There are a million ways to save money, but a lot of them are passive. Some apps allow you to round up your spending and add spare change to your savings account effortlessly. Other saving plans focus on cutting down spending and doing less and redirecting those funds into your savings.
These strategies are effective, but may not be ideal for people who want a more hands-on savings plan. It’s sometimes difficult to see your progress when saving passively, and without the feeling of accomplishment and success, it’s tough to stick to a plan. That’s why this Sales Savings Challenge can be a fun, engaging way to also boost your savings.
The Sales Savings Challenge
The premise is pretty simple, and flexible too. You probably have a ton of stuff lying around your house that you don’t use or need anymore, but it’s not just junk either. The goal is to sell at least one of your unused items at set intervals – once per week, month, etc, – and put any money you make on the sales right into your savings account. Not only are you building up some savings, but you’re also clearing some clutter out of your house.
There’s no shortage of places to sell anything you have lying around, either. Facebook Marketplace is convenient to use, and it’s super simple to post an item for sale and communicate with buyers. You can also check out LetGo and Mercari, apps designed for person-to-person sales. You should have no issue finding a buyer, no matter what you’re selling.
Under current conditions, you shouldn’t be physically meeting anyone from the internet in person though. Until we get through the other side of the COVID-19 outbreak, the risk of face-to-face interaction with a stranger isn’t worth the few bucks you’ll pick up.
Luckily, the U.S. Postal Service is, as of now, still operating, and practicing social distancing techniques to ensure a safe package delivery. The World Health Organization said that “the likelihood of an infected person contaminating commercial goods is low and the risk of catching the virus that causes COVID-19 from a package that has been moved, traveled, and been exposed to different conditions and temperature is also low.”
If you’re planning on mailing or getting a package, it’s probably still a smart idea to handle it with gloves and disinfect the item.
Making the Challenge Flexible
The rules here aren’t supposed to be incredibly strict. The goal is to help you save money, so you can tweak the challenge to make it work better for you. For instance, you can set less aggressive, but recurring goals, like selling one item a month, and you can still bring in a few hundred bucks each year. On the other hand, you can set more difficult, short-term challenges for yourself, like selling an item a day for a week.
The important thing is not how you are as a salesperson, it’s about the progress you make with your savings. More than half of Americans don’t have enough saved to afford a $1,000 emergency expense, and even a few bucks here and there can make a big difference.
If you need inspiration on where to get started selling and saving, try giving each month a theme. For instance, in March when you’re switching from your winter wardrobe to spring apparel, try to sell one item of clothing every week as you spring clean. Or around the holidays when you might be getting new phones or computers as gifts, designate December for selling a few electronics.
With a theme or plan established, you’ll not only have your savings organized but also tidy up different parts of your home periodically. The sales challenge is a great way to add a little structure to your savings plan, while also keeping you in complete control.
However, you decided to tackle it, good luck and happy selling!
See Also: How to Marie Kondo Your Budget