Tips like these helped us pay off $127K in debt. You can read our story in Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After.
Welcome to 31 Debt Free Missions! This year on Queen of Free, during each day in January, we will provide 31 concrete debt free missions or challenges for you to take on to #SlayDebt and take charge of your finances this year. Each mission will take you less than an hour (some will only require 15 minutes). Whereas, 31 Ways to Kick Debt in the Teeth (which I’m reworking this year and reposting in January, too) focused on some of the philosophical changes you need to make in order to be successful with money, 31 Debt Free Missions are action steps to put into place after you have your thinking straight. Even better, during the month of January, we’re revisiting each of these challenges in order to sharpen our money saving and debt slaying skills.
Are you ready? Your mission is as follows:
Day #24: Sell Something (NOW)
It’s no mystery of the universe, friends. The basic principles of paying off debt involve reducing your spending and increasing your income. Or put another way:
Spend less money + Bring in more money = Debt Free
I know it’s less complex than you might think. After all, paying off debt isn’t complex, it’s just not easy.
Today’s debt free mission should help you with the income side of things. Today, in an hour’s time, you need to begin the process of selling off everything that you can’t. Here’s why.
Why Sell?
You know you’re serious about this debt slaying journey. You need a little physical action to back it up. You can’t keep living the way you’ve been living. You need a reboot and a fresh start. Selling off a few items will be the kick start you need as well as a symbolic gesture that life is going to be different. Plus, you could make some cash. Bonus.
Where to Sell
I know what you’re thinking. No one’s going to want your crap. You just might be wrong. I’ve been shocked over the years at the number of times that one person’s trash really has been another’s treasure – and they’re willing to pay top dollar for it. I’ve seen a lot of folks have success with selling items on Facebook to people within their own social media networks. You can choose to post photos to your personal wall with prices (be sure you get clear shots, with no background junk, and accurately show dimensions) or you could use the Facebook Marketplace. There are also typically “Garage Sale” groups you can search for in your geographic location. You can also turn to Craigslist. Again, use clear photos, be specific about the price and tweak the settings for your privacy preferences. Soon it will be Yard Sale season. See if your neighborhood is having a cluster sale or set up your own independent venture. We also went to the local Pawn Store to sell a few items while we were paying off debt. Lastly, you might consider looking for broken or unused jewelry to take to a Jeweler or one of the Cash for Gold shops.
What to Sell
For starters, extra homes, vehicles, campers, and time shares. If you don’t have any of those larger investments to sell off, everything else should be on the table but the best highest ticket items are going to be electronics, exercise equipment, furniture, baby gear, large toys, and appliances. In the pursuit of eliminating your debt, look around your house with new eyes, seeking out underused or unnecessary items. DO NOT sell anything with a specific sentimental value to you. i.e. Grandma’s pearls or your Great Grandad’s war memorabilia. You’ll regret it. But more than likely you have more than you need. Be careful not to undersell or overprice your items. If you can, see what similar items are going for on Craigslist or Facebook and then cut the price to just under the cheapest item. This was my most effective way to get to sell books as a part of our debt slaying journey. I was a Half.com fiend, selling any book I didn’t think we would either read again or lend to someone. There’s no listing fee and I saved on packing materials by using old boxes and packaging we had to receive to send items out in the mail. Parting with collectibles (anyone have one of those pricey Beanie Babies) or baseball card collections might need to be a part of your effort. Old phones or tablets (or even new ones), anything goes when you’re trying to Slay the Debt Dragon.
Did you see the previous Debt Free Missions? Knock them all out this month!
- 31 Debt Free Missions: Take the Restaurant Challenge
- 31 Debt Free Missions: Run Your Credit Report
- 31 Debt Free Missions: Set Up a Tax Box
- 31 Debt Free Missions: 5 Memberships to Ditch
- 31 Debt Free Missions: Adjust Your Withholdings
- 31 Debt Free Missions: Quit Using Credit Cards
- 31 Debt Free Missions: Go to the Library
- 31 Debt Free Missions: Eliminate Cable
- 31 Debt Free Missions: Pantry Prep
- 31 Debt Free Missions: 3 Phone Calls to Pay Off Debt
- 31 Debt Free Missions: The Bank Field Trip
- 31 Debt Free Missions: Make Your Own Laundry Detergent
- 31 Debt Free Missions: Hit Unsubscribe
- 31 Debt Free Missions: Stop Money Leaks
- 31 Debt Free Missions: Maintain Your Car
- 31 Debt Free Missions: Save Money on Prescriptions
- 31 Debt Free Missions: Kill the Fees
- 31 Debt Free Missions: Change Car Insurance
- 31 Debt Free Missions: Reorganize the Game Closet
- 31 Debt Free Missions: Build your Budget
- 31 Debt Free Missions: Appliance Maintenance
- 31 Debt Free Missions: Saving Money on Gasoline
- 31 Debt Free Missions: Start 5 Savings Accounts Today
Have you had any success selling items to leverage toward paying off debt? What methods worked for you?
My book is now available: Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After. You can also check out Inspiration to Pay Off Debt: 30 Days of Encouragement from the Queen of Free
This post contains an affiliate link. That means when you get a great deal or maybe even something for free, you also help our family pay off our mortgage early. And for that, we royally thank you!
