Practical Financial Tip #2: Sell What You Don’t Use
Welcome to Practical Financial Tips! Here I will be discussing some everyday financial tips and strategies that have increased my cashflow and personally worked for me. My disclaimer is that these recommendations are not the one and only way and might not work for everyone. Consider, modify, and find financial solutions that work better for you!
Take Advantage of Facebook Marketplace
About a year ago, I posted a few items on Craigslist to see if I could get rid of a few items in my house that I was no longer using. I snapped a few items on my iPhone and put up a few listings. I received an inquiry for someone who appeared to be anonymous interested in buying my Apple TV. We met in quite a shady parking lot in a McDonalds, and though I didn’t ever feel scared or threatened (cuz I lift and lived in Queens bah), it made me question the safety of others making similar transactions.
That is when I stumbled upon Facebook Marketplace, an ingenious feature on Facebook. What attracted me to this app was the ability to communicate with others who have Facebook profiles. Though there were some bogus profiles, I was able to perform somewhat of a background check with the ones who were legit by scoping out their location, work place, and mutual friends. These things in itself made me feel a lot more confident in creating a safe way to generate another source of income while freeing myself from the excess.
Up to date, I have made a total of $850 in sales.. of mainly older camera and computer equipment that I was no longer using. I was able to bless people with generous discounts especially after contacting them via Facebook Messenger and meeting with them in person. Having this confidence in the consumer made me want to help them more as I could see their need of these items more than my own.
The process was simple. What I did was go around to every room of my house and take photos of things that I no longer needed but thought would bring of some value to another. From there, I went on my iPhone app and hit the icon on the bottom center that looks like a mini market.. The user experience was super easy as I listed what I was selling (they split it into 3 categories of For Sale, Vehicles, Housing or Rent / Sale), then selected For Sale which immediately took me into my Camera Roll. From there, I could select my item, give it a title, description, set a price and location.. That’s it!
• Sold 8 items on Facebook Marketplace
• Experience felt legit and safe (though you need to watch out for fake profiles)
• $850 in sales to date
What do you think about this financial tip? Do you think it’s something that would work for you or do you have some better ideas? Please leave your comments below!
How have your finances been working for you? Have you been struggling to pay down a debt or looking for new ways of making the best use of your cashflow to build a stream of passive income? Monthly saving what might seem like small increments of money can make a dramatic difference!