Saving With 6abc
Saving with 6abc: Making money in the New Year
January 2, 2014 (WPVI) -- When it comes time to get the holiday bills paid off and looking ahead to the year before you, it might be necessary to gather some cash. Here are a few ideas for a money boost.
1: Sell Your Stuff
The bigger it is, the easier it can be to sell on your own. There are plenty of online hubs for some of the smaller stuff:
Electronics: Try Usell.com. Charges no fees to buyers or sellers.
Books/DVDs: Try Sellercentral.amazon.com. Yes, it takes a larger cut than other sites (99 cents per product plus 15 percent of the sale price), but its heavy traffic can help you find a buyer quickly.
Gift cards: Try Cardpool.com. You can get more than 90% of the card's value.
Kids clothes: Try Thredup.com. It will pay you up to 40 percent of the resale value of the item you're selling. The site also covers the cost of shipping and sends you the mailing bag.
Wine corks; empty paper towel and toilet paper rolls: Try Etsy and eBay. Such items are favorites of amateur crafters. You could get $20 for 200 wine corks or 50 toilet paper rolls. Etsy charges a 3.5 percent cut and a 20-cent listing fee. EBay takes 10 percent.
Broken electronics: Try eBay and Craigslist. Handy buyers rewire and resell broken appliances. You could get $10 or more per item.
Your hair: Try buyandsellhair.com. You could get $200 to $500 for 10 inches or more of hair (if it's not dyed or permed).
2: Rent Your Stuff
If you have extra space (such as in your garage or an extra room) or things you don't use every day (like a lawn mower or power tools), you might be able to find someone willing to pay a bit to borrow it.
Your home: Try Airbnb.com and homeaway.com. You might be able to get up to $60 per night for a private room in a house. Be aware: You might need to charge less than Airbnb's suggested rate until you build up a base of positive reviews.
Your car: Try relayrides.com. You could make up to $1,000 a month, especially in cities and college towns. But be warned... you should check your insurance policy first. Some policies prohibit renting and might not cover you in an accident.
Anything else: Try Zilok.com, snapgoods.com and rentabilities.com. You can get $15 to $25 per day for most items. The sites deduct a 5 percent to 7 percent commission on your profits.
3: Hire Yourself Out
These days, many websites quickly match temporary workers to odd jobs. Below are some of the highest-paying positions that require little or no experience.
Baby sitter - $10 to $25 an hour - sittercity.com or care.com.
Virtual assistant - $10 to $25 per hour, depending on the task - Taskrabbit.com.
Dog walker/pet sitter - Walking: $10 to $15 an hour; sitting: $25 to $50 per day - Rover.com.
Research-study participant - $25 to $100 or more per study - Check the websites of universities near you.
AVOID THESE THINGS - THEY USUALLY DON'T WORK OUT VERY WELL
1. Pawning your stuff: You'd sell your items for less than half of what you could get for them on eBay or another auction site.
2. Emptying out your 401(k): As if jeopardizing your retirement savings weren't enough of a disincentive, you'd likely pay stiff penalties too: 10 percent plus state and U.S. taxes on contributions and earnings, depending on your age.
3. Getting a credit card cash advance: You'd get whacked with 2 percent to 5 percent fees, and interest rates of nearly 20 percent might begin to accrue immediately.
4. Signing up for a payday loan: Beware websites that promise a quick short-term cash advance. Most will burn you with interest rates upwards of 300 percent.
Information from: allyou.com
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