Hello friends! If you're looking to make some big progress on your debt free journey in 2020, I have some tips for helping you make it through BS1!
If you're already familiar with Dave Ramsey's baby steps, you know that the first step is to save an emergency fund of $1,000. This step is crucial when trying to pay off debt with the debt snowball because it serves as a buffer between emergencies and reaching your financial goals. So here are a few ways to raise $1,000 in a month.
Clean Out Your Home
We all have things sitting around our home that we never use. Specialty dinnerware, toys the kids don't play with anymore, home decor gathering dust, clothes that we've tucked away in our closets because they don't quite fit anymore...you get the idea. Cleaning out these items will not only help you declutter and organize your life, but they can go a long way to helping you save $1,000.
Host a Yard Sale
Now that you've cleaned out your home, use those items to host a yard sale. Fall is the perfect time to host a yard sale because people are eager to get out and enjoy the weather! Make sure that you advertise on Facebook, local yard sale groups, and with signs in your neighborhood/major intersections to have the best turn out. Price your items competitively. It's better to lower the price a little and sell more than to hike the prices up and scare buyers looking for a bargain. When I host a yard sale, I am always up for striking a deal! I'd rather any item go home with another person and have the cash in my savings than give that item to Goodwill after.
Sell Large Items on Facebook Marketplace
Before you host your yard sale, post larger items such as furniture and sports equipment on Facebook Marketplace. You'll likely get a higher price for them and if they don't sell, you can just stick them out with your other yard sale items.
List High-End Clothing, Shoes, and Accessories on Poshmark
Many of us on our way INTO debt found ourselves purchasing designer clothes, shoes, and purses. Instead of putting these in the yard sale pile, try listing them on a resale app. Poshmark is my favorite! I've sold used designer shoes on there for upwards of $130 and they've sold quickly! Plus, the prepaid shipping labels make it a breeze to mail.
Consider Getting a Part-Time Job
There are so many amazing companies out there that allow you to work around your schedule and pay well. My very favorite is Shipt. I've been a Shipt shopper for a little less than a year. I made more working part-time for Shipt than I made at my teaching job! Other great options are Instacart, Door Dash, Uber, and Lyft. Each company has it's own set of rules/challenges, but all are legitimate side hustles.
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