Budgeting Tip: Holding a Garage Sale

Garage sales are one way of earning money for stuff you don't need. As the saying goes, a person's trash is another person's treasure. The beauty behind garage sales is that the items you sell will continue to be of use to someone else. Because the items are sold at affordable prices, they can be something of interest for your neighbors or other buyers. Although you may think it's pretty easy to start a garage sale, it really requires a bit of thought and effort. Successful garage sales take into account different factors, like the ideal date and place for the sale. Here are some tips you may find useful in planning your garage sale: 1.  Schedule your garage sale wisely. The best date for a garage sale is when there is a generally good weather and the time when most people have their paycheques fresh. So, the first Saturday of the month is your good bet, since people still have money after their monthly paycheque. Weekends are also highly recommended, if not a must, so more people will have time to check your sale. 2.  If possible, make your garage sale a one-day sale. This gives people the idea that they don't have all the time in the world to decide whether they really want something and tell themselves to get back to the item later or tomorrow. This is the reason why most garage sales are one-day sale. 3.  Do not sell damaged and broken items. The idea of a garage sale is to sell something you don't use but can still serve its purpose to someone else. Selling items that are in a pretty bad shape will shoo away potential buyers and make them think the rest of your items are of poor quality. Make sure your items look their best at their current states. 4.  Prepare an easy shopping experience for your buyers with simple and easy to read signs and a stack of coins ready for change.  If you sell clothes and other body accessories, prepare a full length mirror so the people can check themselves wearing the items they wish to buy. Make sure you have an extension cord on standby in case you sell electronic devices and lamps so they can be tested out and verified to be in good working condition. 5. Keep wrappers and bags ready for easy and fast packaging. Offer the option of both paper and plastic bags to package items. You may also want to recycle old magazine pages for wrapping fragile items.

Garage sales are a fun experience guaranteed to teach you a thing or two about business and finance. More than that, it’s a great way to earn a little extra money from things you don’t even use anymore.