Creative Ways To Find Money In Your Closet

How to turn your unwanted articles into cash

For Sale: Wedding Dress Worn Once by Mistake. Did I get your attention? This is an ad I saw years ago in a small town paper and I have never forgotten it since. It is such an excellent example of a creative way to get rid of an unwanted item while making some money at the same time.

Everyone is talking now about finding ways to make extra money and avoid over spending. But did you know that there is money hiding in your closet and drawers? It’s fun to find money in your closet. Here are some ideas as to how you, too, can discover the extra cash hidden in your wardrobe, drawers, and even in your shoeboxes.

First, and for my clients this suggestion comes as no surprise, go through your closets and drawers and pull out what you never wear, what does not fit, or in the case of shoes, the ones that hurt your feet.

The items that are new or barely worn can be brought to a consignment shop. Clothes that are in good condition and not outdated are always excellent candidates for consignment shops. In today’s tough retail world, consignments stores are the star performers. Their sales are up and their inventory is usually quite diverse and full. The better the consignment store does, the more likely your items will sell quickly and for a higher price.

Consignment stores take your clothes in for a specific amount of time, and give you 40% to 50% of how much they are sold for. Be sure to pick up whatever does not sell, and along with the clothes that are not sales worthy, donate these items to the Salvation Army, Goodwill or your local community center. Remember to get a receipt for tax-deduction purposes.

If you are computer savvy, you can sell clothes, shoes and accessories on eBay. I have sold many a pair of shoes on eBay and made more money than I would have in a consignment shop. You know the drill: the shoes seemed to fit fine in the store but once you got out on the street for any length of time, your feet felt like tiny gremlins were poking at your toes with miniature needles. Those are the shoes I sold on eBay. The buyers always remarked how happy they were with my former shoes so their tootsies must have been less sensitive than mine. And I usually got close to what I paid for the shoes — a win-win situation for all involved.

A fun and social method of cashing in on your unwanted clothes is to arrange a swap party with friends. Serve some wine and cheese and agree on a limited number of items you would each bring, perhaps three or four, and have fun swapping and telling the stories behind each other’s ‘treasures’.

As the holidays have just passed, we have all received a few gifts that we really wish we hadn’t. The expression “One man’s trash is another man’s treasure” holds true.

That sweater your mother-in-law gave you, the shirt that’s two sizes too large, or small, or the scarf in an unflattering color will make someone else very happy.

Why bother holding onto items that will not be worn, used or cherished? Not only can you find extra money by going through your closets, you will also feel lighter and less cluttered. Take advantage of the opportunities to turn your trash into treasure and remember that spring is around the corner along with another opportunity for turning your unwanted clothes into cash: Tag Sales.