Grow Your Money: Time for spring cleaning -- and extra cash

ABS-CBN News

Posted at Apr 24 2017 07:57 AM

Are your kids bored this summer? Now could be the perfect time to get rid of all the clutter in your home. Not only will you make your kids productive, you can actually make money from your mess.

There’s good reason why you should clean up your clutter. They eat up valuable space, gather dust, or worse, may even harbor pests or termites. Sub-consciously, clutter also affects your well-being. A study by the University of California, Los Angeles found that “managing the volume of their possessions is so severe that it elevates stress hormone levels for many mothers.”

You can teach your kids to be productive this summer by enlisting their help in disposing of your clutter. Imagine how much they can make from junk: A kilo of plastic bottles (PET bottles used for soda or mineral water) can fetch P22, equivalent to text load. If there are old non-working appliances, they can look forward to more. An old electric fan can sell from P80-100 while refrigerators can go from P600-700. Depending on the amount of junk you have, you can make up to P1,000 or even more from recyclables alone.

Here are eight common items that you can dispose of, hopefully for some cash.

1. Clothes. Check out your closet to find the clothes that no longer fit, or those you haven’t worn for a long time. There are many places where you can sell these clothes. There are online sites and online garage sales where you can post photos of these. You can also take them to community garage sales, or better yet, organize one of your own. Brand new or unworn shirts with tags can be sold for P300-500, depending on the brand, while well-worn ones can still fetch around P100-P200.

 2. Shoes. It’s a good idea to sell shoes that you don’t wear, not only because these take up space, but also because over time, shoes that are stored tend to get brittle. Leather may peel off, the heels may come off, or the whole shoe can just disintegrate once worn. Online sites as well as garage sales are good places to dispose of these shoes.

 3. Bags. Just like shoes, bags aren’t meant to last forever. If you store them, you may find that they have lost their shape, or that the leather has peeled off, or that the color has faded. You may also wish to check out the old school bags of your children, which may simply be in storage. You can find buyers for these online, as well as in stores selling second hand items. You can even fetch a pretty price for old designer bags that you may no longer want or need. Branded designer bags that cost around $1,000 when bought brand new can fetch from P10,00-P15,000 second hand.

4. Fragrances. Perfumes, colognes, and fragrances are actually perishable items. After a few years, these fragrances begin to lose or change their smell and may even begin to discolor. If you have an unopened bottle of perfume, or a bottle that you have hardly used, then go scout for buyers for these. Sell these for a fraction of how much they currently sell in department stores.

 5. Books. Find old text books and sell these to students who would rather buy second hand books than new ones. Free up some space in your home and haul off these old books to book resellers who would be all too happy to buy them from you.

 6. Gadgets and appliances. Check out your home for all the devices that you do not have much use of, or which you have replaced with newer models. This can be your smartphone, coffee maker, blender, mixer, or hairdryer. Used smartphones can fetch from P1,500 to P8,000, depending on the model. A second hand coffee maker can fetch from P300-400. Resell these items online or to someone who will be able to have better use of these.

7. Boxes, papers, and old packaging. Gather your boxes and sell them to the junk shop or the dyaryo bote guy. Boxes are usually sold by weight. Also gather old newspapers and magazines, as well as reports or documents from long ago that no longer have any purpose. Newsprint and book paper are both bought by recyclers, with newspapers going at around P1,59 per kilo or P12 per stack at most junk shops, magazines at P3 per ,stack and cardboard at P1 per kilo. Not bad for being able to clean out your house.

8. Sports equipment. Sports equipment have a huge second-hand market that you may wish to tap for your old equipment. Empty your cabinets of old golf drivers and clubs tennis and badminton rackets, baseball bats, bikes, weights, all sorts of balls, etc. Equally popular are sports clothes – from wet suits to golfing gloves to helmets to exercise outfits. You’ll find takers for your stuff online.

Spring cleaning is not only a good annual practice because it de-clutters and brings order to your house, it can also be a good source of cash for things that you no longer want or need but may find a place in another person’s home.

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Grow Your Money is an editorial partnership between News.abs-cbn.com and Citi Philippines to promote financial education and provide helpful information to Filipinos on how to better manage their personal finances.

Visit www.citibank.com.ph for more information.