Millions of Americans still pay full manufacturer suggested retail price (MSRP) for clothing, electronics, furniture, and household items. Are you part of this statistic? In today’s era of OfferUp, Facebook Marketplace, LetGo, and NextDoor (just to name a few), the act of paying full retail is a choice of the past! Not only do we have the option of purchasing pre-owned, but we can also resell our clothing, shoes, accessories, and even make-up!
Alongside a laundry list of side hustles, I realized I had a lot of extra “things” that I didn’t need or use. I stumbled across Poshmark and began to post my gently used (sometimes never used, tags attached) clothes, purses, and shoes. I also posted skincare items & perfumes that were collecting dust. In the first month of using the app, I made $250! I was able to sell my unwanted items and shop the re-commerce apps to purchase my first pair of premium yoga pants. I wanted to reward myself after completing my yoga certification, and I was able to get 2 pairs with money left over!
After receiving constant compliments on my high-fashion-deeply-discounted yoga pants, I was drawn back to the re-commerce sites. Even as our discretionary income increased, I still preferred shopping the gently or never-used items before browsing brand-new. I reprogrammed myself (and my husband) to shop on re-commerce apps like Facebook Marketplace & OfferUp first, before heading to Amazon or the local mall.
Over the last year, we saved $2,518 by purchasing pre-owned! We sold a couch and dining room table profiting $360. When shopping these apps/sites, I suggest purchasing from smoke-free and pet-free homes to assure you are getting clean and gently-used products. There may be a bit of compromise on convenience, you may have to coordinate with another individual for delivery/pick up. Be smart and safe. Follow your instincts and consider traveling with a friend when visiting unfamiliar places.
Another benefit of reselling is to tidy up your life! Have you heard of the KonMari method? This is a system of simplifying and organizing your home by getting rid of physical items that do not bring joy into your life. It was created by organizing consultant Marie Kondo and described in detail in her best-selling book “The Life-Changing Magic of Tidying Up” Take a moment after reading this blog, pick something from the very back of your closet or from underneath your bed, hold the item and ask yourself, “does the item bring me joy?” If the item does not truly bring you joy and you are only holding onto it “just in case” or because you might like it again one day, then its time to let it go! This method helps me clear clutter, create stress-free space and I feel more relaxed and productive. Imagine that!
Financial Independence: Economic equity is possible!
As America attempts to overcome the pandemic, July ushers in more than just the summer heat. More and more Americans, especially Black Americans, are choosing to leave the workplace behind. Although misleading narratives about financial independence are looming, we are committed to empowering financial literacy across our communities.
Tis' the Season to yearn for normalcy, said every single soul living through the pandemic.For the second year, the holiday season is being ushered in along with the concerning undertones of a still lingering global pandemic. While many families insist on celebrating the holiday's arrival as expected, there are indeed new challenges ahead.Tis' the Season to yearn for normalcy, said every single soul living through the pandemic.For the second year, the holiday season is being ushered in along with the concerning undertones of a still lingering global pandemic. While many families insist on celebrating the holiday's arrival as expected, there are indeed new challenges ahead.
Life Insurance Has the Ability to Create Generational Wealth
One of the greatest gifts we can leave our loved ones is the absence of financial burden.Many of us have been on the receiving end of a GoFundMe campaign after the passing of someone. Whether it is an illness, violence, or natural causes – people leave this earth each day without the appropriate funds in place to cover their funeral and burial.
Financial & Investment Advisory services provided by Money Script Wealth Management, PLLC "MSWM", a registered investment adviser offering advisory services in the states of Texas, California, Nevada, New York, North Carolina, and other states where exempted. MSWM does not provide specific tax or legal advice. Please consult your tax attorney and CPA.