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Money matters: Unwanted items a great source of income

By Jill Smyth

Published 09/06/2015

Old mobile phones can be traded in for income
Old mobile phones can be traded in for income

Have you ever thought about how much you have in your home that you no longer use, wear or actually need? These items could potentially make you money. So if you're a serial hoarder or are just running out of space in your home, why not do a clear out and cash in on your unwanted items?

Be realistic - if you haven't worn or used something for years, what is the point of holding onto it?

Selling online

Selling online is a great way to offload your unwanted items, and sites like Amazon marketplace, e-Bay and Gumtree are very popular with both buyers and sellers alike.

You can list your items for a small administration fee. Make sure that you give an accurate description of what you are selling, check out the price of similar items, and remember to include the postage costs when deciding on a price for your items.

Including a good quality photo of the item should help it sell more quickly. If you have CDs, games, electronics and DVDS to sell, check out www.musicmagpie.co.uk - once they get the description of what you are selling, they can give you an instant price; and sending your items to them is free.

Car boot sales

If you prefer to sell face-to-face, car boot sales run all over the country and are a perfect way to sell your unwanted items. Keep your prices low to encourage people to buy, and be prepared for people haggling and asking for discount. Your aim is to sell everything, so be ready to drop your prices towards the end.

Recycling mobile phones

Upgrading to the latest model of your mobile phone probably means that you will be left with an old phone sitting redundantly in your drawer - in fact many of us probably have more than one old phone not being used. Many companies allow you to cash in your old phone as a deposit for your new one, so check this out first - alternatively there are lots of internet sites offering cash for phones.

Recycling clothes

Giving your wardrobe a good clear out could potentially make you money - and you never know, you might even find something that you had forgotten you had. There are companies in most towns that will buy your unwanted clothes, bedding and linen, and will pay you per kilo. All you have to do is ensure that items are clean, pack them into bags, and leave them at one of their outlets.

Buy and sell sites

Local buy and sell sites are a good way to sell things like children's toys and household items. These can be accessed on social media sites like Facebook. Listing items is free, but these sites have clear rules around what you can sell, so check these out beforehand. Always remember to include whether the items can be delivered or must be collected.

MoneySense is a free, independent programme by Ulster Bank for schools and parents covering topics including banking, borrowing, budgeting and running a small business. Find out more ways to make your cash work harder in Jill Smyth's column next week

Belfast Telegraph

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