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Make extra cash this January by selling your unwanted goods

Friday 30 January 2015, by
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Money Advice Service

Are you living on a diet of baked beans this January? Many of us will be feeling the pinch in the New Year but, if you have any unwanted Christmas presents or goods lying around, you could make some extra cash for your pocket. We’ve been chatting with the Money Advice Service and here are some of their tips.

Unwanted Christmas presents

With Christmas all wrapped up for another year, it is likely you have some unwanted presents hanging about. In fact, according to a Money Advice Service survey, 37% of us received presents last year that we didn’t want or use.

The average value of these unwanted gifts was £54 per person – a national total of £2.4bn. That’s a lot of money! But could your unloved present be someone else’s dream gift?

Unwanted Presents

Are you hoarding things you no longer want?

Money Advice Service research also shows UK online shoppers have, on average, £107 worth of unused internet purchases lying around their home, some of which could have been returned to the store.

As a nation this adds up to a whopping £5bn worth of stuff that you could be selling!

Clothes topped the list of unreturned items, with 53% of people surveyed failing to return unwanted clothes in the last year. Electrical items were not returned by 24%, and DVDs/Blu-rays were hoarded by 23%.

Sound like you? Well, selling with Gumtree is free or, of course, you could try eBay.

How to avoid issues when selling online

If you are planning to sell online, you should make sure you have a good understanding of the levels of protection the website affords you, so remember to read its terms and conditions.

If you post things, you should send your packages by recorded delivery. This will help you track their whereabouts – this is especially important if you are selling higher-value items. The Money Advice Service has more tips for selling your goods online.

Cut back on non-essentials

Where does all your money go? If this is a question you find you’re asking yourself, the Money Advice Service’s Cut-back Calculator can help you work out how much you spend on non-essentials and what you could save by cutting back.

Great advice, I’m sure you’ll agree!

Thanks,

The Gumtree Team


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