and really dedicating yourself to learning the skill set. Once you have it down, new opportunities for income will be available.
Idea #19 – Work More Overtime
Working overtime is a great way to earn extra money. You can earn up to double-time pay for working more than 8 hours in a day or 40 hours in a week.
Overtime is becoming more common, so be sure to ask your employer if you can work some extra hours.
In order to make $10,000 in one month from overtime, you would need to figure out how many extra hours per work you need to work.
Idea #20 – Some Gambling?
This is the RISKIEST option of all of them. And highly not recommended as a strategic way to double $10k quickly.
Gambling is a way to risk cash in the hopes of making more cash.
While it can be thrilling and exciting, it’s important to remember that gambling is also a form of entertainment that comes with risk. If you’re able to afford it, gambling can be a way to double your money- but be aware that you could also lose everything you put in.
What is the quickest way to double your money?
How to double your money quick is simple. You need to side hustle and start a business.
Also, the stock market is a simple way to double your money with the rule of 72.
Following billionaire morning routines can be helpful in setting up solid habits for success.
How can I double my money in 24 hours?
The answer to this question is simple… Doubling the money in 24 hours is not practical or doable. You might be able to double your money in 24 hours, but it’s also possible that you could lose everything in one day.
Pay attention to scams if you think you can double your money in 24 hours.
You are better off learning how to make 10k a month.
Which investments are the safest and which are the riskiest?
First of all, it depends on your education, experience, and background.
The best way for someone to double their income is by leveraging their time with the right strategies.
Investments that are considered safe are investments that have an average return on investment of about 8-12% per year. Investing in index funds and ETFs typically have a lower risk. Investing in individual stocks is riskier, but they have an average return on investment of about 10-75% per year.
The riskiest option is the idea that you don’t understand how to double your money and you could end up losing more money.
Best Way to Invest 10K
The best way to invest 10,000 is through stocks. Investing in stocks can be risky and make you lose money, but it also has a high potential for gaining value.
As such, this topic needs to be done in more depth to understand how investments in the stock market work. For now, here are some articles to start to understand the returns of stock investing.
Learn all of the ways you can learn how to invest 10k.
You must do your research on companies, know your risk tolerance, understand the volatility of the markets, and be wary of the news.
Which Strategic Ways on How to Double my Money Quickly will you Pick?
You can choose from many classic way and options, but here are a few that we think would be the most effective.
Thankfully, there are many ways to make money online. But when it comes to making a quick buck, which approach should you take?
In this post, we have outlined the 20 popular routes to double your $10k fast. Your retirement plan relies on your investment of 10k.
However, any of these options is a time-consuming process that takes a lot of hard work and dedication. So, you cannot quit halfway through when things get tough.
This is what you want to do in order to be financially secure and take care of all your needs.
Be successful in doubling your 10k by setting a deadline to make it happen.
Then, your next goal will be how to turn 10k into 100k.
Know someone else that needs this, too? Then, please share!!
The holidays are about six months away. Why wait until the last minute to shop? Answer: You shouldn’t. And you won’t have to if you have a decently stocked gift closet. Some people I know keep their eyes open starting on Dec. 26 and are finished by mid-summer.
It’s more than just the December holidays, though. A small selection of “evergreen” gifts (non-perishable, non-trendy) means you’re prepared for any birthday, anniversary or new baby that comes along.
Building your gift closet doesn’t have to cost much. I always trot out the example of the puzzle depicting the Sistine Chapel ceiling, the perfect gift for a jigsaw-loving relative. Still shrink-wrapped when I found it on half-price day at a thrift shop, it set me back a whopping 35 cents.
If you wait until the last minute, you’re likely to spend more. On the afternoon of the baby shower, you might be tempted to stop at the first store you see and grab the item that’s closest to the door. Compare that with, say, the 89-cent newborn outfit that I bought at a post-holiday clearance sale.
(It wasn’t junk, either, but made by Carter’s. And it was cute as hell. I made the girl-noise when I saw it.)
Incidentally, it doesn’t really have to be a closet. I keep my stash in a cedar chest that I bought for $15 at a garage sale. Not only are my gifts cheap, they’re guaranteed moth-free! Here are some ways to build an evergreen gift stash without breaking the bank.
Clearance tables. Both post-holiday and everyday “last chance” sales can yield amazing finds. In late December the department stores want to get rid of unsold hat-and-scarf sets, gloves, slippers and “executive” gifts (e.g., day minders or business card holders) — and all of these can be held until next year’s Christmas or this year’s Father’s Day. Classic toys (stuffed animals, puzzles, books) can be had for a song if you’re patient enough to wait until Target or Walgreens really wants to get rid of them. (I’ve seen discounts as deep as 90%.) Remember that clearance sales happen in a lot of places: hardware stores, craft shops, drugstores, souvenir stands, supermarkets, office-supply stores.
Tip: If you see a gift set (foodies, spa items) wrapped in a Christmas-y way, break it down and repackage the elements for a January birthday or for Valentine’s Day.
Deal sites. Dealnews, Eversave, My Bargain Buddy and other money-saving sites can be dangerous if you’re a compulsive buyer. Pick your spots, though, and you might see a lovely package of fancy teas that would be perfect for your sister, or a swell set of socket wrenches that would be perfect for your other sister. You’ll spend relatively little to get them, especially if you get site credits for having referred other members.
Social commerce sites. Whether you’re buying a gift item or a discounted gift certificate you can use to buy a gift yourself, Groupon et al. can really stretch your buying dollars. Recently I saw a $20 Old Navy gift certificate for only $10, which could translate into shorts, tank tops or other items (especially if you wait for clearance sales). You could also give the certificate itself, if it has a decently distant expiration date — a massage or a spa day would be a great gift for a babysitter, housecleaner or teacher. And a middle-school-aged niece or nephew might love to get $20 worth of buying power at Old Navy.
Thrift shops. It’s amazing what you can find in the secondhand store — and as noted above, some of it has never been opened. Extra frugal points if your finds are “tag color of the day” specials or found during half-off sales.
Note: GRS readers discussed at great length whether it’s okay to give thrift-store gifts. If this really makes you uncomfortable, don’t do it. But here’s my advice: Get over yourself. Nobody has to know where you bought the present unless you choose to tell them.
Yard sales. We’re heading into the prime garage-sale season. I’ve found beautiful books, stationery and card sets, candles, book-and-toy combos, journals and other items — all new or seemingly unused — that became birthday or Christmas gifts. None of them cost more than $1.
Tip: Toward the end of the day, go back to the yard sale — they might be ready to haggle.
Rummage sales. The ones held indoors are even better than garage sales, because you’re not sweating in 95-degree heat while you shop.
Social media giveaways/contests. Companies will do anything to get noticed — including hand out free clothes, books, sporting equipment, jewelry, TVs, computers or big bundles of cash. (Believe it or not, I once saw a contest whose prize was a year’s worth of health insurance.) To find such contests, try using Twitter hash-tag searches (“#giveaway” or “#freebie”) or checking a Facebook app called “Wildfire.” Or do it the easy way: Find yourself a good freebie blogger and watch for the giveaways you really want.
Tip: Free software such as Roboform will fill in contact info automatically, making your entries more efficient. Also: Google “second-chance drawing” — contest junkies, aka “sweepers,” know that the odds are much better than in the initial drawing.
Take online surveys. You have to be choosy, since some companies ask for a lot and give back relatively little. But some people make a decent little side income answering questions. Depending on the site, you can redeem points for physical prizes, gift cards or even cash. I’ve had a lot of luck with Clear Voice Surveys and Valued Opinions, through which I’ve obtained dozens of Amazon gift cards in the past few years. (These days I don’t keep them, though; I give them away on my website.)
Rewards programs. Got a credit card that gives points? Cash some in for gift cards you can use to shop or that you can give outright. Or join a rewards program like Swagbucks or MyPoints, which let you earn gift cards, prepaid debit cards and other items. I’m particularly fond of Swagbucks, myself; right now I’m squirreling away Amazon gift cards until Black Friday. I’ve also given Christmas gifts obtained through My Coke Rewards: magazine subscriptions, a NASCAR hat, a set of barbecue tools, T-shirts, movie tickets.
Tip: Ask family or friends to save My Coke Reward points for you. Check the recycle bins at work, or outside your apartment house, too.
Gift swaps. Got a gift you don’t want? So do a lot of people. Invite family and friends to bring over items, then trade to your hearts’ content. Try not to be sad, though, if someone brings a package of teas or socket-wrench set that look awfully familiar.
Automated teller machines are from the devil, and debit cards are Satan’s imps.
Sure, it’s great to be able to get cash whenever you want. The problem is, well, you can get cash whenever you want. Not only do you get hooked on instant access, you may not use the money wisely once it’s in your hand.
Notice how $20 bills have become the coin of the realm, as it were? (I’ve even seen little kids use them to pay for candy bars, which is just scary.) Once that $20 is broken, what are the chances that you’ll take pains not to waste the rest?
In the past year I’ve heard the same issue from a number of financial coaches and budgeting experts: Too many clients withdraw $20, $40, $60 or more but can’t really account for how it was spent.
To make matters worse, banks are hiking their ATM fees, to as high as $5 for a non-customer transaction — and on the other end, too, as your own bank penalizes you for going out of network. Imagine paying $6 or more for the privilege of withdrawing $20. (Dude, make it $200 because I have a genuine Rolex I’d love to sell you at way below retail, today only.)
These five suggestions will help you resist the siren call of “Easy money! Just enter your PIN!”
Be Your Own Cash Machine
This is a two-part process. On payday, withdraw — from your own bank’s ATM — as much as you think you’ll need until next payday. To find that magic number, simply consult your budget. If you don’t have a budget, make one; Gail Vaz-Oxlade’s article on GRS is a good way to start.
Tip: If the B-word sounds punitive to you, then call it a “spending plan.” Call it Billy Bob if you want. Just make one.
Naturally there will come the week when you pay for a child’s field trip, hit a Saturday yard sale, or break down and buy snacks at the movies. You’re out of cash by Tuesday and you don’t get paid until Friday. Time for the other half of the equation: The coffee-can ATM, aka the cash cache.
Figure out an amount you’re comfortable having around the house. (I shoot for $200, but the amount waxes and wanes.) Next, figure out a really superb hiding place. Remember that burglars will almost always empty out desk and dresser drawers, and one of the first places they’ll look is under the mattress.
Tip Don’t make the hiding place so clever that even you can’t find it.
Suppose you haven’t built your at-home ATM, or suppose you’re far from home when you become cash-poor. Discipline yourself to use only an in-network machine:
Make a mental map of ATMs in your region. It wouldn’t hurt to keep locations written on a 3-by-5 card in your wallet or the glove compartment.
Get one of those free phone apps that will locate the closest no-fee machine.
Call the customer service number on the card and see if you can get a human being to help you.
However: Before you seek budgetary backup, determine if it’s really necessary. School yourself to think about withdrawals in a logical, methodical way, i.e., to avoid them whenever possible. Which leads us to…
Ask Yourself Exactly What You’ll be Using It for
“I just want some extra cash for the rummage sale/street fair/strip club” is not the correct answer.
How much can you afford to spend in any of those places? Will you be withdrawing this cash from the “household” or “entertainment” portion of your budget, or will you conveniently forget the extra drain on your funds?
If you can’t account for it, don’t take it out.
Hint: A $5 funnel cake at the street fair is a want, not a need. If you decide to buy one, make sure it’s deducted from your “fun money” budget later. Because let’s face it: Funnel cakes really are fun.
Too late! I already took it out! Then put it back, you numbskull. Seriously. If you don’t actually need it, or if you only need $20 but took out $40, put some or all of the cash in an envelope and re-deposit it. Problem solved.
“But what if I need that extra money later?” you wail.
You probably won’t. But you’ll probably want it. There’s a difference.
You can always go back later if you truly do need extra money.
If you’re reluctant to put the money back, take a deposit envelope with you when you leave the ATM. Each time you buy something, put the receipt in the envelope and write down how much you spent on the outside. Add it up as you go. Perhaps by the sixth purchase of the day you’ll look at the envelope and think, “Dang, I’ve already spent $57 in three hours! Maybe I don’t really need this bookcase/necklace/table dance.”
Back at home, spread out the receipts and see just how that $40 or $60 got pissed frittered away. Can you live with this level of unconscious spending? Can you find other ways to meet your needs?
And can you remember this the next time you’re tempted to get walking-around money from the no-armed bandit known as the ATM?
Avoid Withdrawal Creep
Stuff does happen (ask me how I know) and sometimes you really do have to come up with an extra $25 on short notice. Here’s the problem: You’ll probably have to take out $40 because most ATMs deal strictly in twenties.
You have a couple of options:
See if there’s a way to break one of those double sawbucks on something you actually need. Not the two-buck strip of beef jerky at the gas station, but rather the free-after-rebate toothbrush at the drugstore. Re-deposit as much of that twenty as you can.
Or fold up the extra dough and put it in your shoe, to be taken out at home and added to your cash cache. If you have any class at all, you’ll be too embarrassed to take money out of your Keds at the rummage sale, street fair or strip club.
Your other option is to…
Use an ATM Alternative
If there’s something you need (not want), buy it at the drugstore or supermarket and ask for cash back. Ideally this item would be small enough to stick in a purse or coat pocket — dental floss, say, or a three-pack of condoms. (Either one can save you from a world of hurt later on. Consider them investments.)
The beauty part is that you can probably get cash back in non-$20 increments — $5 or $15 vs. $20, $35 or $50 instead of $60. (Hit the “other” key when it asks you how much you want.) Another advantage is that you won’t feel as vulnerable as you might if you were standing at an ATM after-hours.
Note: Do not use this as an end run around your entertainment budget. Stopping at Safeway for a loaf of bread and some tomato soup and then tacking on an extra $10 for movie popcorn is sneaky. It’s not dumb, though.
You want to know what is dumb? Using one of those anonymous ATMs outside a convenience store at 3 a.m. Want to be robbed without the possibility of physical danger? Using a Brand X money machine increases your chances of being cleaned out. Not only will you pay those fees, you’re more likely to be victimized by a “skimmer” device. An independent machine can be fitted with a skimmer before being set up; crooks have even been known to put up bogus ATMs for a short time, then harvest the data.
The ATM outside a bank is under video surveillance and less likely to be tampered with — but there are no guarantees. In fact, this article from The Consumerist details how crooks put a skimmer in a bank-lock door (which grabbed the data) and a camera over the bank’s ATM (to grab the PINs).
Your best bet: Not using an ATM at all. (See all previous tips.)
Banks are businesses, and businesses are all about profit. Thus you shouldn’t be surprised that they’re out to make a buck. Just don’t let it be your buck.
For someone who hates accumulating yard sales every Saturday morning. It was an apartment-lined street, and tenants in the process of moving out would often dump their stuff on the sidewalk and sell it.
But before assuming I can set up camp on the busy street in front of my apartment, I should check on a couple of things. First, is this permitted? I mean, even aside from acquiring a yard sale permit, which you should definitely look into, are you allowed to just sell stuff on the sidewalk? One Yahoo! writer had some simple, but good, advice:
“If you have noticed people selling things on a specific corner in your town or city, contact the town or city hall for advice. They will let you know where you can have a yard sale, especially if your apartment complex will not allow it. In any case, do not attempt to publicly sell anything without a permit, even on private property.”
Secondly, even if you are permitted to have a yard sale in front of your complex, you should probably check with your apartment manager to make sure it’s okay.
Take It to the Internet
If you have a few valuable things you want to get rid of, sites like eBay, Amazon and Craigslist are great old standbys. I’ve also sold and swapped furniture via Facebook status updates — it’s easier and you don’t have to deal with crazies, flakes or Paypal fees.
If you’ve accumulated cellphones over the years,this site seems to have a cool program that gives you a modest amount for them.
Community Garage Sales
I’m jealous that Seattle has West Seattle Community Garage Sale Day. In Los Angeles, I encounter multi-family garage sales, but I can only imagine a whole day of garage sale-ing that involves an entire community!
If you’ve got friendly apartment neighbors, though, you can initiate the idea of holding a complex-wide yard sale. Again, permits and manager permission should be taken into consideration. If your neighborhood is planning an event on a particular Saturday morning, that morning might be a good time to organize the sale.
I used to live in a quadplex, and my neighbor and I once held our own combined garage sale. Thinking back on it, it would’ve been really fun to let the other quadplexes in the neighborhood know — maybe we could have made a fun,tax deduction is always nice. Just remember, tax law “requires that all household items given to charity must be in good or better condition,” according to tax pro Kay Bell.
Borrow a Yard from a Friend
I’ve been an apartment dweller for a while now, and back in Houston, my friend’s mom would always encourage me to participate in her semi-annual garage sale. Oh, how Mrs. V loved her garage sales. And she made them so much fun. There’d usually be four or five of us ridding our junk together on a Saturday morning. Lemonade or coffee was usually involved, and she lightheartedly competed with us to see who was making the most money.
If you’ve got a homeowner friend, they might not be opposed to letting you borrow their lawn for your sale. To repay them, you can offer to take care of selling any stuff they’re looking to unload.
Flea Markets/Swap Meets
Okay, I don’t have quite enough stuff to rent space at flea market, but I thought I’d toss in the option. There’s the cost of renting the space to consider, however. For example, while some SoCal markets charge as low as $7/day, others are as high as $70! Also, you may need to consider permits, registration and taxes, according to the Small Business Administration. They advise:
“Fairs, flea markets, and craft shows tend to require more paperwork and permits, since they are usually occupied by vendors or businesses, whereas garage sales tend to be run by individuals… Whenever you sign up to sell at a fair, flea market, or craft show, ask whoever is in charge of the event what paperwork or permits are needed. They can serve as a good resource since they should be familiar with the state and local procedures.”
For more information, check out the SBA’s page on the legalities of selling your stuff at flea markets. They also have some important advice on hosting yard sales — namely, checking with your city to see what the permit requirements are.
So there you have it — a few alternatives for all you apartment dwellers out there. We may not have yards, but we still have options.For my fellow renters, what other routes have you taken to sell your stuff? Any words of wisdom from seasoned yard sellers? Do share.