Archive for the ‘money’ tag
September 19th, 2014 at 9:00 am
As kids grow up, you end up with a lot of extra clothing and items you won’t use anymore, but are still in excellent shape. One way to make some money to put towards new things is by selling your gently used clothing and other items at a consignment sale. The ones I have participated in run in the fall and spring. I want to share a few tips to help prepare you for selling used items.
Most sales ask you to provide hangers for your items. They do not typically return these, so you need to collect them throughout the year. I have a tote where I store hangers from when I purchase items. If I need other types or sizes, I recruit family and friends to save them also.
I have two totes that are labeled Spring/Summer and Fall/Winter. I collect clothing each time I clean out the boys closets. As I put these items away, I make sure they are in good condition, with no stains, rips, or holes. I fold them neatly and store them until I am ready to sell. This also gives you time to make any repairs like loose buttons, frayed hems, etc.
Depending on the type of consignment sale, you can sell gently used toys, home decor, small appliances, bedding, etc. Everything should be in good working condition, clean, and show little to no wear. Make sure all pieces are kept together and are packaged efficiently if necessary.
Tagging and Pricing
Each consignment sale has different rules on how to tag and attach pricing to your items. Make sure to use enough details in your tag descriptions so that items and tags can be matched up if they are separated. A good rule for setting pricing is by determining what is approximately 25-50% of what the item originally retailed for. Be sure to get all the details on any pricing requirements or suggestions from the person who handles the sale coordination.
A Good Set of Tools
Here are a few things that help me in my preparations:
- Good Scissors
- Masking Tape
- Decent Pen
- Black Sharpie
- Batteries (Everything that runs on batteries needs fresh batteries or it won’t be accepted)
- Cleaning Wipes
- Goo Gone
- Baggies (in various sizes)
Donate What You Can’t Sell
It’s a nice gesture to donate what you don’t end up selling, and you will keep house clutter to a minimum, allowing for more storage for new items you may need.
August 4th, 2014 at 10:10 am
Wouldn’t you like to stop worrying about your finances? Making a plan and getting organized will help you understand your financial situation and lower your stress. I am constantly amazed at how many people find a budget so difficult to manage. Even people with an endless income can use a budget to manage their money and keep track of their spending and saving.
Here are some ways to get organized in the money department:
Create a budget. List all the different categories that you may spend money on. I like to get more specific but others do well with general categories. Take control of your money and assign realistic amounts to each category. Pay attention to categories that you have some control over and can use coupons or specials savings on ~ Eating out, groceries, utilities, and clothing.
Set goals for your finances. Think about what you want to accomplish over the next year, 5 years, or even more. Set up ways to save for those goals. It is great to get the kids involved in these ideas too. Also think about retirement and what you want to accomplish savings wise.
Set up a way to keep track of your finances. This may be done online, through spreadsheets or apps, or with pen and paper in a finance journal. Find what way works best for you.
Search online for ways to save and organize. There are tons of coupons and saving strategies available on the Internet. Most companies have some sort of loyalty program, app, or newsletter signup where you can be alerted when there are savings available. When making a big purchase, do research online to find the best price possible. Buying pre-owned or used items such as furniture, cars, etc. can cut prices significantly. Create a “savings strategy” and stick to it. I.e. Every week you clip the newspaper coupons, do an online search and print, and organize your coupons in a booklet or folder so it’s readily available when you shop. Set up an email account just for savings, and have all your newsletters and coupon emails in one place.
Make sure your family is on board. Make sure everyone is part of this process. If you are the only one trying to save money, the other family members will still make trips out to eat, keep the lights on in unused rooms, and plan extravagant vacations. If you are all on task, more money will appear in your savings and all your financial dreams will come true!
How do you manage your money?
October 29th, 2012 at 5:00 am
I often thinking about how to effectively teach my boys about money. In today’s world, they often see us swiping a “magic card” that pays for gas, food, treats, and experiences. They don’t realize that there is only so much money that come out of that “magic card” to pay for the things we need and want. They don’t see the mechanics of earning it, deciding how to spend it, save it, or even what amount to donate in different capacities.
Learning how to manage our money is something that is developed mostly through trial and error during experience, but as a parent it is our duty to help those trials and errors be backed by good judgement.
One of the best ways to start the trial and error is by letting them deal with money as children. What is better than an allowance that they can determine what to buy. This experience lets them see how they can save their money (to get something bigger) or spend it. Sometimes they will spend it fast and learn that they don’t have money left to spend on other things. You can also lend them money as parents, which simulated debt in the real world on a kid level.
I also like to use our allowance to help the kids learn to give. I remind them of things they may want to give some of their money to and always let them put it in jars if they ask. I talk about the things that their father and I donate to, but also explain that there are other ways to donate by volunteering and supporting events.
I am always amazed how their eyes twinkle when they are given that allowance, but become so critical about how to spend it. I hope they truly are learning about the value of a dollar.
Kim Ross also writes at A Little Bit of This and That ~ The Adventures of a Stay at Home Mom.